Why Cold Calling Still Works — If You Do This First
No one likes cold calling. Indeed, quite a few sales leaders believe that cold calling should never happen within business and sales. I abide by the theory that once your business is established, if your marketing plan is well coordinated and consistent, then indeed you shouldn’t have to rely on cold calling. However, there are some situations where cold calling can definitely be beneficial if its handled correctly. The trick is to maximize your chances by warming up your prospective clients before you even touch the telephone, giving them a level of familiarity with you and your business. Telephone Last. At the very least, send your prospective clients something in the mail. A letter or postcard would be most likely, but it could be a thank-you card or an article you have written on your company website. This would ideally be something personalized for the recipient, beginning with something like “Dear (person’s name)” rather than “Dear Business Owner.” The purpose of this mail-out is to differentiate you from a telemarketer, break the ice with the client and, possibly, give them a chance to prepare for your call. This tactic may seem outdated in today’s age, but it can help you separate from the competition, leading us to our next point. Be Memorable. You are not trying to sell your firm in this mail-out. You are just breaking the ice with the client, as you have possibly never communicated with them before. You will reference the mail-out when you call them directly, so you don’t want it going straight in the bin. Keep your mail-out brief, personal and memorable. Branding, colors and layout can certainly help. However, the best two tactics are (a) a brief, handwritten personal message (or at the very least a personal signature) and (b) a fact that leaves the prospective client wondering more about your services. Think performance statistics, awards, volumes of sales, number of clients, topical items in the news. Something that makes the client think that they might just be missing out on something big that they will want to be a part of… Be Valuable. You will have a significantly better hit-rate if you offer the client something of value. Remember, value means getting something for less than its worth. You aren’t offering value if you are just selling a service and charging a fair price. That isn’t value, its just a fair price, and the client is going to want something better than that. Everyone likes a bargain or, even better, something free. So, in your initial mail-out, offer your client something extra BEFORE you even start your sales process. This doesn’t have to cost you a fortune, and ideally, it should be something that links back to your business. Maybe it’s “free” access to research, maybe it’s a “free” copy of a presentation, maybe it’s a “free” invite to a seminar, maybe it’s a “free” copy of an article of relevance to their industry. You reap what you sow. Most prospective clients will highly value anything you give them for free. Those that don’t, well, you don’t want them as clients anyway. Remember, brochures and advertisements are not value, they are advertising. You have to give the client something they can utilize themselves. Be Specific. In your mail-out, don’t say “I will call you in the next week.” Instead, say “I will call you at (time) on (day), (date). If this time doesn’t work for you, please contact me at (phone number) to reschedule.” Again, this makes you sound less like an anonymous telemarketer and creates an impression that your time is also valuable. Then, call at that time. Keep your word. If the client is not there, leave a message stating you will re-call them at another specific time and date. If you are still not getting through on that second call, only then would you leave a message saying that you will call back “in the next week or so.” I would then send a second mail-out to the client, noting that you have not had luck contact them, and including a second piece of value, such as another article, a copy of an interview, or a presentation. Then, after you know they will have received that second mail-out, call a third time. If you still aren’t getting a response, it might be time to move on for a while. But don’t write them off entirely. Give them a few months, then start the process again with another value mail-out. This process isn’t costing you much and no one said this would be easy, persistence pays off in the long run. Be Topical. If you can, time your mail-out carefully. Think about the time of year for your prospective client. December is generally bad for everyone, June can be bad for accountants, January can be bad for executives, school holidays can be bad for families. Pick your moment, prepare your materials, and book time in your schedule well in advance. As the time gets closer, do a last minute search of topical items or news events in your prospective client’s industry and latch onto that in your mail-out. Even if the link is tenuous, remember that all you want to do is get your client remembering your mail-out, your company and what it stands for, and have the ice slightly broken when you call them. No-one enjoys cold calling and, hopefully, once you are established, your marketing plans will not require its use. But, with a little extra effort you can defrost your cold prospects and enjoy a much warmer reception. The process of sending mail-outs isn’t always quick, but patience and persistence will pay off.