Referrals VS Cold Calling

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Dec 8, 2010 12:42 am

So I work at a small independent firm where we work mainly on a referral basis (started 3 Months ago).  I get 5-10 referrals after each appointment, call them each a few times a week to try and set appointments with them, but it seems that they hardly ever answer (although if they do it is usually an easy appointment to set).   My schedule has been minimal lately so I've taken to cold calling just to test the waters.   On of my supervisors and most people in the office are against cold calling, mailing, or anything of the sort, even though I've been having positive responses from a few of the hundreds I've already called.  So my question is dial 100 a day against the wishes of the office in hopes to bring in more assets, or just do what everyone else is doing and in turn, let my schedule dwindle (as well as my paycheck).   I'm leaning toward cold calling .  Tips/Comments/Motivation please!  Thanks!

Dec 8, 2010 11:21 am

Tell the others that w/o cold calling, you essentially have little or nothing to do. In our industry, it is widely considered that cold calling is bar none, the quickest and most cost effective way to prospect. After that, you simply must tell them to mind their own business. By all means, yes, work referrals, but you must also cold call and do some networking. If a person is new to the biz, and they are really/truly serious about this long term, networking is absolutely crucial. Networking of the three methods, will take the longest, shouldn't expect any real results for up to 3 long years. But, after 3 yrs, the networking will become your best prospecting source...AND you'll hopefully be doing something you enjoy/believe in while you're at it.

Dec 8, 2010 12:07 pm

Question- does some how calling a referral not violate the DNC List?  I thought you needed permission from the prospect or a prior business relationship to call someone listed on the DNC list.  Can anybody explain?

Dec 10, 2010 11:30 am

Anybody?

Dec 10, 2010 1:35 pm

[quote=Who do you know]

 I thought you needed permission from the prospect or a prior business relationship to call someone listed on the DNC list.  Can anybody explain?

[/quote]

Sounds right to me.    I personally wouldn't call someone on the DNC unless I had specific previous permission from them.

Dec 10, 2010 2:23 pm

The idea is that my person who gave the referral is supposed to let them know that I would be calling.   Doesn't always happen.   Cold Calling today (dentists)  about 20 in for the day and found an office who needs retirement packages and health benefits.  Should be a good one.   Found another account yesterday with a mother looking for insurance.   I don't know why everyone in this office dislikes cold calling, especially when you have nothing else to do.   As I write this my coworker is on his iPhone, has been for 2 hours, playing games.   Get me outa here.

Dec 10, 2010 3:02 pm

Good stuff kankles.

How do you get passed the gate keeper when you are calling Dental offices?  Or are you pitching to the gate keeper/office mngr?  Whenever I've tried calling them I have a pretty tough time getting through to the Dentist.

Dec 14, 2010 12:38 am

I ask for the doctor/office manager.  when they don't have anything set up I try to set the gatekeeper based on the fact that she doesn't have a 401k or anything thru the employer.  I usually leave a message and now I'll start calling back the same dentists asking if the doctor got my message.   We'll see how the office benefits opportunity goes, I sent in the quote a few days ago.  fingers crossed.

Dec 14, 2010 9:37 pm

If someone gives you a referral you do have to have permission to call from the prospect in order not to violate the DNC.  You could ask your current client does the person want you to call them.   

Dec 15, 2010 5:03 pm

[quote=I am legend]

If someone gives you a referral you do have to have permission to call from the prospect in order not to violate the DNC. No you don't. But it is widely assumed that if the name is given as a referral then they won't cal the FTC on you and turn you in.. Best way is to have client make call from your office or do a 3 way at a predetermined time. Or have the referrer coordinate some other way to introduce you to the client. You could ask your current client does the person want you to call them.   

[/quote]

Dec 18, 2010 9:34 pm

[quote=Kankle J]

So I work at a small independent firm where we work mainly on a referral basis (started 3 Months ago).  I get 5-10 referrals after each appointment, call them each a few times a week to try and set appointments with them, but it seems that they hardly ever answer (although if they do it is usually an easy appointment to set).   My schedule has been minimal lately so I've taken to cold calling just to test the waters.   On of my supervisors and most people in the office are against cold calling, mailing, or anything of the sort, even though I've been having positive responses from a few of the hundreds I've already called.  So my question is dial 100 a day against the wishes of the office in hopes to bring in more assets, or just do what everyone else is doing and in turn, let my schedule dwindle (as well as my paycheck).   I'm leaning toward cold calling .  Tips/Comments/Motivation please!  Thanks!

Personally referralsare great they are the easiest appointment. however there is a difference between referrals and qualified referrals. hwever they are far and in between. your supervisor should be happy that he has a rep working. good luck and coming from a office where cold calling was once frowned upon. now alot are resulting to it. good luck cold calling and you should join our cold calling support group.

Dec 19, 2010 8:48 pm

I usually see referrals from clients two ways... those that we solicit (do you know anyone) and those that are offered to us.  I take the same approach on every one.  I always ask the person that is giving me the referral if i can refrence their name to the referral.  If so, will they let them know I'm calling.  A letter go outs that day with my business card - and then I call 3-5 days later.  I make three calls and after that I make it a point to knock on their door one evening or a Saturday.

Latley, I've been a bit more targeted in my referrals.  I ask my client if they know the person (they always do because it's a co-worker and/or neighbor) and ask for an introduction. Works like a charm.

Jan 2, 2011 8:59 pm

What is the best way to network and what is the end goal? For example, I play tennis with a group of guys a few times per week; to me that's networking as they all know what I do. Some people belong to networking groups, but this doesn't seem very effective if 10 people are FA's in the group....

Curious to hear more.