Cold call script.....opinions

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Feb 5, 2010 2:31 pm



Got back into it this morning after a long time away from cold calling.  Felt great, 80 calls, two leads.
 
Want to keep it simple, so after introducing myself, I tell them I provide two advisory services, and if they are in need of a financial advisor, I'd like to send them a brief presentation of those services to see which one would benefit them the most.......if yes, then qualify.
 
I've enjoyed reading the posts and welcome feedback if it's too simple or about right.....thanks in advance.
Feb 5, 2010 2:37 pm
hci:



Got back into it this morning after a long time away from cold calling.  Felt great, 80 calls, two leads.
 
Want to keep it simple, so after introducing myself, I tell them I provide two advisory services, and if they are in need of a financial advisor, I'd like to send them a brief presentation of those services to see which one would benefit them the most.......if yes, then qualify.
 
I've enjoyed reading the posts and welcome feedback if it's too simple or about right.....thanks in advance.

Could you explain this a little more.... 2 leads 80 calls seems good(those are leads not contacts right? residential or business?)
Feb 5, 2010 2:44 pm

I told them I have two advisory service, nothing more.......what I send will show traditional asset-based fee, the other is a flat fee(good for 401k investors who don't have any money outside of company plan).  Point is, I'm giving them more than one option.......

Feb 5, 2010 5:35 pm

The fact that you are dialing is huge. If you ask for anything enough times eventually you'll get a yes.


2 leads out of 80 dials sound pretty darn good.
Feb 6, 2010 2:07 am
Gaddock:

The fact that you are dialing is huge. If you ask for anything enough times eventually you'll get a yes.


2 leads out of 80 dials sound pretty darn good.

Shoot for 1 appointment out of 80 and you are golden.
Hey Gaddock! How's all?
 
Feb 7, 2010 12:04 am
hci:




Want to keep it simple, so after introducing myself, I tell them I provide two advisory services, and if they are in need of a financial advisor, I'd like to send them a brief presentation of those services to see which one would benefit them the most.......if yes, then qualify.
 
Simple, yes.  Boring... that too.
 
"I provide two advisory services"  So What?
 
if they are in need of a financial advisor  So What?  No I'm not.  What's that?
 
"I'd like to send them a brief presentation of those services to see which one would benefit them the most"  So What?
 
No wonder you only got 2 out of 80.  That approach is terrible.  You're calling people and begging for money (advisory fees) without telling them what you ACTUALLY DO!
 
You didn't get anyone's attention with that script, so that's why you got the results you did.
 
Your opening question should have the following result:  that the other person asks "What is it?!  and When can you come by?!"  If your question doesn't get this response, you need to work on it.
 
If they say ask "what is it?", refuse to answer on the phone.  "I would love to go into more detail, but I have something I need to show you.  It'll only take 10 minutes and you can judge it for yourself."
 
If they ask you to call back to schedule an appointment, say "I have my datebook right here.  Is yours handy?"  (And you know it is.)  "Why don't we set a time right now?"
 
BTW, never mail anything.  Information is to be left, not sent.  If you can't sell it via mail, don't send anything in the mail.  If you can't sell it on the phone, don't sell on the phone.
Feb 9, 2010 9:26 pm
Gordon Ramsey:




BTW, never mail anything. Information is to be left, not sent. If you can't sell it via mail, don't send anything in the mail. If you can't sell it on the phone, don't sell on the phone.





I haven't tried anything but appointments, but other successful guys here have called /mailed/ called and it seems to work. Have you tried the other way?

Feb 11, 2010 9:52 pm

How many new accounts out of the 80 calls?

Feb 11, 2010 11:32 pm

What kind of pain are your advisory services going to cure?  It doesn't sound like what you're offering is much of a hot item.

Feb 11, 2010 11:37 pm

It depends what you call leads. 

If I had to bet, most major wireshouses advocate appointments. Since 90% of all new trainees fail, what does that tell you what to do?

Feb 18, 2010 11:21 pm
Otane:

It depends what you call leads. 

If I had to bet, most major wireshouses advocate appointments. Since 90% of all new trainees fail, what does that tell you what to do?


That 90% of all trainees don't call enough people.
Feb 19, 2010 10:25 am
LSUAlum:
Otane:

It depends what you call leads. 

If I had to bet, most major wireshouses advocate appointments. Since 90% of all new trainees fail, what does that tell you what to do?


That 90% of all trainees don't call enough people.

Agreed. They accomplish it by 2 different ways too... Not making enough calls in one day and not continually making calls..
Feb 19, 2010 3:41 pm

Success speaks for itself.

 
If you are making calls and getting leads, and ulitmately opening accounts opinions don't matter.
 
There are many "Will this work?" types of questions on this forum. To find the answer is very simple, just do it! You will find out in a very short period of time how good your idea is or isn't. Nothing beats real world testing. And screw anyone who argues with your results.
Apr 11, 2010 7:42 pm

BondGuy,

      You often say that the best way to judge a prospecting strategy is to give it a trial run and inspect the results.  (BTW I love this attitude.  The old Edisonian adage that if you fail more than anyone else, you're also likely to run into success is incredibly motivating.)  This is definitely overthinking the issue, but my question would be: For how long should one try a new strategy to see if it will work for him or her?  One month?  An entire quarter? 

Any thoughts?

Apr 13, 2010 11:24 am

How long to stick with an unsuccessful approach?  That's a tough question because there are many moving parts to a campaign or call strategy. It also depends on whether the problem is lack of contacts or lack of interest. On a call program, i'd give it two to five hours of zero results before changing something. First change the script. Short scripts are best. Then change the time of day calls are made. Next change the list. I ve had dry spells that are list related, ie overbrokered etc. Lastly change the way you sound. Record yourself to hear how you sound. Get your voice up, know your script cold. Don't read it, it's only there to keep you on track. If none of this works time to change the service/product offered.

Apr 13, 2010 5:44 pm

[quote=BondGuy]

How long to stick with an unsuccessful approach?  That's a tough question because there are many moving parts to a campaign or call strategy. It also depends on whether the problem is lack of contacts or lack of interest. On a call program, i'd give it two to five hours of zero results before changing something. First change the script. Short scripts are best. Then change the time of day calls are made. Next change the list. I ve had dry spells that are list related, ie overbrokered etc. Lastly change the way you sound. Record yourself to hear how you sound. Get your voice up, know your script cold. Don't read it, it's only there to keep you on track. If none of this works time to change the service/product offered.

[/quote]

What do you base that on? Lack of interest?

Apr 14, 2010 4:10 pm

IF you are dialing you are 98% of the way there. Don't let anybody dissuade you with negative comments and or constructive criticism.

The following worked for me and many others.

The good old AGE script is tried and true. Use it and it's a numbers game. 40 new contacts a day and you can't fail.

Hello X I'm X with X here in X I'm calling you today to see if you are investor and if so are you open to new ideas from time to time.

Send a handwritten note with card.

Next call .... Hello X it's X, IF I can show you how to protect your account from loss would you be willing to open an account with me?

SHUT UP! don't say a word no matter what. If yes set appointment. DO NOT ELABORATE on the phone.

there is a plethora of objections and they are all BS, blow them off and ask the above again with conviction.

Either you will sell them a yes or they will sell you a no.

Jul 29, 2010 2:17 pm

Gaddock what are you using to protect them from loss?

Jul 29, 2010 2:35 pm

options.. kind of complicated, runs his own system....look back at previous posts