How long can you last cold calling?

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Apr 29, 2005 1:29 pm

Just curious.  We have an obnoxious kid out of college.  Got to give it to him, because he made his first year numbers ($5m assets).  He spends his whole day on the phone making about 200 cold calls.  They rest of the day he sucks up to the managers.  His next year goal is $10 million.  Do you think he can last?  Got to admit he is good.  I can't believe anyone would give their money to him, but they do.  Have you seen anyone like this before???

Apr 29, 2005 1:40 pm
maybeeeeeeee:

Just curious.  We have an obnoxious kid out of college.  Got to give it to him, because he made his first year numbers ($5m assets).  He spends his whole day on the phone making about 200 cold calls.  They rest of the day he sucks up to the managers.  His next year goal is $10 million.  Do you think he can last?  Got to admit he is good.  I can't believe anyone would give their money to him, but they do.  Have you seen anyone like this before???



Besides me? yes

May 14, 2005 2:31 pm

maybeeeeeeee


What is this guy calling on, product or generic?


Does he use a script?


What list is he using and where does he get it?


I am spending whole day on phone also but am seeing limited results.  Most of my business has come from my network which is now exhausted. 




May 14, 2005 6:33 pm

sounds llike the guy is relentless and perisistent with his marketing- which is one key variable we MUST have. By sheer law of numbers the guy will get in front of people, some ACAT'ing accounts, some not.. I have seen it several times- where a new guy comes in with the intelligence and persoanlity of a slug, works his A-sS off, and finds a wqay to make it happen...

May 15, 2005 10:18 pm

The problem I am having is not being able to make the contacts by phone.  Between the DNC, answering machines, caller ID, I find my self making 200 dials just to get maybe 15-20 contacts.  I have been calling residential numbers.  I would be interested to find out if anyone is calling in today's environment successfully.  My training department keeps trotting out brokers who started calling pre DNC and after all is said and done you find out that the accounts they are opeing are from contacts they made 3 and 4 years ago.  Most of them are now able to utilize the referral route but how do you build the client base to be able to work referrals?  Frustrated!

Jun 12, 2005 2:09 pm

2yrsin,

I am in the same situation as you are. I make about 200 dials and get maybe 20 Contacts. I have realised that's just not enough. I need at least 50 to 80 Contacts a day to land appointments. Buy a Scrubbed list of Business phone numbers or call the Yellow pages and you won't have to deal with the DNC.

Starting early in the morning around 7 A.M. has proved extremely beneficial to many cold callers.

Good Luck!

Sonny

Jun 13, 2005 2:54 pm

HOw are you cold calling at 7am in the morning when it is illegal?

Jun 13, 2005 11:49 pm

My firm's Phone Software does have a DNC curfew until 8 A.M. for New York. Anyways point is to start early.

Jun 14, 2005 8:58 am

Sorry I am late in getting back to you.  The young guy in our office who has been successful bought his list off the Internet somewhere.  He starts the call with a script and then goes the way of the caller.  Very smooth on the phone.  With out a doubt, he is one in a thousand.  Good luck.


Have you tried business cards???

Jun 14, 2005 5:54 pm

maybeeee - What's his opening line on his script? (looking for what he says after he says his name and where he is calling from)

Jun 14, 2005 6:06 pm

I'm sorry- did I catch you in the middle of relations with your spouse ?????

Jun 14, 2005 6:16 pm

maybeeee,
I run into the same issue as a recruiter.  Obviously, the DNC list does not appoly, but I will typically have 100 dials or so, with only about 10-20 contacts. 

Jun 15, 2005 9:46 am

that was meant to say apply

Jun 15, 2005 5:27 pm

I've found that being on the phones is a great way to start.  But I couldn't imagine doing it throughout the majority of my career. I have also experienced maybe 5 people talked to per 100 dialed. Most of my business comes from networking events, seminars, businesses, and referrals.


Some people don't mind the phone and are good at it...most would rather get business another way.

Jun 16, 2005 2:35 pm

After he introduces himself he usually says, "I am working with several families in ______________city and helping them make the most of their investment portfolios.  Are you currently in the market?"  I figure this is just about what everyone says.  Then we keep a warbook with comebacks for every no we hear.  He keeps at it.  He has a nice voice.  Just in person, you would be shocked when you saw him that anyone would give their money to him.  Good luck.

Jun 20, 2005 12:44 pm

That's an interesting opening to a call, I may try it.

Jun 21, 2005 11:50 am

Go invest a few hundred in a IVR system, auto dialer and start with a niche market.  Get 1-2% replies then follow up others that didn't answer with letters and postcards plus keep that dialer dialing.  Hell beats sitting at a phone all day. 

Jun 21, 2005 4:25 pm

more than a few hundred, I use to work for a call center that did telemarketing as a project manager.  Trust me, they are expensive.  Plus, an autodialer has many issues that you don't want to deal with as a broker.

Jun 21, 2005 8:31 pm
Kargon:

more than a few hundred, I use to work for a call center that did telemarketing as a project manager.  Trust me, they are expensive.  Plus, an autodialer has many issues that you don't want to deal with as a broker.


Not really.  There are web based systems.


Do a Google search for other systems or check out http://www.voiceshot.com

Jun 22, 2005 12:45 am

more than a few hundred, I use to work for a call center that did telemarketing as a project manager.  Trust me, they are expensive.  Plus, an autodialer has many issues that you don't want to deal with as a broker.


No, you can put one together for under 500.00 or so or buy a pre package one for 999.00.  Of course these or basically 1-4 lines and if you have a computer handy to dedicate to the caller. 


Issues, hell we all have issues!  Once again its simply a way of pushing ones name out by offering something simple, such as a free consultation?  Or a specific service such as Life Settlements, I don't see the problem?  In fact the one pre package $999.00 the guy who is selling them said his main market was Financial Advisors?  Go figure?


IVR's are quickly becoming the next thing better then slice bread!