Cold Call: Strategies and Tactics

or Register to post new content in the forum

 

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Oct 24, 2013 6:30 pm


Hey Tigers!



Just started at a wire and plan to cold call for 90% of my business. I call small(er) private companies. If you used this strategy please share thougths. Did about 200+ dials and offered services and they are either empty or no interest.



1. I suspect that it is better to call with the product, not just service. Agree/Disagree? What product would you use speaking with people at company with 10 million in revenues? Over 50 million in revenues?



2. Is businesses better than buying a residential list that has been bought million times and when you call there everyone is at work or wants to relax? Unless you have a list of retired people - any success with retiree clientele or they are mostly all set?



3. When person says no thanks, how long you wait before calling him again? 1 mo, 3 mo, 6 mo? I spoke with very established FAs here who said they would call the rejector again and again until he goes don't f....n call here ever again.



4. Will you ever leave a message just to make them know your name when you call again or waste of time?



Thanks and keep the fight. Winners never quit, quitters never win!

Oct 24, 2013 8:39 pm

Cold call? Yuck

Would you buy anything from a stranger on an unsolicited call?

Oct 25, 2013 12:59 pm

after talking to many people who built their practice just on cold calls it is hard to argue that it works if you do it right...

Nov 20, 2013 12:55 pm

Combination of businesses and residentials is what I do. I won't lie to you, it definitely isn't glamorous, it's the definition of paying your dues and being in the trenches, but if you aren't willing to do it, you won't succeed. You're going to get a lot of no's, most people are nice about it, but sometimes youll run into those who bust your balls. When I was mentored by a rather large FA one of the biggest lines I took away from him was, "learn to love what your competitors hate in order to succeed." I've gathered about $1.5 million in cold calling YTD, I'm not lighting the world on fire with cold calls, but with referrals and seminars, it keeps me where I need to be.

As far as the actual calls, my style is service, not product. Doesn't make me right or wrong, I just don't believe in leading with product because how can I honestly say I'm bringing my client what's in their best interest if I call them about a product before I have any clue about who they are or what they need??

I wait about 3 months to call back people who turned me down and I never leave voice mail. Again, that's just a preference. I'm going for volume and if I make 300 phone calls in a day and get to 250 answering machines that day, that's roughly 250 minutes worth of VMs (30 seconds for ringing, 30 seconds message roughly)..That's a little over 4 hours worth of your time which could be devoted to other calls, so it adds up IMO. Keep calling, prospect everything that can fog a mirror. Good luck!

Nov 20, 2013 12:55 pm

Combination of businesses and residentials is what I do. I won't lie to you, it definitely isn't glamorous, it's the definition of paying your dues and being in the trenches, but if you aren't willing to do it, you won't succeed. You're going to get a lot of no's, most people are nice about it, but sometimes youll run into those who bust your balls. When I was mentored by a rather large FA one of the biggest lines I took away from him was, "learn to love what your competitors hate in order to succeed." I've gathered about $1.5 million in cold calling YTD, I'm not lighting the world on fire with cold calls, but with referrals and seminars, it keeps me where I need to be.

As far as the actual calls, my style is service, not product. Doesn't make me right or wrong, I just don't believe in leading with product because how can I honestly say I'm bringing my client what's in their best interest if I call them about a product before I have any clue about who they are or what they need??

I wait about 3 months to call back people who turned me down and I never leave voice mail. Again, that's just a preference. I'm going for volume and if I make 300 phone calls in a day and get to 250 answering machines that day, that's roughly 250 minutes worth of VMs (30 seconds for ringing, 30 seconds message roughly)..That's a little over 4 hours worth of your time which could be devoted to other calls, so it adds up IMO. Keep calling, prospect everything that can fog a mirror. Good luck!

Nov 21, 2013 9:17 pm
jdFA:

I just don't believe in leading with product because how can I honestly say I'm bringing my client what's in their best interest if I call them about a product before I have any clue about who they are or what they need??

There's usually enough time between the pitch and when they sign to determine suitability.