Cold Calling 101 “Eat What You Kill”

Presented by Jim Wells, Enterprise Sales Expert

JD Wells Consultants, LLC

ProductCamp Austin 14 March 7, 2015

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Sales Clichés

“Smile and Dial”

“Dialing for Dollars”

“It’s a Numbers Game”

“You Have to Get 9 No’s to Get a Yes”

“ABC – Always Be Closing”

“Coffee is for Closers” “Eat What You Kill”

“A-B-C. A – Always, B – Be, C – Closing. ALWAYS BE CLOSING.”

“A-I-D-A. Attention, Interest, Decision, Action. You close or you hit the bricks.”

What is Cold Calling?

The process of systematically communicating with your list of suspects to qualify opportunities with clients who can realize the value proposition of your products and services.

Definitions

•  Suspects – the complete list of possible customers in your company’s universe

•  Value Proposition – the statement of value that your customers receive when utilizing your product or service

•  Opportunity Qualification Criteria – your checklist of criteria that must be met in order to determine that an opportunity is real and worth committing your valuable resources to pursue

•  Qualified Opportunity – an opportunity with one of your suspects that meets your opportunity qualification criteria

Why Cold Calling Fails

•  Call reluctance

•  No systematic process

•  You are calling the wrong suspects

•  Your value proposition is not applicable to a significant number of your suspects

“If you want them off the phone so bad, why don’t you just hang up? You should get them excited. They should beg for a broker on the first call.”

Cold Calling Basics

•  Cold calling is about selling an appointment, not about selling your product or service.

•  Establish a repeatable process and execute it with discipline.

•  Grow a thick skin and develop a short memory.

•  Always, always, always start at the top.

•  Clearly and concisely request a meeting.

The Cold Calling Process

•  Identify the target market – the Suspects.

•  Determine what will grab the attention of a typical executive in the world of your suspects.

•  Develop a succinct statement of value.

•  Develop proof sources that demonstrate your value proposition.

•  Use a script!

Grabbing Attention

•  Your attention grabber should be relevant to your industry, but should NOT be directly related to your product or service.

•  Executives care about three things: •  Increasing revenue •  Reducing cost •  Reducing risk

Wireless Data Applications Penetrate the Corporate Business Environment

Center for Telecom Management, Marshall School of Business, University of Southern California, 3/1/2003

CIOs Across Many Industries are Utilizing Wireless Data Applications toStreamline Business Processes

Charles Nettles, chief technical executive at the huge medical supply company McKesson Corp., said the company has continued to expand the role that wireless

plays in its business. It started with Symbol Technologies to keep track of warehouse materials, went to sales force automation, and now is entering its

relationships with physicians and hospitals.

Joseph Ferra, chief wireless officer for Fidelity Investments, also started with a targeted application-selling its stock alerts to retail brokers-and quickly decided there was a broader audience. In 1999, Fidelity Anywhere was launched that included brokerage and other services for its customers. It initially was launched using Blackberry devices and now has added Palm devices and phones.

Stephen Poppe, CIO, Roto-Rooter Services Co., said most of his company's services are done on an emergency basis, so its employees need to act quickly. Roto-Rooter started with one-way pagers. It recently added wireless service and phones with assisted-GPS so that the dispatchers know where the repairmen are located and can get them to the job site quickly.

John Thompson, executive vice president of Crossmark, said the company's large nationwide sales force needs to communicate, coordinate and collaborate quickly. After it implemented a wireless collaboration tool, Thompson said, sales increases 500 percent over the cost of implementation.

Roger Ham, CIO of the Los Angeles Police Department, said he recently completed a $265 million installation of two communications centers that included a private radio network for voice and a data backbone.

Wireless Week, “CIOs Big Fans Of Wireless Data,” 3/18/2003

Is Your Business Taking Advantage of Wireless Data?

Example Grabber

Wireless Data Applications Penetrate the Corporate Business Environment

Center for Telecom Management, Marshall School of Business, University of Southern California, 3/1/2003

CIOs Across Many Industries are Utilizing Wireless Data Applications toStreamline Business Processes

Charles Nettles, chief technical executive at the huge medical supply company McKesson Corp., said the company has continued to expand the role that wireless

plays in its business. It started with Symbol Technologies to keep track of warehouse materials, went to sales force automation, and now is entering its

relationships with physicians and hospitals.

Joseph Ferra, chief wireless officer for Fidelity Investments, also started with a targeted application-selling its stock alerts to retail brokers-and quickly decided there was a broader audience. In 1999, Fidelity Anywhere was launched that included brokerage and other services for its customers. It initially was launched using Blackberry devices and now has added Palm devices and phones.

Stephen Poppe, CIO, Roto-Rooter Services Co., said most of his company's services are done on an emergency basis, so its employees need to act quickly. Roto-Rooter started with one-way pagers. It recently added wireless service and phones with assisted-GPS so that the dispatchers know where the repairmen are located and can get them to the job site quickly.

John Thompson, executive vice president of Crossmark, said the company's large nationwide sales force needs to communicate, coordinate and collaborate quickly. After it implemented a wireless collaboration tool, Thompson said, sales increases 500 percent over the cost of implementation.

Roger Ham, CIO of the Los Angeles Police Department, said he recently completed a $265 million installation of two communications centers that included a private radio network for voice and a data backbone.

Wireless Week, “CIOs Big Fans Of Wireless Data,” 3/18/2003

Is Your Business Taking Advantage of Wireless Data?

Value Statement

•  Answers the questions: •  Who your company is

•  What your company does •  What benefits your company delivers

•  Should be short and succinct

Proof Sources

•  The best proof source is a satisfied customer that is willing to write you a letter of recommendation that you can share with prospects.

•  Case studies also make good proof sources.

•  A proof source that mentions you by name is very powerful.

Benefits of Using a Script

•  It maximizes your impact while minimizing your time spent.

•  It guarantees that you will include all of the most critical parts of your message.

•  It keeps you focused and helps you to avoid bad habits.

“There is no such thing as a no sale call. A sale is made on every call you make. Either you sell the client some stock or he sells you a reason he can’t. “

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