The New Rules of Cold Calling:How to Set More Appointments, Faster

Cold calling is increasingly an uphill battle. Today’s sales reps constantly ask themselves:

Is cold calling worth my time and energy?

Will prospects take my calls and be willing to talk?

Is cold calling as effective as other prospecting channels, like referrals or email marketing?

Does cold calling really still work?

If you’re using the same old approach to cold calling that reps have been using for years…

…the answer to those questions is a resounding “no.”

But if you follow The New Rules of Cold Calling, you can successfully...

...master the art of cold call efficiency.

...get more prospects to open up on the phone.

…make cold calling an effective component of a robust biz-dev strategy.

...set more appointments that lead to more sales.

RULE No. 1:Start with a Good Call List

OLD RULE:

NEW RULE:

WHY:

Call as many prospects as you can.

Take the time to create a targeted list of your highest-value prospects.

When you call indiscriminately, you waste time on “bad” prospects who will never buy from you because they don’t stand to benefit from what you offer. A list of good prospects leads to a higher success rate.

What do your existing customers look like?

Are they small, medium, or large businesses?

What industries do they represent?

Do they own or lease their space?

Do they occupy high-rise offices, industrial space, or work from home?

To create a defined target market, start with prospects you already know have a high likelihood of buying from you: the ones that look like your current clients.

TARGET MARKETS 101

Wise Guys Tip

From a client profile in BWise, click “Find Like” to pull up a list of similar companies!

RULE No. 2:Research Wastes Time

OLD RULE:

NEW RULE:

WHY:

Research your prospects thoroughly before you call them.

Profile your prospects according to categories to maximize efficiency.

Detailed research about a specific company on your list takes time. And the less time you spend on the phone, the higher your success rate needs to be to set the same number of appointments.

You have a finite amount of time to devote to cold calling. Your goal is to maximize the percentage of that time you spend on the phone with good prospects.

THE COLD CALLING “CLOCK”

CALL TIME(Maximize)

RESEARCH TIME(Minimize)

A list of similarly situated firms makes cold calling much more efficient.

Call your prospects according to general categories, and focus on common priorities and challenges.

Wise Guys Tip

RULE No. 3:Don’t Sell Your Product

OLD RULE:

NEW RULE:

WHY:

Sell your prospect on the benefits of your product.

Focus on what your prospect wants and needs, and sell the benefits of an appointment.

Prospects don’t care about your product; they care about their own problems. Focus on getting to the next step in the process by offering to discuss challenges and solutions, no strings attached.

WHAT ARE THE BENEFITS OF AN APPOINTMENT?

Free knowledge (an opportunity to get good new ideas)

No strings attached (you may not be the right fit)

Two-way street (you both stand to benefit from an honest & open discussion)

Wise Guys Tip

You’re not going to close a complex B2B sale on your first (or second) call.

Focus on getting to the next step in the process (an appointment) rather than the final step (a sale).

RULE No. 4:Take “No” for an Answer

OLD RULE:

NEW RULE:

WHY:

View every prospect as a potential appointment, and don’t give up.

Don’t focus on individual prospects; focus on total appointments.

You’ll set more appointments faster if you spend your valuable time talking to prospects who are likely to say “yes,” rather than wasting time trying to convince prospects who resist.

Again, your cold calling time is finite. Every extra second you spend on a definite “no” takes time away from a possible “yes.”

GOOD PROSPECT / BAD PROSPECT

Don’t aim to set an appointment with every prospect. Aim to set as many appointments—with as many good prospects—as you can.

Even when your prospect offers heavy resistance, you can keep your chances alive while moving on to a riper opportunity.

3-6-9 Approach: At the end of your call, ask your prospect “3, 6, or 9?” When they ask you what you mean, say “When would you be open to revisiting these ideas?” Let your prospect define the timeframe (days,

weeks, months).

Wise Guys Tip

RULE No. 5:Scrap the Old Script

OLD RULE:

NEW RULE:

WHY:

Memorize a rigid script.

Be situational, flexible, and conversational. Ask questions, and listen more than you talk.

Most scripts are stilted, outdated, and useless. When you encourage your prospect to talk about their challenges and priorities and listen to what they say, your prospects will see value in meeting with you.

COLD CALLING MYTHS & FACTS

MYTH:

Start with a formal greeting (“Hello Mrs. Jones”).

Introduce yourself and your company.

Be sure to thank your prospect for their time.

State the purpose of your call in question form (“If I told you I could help you do X, would you be interested?”).

Offer two times to choose from.

FACT:

Formality can be pandering. Be collegial and respectful. Address prospects by their first names.

Friction reduces your chances for success. Be clear that you haven’t met, and ask if they have a minute.

You may only have a few seconds on the phone with your prospect. Use your time wisely.

Avoid gimmicks. Tell your prospect why you’re calling.

Avoid gimmicks (again). Pull up your calendar and choose a mutually convenient time.

Wise Guys Tip

It’s okay to memorize short, situational scripts that help you get past the gatekeeper or navigate a conversation.

Regular role playing is the best way to sharpen your skills and ensure your approach to cold calling remains flexible

and conversational.

WRAP-UP

RULE No. 1: Start with a Good List (so you spend your valuable time on prospects who are likely to say “yes”)

RULE No. 2: Research Wastes Time (when you research every company on your list—research broad categories for more efficient cold calling)

RULE No. 3: Don’t Sell Your Product (because your prospect doesn’t care—sell the benefits of an appointment instead)

RULE No. 4: Take “No” for an Answer (so you can make more calls to higher-value prospects)

RULE No. 5: Scrap the Old Script (and replace it with a flexible, situational approach that encourages your prospect to do the talking)

When you follow the New Rules of Cold Calling, you make cold calling more efficient and successful, and you set more appointments that lead to more sales:

The New Rules of Cold Calling:How to Set More Appointments, Faster

© Business Wise Inc. 2016

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