Cold Calling vs. Door Knocking
I am with Jones and new to the industry. I am currently door knocking, and have gotten some positive results. My questions are how much more efficient is cold calling vs door knocking or vice versa? Also, do any other firms door knock and if so what advice can you give on the process? Thanks in advance.
Check with your local Fuller Brush salesman...he might be able to give you a few good tips!
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I've done both. IMO it is harder to be rude to someone in person. Most people need help with their finances, they just don't realize it. A big part of your job is to enlighten them to what value a FA (or IR) can bring into their lives.
One tip I will offer, have 2 good ideas when you go out. It could be a timely stock, or even a CD. (I know this will draw alot of critizism, but sometimes you have to sell them what they want, to earn their trust before you can sell them what they need.)
Knock 'em dead.
I started with Jones two years ago new to the industry as well. My best clients have come from door knocking. It is a numbers game and there is no short cut to be successful. It does speed up the process of turning a quality prospect into a client. It is true sometimes you feel like a Fuller Brush salesman. Deal with it. Just keep doing what Jones tells you to do. I find the best hours to door knock are from 8:30 - 10:30am and from 4:30 - dark, I am going to start cold calling from about 6:30 - 8:30 pm to get some extra contacts.
when you say the best time to door knock is from 8:30-10:30am, is that in reference to businesses only? i've never door knocked residentials that early.
Door knocking can be super tough if you are expecting instant results and don't have a long-game in mind when deciding its efficiency. We wrote a huge guide to door knocking business door to door, like how the Edward Jones guys do it. We put a tons of scripts and tips for the financial professional in there too. I would like to see what you guys think of it, http://www.leadheroes.com/the-complete-guide-to-door-to-door-cold-knocking/
I apologize if this seems spammy - just wanted to share some information that might help others out, that helped for other professionals.