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By Dennis R. Kyle, Founder, www.PositiveResults.com.
If you’ve ever been fishing, then you know the dedication it can take to catch your first fish on any given day. I specifically remember many occasions as a boy fishing with my father in Lake Erie and literally spending hours waiting for the first bite.
It is the dedication and the excitement of catching the first fish that keeps fisherpersons glued to their seats and patiently waiting the arrival of the first bite. Why then is it so difficult in cold calling to wait for that first opportunity to arise? It seems a salesperson often becomes impatient waiting for her successes when fishing for new clients.
The same dedication used in fishing must exist in cold calling in order to be an avid and successful cold caller. Too often, a salesperson finds himself frustrated and disheartened by the mere thought of having to invest an hour or two of his time searching for the first interested bite. Prospecting, like fishing, requires that you find the fun in the game. Cold calling is so difficult because salespeople fail to plan what they're going to say prior to making their initial cold call.
Making this mistake is like a fisherperson attempting to head out on the waters without proper equipment, food and water, and enough gasoline to get them in and out of the dock. So how do you create a game plan that helps you succeed in cold calling?
Three things that must exist for a successful cold call:
- Plan your goal
This is a simple procedure but often overlooked. Simply ask yourself what you want to accomplish by the end of your initial conversation. For example, some goals may be to generate appointments, or send information? What are yours? The main thing you want to remember when setting your goal is it should be action oriented. You want to know by the time you hang up the telephone that you've accomplished something that moves the relationship forward.
- Design your hook phrase
Anybody you’re cold calling is not expecting to receive your telephone call at that exact moment. For this reason, you must prepare yourself to gain their attention as quickly as possible. How do you do this? I'm not sure there's a simple answer; however, you should use the WIIFT principle: What's In It For Them. Remember, in sales, your customers always want to know what's in it for them.
If you cannot clearly define what’s in it for your customer, you will certainly be met with roadblocks. The important thing to focus on when you're designing your hook phrase is realism.
In other words, you can't tell somebody you're guaranteeing 50 percent return on investment if you can only guarantee 10 percent. Although 50 percent sounds incredible and may catch a few people, it will cost you more difficulties in the long run. Therefore, at all times, and in all situations maintain your integrity.
You may wish to design several hook phrases and try them to see which one has the most impact. Your hook phrase should be simple and have a value proposition in it.
For instance, “Mr. Prospect, our new waste management control system has helped organizations just like ABC to reduce waste by 33 percent. Through an analysis I'd like to show you how we can impact your bottom line and save you money.”
- Identifying needs
Too often, sales professionals when making cold calls attempt to present their idea. Your goal in the initial cold call is not to spend your time talking and telling the person why they should buy. Instead, you need to be qualifying and asking lots of need based questions to identify potential opportunities. If you find yourself presenting your idea to the Prospect on a cold call, you're losing critical opportunities and the Prospect’s attention is elsewhere. Most likely it is on how to get you off the phone.
You should know specifically what value propositions your product or service brings to potential clients prior to making cold calls. Convert your value propositions into questions that identify needs that match the value you offer. You'll have more success in cold calling. The conversation in the cold call should be give-and-take. You ask them a need-based question, listen for a response, and provide a value proposition based on their need. While you identify needs, keep the goal of your phone call in mind. If it is to secure an appointment, you want to establish enough needs that you can transition the conversation into asking for an appointment.
Fishing for Prospects
This article's focus is simple. Cold calling can be a long and tedious process. Your goal is not to sell in a cold call, unless you're in the business of a one call close. Your goal with the cold call should be to qualify and identify needs. As the fisherperson may be surrounded by hundreds of fish, only a few may be hungry. As in cold calling, each day you may be presented with a variety of potential prospects, but only a few may materialize into quality leads on that day.
Remember that in cold calling you must search out the hungry Prospect and hook them. Don't be let down by the numbers. Cold calling takes a relentless attitude and pure dedication. You may literally spend hours fishing for your first Prospect when cold calling.
However, if you remember to clearly define a goal for your call, create a quality catch phrase that is based on the WIIFT principle, and focus on identifying needs, the Prospects you acquire through cold calling will be viable opportunities.
The tight economy we’re in today warrants learning or relearning how to cold call. The art of cold calling will save your career in these difficult times.
It will also separate you from your competition. Trust me when I say, the longer you wait for the economy to recover, the sooner your failure is inevitable. Learn how to make it through these tough times. Work harder than you've ever worked before and the benefits you gain will be worth it.
Dennis Kyle consultant, national motivational speaker, and sales trainer is
also known as the B2B Sales Expert. Dennis founded Positive Results, Inc. in
1994 training and motivating Fortune 500 and small companies with custom
on-site programs and open seated seminars. Dennis is a Professional member
of National Speakers Association, and has authored books, newsletters,
videos and conducts on-line training. Dennis can be reached at
1.800.926.5953. Sign up for his free email newsletter at
www.positiveresults.com/mailing.htm
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