27th June 2007
By Sean Cheyney , American CEO
The proper cold call tactics are crucial in reaching the right person in the right way.
You're sitting in your office buried in work when the phone rings. Although you don't recognize the number, you reluctantly pick it up. Immediately, the person on the other ends starts in on a "canned" pitch. You roll your eyes and wait for a pause on the other end so you can politely express disinterest. Sound familiar?
As our company continues to grow, the number of cold calls I receive on a weekly basis has grown exponentially. While a few of these cold calls have resulted in millions of dollars of annual media spend, nine out of 10 cold calls simply leave a bad taste in my mouth.
Even though this column could probably be titled "Use Common Sense," it seems that common sense has gone completely out the window with an increasing number of companies.
Take notice. These tips may mean the difference between landing a multimillion-dollar media buy or annoying your prospect and generating negative buzz for your company.
I've noticed a growing trend of poorly trained salespeople who think they know everything about marketing and that their company is the perfect fit for every marketer on the planet. Confidence is admirable, but telling a prospect that you know more than they do about what is right for their business is ridiculous. If this is your approach, read: "How to Win Friends and Influence People" by Dale Carnegie before picking up the phone ever again.
Along these same lines, don't ask to speak with the CMO or CEO if you don't like the response you receive from your prospect. Remember, you're trying to enter into a business relationship not talk to customer service to get a credit on your cellphone bill. More than a dozen times in the last year, I've had a salesperson leave a voice mail for our CEO because I made the decision not to do business with their company. This tactic will completely eliminate any chance of doing business with your prospect's company. The same holds true for running to the client directly after their agency says "no" and visa versa.
The key is that "no" often means "not now," but insulting your prospect will result in "no" meaning "never in a million years."
I'm a busy person and so are most marketers. I don't have the time or patience to listen to a long, rambling, drawn-out cold call voice mail message. When it comes to voice mail, be prepared. Most of your calls are going to end up there, so practice what you're going to say. A good rule of thumb is to keep your message to 45 seconds or less. A four minute rambling message will land itself in the trash bin before your prospect even listens to the whole message.
What's even worse than a rambler is the salesperson who doesn't speak clearly. At least once per day, I receive a voice mail from someone who has left a good, concise elevator pitch and has my interest. The problem is that the salesperson mumbled and rushed through their name, company name and phone number so badly that I had no way to return the call. Slow down and speak clearly so that your prospect has an opportunity to write down your name, company name and phone number without having to rewind the message three times.
The most common way to screw up a cold call is to not know anything about your prospect's business. You don't need to be an expert, but at the very least take two minutes to visit your prospect's website. As a life insurance brokerage, I receive daily cold calls from people who think our company sells auto insurance, health insurance, or they think we're a stock brokerage firm. A simple two-minute visit to our website would be time well spent.
Want to be a superstar and make a great impression 90 percent of the time? Do research and find out what type of advertising your prospect's company is engaged in. The question: "Are you doing any online advertising?" immediately tells me that the salesperson did not do their homework. If the salesperson hasn't taken the time to understand what we're already doing, then it is extremely unlikely that they will earn my business.
It drives me nuts when I pick up the phone and a salesperson launches into a pitch before I have a chance to say hello. Sixty seconds later, I'm waiting for the salesperson to breathe…60 seconds more and still waiting…still waiting…still waiting. Just like consumers don't want to be talked to but instead want to engage in a dialogue, your prospect is no different. If you talk at me, you'll annoy me. Talk with me and you have a shot.
All things being equal, I'm going to buy media from someone I like and trust versus someone I don't like or trust. If you've done your homework and know a little about my business and where I'm advertising, I'm going to spend time with you on the phone because you've respected my time and I respect your effort. Ask questions that relate to my business and we can flesh out whether a business relationship is going to be a great fit. I've had plenty of people engage in a dialogue with me and determine that their company isn't going to be a good fit for my business. Many of these same people have easily earned my business months or years later when they had something to present that was a good fit.
I look forward to many great and mutually beneficial cold calls in the future!