Business Owners

Feb 22, 2005 4:12 pm

Any tips on cold calling businesses to speak to the owners re: their personal accounts or their corporate (cash mgm't, retirement plans) accounts?

Feb 23, 2005 4:37 am

[quote=frumhere]

Any tips on cold calling businesses to speak to the owners re: their personal accounts or their corporate (cash mgm't, retirement plans) accounts?

[/quote]

yah....pick up the phone and start dialing....

Feb 24, 2005 3:02 pm

thanks Sonny.

Great response Joe.  your insight in appreciated

Mar 1, 2005 4:10 pm

My philosophy is to call them with a product to get their attention, such   index annuities and then make a brief appointment.On the appointment, explain your background, what you do for clients, why they should do business with your firm.Then say "before I explain the program to you it would help to know..."

Works almost every time. I don't go there to sell the solution I called with initially, I profile them and look for pain or dissatisfaction with their current situation, then craft a solution.

I go for their personal stuff first, then ask when was the last time they reviewed their 401(k), buy sell agmts, etc.

Business owners are used to writing big checks, have multiple needs, usually don't need to "talk to the wife first", can make a decision, and are a daytime activity. Many reps will say cold calling business owners is  a waste of time because of the gatekeepers, they get hammered,etc. These are reps who are nothing, will never be anything, stuck in their comfort zone. If you want a school teachers income, prospect school teachers. If you want a millionaires income, prospect millionaires.

I make 15- 20 contacts with owners 4 days a week, and get around 8 appts.

Hope this helps.

Stok

Mar 1, 2005 11:01 pm

Gatekeepers are a piece of cake!  In my previous sales life, I was working for a services company calling Fortune 1000 companies to talk to the top VPs in the company to pitch my services (we were somewhat of a startup).  I can get past just about any gatekeeper.  I broke into companies like Radio Shack, Kinko's, First Data Corp.... etc.

Mar 3, 2005 12:54 am

I don’t typically take phone calls from wholesalers between 9:00am and
4:00 pm.  So, I usually just get a few messeges at the end of the
day from them.  Well, I got a messege from one of the assistants
claiming an old fraternity brother of mine was on the phone, one I have
not talked to since college, I grabbed the line anxious to see who it
was and it was a internal wholesaler!  I gave him shakes and am
looking at a few of his products! 



I thought I would give it a shot.  I called an old friend of mine
who is a lawyer with 2 sectretaries…I mean he is REALLY tough to get
through to…I did the same gig and bam- he picked up the line! 
We had a laugh.

Mar 8, 2005 8:52 pm

Thanks for all of your input.  I am used to cold calling personal residences and have decided to cold call businesses.

Mar 11, 2005 2:43 am

I prefere to cold call business owners and professionals like CPAs, MDs, and Lawyers.

I just mention them that I was visitin other client in the area. Some times I mention the name of the BO I visit before.

Introduce my self and my firm (which is a local bank bd) and agree to meet with them again soon for an idea, presentation or fact finding session.

Mar 16, 2005 4:42 pm

[quote=rightway]I don't typically take phone calls from wholesalers between 9:00am and 4:00 pm.  So, I usually just get a few messeges at the end of the day from them.  Well, I got a messege from one of the assistants claiming an old fraternity brother of mine was on the phone, one I have not talked to since college, I grabbed the line anxious to see who it was and it was a internal wholesaler!  I gave him shakes and am looking at a few of his products! 

I thought I would give it a shot.  I called an old friend of mine who is a lawyer with 2 sectretaries...I mean he is REALLY tough to get through to...I did the same gig and bam- he picked up the line!  We had a laugh.
[/quote]

Oh yes, I have used this technique in some form or another many times in the past when I use to call large corps.  Another trick, is to call in the evenings or early mornings, basically odd working hours.  Most of the time, you can get them directly on the phone because their assistant is not in the office.

Jan 26, 2006 8:13 pm

What is the best thing to say once I get the doctor on the phone.  I get past the gate keepers no problem just by saying I'm calling in regards to his pension.  Now what should I say regarding his pension that should atleast get me an appt?

Jan 27, 2006 1:32 am

Personally, I think cold calling is a waste.  Especially if you are in a smaller community.  I say get involved in the Chamber of Commerce and some civic clubs.  Get out and meet people.

I think the idea of calling an saying you are an old frat buddy is neat, but I bet a lot of prospects wouldn't and you could get a bad reputation quick.