500 Day War Begins on Tuesday

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Sep 4, 2010 8:12 pm

Finalizing creative lead sourcing over this holiday weekend for my final niche.  Already have 2000 leads for one corporate niche.  1400 residential DNC leads for a product strategy for evening and late afternoon calls.  Also I have two more niches that I have a common thread with and approaching roughly 1000 thousand leads per niche.  It takes forever to use google, linkedin, association memberships, etc. to match a phone number with a list of names, but it will be worth it.  I have my script as well, so prepare for launch on Tuesday.  I will update this on a semi regular basis, but let's make this interactive.  Give me some contact goals.  The most I have ever done is 40 per day...and that was tough, but this is war so let's do this!

Sep 5, 2010 10:38 am

Stone Cold check out this topic Qualifying My 500 Day WAR!!!!  It will give u some ideas. Read BondGuy (all of his posts) and follow his outline. I too looked at 40 contacts and BondGuy said closer to 75-100 perday. Let's go after this and make it happen!!!

Sep 5, 2010 3:23 pm

[quote=rogerballs]

Stone Cold check out this topic Qualifying My 500 Day WAR!!!!  It will give u some ideas. Read BondGuy (all of his posts) and follow his outline. I too looked at 40 contacts and BondGuy said closer to 75-100 perday. Let's go after this and make it happen!!!

[/quote]

Wow, that is a lot of contacts per day.  BTW, I just read your thread.  Very motivational.  Are you purely doing a product pitch to small business owners as your only strategy?  I haven't ventured out of state yet in terms of pitching to small business owners so that strategy sort of interests me.  Would love to get your insights since it seems like your plan is solidified already.  I think it will definitely make this ride a little more exciting by having someone else pushing the rock up the hill at the same time.  Lets roll dude!! 

BTW, I am assuming you have generated revenue already so are your stated projections for the end of 2011 (7.2M AUM and $144,000 in T12) based on the $7.2m?  If so, sign me up? 

Sep 6, 2010 10:44 am

I am using a BondGuy' s tax free bond pitch, " this BondGuy Jr. at BondGuy Firm the reason for my call you is to let you you know that we've been seeing some very attractive bonds with equivalent yields as high a ____% lately,  I have nothing or you today but the next time I see one would you like to hear about it?

I already have some production that will enable me to pay the bills and survive. The Production for end of 2011 is for new business only. send me a pm with an email and I will share my 500 day war manual. 

The list is one I have had a lot of questions on. As Bill Good says, the best list is your own list. I have a unique list and we'll see how it works.

Let's ger ready to rumble!!!!!   

Sep 6, 2010 12:26 pm

Excellent stuff, guys. I'm also pursuing a "War" but didn't consider one with such a long time horizon. Typically I work for 90-day surges based on an annual business plan. I am now dreaming bigger and am joining you in the War starting tomorrow!

Sep 6, 2010 12:34 pm

Awesome!  The more the merrier.  Let's use this or alternatively, start a new thread to continually post our daily work activities to make sure we continue advancing forward.  Activity ALWAYS yields results. 

Sep 6, 2010 5:43 pm

[quote=StoneColdMutha]Finalizing creative lead sourcing over this holiday weekend for my final niche.  Already have 2000 leads for one corporate niche.  1400 residential DNC leads for a product strategy for evening and late afternoon calls.  Also I have two more niches that I have a common thread with and approaching roughly 1000 thousand leads per niche.  It takes forever to use google, linkedin, association memberships, etc. to match a phone number with a list of names, but it will be worth it.  I have my script as well, so prepare for launch on Tuesday.  I will update this on a semi regular basis, but let's make this interactive.  Give me some contact goals.  The most I have ever done is 40 per day...and that was tough, but this is war so let's do this![/quote]

You say "leads" do you mean records or actual leads? I think list brokers are being very liberal by calling a record a lead. If they are "leads" that's one hell of a pipeline to start out with. If they are simply records you'll burn through that in a couple weeks. I had a database of 17,000+ non DNC numbers to dial from and got some milage out of it. I would get to work at 8 AM and one of two things would happen. I would get 40 new contacts or keep dialing until 8 PM before I would go home. It's my belief if you can get the 40 a day you can't fail.

As for a 'niche' you're going to need to kiss every toad that hops to start getting some order flow.

Sep 6, 2010 8:58 pm

Gaddock, you are correct. My list of suspects is 63,000+. I will call this list os suspects looking for prospects( people who have been called and qualified for interest in munis). I expect 2,000 suspects will lead to  200 accounts. We'll see. I will be posting weekly numbers Next post is Sunday or Monday of next week!

Sep 7, 2010 6:55 am

[quote=Gaddock]

[quote=StoneColdMutha]Finalizing creative lead sourcing over this holiday weekend for my final niche.  Already have 2000 leads for one corporate niche.  1400 residential DNC leads for a product strategy for evening and late afternoon calls.  Also I have two more niches that I have a common thread with and approaching roughly 1000 thousand leads per niche.  It takes forever to use google, linkedin, association memberships, etc. to match a phone number with a list of names, but it will be worth it.  I have my script as well, so prepare for launch on Tuesday.  I will update this on a semi regular basis, but let's make this interactive.  Give me some contact goals.  The most I have ever done is 40 per day...and that was tough, but this is war so let's do this![/quote]

You say "leads" do you mean records or actual leads? I think list brokers are being very liberal by calling a record a lead. If they are "leads" that's one hell of a pipeline to start out with. If they are simply records you'll burn through that in a couple weeks. I had a database of 17,000+ non DNC numbers to dial from and got some milage out of it. I would get to work at 8 AM and one of two things would happen. I would get 40 new contacts or keep dialing until 8 PM before I would go home. It's my belief if you can get the 40 a day you can't fail.

As for a 'niche' you're going to need to kiss every toad that hops to start getting some order flow.

[/quote]

That list is creatively sourced leads.  In other words, they are leads that are for hard to get numbers...not something I purchased (outside of the residential numbers).  So let's hope I get a little mileage (i.e. success) out of them.  I can get an endless amount of small business leads so that isn't a problem.  We will see how things pan out, but I am definitely shooting for a high volume of daily contacts.

Sep 7, 2010 7:02 am

Best of luck to you guys.

Sep 8, 2010 6:44 pm

[quote=rogerballs]

Gaddock, you are correct. My list of suspects is 63,000+. I will call this list os suspects looking for prospects( people who have been called and qualified for interest in munis). I expect 2,000 suspects will lead to  200 accounts. We'll see. I will be posting weekly numbers Next post is Sunday or Monday of next week!

[/quote]

AWESOME!!!!   I've posted this before and may be off by a digit or two but;

My averages while cold calling.

367 dials =

15 Leads (not very qualified but agreed to listen to a 'good idea' from time to time) =

1 customer, after NINE contacts (HUGE difference than a client or partner. A customer simply bought something from me).

The ruffly 35,000 dials I made in year one are worth about $70 a dial in gross production. A great and motivational way to think about it. Every dial you make will bring in $70 down the line.

I was half in the bag when I started a thread and the next morning a read it, for me, it was a huge mental turning point. I began to totally tear the phones up in a big way. If you search for the thread it may be worth the read.

Simple changes that brought big returns   link

Sep 8, 2010 6:40 pm

[quote=StoneColdMutha] That list is creatively sourced leads.  In other words, they are leads that are for hard to get numbers...not something I purchased (outside of the residential numbers).  So let's hope I get a little mileage (i.e. success) out of them.  I can get an endless amount of small business leads so that isn't a problem.  We will see how things pan out, but I am definitely shooting for a high volume of daily contacts. [/quote]

Again, just my very humble opine is, using the word 'record' for something that is a number that has not been contacted is a misleading practice used by those selling lists. A lead is  a result from an actionable event creating interest in a potential future relationship anything less is simply a record.

I hope you both hit it out of the park. At the end of the day and looking back the Polk directory is just as good as anything else. Please know the 'lead brokers' lists are in my experience garbage. I've never bought a 'lead' that could hold a candle to one I created.

Rock on guys make your luck!!!!!! The harder you work the luckier you get!!!!!!

Oh yeah ... the local library can be a huge resource for databse info for free you would have to pay big bucks for otherwise i.e. SalesGenie etc etc.

Sep 8, 2010 7:31 pm

Where do you get the Polk Directory?

Sep 8, 2010 7:41 pm

[quote=Gaddock]

[quote=StoneColdMutha] That list is creatively sourced leads.  In other words, they are leads that are for hard to get numbers...not something I purchased (outside of the residential numbers).  So let's hope I get a little mileage (i.e. success) out of them.  I can get an endless amount of small business leads so that isn't a problem.  We will see how things pan out, but I am definitely shooting for a high volume of daily contacts. [/quote]

Again, just my very humble opine is, using the word 'record' for something that is a number that has not been contacted is a misleading practice used by those selling lists. A lead is  a result from an actionable event creating interest in a potential future relationship anything less is simply a record.

I hope you both hit it out of the park. At the end of the day and looking back the Polk directory is just as good as anything else. Please know the 'lead brokers' lists are in my experience garbage. I've never bought a 'lead' that could hold a candle to one I created.

Rock on guys make your luck!!!!!! The harder you work the luckier you get!!!!!!

Oh yeah ... the local library can be a huge resource for databse info for free you would have to pay big bucks for otherwise i.e. SalesGenie etc etc.

[/quote]

Thanks Gaddock.  Finished the day at exactly 300 dials.  150 in the morning and 150 after lunch.  In the morning I was calling small business owners and my contact ration sucks for calling them.  Called my creatively sourced leads (i.e. records where I used linkedin, google, etc. to put the number together with a name) and my contact ratio  impoved dramatically to 1 in 6.  One in ten is typical for me when I call small businesses.    Two appointments with "money in motion" from the afternoon calls.  Midsized rollovers, but I will take 'em because it gets me access to other people who are my "marks" coworkers.   

Btw, I know what resource you are talking about with respect to the library and I can get a seemingly endless supply of small biz names, but I am just not that effective with them since everyone calls them all of the time.  My creatively sourced names are barely even touched/targeted by others making it easier for me to make the sale...plus my increased contact ratio allows me to talk to more of them!!!  If I could replicate the contact ratio with the small businesses, maybe it wouldn't be so bad.  Go figure.  

Sep 8, 2010 7:47 pm

Gaddock,

BTW, do you think your AGE pitch is still a good pitch given the environment we are in (for that matter, does the pitch even matter or is success a product of talking to a certain amount of people every day over an extended period of time?)  Also, did you mean 35,000 dials X $70 equaled $2,450,000 in revenue or did I read that wrong?  Thanks again for all of the advice.

Sep 8, 2010 8:22 pm

[quote=Gaddock]

[quote=rogerballs]

Gaddock, you are correct. My list of suspects is 63,000+. I will call this list os suspects looking for prospects( people who have been called and qualified for interest in munis). I expect 2,000 suspects will lead to  200 accounts. We'll see. I will be posting weekly numbers Next post is Sunday or Monday of next week!

[/quote]

AWESOME!!!!   I've posted this before and may be off by a digit or two but;

My averages while cold calling.

367 dials =

15 Leads (not very qualified but agreed to listen to a 'good idea' from time to time) =

1 customer, after NINE contacts (HUGE difference than a client or partner. A customer simply bought something from me).

The ruffly 35,000 dials I made in year one are worth about $70 a dial in gross production. A great and motivational way to think about it. Every dial you make will bring in $70 down the line.

I was half in the bag when I started a thread and the next morning a read it, for me, it was a huge mental turning point. I began to totally tear the phones up in a big way. If you search for the thread it may be worth the read.

Simple changes that brought big returns   link

[/quote]

My stats are 98 calls to an appointment, 431 will bring me a closed account (normally between 100 and 500k) within a month.  I average 4 leads per hour of calling, 50 calls per hour business 75+ residential, but the ratio is about the same.   Last call session was 212 dials, 4 leads, one of them a well qualied prospect who agreed to meet before the end of October. 

High touch after the call does result in better closing ratios.

I normally ask for an e-mail address. Since I call on campaigns I then codify people by campaign (Seminar, Annuity, Bond, etc) and create 24 person e-mail distribution lists to be able to get under the 25+ needs pre approval hurdle in my wirehouse environment. Then, once a day, I hit a distribution list of 24 people (I have literally hundreds of these at this point) and include something that that campaign is interested in. 401k info, research report, market info on specific interest, etc.

Hope that helps.

Sep 8, 2010 9:23 pm

Takingnames,

Do you mind sharing your pitch (it sounds like you may have several based on the type of campaign).  Thanks!

Sep 8, 2010 11:37 pm

[quote=Takingnames]

My stats are 98 calls to an appointment, 431 will bring me a closed account (normally between 100 and 500k) within a month.  I average 4 leads per hour of calling, 50 calls per hour business 75+ residential, but the ratio is about the same.   Last call session was 212 dials, 4 leads, one of them a well qualied prospect who agreed to meet before the end of October. 

High touch after the call does result in better closing ratios.

I normally ask for an e-mail address. Since I call on campaigns I then codify people by campaign (Seminar, Annuity, Bond, etc) and create 24 person e-mail distribution lists to be able to get under the 25+ needs pre approval hurdle in my wirehouse environment. Then, once a day, I hit a distribution list of 24 people (I have literally hundreds of these at this point) and include something that that campaign is interested in. 401k info, research report, market info on specific interest, etc.

Hope that helps.[/quote]

I rarely, in the true sense, cold call now as I don't have the time and I run the money in my book myself. One day I think I'll become an SMA using the hedging strategy I employ. The numbers I'm creating are pretty OK, kicking off double digit alpha with a beta of under .6. FINRA prohibits me from more detail than that, here. When I call now it's typically very warm and or a referral. My call now is short and powerful, IMHO...

Hello Mr. Schmoe, this is X with X got your info from X ...

IF I can hedge your account from further loss will you open an account with me?

I say it with huge confidence and in a manner to say no makes you almost sound like a moron.

If they say no I say OK I appreciate a simple and real answer more than you know. Before you go can I ask you one simple and honest question? They will say yes almost always and then I say ....

WHY?  and then SHUT UP no matter how long it takes. he he he Talk about uncomfortable silence.

Then there will be some lame excuse. I'll say something like, Mr. Schmoe I know it's a scary world these days. Close your eyes and imagine your portfolio going from a buy and hang in there to an active strategy designed to STOP LOSSES FIRST that still makes a very good return ... It's a no brainer ... STICK YOU TOE IN THE WATER AND GIVE IT A TRY. The money I make on your account is nothing, IF what I'm telling you is true the money you make will CHANGE YOUR LIFE. IF this is true a year or two from now I'll ask you for all of your business and the names of people want the same ... fair enough?

Been working well, on a warm call I'll get ink on paper from eight of ten.

Sep 8, 2010 10:32 pm

[quote=StoneColdMutha]

Gaddock,

BTW, do you think your AGE pitch is still a good pitch given the environment we are in (for that matter, does the pitch even matter or is success a product of talking to a certain amount of people every day over an extended period of time?)  Also, did you mean 35,000 dials X $70 equaled $2,450,000 in revenue or did I read that wrong?  Thanks again for all of the advice.[/quote]

I think it is timeless. That's why it was taught to countless classes of new AGE folks. AGE was the finest firm in the biz, Bagby will burn in hell for selling out a 120 year old firm to a piece of shit like WB.

Hello Mr. X I'm X with AGE here in town X ... I was calling you to see if you are an investor and IF SO ... would you be open to good ideas from time to time?

Timeless and it works in all markets.

Sep 9, 2010 7:03 am

7:02 A.M. and I have been here for 32 minutes already.  A little more prep work and I start dialing at 8 a.m.  Let's see what I can create today!!