Simple changes that brought big returns

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Aug 5, 2007 3:33 pm

A few simple changes dramatically increased the productivity of my cold calling.


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1)      I now call people with the purpose of disqualifying THEM.


2)      I speak to them with courtesy and respect but at the same time as if they are subordinate to me.


3)      I make my voice loud and clear trying to make it as forceful as I can.


4)      I stand up while calling and look in a mirror and force myself to smile even if a fake smile. I built a little calling station in a back room to facilitate this.


5)      I set my daily goal. Then one of two things will happen … I will call until 8 PM or meet my goal and go home.


6)      The most common knee jerk objections are simply ignored and I proceed with the call.


7)      I give my manager my efforts and results (cold calling daily sheets) each Friday and asked him to keep me accountable as to effort and results that are no less.



The above I’m sure is simple and common knowledge to most. BUT these simple changes have made my recent calling beyond my wildest.



I’m now looking forward to making my calls, THANKS Joe for making me get my head around things.


Hope this helps somebody out there.
Aug 5, 2007 4:41 pm
Gaddock:

A few simple changes dramatically increased the productivity of my cold calling.


 <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />


1)      I now call people with the purpose of disqualifying THEM.


2)      I speak to them with courtesy and respect but at the same time as if they are subordinate to me.


3)      I make my voice loud and clear trying to make it as forceful as I can.


4)      I stand up while calling and look in a mirror and force myself to smile even if a fake smile. I built a little calling station in a back room to facilitate this.


5)      I set my daily goal. Then one of two things will happen … I will call until 8 PM or meet my goal and go home.


6)      The most common knee jerk objections are simply ignored and I proceed with the call.


7)      I give my manager my efforts and results (cold calling daily sheets) each Friday and asked him to keep me accountable as to effort and results that are no less.



The above I’m sure is simple and common knowledge to most. BUT these simple changes have made my recent calling beyond my wildest.



I’m now looking forward to making my calls, THANKS Joe for making me get my head around things.



Hope this helps somebody out there.


What are you going to do with all the money you make from having this attitude? Good stuff.

Aug 5, 2007 4:59 pm
Gaddock:

5)      I set my daily goal. Then one of two things will happen … I will call until 8 PM or meet my goal and go home.



Only 8 PM!! Geesh, what a lightweight!


Really though, good stuff.


Proof positive that some people want what they can't have:


YOU: "Oh, I'm sorry you don't qualify for our minimum trade of $100,000."


PROSPECT: "Uhhh, wait, hold on....(murmuring in background). Oh, uh, yes, I'll take $125,000 on second thought.


*******************************


I understand that leaving work early is your reward for reaching your daily goal. However, don't you smell blood when you open a significant account? When I smell blood, I keep going...The adrenaline rush is great!


Good luck!

Aug 5, 2007 6:07 pm

Bobby,


I’m not counting my chickens until they hatch and at this time it’s more about assets than commission. I’m shooting for $25 million in two years and $100 in five.


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Doberman,


My goals are 50 meaningful conversations, 5 appointments set of $5k in gross. When I hit one and get a little extra time with my family that goal will then increase from that point on. Have not gone home early yet. But I will soon


Thank you both for your comments
Aug 5, 2007 7:01 pm

Three questions:

Do you buy lists?  Residential and business or just one of these?

I've found that when I make the point to setup appointments, my time for calling dissipates, what do you do to counteract this?  If I don't make this point then I just end up qualifying people and never going for the throat.

Thanks

Aug 5, 2007 7:12 pm

Sounds like a great process.  Are you calling on a product or a general call to get an appointment?

Aug 5, 2007 8:33 pm

It was a rhetorical question.



Gaddock:

Bobby,


I’m not counting my chickens until they hatch and at this time it’s more about assets than commission. I’m shooting for $25 million in two years and $100 in five.


 <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />


Doberman,


My goals are 50 meaningful conversations, 5 appointments set of $5k in gross. When I hit one and get a little extra time with my family that goal will then increase from that point on. Have not gone home early yet. But I will soon


Thank you both for your comments
Aug 5, 2007 9:04 pm

drewski803,


I have an annual subscription to everything Sales Genie and the polk e-reverse directory has to offer, so far most calls have been residential. As far as appointments to be completely frank and honest, half or more are no shows. I counteract this by spending zero time preparing for the a first appointment, a question and answer session, unless it’s what I believe to be a high net worth person.


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Bondo,


Most of the time it’s the typical AGE general generic call unless they are a female with age (no pun) then I switch to a product call for a aaa muni, CD or some such.




Bobby,


I know…I thought an elaboration was in order and context for those in my newbie ranks.


Thank you for you time and interest. Getting back to the first post, it’s all inside. All between the ears. Now that I truly have my mind where it needs to be I’m going to kick some serious arse.
Aug 6, 2007 1:26 pm

Nice job keep up the good work.  I am going to mirror your efforts.

Aug 6, 2007 9:30 pm

I agree with your approach. I simply do not want to waste my time if they are not interested. I ask if I can mail some information. I put together a letter with some relevant information; therefore, I try to disqualify them because if they are on the fence about receiving my information it usually turns out that they are not interested when I call back. I make sure they are worthy of receiving my information. No one can tell me cold calling doesn't work. I have opened many good accounts through cold calling. If you want to be in this business you simply have to have the guts to talk to people you don't know.

Aug 6, 2007 9:45 pm
Stonewall:

I make sure they are worthy of receiving my information.



Is that the same as being sponge worthy?

Aug 7, 2007 8:11 pm

[quote=Gaddock]


drewski803,


I have an annual subscription to everything Sales Genie and the polk e-reverse directory has to offer, so far most calls have been residential. As far as appointments to be completely frank and honest, half or more are no shows. I counteract this by spending zero time preparing for the a first appointment, a question and answer session, unless it’s what I believe to be a high net worth person.


 <?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><?:NAMESPACE PREFIX = O />


Bondo,


Most of the time it’s the typical AGE general generic call unless they are a female with age (no pun) then I switch to a product call for a aaa muni, CD or some such.


[QUOTE]



Two questions for you regarding this reply.


1. What is AGE general generic call? Does AGE mean age or is it an acronym for something?



2. When I was cold calling everyday I called mostly with product. Just to understand you correctly, unless it is someone as you mentioned such as an elderly woman, you are usually calling with the intentions of landing an appointment?



Aug 7, 2007 9:02 pm

forgive me if this is stupid... but for what or How do you use the reverse directory, and what is the site address of polk?



thanks for the good posts



Aug 7, 2007 11:39 pm

I am so glad I work for a bank.  I sit at my desk and people call me, email me poke their head in my door, get introduced to me etc.  Some of them may not be qualified but it sounds a heck of a lot better than acting like a meathead and working 15 hour days,

Aug 7, 2007 11:48 pm
bornagainbankr:

I am so glad I work for a bank.  I sit at my desk and people call me, email me poke their head in my door, get introduced to me etc.  Some of them may not be qualified but it sounds a heck of a lot better than acting like a meathead and working 15 hour days,


Uh yeah. I work 6 hours a day and my income is about 300K.  You are a sh*theel.

Aug 8, 2007 8:20 am
bornagainbankr:

I am so glad I work for a bank.  I sit at my desk and people call me, email me poke their head in my door, get introduced to me etc.  Some of them may not be qualified but it sounds a heck of a lot better than acting like a meathead and working 15 hour days,


If that's what you have to tell yourself to keep from commiting suicide, so be it. There's lots of people like you who have failed to thrive and can only perform at their highest level by being told what to do. Don't be ashamed.

Aug 11, 2007 2:28 pm

Chris,


1 AGE is the symbol for AG Edwards, generic call is the call they teach you in training.



2 My first call is to get permission to send my card and make future calls but if its an elderly woman I tell her what our best CD rates are or the like to see if I can get her to talk. Subsequent calls are with a product that I think may be their hot button and to set an appointment


Malcom,


A reverse phone directory list people in order by number or by street address etc. Chances are you will see a big thick book in your office that is the POLK directory. Basically Sales Genie is Polk under another name utilizing the same functions plus a lot more.<?:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />


Bornagainbankr


I could have worked at a bank. Better yet I had an offer from Allstate as an EFS. I want more than a job working for somebody else and simply brining home a paycheck. I want to build an empire that’s mine. Something I can pass to my children. Like most things in life you get what you pay for. Go ask Merrill how much they will pay you for your book.


I had a great week. I graduated from training at the end of July. So far in August I’ve written 19 tickets and have just over $6k in gross. My manager is a very happy man. I have $50k I'm waiting for from a annuity (index annuity bought 8 years ago from a ‘bank broker’ the “meathead” put the annuity into a IRA and made the beneficiary the estate even though the guy has been married for 40 years. I took it by agent of record as well as the other $300K plus from BAC) it is only paying 3%. They guy doesn’t care about the surrender charges. Even the thought of that annuity ticks him off. We have agreed to put the proceeds into a UIT blend. That will put my gross up over $7k. I’m hoping for $9.


I'm trying to get my call volume up and manage my time much better.


 

Aug 11, 2007 2:37 pm

if you're happy sitting on your behind all day and limiting your income and payout, by all means, the bank is the way to go.  quite the entrepreneur you are.

Aug 11, 2007 2:41 pm

My calls are 10 times what they were in April May and June. I get better every day. BUT I also have to say that the market tanking has helped in a big way. Cold calling during a raging Bull market was tough. I got the feeling most people didn’t even want to talk to their own Broker when they were getting double-digit returns. A couple more weeks of this crazy volatility on top and I feel I can get way ahead of things.

Still having a 50% no show on the appointments. I’ll post my stats for the last two weeks once I’ve added them up.
Aug 11, 2007 5:34 pm
Gaddock:

My calls are 10 times what they were in April May and June. I get better every day. BUT I also have to say that the market tanking has helped in a big way. Cold calling during a raging Bull market was tough. I got the feeling most people didn’t even want to talk to their own Broker when they were getting double-digit returns. A couple more weeks of this crazy volatility on top and I feel I can get way ahead of things.


Still having a 50% no show on the appointments. I’ll post my stats for the last two weeks once I’ve added them up.


The market volatility of late, represents the best opportunity I've had to snag the accounts from brokers who sold on "high, steady returns". I love this market!