Cold walking - success only

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May 7, 2005 7:54 pm


I started cold walking last week.  The results (for me) were about four times better than on the phone.  I like both methods but just have had a little better luck with cold walking.  I may even consider a hybrid of the two. 


I read through all of the post on the Edward Jones method.  No one answered the guys question.  Please don't answer if you have never cold walked.


Can anyone share with me what worked for them at the door?

May 10, 2005 10:31 pm

this approach takes real dedication. you are a politician running your

own campaign.



I do this just to keep sharp. I open with

"hello mam/sir my name is____________ i just did a quarterly review with

one of your neighbors. I live in the area and like a politician like to stop

by meet people here in the community and know my neighbor."



They always ask what you are selling.



Again let me be clear....



then I ask them how long they lived there. what do you do?



What do you think of the rising fuel/interest/ect.



The follow up is the most important

May 17, 2005 7:41 pm

I can see there are a bunch of viewers without much to say.  Look this plan works if you work.  Nothing works unless you perfect it. 

May 17, 2005 11:07 pm

You lost me here..............



They always ask what you are selling.

Again let me be clear....

then I ask them how long they lived there. what do you do? You lost me on the ............................


Can you say it another way?


May 18, 2005 8:27 am
trentleyda:

I can see there are a bunch of viewers without much to say.  Look this plan works if you work.  Nothing works unless you perfect it. 



I wish you loads of luck, and I've taken heat in the past for saying this, but I think this approach combines the professionalism of a vacuum cleaner salesman and the charm of a Jehovah’s Witness marketing campaign.....<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

May 18, 2005 10:54 pm

"I wish you loads of luck, and I've taken heat in the past for saying this, but I think this approach combines the professionalism of a vacuum cleaner salesman and the charm of a Jehovah’s Witness marketing campaign....."


And you started your business by cold-calling.  If you want to know which one is looked down upon more by the general public, ask yourself this - why is there a national Do Not Call list but no Do Not Knock list?  (and yes I know that some communities have Green River laws, but nothing that mobilized the public like cold-calling).


It's easy as a vet with a nice book of business to look down at all the newbies trying to make it, but remember we all have to "walk" through the sh*t in one form or another (including you) to get there.

May 19, 2005 12:33 am


"And you started your business by cold-calling.  If you want to know which one is looked down upon more by the general public,..."<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />


ROFLMAO, you could always hang up on a cold call. If you want to know which one's looked down on more, just think what the general public says about door to door vacuum cleaner salesmen...


There’s a national DNCL because CALLS can come from across the country. OTOH, many towns have ordinances against salesmen bothering you at your door. There’s no need for a “National” don’t knock list because you can’t bother people in their homes in California from Florida.


"It's easy as a vet with a nice book of business to look down at all the newbies trying to make it, but remember we all have to "walk" through the sh*t in one form or another (including you) to get there."


Spare me, newbie. There's a world of difference between the annoyance of a ringing phone and some piker at your door trying to pry into your finances. It’s simply unprofessional. Sort of like lacking the basics of financial planning tools, not having email and having offices in strip malls. It would be a step up from that level of brokerage to selling used cars.


 
May 19, 2005 8:29 am

I agree, residential door knocking is not good. I've done it, did o.k. with it but prefer to not do it anymore. I will do business but haven't done that in quite some time. Should do more.

May 19, 2005 9:29 am
ezmoney:

I agree, residential door knocking is not good. I've done it, did o.k. with it but prefer to not do it anymore. I will do business but haven't done that in quite some time. Should do more.



Ummmm, what?

May 19, 2005 10:34 pm

So what is the best way to build a new business?  Just in veterans and let us know. We are hungry, excited and a bit overwhelmed.  Remember those days??

May 19, 2005 11:09 pm

Stan- Keep your personal prejudice out of the conversation. The fact is the point of a residential doorknock is merely an intro, not a sales pitch. I just bet you are a ton of laughs at a party, Stan. I bet your wife was something before electricity???

May 19, 2005 11:30 pm

Stan, I have knocked on doors, and, while of course some people tell you to "take a hike", most will listen to you, and divulge good financial information.



As a side note, my best clients (and some of my best friends) have been met through knocking and the subsequent (boy, isn't that a big word for this forum) referrals that come from knockings.



Granted, I'm in the Midwest and it works here. I agree it might not work in all places. As in all businesses, it all depends on your target market/



It's more than just shrimp...........Bubba Gump

May 20, 2005 1:46 pm

The fact is- there are numerous methods to develop your business( from cold calling ,cold walking, seminars, professional networking with CPA's,etc,etc,etc) and there are pros and cons to all these activities. We simply have to find the method we feel comfortable with, are successful at, measure the results, continually improve upon our method and delivery, and then CONSISTENTLY do it...


What works for some does not work for others, and thats where the beauty lies. Just get out of your comfort zone and make it happen. General advice, but hopefully it sorts through the bulls$$t and addresses the general topic....

May 24, 2005 9:06 pm

I once made a "campaign" out of going door to door, when I was a wirehouse broker in the 80's. I was experiencing some success cold calling, and felt that I could do better in person but was frustrated at not being able to get in front of enough of the right prospects.


One Saturday morning I put on a suit and went to the wealthiest section of Houston-River Oaks Blvd. This street is populated by old Houston oil money, attorneys, and other members of Houston's mega wealthy. I started at the first mansion next to the RO Country Club, at about 10:00am. I reached the driveway of the third mansion, when a police car came up behind me and asked what I was doing. I explained why I was there, and told him I could complete the entire boulevard by noon. "Okay," he said. "But if these folks want you to leave, you've gotta leave!" Yessir, no problem.


At each home, when someone answered, I told them my firm had a complementary program that would analyze a municipal bond portfolio, and that I just wanted to leave a small brochure describing it (with my business card attached). No selling, be brief, and be gone!


The short version of the story is that it was one of the most positive experiences I ever had as a broker. It was so good, I decided to try going back during the week in the evening (around 6:30-8:30pm). I must have covered hundreds of homes in who knows how many streets. I had one bad experience, when a lady went ballistic on me and threatened to write a letter to my manager. As I was walking away, I turned around and said as happily as I could "You sure do have some nice neighbors!" She yelled at me "Get out of here!" One out of a few hundred? I'll take those odds anytime.


One house I stopped at was the home of a famous heart surgeon. When his wife answered his question "Who's at the door?" She said a stockbroker, so he yelled "Send him in!' He didn't even look up at me, as he was watching a nightly business show. I walked in and he just pointed to a chair "Have a seat..."


To be direct, I'll tell you I never gained one account from the experience, but did get a heck of a lot of referrals from people who liked my style: "We're so tired of cold calls. Meeting someone face to face is wonderful."


As was already said, you have to find what works for you personally, and doing this felt comfortable to me. If nothing else, as a relative newbie (in the biz about 2 years at the time), it did a lot to build my confidence and removed the fear factor of dealing with people that could have bought and sold me ten times over, before breakfast. It also got me off the phone, but still generated a lot of activity and referrals. Get after it!  

May 25, 2005 4:06 pm

I think the best way is to find a rep who has been in the business a long time and team up with them, easier said than done I know, don't expect much at first, you don't have much to offer.  You'd call all of their B and C clients, service the hell out of them, work them for referrals, maybe you could specialize, like you handle only LTC sales for an office of 3 or 4 planners split the comp.  This will allow the older more experienced rep to focus on his A clients (bigger tickets/ more revenue), and will allow him to live a better life (less service work/more free time, etc.) it also gives them an out if they want to retire, work part time, down the road etc.


How would I go about getting this position?  Go get an education, many schools now have a degree in financial planning or fufill the requirements to take the CFP exam.  No veteran is going to let some dumb rookie talk to his clients, show them your serious and committed.  Make a prospect list of older reps, ask to shadow rep for a day, tell them you'd like to take them to lunch for allowing you to spend time with them, or drink etc.  Tell them the above stroy about what your hoping to do and why. 


 If I had to start from scratch that is how I'd do it, no other way.  Now that I have some experience and creditials I have had some offers just like I mentioned above.

May 26, 2005 1:08 am

Door Knocking works.


Learn from the experts:


http://www.edwardjones.com/pdf/beaconjournal.pdf#search='ed ward%20jones%20door%20knocking'




May 26, 2005 12:15 pm

First stop, Betty Ravenscraft. The 81-


year-old woman lets Immel in, then


watches as he takes off his shoes.


“He always takes his shoes off"


Hope he doesn't have stinky feet!  Are you serious?  At EDJ don't have people come to your office, you go to their house?


Jun 3, 2005 9:30 am
Oracle:

Door Knocking works.


Learn from the experts:


http://www.edwardjones.com/pdf/beaconjournal.pdf#search='ed ward%20jones%20door%20knocking'


"


Funny how the RL in this story doesn't have a Branch Manager's designation (as per NASDR website), how is this possible? (in fact most RL don't yet they do more management of the IR's than the FS guys & gals who are registered as Series 8s)


If you check out the IR's previous work history, you'll see that he's worked for more than just "a couple of companies" nudge nudge,   


Jun 3, 2005 9:32 am
Oracle:

Door Knocking works.


Learn from the experts:


http://www.edwardjones.com/pdf/beaconjournal.pdf#search='ed ward%20jones%20door%20knocking'







EX=Something from the past


SPURT=A drip under pressure.


I guess that IS an accurate description of you, BPD.

Jun 7, 2005 4:09 pm

Sorry, the only people I say no to quicker than telephone solicitors are the people who knock on my door.  We live on a lake and it happens WAY TOO OFTEN.  Even if I post a NO soliciting sign.  I never speak to these people and seldom open the door.  Wish I had a big dog.


If you are good at face to face, I suggest meeting people at clubs or local events.  I think they are more receptive and I have done that.