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If You Want To Be A Winner, Change Your COLD CALLING Philosophy Now!

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The 10 Minute MBA, is a no-fluff daily podcast that teaches you practical business lessons you can use to grow your business immediately.

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Welcome to the ten minute MBA. I'm your host, Scott Dclari. On the ten minute Mba I give you tools, techniques, strategies tips that you can use to start, scale or grow your business. Today I'm going to be walking you through some things that you should think about when you're trying to cold call potential clients. Now, one of the biggest challenges that people have in building a business is finding new clients, mostly because there's so many different ways that you can find clients. You can go to trade shows, you can email, you can message on Linkedin and you can also call. But calling is the most nerve racking thing and it's the thing that people usually want to do the least. But I would argue that it's still one of the most effective ways to get a sale, to get a deal. And why is that, you might ask? Well, it's because calling somebody, if...

...you can connect with them, it still has a personal element to it that an email or a linkedin message just does not have. Obviously, the best possible way is to go meet somebody in person, but with the current environment and the and obviously we're becoming more remote and more global, it's not always easy to go to a trade show or to sit down for lunch or dinner with somebody, and obviously it's a little bit time prohibitive and cost prohibit of to do this. So the next best thing building relationships with people, actually communicating talking to people, would be cold calling. Most people don't enjoy doing it. If you can get it and nail it and do it right, you will stand out and after a few hundred calls it will be as simple, honestly, as tying your shoes. Cold calling is effective and inexpensive and it can help you get a lot of new customers quickly. So first let's walk through some of the steps of cold calling and then we'll speak about some...

...best practices or mindset that you need to have going into cold calling. So first you have to get a list. You have to get a list of a specific type of customer that you're trying to sell to. So if you are pulling together a list, firstly you want to understand your customer profile. So what type of company are you selling to, what type of company size, what type of industry are they end company profile, or otherwise known as ideal customer profile, is not something new that is exclusive to calling you'd have to figure it out if you are marketing it to a certain audience segment. You'd have to figure out if you were emailing to a certain audience segment or even target a certain audience on Linkedin. You always have to figure out your customer profile and then you have to figure out your buyer persona, so the actual person within the company that you're trying to sell to who will be making the buying decision. So is it a CMO, chief marketing officer, CEO, Chief Executive Officer, director sales, director finance, chief legal officer,...

General Council? Who is it that's actually going to be buying your product or service? So, once you figure out the company and the person, you're going to get a list of these people. You're going to get a list of these avatars of these personas, and that is what you're going to use to call again. So there's various tools that you can use to pull lists. You can buy lists. I know when I first started in sales I was just going into a phone book, but I would suggest purchasing a list or potentially using a tool like signal higher to find the phone numbers of people who you want to reach. Out To. So, after you have this list, you're going to want to prepare. You're going to want to prepare by not only researching each and every individual who before you call, just a quick cursory review of who they are what they do so you can have an educated conversation with them, but you also want to put together a little bit of a script. not to sound like a robot, but remember, if you are starting cold calling for the first time, you are going to be...

...a little nervous. There are a million and one cold calling scripts that you can find online and, honestly, I'm a big advocate of Youtube and self study. If you are having trouble finding a script, go to youtube and look for the top rated video on cold calling scripts and there's a pretty good chance it'll be some pretty good information. And the script should include the points that you want to touch on, some of the information that you want to get out of the customer and then setting next steps so that you make sure that you build rapport you get the information that you need to get out of the call so that it's a good call and you can qualify the lead properly and then, most importantly, what are the next steps so what are you asking the customer to do, or what are you saying that we should be doing together? You know, Mrs Customer, to move this conversation forward. So you have these items written out just so that you don't forget. And if you do feel like you stumble and you cave under pressure, then you...

...can write out a script. Just be careful not to sound like a robot, because that is the first thing that will push someone away and make them hang up on you. After you've prepped, you have some sort of script or guideline for the call you need to call, call and call some more. You should set a number, a target number of calls based on the time that you've blocked for cold calling. So if you've blocked off two hours or four hours, set a target number of calls that you want to hit and make those calls and do not stop until you make that amount of calls in that period of time and try and time block so that you're hyper focused on making calls and getting through x amount of calls. If you feel like it's too overwhelming to start, then start off with doing five calls and then go perhaps get a drink of water, then do ten calls, then do, then do thirty calls and if you're getting a lot of hangups, that's okay. You just you'll start to understand how many meaningful conversations you're going to have throughout the day and how many short conversations or hang ups or voicemails,...

...and you'll start to understand what a good, productive day looks like. Set that as your target and try and beat that every single day. And let's not get a twist at the success rate per call is usually quite low. The real power lies in the fact that you can make a ton of calls in a relatively short period of time and after you have figured out your cadence for making calls, you know what a good amount of calls looks like and you're comfortable pounding the phone for a few hours at a time. You need to keep good record, so it's helpful to keep track of the following. No answer, call them back later. Follow up. If you're asked to call back for any reason, make a note of the reason. Then of course, definitely follow up, because a number one reason why sales people do not close deals is because they don't follow up when somebody asks them to follow up. And then thoroughly write down any other information about the prospect or the call or the interaction, such as perhaps they don't have the budget right now, or perhaps, even though you thought they were the best possible persona that you should reach out to, they actually weren't for a variety of reasons,...

...or perhaps they just didn't want to talk to you because they had a lot of other things going on in their day. Any of these things you should start to note, because these are going to be learnings for you as you repeatedly go out and call and prospect into your potential customer list. And then, lastly, evaluate yourself at the end of each session. Evaluate Yourself. How well did you do? What could you have done better? Take a really good, hard look at yourself, have some introspection, have some self awareness, because what will elevate your cold calling game, which will in turn increase the amount of revenue you close, is whether or not you are improving. And to improve you have to be aware of how well you're doing. And if you do this every single day for two or three hours, you will establish a proper process, you will get the information you need to improve your process, you will become more comfortable, more confident and all around better...

...caller, while simultaneously just being more efficient and effective. So a few other things that I just want to point out. That our good mindset things when you're going to start cold calling prospects. Actually let's do one tactical thing and then a few mindset things. So first tactical thing. Cold calling should be part of a total, a total holistic sales process. I do not believe that it makes sense for you to just cold call. I think that you're leaving a lot of potential opportunity on the table. So if you are cold calling, you should also be sending emails. You should also be prospecting on Linkedin. Ideally, if you're talking about a larger product or an enterprise sale, be to be enterprise sale. You would actually be calling, emailing and prospecting on Linkedin all against the same potential customer. But I would still say even if you aren't always hitting the same customer across three or more mediums, you should definitely be running a campaign on email, running a campaign on Linkedin...

...and cold calling. But it does help a little bit if you are working off the same list because that means you will be top of mind for whoever you're trying to get in touch with ad so now let's move on to a few mindset things. So number one, you're going to face a lot of rejection. Embrace that rejection. It's going to make you a better salesperson. If you are scared of rejection, you're going to have a tough time really improving your game because you're just not going to lean into it. So actionable item. If somebody rejects you, know that that's part of the game. Everybody gets rejected, but ask them why they don't want to talk to you. Just say that you're trying to improve and you're trying to grow your business from scratch and you need some feedback, and they'll give you honest feedback and they'll actually, funny enough, now engage in a conversation because they sympathize that you're trying your best. Not a hundred percent of people are going to do this, but if you ask why they don't want to t talk to you...

...and explain you're coming from a place of trying to learn and understand, you will get some very positive feedback and you'll probably actually build some connections. And also, I would say I would role play with peers. I would cold call, leave voice mails and then listen to them, and listen to them from the perspective of somebody who isn't calling. Leave yourself a voicemail and listen to it and think what I actually respond to that if somebody left me that voice mail. Second Mindset thing. You always have to go in being a human, not a robot. We spoke about scripts. Scripts are great to guide you, to keep you on track. I cannot tell you and reinforce this enough. You are a human selling to another human. Of course you have your points you want to hit, but please be a human. It is much better for you to stumble as a human then sound like a robot, because people are empathetic to humans who are trying to do their job. They are less forgiving for somebody who sounds like they're reading from a list.

So it's good to practice your script as well so that you don't sound like a robot. Practice your points, memorize, run some practice call, some role playing, some demo calls ahead of the actual calls so that you sound more like a human, because the more you practice, practice makes perfect. Even if you are reading from a list of points, you will start to sound more human, just because you're more comfortable with the actual content that you're discussing with the person you're trying to reach to reach out to. And lastly, whenever you start calling, focus on learning before sales, and this is really important because people who focus on sales get discouraged because I can guarantee you when you first start coal calling, you're going to suck at it. You're really going to suck at it and you're going to be nervous as hell and it's going to feel like absolute just not a good time because it's intimidating having live conversations with somebody who doesn't want about, doesn't want to talk to you.

That's an intimidating thing. So focus on learning being the end result versus selling being the end result, and tie you your own success to how much you learned, how much you took away, how much that you after the end of the day, you were able to think through and focus on certain points you could potentially improve. Don't focus on how many sales you made, because if you always focus on sales you made, especially day one, you're going to get highly discouraged. And with such a difficult task, combined with the fact that you could be discouraged. It doesn't make for a very positive mental state when you need to be in a good place to be able to cold call and sell effectively. So focus on learning. Learning should be the KPI day one, until you are comfortable, you have a cadence, you know what good looks like, you have your Kpis, you are making sales, then you can focus on improving your numbers, but focus on learning first and sales second. anyways, that's it, a little primer on a cold...

...calling. Hopefully that helps people make their first calls and can get you your first sale. Remember if you have any business questions, any start up questions, don't worry, I got you. This has been another ten minute and bea have a great night. I'll see you tomorrow. Great night. I'll see you tomorrow. Great.

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