Cold calling revisited

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Aug 16, 2010 5:59 pm

So I am thinking it's a good time to start this back up again. Anyone have any suggestions for buying a residential lead list (Sales Genie, etc.)? Back in the day the mutual fund companies would provide some but I would guess this isn't the case now.

Aug 16, 2010 6:34 pm

I'll bet cash you never do it.

Aug 17, 2010 8:03 am

[quote=Gordon Gekko]

So I am thinking it's a good time to start this back up again. Anyone have any suggestions for buying a residential lead list (Sales Genie, etc.)? Back in the day the mutual fund companies would provide some but I would guess this isn't the case now.

[/quote]

I don't think it would be very wise

Aug 17, 2010 10:40 am

[quote=RR editor]

Here is an article we recently did on the subject of cold calling...

http://registeredrep.com/marketing/cold_calling_is_back0201/index.html

The opening paragraphs:

If you visit William Mundy at his Blue Bell, Pa. office, chances are good you’ll find him with his ear pressed to the phone, pitching his services to people he’s never met: That’s right, cold calling. Mundy, a financial advisor with Merrill Lynch who has been in the business since 2002, spends about 30 to 35 hours a week dialing for dollars and he says it’s time well spent. In fact, these days, oddly enough, he’s finding a lot more willingness on the other end of the line to hear him out. “Cold calling is how I built my practice,” says Mundy, who manages about $52 million in assets. “But, people are a lot more likely to take my phone call now than 12 months ago,” he says. While Mundy also engages in the usual networking strategies to drum up new business, 65 percent of his clients have come to him either directly through cold calls or through referrals from those clients.

You might have thought cold calling for clients was dead. These days, most wealth management coaches will tell you it’s all about referrals and making wealthy connections and friends at country clubs and local charities. But in some corners of the industry, cold calling is still very much alive and well, in spite of the popularity of the National Do Not Call Registry, established by federal law in 2008. Indeed, Mundy is not the only advisor who says these are the best of times for cold calling. That’s because many prospects, recently savaged by the market’s decline, are still disappointed by their current advisors’ performance and more receptive than they might have been during better days to a well-timed approach from a friendly, confident professional.

“They’re more open to a call now,” agrees William Chettle, a marketing expert with Loring Ward, an asset management provider in San Jose, Calif.

[/quote]

Good stuff! THX for posting!

Aug 17, 2010 3:52 pm

[quote=markie]

[quote=Gordon Gekko]

So I am thinking it's a good time to start this back up again. Anyone have any suggestions for buying a residential lead list (Sales Genie, etc.)? Back in the day the mutual fund companies would provide some but I would guess this isn't the case now.

[/quote

I don't think it would be very wise

[/quote]

That is because you are a clown!

Aug 17, 2010 4:06 pm

Gordon, I thought the same as you about this time last year. Same company I'd ordered leads from, pre 2003. Well, it turned out that in the zips I wanted, about 90% of folks were on the national DNC list. Instead, we are focusing more on client events, seminars, and referrals. I've also spent years at a club, and the results are now showing up. In the case of my operation, I only need one or two good households per month or two. The free time now, well, may as well just play golf...and hang out with the rich folk that I'm hoping to get.

Aug 17, 2010 5:58 pm

Now that's wise.

Sep 7, 2010 5:55 pm

After buying countless ‘Prescreened & prequalified’ lists and finding over and over again that most of the numbers were on the DNC list and of those I reached most of the information was inaccurate, I decided to dump the lists.

 

I currently use Gryphon, which automatically checks for DNC and the white pages.  I can easily dial 100+ numbers in a hour.  80% will be on DNC, but the Gryphon system automatically rejects those numbers and prompts you for the next one.  You have to get really good at qualifying quickly (because EVERYBODY is in the white pages) but you also reach good people who would never show up on a purchased list, and who never get calls. 

 

Limitless leads, and your only cost is the Gryphon system, which your BD probably already has a deal with.

Sep 17, 2010 3:48 pm

[quote=volunteer78]

After buying countless ‘Prescreened & prequalified’ lists and finding over and over again that most of the numbers were on the DNC list and of those I reached most of the information was inaccurate, I decided to dump the lists.

 

I currently use Gryphon, which automatically checks for DNC and the white pages.  I can easily dial 100+ numbers in a hour.  80% will be on DNC, but the Gryphon system automatically rejects those numbers and prompts you for the next one.  You have to get really good at qualifying quickly (because EVERYBODY is in the white pages) but you also reach good people who would never show up on a purchased list, and who never get calls. 

 

Limitless leads, and your only cost is the Gryphon system, which your BD probably already has a deal with.

[/quote]

Do you have a website or the full name?