The Missing Link
Rachel West Palombo
Thinks Outside the ?? Box; Colors ?? Inside the Lines . Communicates with Intention . Finds Waldo (Every.Time.)
I have seen many posts about cold calling and networking with very little in between. Networking on #LinkedIn is said to be the answer to all of the difficulties building a bridge between our business and the target contact; the link between sales person and customer.
The role of business development IS that link.
As a business development consultant, I can safely say that I have seen, and probably tried, every way to reach a target. Reaching the target is not enough.
If you can get someone on the phone, and if you are lucky enough to have their ear, you might even be able to tell them your name and your business; if you are really lucky you might read your whole speech. Of those few instances, was the person really listening? Did you have their undivided attention? Were you able to establish a solid foundation on which to build in your next meeting?
Did you leave them hungry?
An article, “Cold Calling Is Dead: 15 New Prospecting Strategies Salespeople Should Use” By Richard Stephens references data from the Harvard Business Review:‘The Harvard Business Review reported cold calling is ineffective 90% of the time, and more recent research shows that less than 2% of cold calls actually result in a meeting. Assuming a 0.3% appointment-booking rate and a 20% win rate, it would take 6,264 cold calls to make just four sales.’
But here is what you need to remember… sales happen when the customer is hungry (for your product or service.) You need to develop that hunger. A hungry target will welcome your call and will instigate a meeting. I find that in those rare times that all the stars are aligned; you have a person’s undivided attention as the result of a cold call, too much information broad information if given. Even if you ask questions and engage, the potential customer has listened and in their mind has already thought of 10 reasons why this is not a good fit, a good time, right for their specific needs, affordable – valuable.
Richard’s article goes on to list 15 ways to generate leads using the LinkedIn platform, Emails and referrals. All great ideas. If the traditional (yes methods, these have become the new ‘traditional’) methods, achieve your goal that is great! We all have those targets… You know, the impossible to reach, never available, five gatekeepers blocking the way, targets.
Those are the ones that need a little more finesse.
My answer to this problem is be CREATIVE; be DIFFERENT!
Differentiate yourself from cold callers, sales people, online networking being creative.
It can be something simple, if you are on a budget or elaborate if you want to really make an impression and have the funds to do so. I will give you just one example of a budget friendly idea that I have used. All items available at a local dollar store or big box store.
CREATIVE TECHNIQUE #1
INTRODUCE YOURSELF: Get a small plastic trashcan (the novelty kind that are bright colored and small enough to put on a desk (approximately 5-6in” in diameter and 8-10” tall.) Fill the can with samples, pamphlets, business card, pack of garbage pail kids cards (yes, they still make them,) and any maybe a candy bar or some other novelty item. Then write a personalized letter about how your business’ product or service can solve problem X. DO NOT TELL THEM HOW!
In the letter, them know that you will be calling them on X date at X time at X number to set up a meeting. Give them enough time to make sure they get the package via mail or UPS, preferable traceable. Tell them that if that is not a good time/date or if you should call a different number please email/text/call me with a time/date/# that works better for you. Make sure you give them several options for this so it is really, REALLY easy for them.
Put the letter in the can hanging out just a little so they get that first.
MAIL OR UPS PKG the can to their office.
FOLLOW UP: Make the call at the EXACT time date. If you reach a gatekeeper first make sure to be clear and confident that Mr./Ms. X is expecting your call.
DO NOT spend a lot of time on this call. You have already made and impression. Your only goal for this call is to set up a Face to Face meeting. Something like, “Hi, I don’t want to take up a lot of your time but how is X Date at X time. I like to schedule right before lunch 11:30 usually. This time frame allows me to say, “Hey, are you busy after this? Would you like to grab lunch?”
MEET: Arrive at the meeting approx. 5 minutes early (no more.) Try to not be nervous, try to show your personality and, ‘be human.’ You have a lot to talk about (garbage pail kids is a great start.) Do your thing. If it’s going well ask them to lunch…
That is just one idea; there are no limits with creativity. Good luck!
#BusinessDevelopment101 #Daretobedifferent #ColdCalling #No Limits #Creative
SVP Mitch-Stuart Inc. 866.540.4993 Incentive Travel and Charity Event Fundraising! A Benefit Auctioneer Specialist
7 年I once had a rep working for me who Fedex'd a cell phone to her prospect with a note stating something like "turn this on at x time, on x date. I will call to .....". It worked. I know that anything unique will work, especially if it fit's the prospects personality and ties to something a prospect wants. So much so that it demonstrates the extensive research or significant creativity used to pull off the technique. A few comments about the use of the word "needs". I believe that everyone in a business development role understands that their product or service must provide a tangible and measurable solution before prospects will buy. Basic Right? However, I believe we incorrectly label the problem as a need ... when it is really a Want. Buyers never buy anything they need for needs sake, they only buy what they want . Yes, I realize that some will see this at splitting hairs, but it is a fundamental truth about all buying behavior. Needs can be a FOUNDATION for a purchase, but every buying decision is driven by what is WANTED. Simple examples: We all need transportation, but we WANT a car. We may even need a car (no other modes of transport), but we want the new one with the new smell, etc. We need food and water to survive, but we want Sushi, STEAK, WINE, GOURMET GOODS, Restaurant Experiences, etc. None of these items are necessary to survive, but we sure do want them from time to time. We need organization and databases, but we WANT SALESFORCE (or whatever ... when we really don't actually all the bells and whistles that comes with it). I could go on and on. Also, prospects have to be emotionally committed to solving whatever problems they have (in other words ... want to make the decision to buy) or else the problem will remain unsolved until they are ready. I can think of two business needs I have right now, but I am not ready to deploy the resources necessary ... which means I do not actually WANT to take action. I will, but for now, no creative sales person or technique will ever get me to make a decision until I truly want to do so. Of course, prospects also have to possess the requisite budget and decision process/authority. Again this is elementary, but I would love to see the word NEED be replaced with WANT. May not help the veteran business developers out there, but doing so will help all new and/or younger sales people learn and understand the fundamentals of prospect buying behavior ... the end result will be improved prospecting, more relevant marketing/voice messages, improved conversations at networking events, and even add more meaning to the unique prospecting technique outlined in the article. There is so much more to all of this, but it starts with the simple truth that buyers/prospects will never buy from just a need ... and our job is to help them figure out what it is the prospect truly wants.
Building community and tools for success in the new era of innovation, personalization, and change.
7 年Great thoughts! Funny, my results with cold calling in various business areas have been much better than stated in the HBR article. For example, I was a paint contractor for some years. I got started with a friend in the summer before college. Our strategy to get jobs? Go around the neighborhoods and look for houses that needed painting. Also that looked like they weren't people who just ignored all their house maintenance. Then knock and say, 'would you like a free estimate?' Over years and hundreds of door knocks, probably one of eight would want the estimate and of those estimates one in four would result in a contract. My experience for success in cold calling has been pre-research and looking for clues where people have a need and I'm bringing something valuable and relevant. Also the relationship builds through offering value in the process, low pressure and answer their questions.
Commercial Sales Consultant
7 年This is very helpful sir. Be blessed
A very engaging approach! Thumbs up
Improving your business IT with Google Workspace, a hoody and Nike Air Max 90s!
7 年This is boss Rachel. It's all about creativity! I'm working in two physical mailers right now for my niche of IT for CEOs. Both use surprise and delight.