When Cold Calling, How Do I Determine How Much Qualifying Is Enough?
Nov 16, 2009 Cold Calling Tips, Prospecting, Cold Calling and Networking, Sales Coaching, Sales Training, coaching salespeople, cold calling, telesales
I received the following question from a salesperson the other day who was struggling when it came to qualifying his prospects during a cold call. He was looking for an effective way to best qualify his prospects and how to avoid wasting time when meeting with the wrong ones. What follows is his initial inquiry and my response, which I felt important enough to share with you, as many salespeople seem to be struggling with this very issue today.
That is, “When cold calling, exactly how much initial qualification is enough before determining the next step in my selling process? Do I do all of my qualification up front on the phone before scheduling a face to face meeting or do I wait until I meet with the prospect and then conduct a more robust needs analysis? How do I make this determination?”
Here’s the email I received:
“Hello Mr. Rosen,
I am a salesperson selling health insurance who is currently working on my sales system. My target market is owners of small businesses. I call them and set appointments from telemarketing leads. I have a script in which I use to set the appointment and qualify them, before meeting them face-to-face. I’d be curious to know what strategy you feel is best regarding my two approaches below.
First Approach: Do minimal questioning and qualification and just set the appointment. Then at the appointment, conduct a fact finder to find out their situation and what they like or don’t about their current health insurance plan. Then, set another appointment and come back with a proposal and recommendations. I will pre-close them on the first visit.
Or is this a better this way?
Second Approach: Call and qualify them and ask them all the questions over the phone to find out their current situation on this initial phone call. Then, I will bring the proposal to the first face to face appointment, recap what we discussed over the phone, explain the plan and try and make the sale. Pretty much try and make the sale on the first face to face visit.”
Here was my response:
The answer is – BOTH. There’s always a minimal amount of non negotiable qualification that must be done before meeting with a prospect. Then, when determining how much deeper you can go in your qualification, depending upon the situation it could go either way, so let the customer decide.
The IDEAL scenario is the second one you mapped out. And it’s all in the spirit of saving you your precious and limited time following up and meeting with people who you shouldn’t be meeting with in the first place. The cost of meeting with unqualified people is compounded exponentially because you’re not only meeting with the wrong prospects but you’re now losing time that you could have invested meeting with the right ones – the ones that your competition is meeting with.
Of course, there are those situations where the prospect simply doesn’t have the time nor desire to answer all of your questions during an initial phone call and at that point, it’s going to be a judgment call on your part. So, to minimize the risk of meeting with the wrong prospects and maximize your time when meeting with the qualified ones, what I would recommend is making a list of the non-negotiable qualifying questions that must always be asked, regardless of the situation, so that you get a baseline understanding whether or not this person is even a candidate for your product or service.
Here’s a great way to handle how much qualifying you can do over the phone and how to do it in a way that would encourage the prospect to spend more time with you during this initial telephone conversation.
Simply put, let the prospect decide. After all, people want to save as much time as possible and would appreciate any opportunity to be more efficient when it comes to leveraging their time. That said, the next time you speak with a prospect over the phone, use the following approach during your initial needs analysis/qualification process.
After asking them a couple of preliminary, non negotiable questions, deliver the following message.
“Mr./Mrs. Prospect, I know you’re busy and I want to respect your time. That said, I want to share two options with you that would save you some time when deciding what solution is best for you and whether or not there’s even a fit here. We could schedule a time where I can visit with you to learn more about your business and your objectives and then at that time, schedule another meeting where we could discuss my proposed solution, or, to speed up this process and avoid scheduling another meeting, we can continue our conversation now on the phone so that at the end of this conversation, you would have a very good sense as to whether or not I can deliver more value than your current solution is providing you and if it even makes sense for us to meet face to face in the first place. Which option would work better for you at this time?”
When you give people a choice and share with them the benefit of investing a little more time with you on the phone, you’ll find that your prospects are much more willing to do so. And if you’re saying that your prospects are, “too busy to spend more time with me” or “this won’t work in my industry,” I would challenge you to re-think whether or not this is truly your prospect’s objection or a costly assumption that you’ve created in your own mind. If this new marketplace has changed the way we sell and engage with our prospects, then the old rules of how we qualify and set appointments with our prospects much be challenged as well.
This win – win saves both you and the prospect time, while ensuring that you’re meeting with more of the right prospects.
Tags: cold calling, discovery, needsd analysis, prospecting, qualifying, sales, Sales Coaching, Sales Training, selling
Landslide Video: Respect Sales! A Day On The Links With a Prospect
Nov 12, 2009 Clients are fun. Case Studies in Sales and Leaders..., Prospecting, Cold Calling and Networking, Sales Training, Selling Advice, Videos
Landslide.com recently recorded a video for a series with the theme: “Respect sales.” The idea is to show how sometimes people think salespeople have it easy – they get to travel, play golf, go on dinner outings etc. but the reality is far different.
So, what actually happens when a salesperson takes a prospect out on the golf course? Any good salesperson knows that deals just don’t fall out of the sky. Follow Landslide’s sales guy as he puts up with his difficult prospect and tries to close the deal. Click play on the video below.
If the video does not load, here is a link to the video.
Tags: funny, prospecting, sales, Sales Training, selling, video
To Tweet or Not To Tweet? If That’s The Question, The Answer is – Know Your Objectives
Nov 10, 2009 American Entitlement, Business Coaching, Business Tools, Communication, Marketing, sales tools
Follow me on Twitter here.
“Should I be tweeting, Keith?” This question comes up more and more when speaking with clients. Since there are several factors to consider when answering this, my response to this question are additional exploratory questions that guide a conversation to help individuals and companies determine whether it makes sense for them to become part of the Twitter universe or, twitterverse, which according to the urban dictionary is defined as, “The cyberspace area of twitter. This naturally extends beyond twitter.com to anywhere you can twitter, which includes cell phones.” (Yes, be prepared for more jargon and a new language.) Here are a handful of those questions:
1.“What do you already know about Twitter?”
2.“Is this something you’re setting up as a personal account or for your business?” (What are you using it for? Staying in touch, for fun, to achieve a certain goal or objective, to make money, etc.”)
3.“Tell me why you feel you want to/need to be tweeting?”
4.“What are your goals and expectations?”
5.“How much time do you have to devote to this?”
6.“If this is for your business, who will be doing the tweeting?”
7.“What message are you looking to deliver?” (Around your personal brand, corporate branding, certain theme or platform, marketing messages, notifications, events, special offers, attracting prospects, nothing specific, etc.)
8.“What results are you expecting?”
9.“How many followers do you want?”
10. “Who do you want to follow you?” (“How many people, what audience, why do you want them following you,” and so on.)
11. “How will this complement your current marketing campaign and align with your social media strategy and objectives?”
Once we siphon through the answers to these questions, we can then start mapping out whether or not it makes sense for them to invest their time tweeting and a strategy to go about doing so that would achieve their objectives.
I know it’s easy to get caught up in trying to get as many people as possible following you on Twitter, and social media is all the rage. (Just Google “social media” and you’ll get 203,000,000 results. Probably even more since this blog went live.) For some people, Twitter has become a downright obsession, an ego stroke, a validation, a need to be needed, a way to feel ‘connected.’ (I’ll have to address what ‘connected’ means in another blog.)
Sure, there are those people out there that have earned the bragging rights to say they have tens of thousands of people following them on twitter, but I can tell you this with great certainty, if you’re looking at it from the perspective of what the financial benefit or monetary impact could be and how much personal income has been generated, I wouldn’t run out to swap your W2 statement with most of them. That being said, there’s always the few exceptions.
Like any new strategy you’re considering adopting, if you’re looking at Twitter as part of your overall marketing campaign in order to leverage it as a social media communications tool, there needs to be a healthy balance between the quality of your efforts and the quantity of them. There’s no, “one solution.” What’s needed is a holistic and well balanced approach to utilizing a variety of marketing vehicles that would reinforce your brand, provide further exposure and put you in touch with your target audience which, collectively, would achieve your marketing objectives.
Just think of selling; if you look at selling as a numbers game rather than a science or strategic benchmarking process, you’re in big trouble. After all, you can have thousands of prospects in your pipeline but what are those prospects worth if they’re not a fit for your product or service? The costs are significant: time and money wasted on engaging with the wrong people multiplied exponentially by the time you are not spending targeting, calling on and following up with the right prospects.
Depending upon your goals and the responses to the questions I posed earlier in this blog, Twitter may certainly prove to be one very important spoke on your marketing wheel that’s worth leveraging (it’s been worthwhile for me), that complements the other marketing platforms you utilize.
To reinforce this point, here’s a short movie aligning the values of legendary Zig Ziglar and his son, Tom Ziglar with Twitter. In this movie, you’ll find some great, classic quotes from Zig Ziglar, as well as a handful of guidelines from Tom on how to leverage and maximize Twitter to your advantage.
And yes, I do tweet as part of my overall social media strategy. So, feel free to follow me on Twitter here.
Enjoy the new Ziglar Twitter Movie. Click here to watch.
Tags: cold calling, Marketing, prospecting, selling, tweet, tweeting, twitter
VIDEO: Developing a Compelling Opening Statement When Cold Calling and Prospecting.
Sep 21, 2009 Cold Calling Tips, Prospecting, Cold Calling and Networking, Sales Coaching, Videos, cold calling, tele-sales
BOOK EVENT EXTENDED THROUGH THIS WEEK! Due to Keith’s book selling out and making #1 on Amazon, we’re extending this event through this week! You can still get the book 34% off and the hundreds of dollars worth of bonus materials. More here.
Here’s one example of the type of opening statement and cold calling approach you can create that’s sure to generate more qualified prospects for you than ever before. This example was one that a cost reduction company used when calling on the C suite of prospects, such as the controller or CFO. Once you listen to the opening statement, I’ll then dissect this approach so you can see the strategy behind it.
Tags: cold calling, Cold Calling Tips, opening statement, prospecting, Sales Coaching, Sales Training, video
PODCAST: Is Cold Calling Really Dead? A View into the Mind and the Day of a Salesperson
Jul 10, 2009 Cold Calling Tips, Prospecting, Cold Calling and Networking, Sales Coaching, cold calling, podcast, sales tips, tele-sales, telesales
Listen to this podcast here.
You get to your office, sit down at your desk and open up your calendar. A concerned look sweeps over your face. “Only one appointment this week.” You look at your pipeline and get that squirmy feeling inside your gut, as you realize your pipeline is not as full as it used to be. You’re wondering where you’re going to find your next prospect.
The uncertainty begins to sweep over you. The stress starts creeping into your body, for you realize you can’t keep procrastinating making the cold calls you need to in order to book more appointments with key decision makers. Read the rest of this entry »
Tags: cold call, cold calling, podcast, prospecting, selling tips, telesales
PODCAST: Crafting a Compelling Opening Statement When Cold Calling and Prospecting
Jul 10, 2009 Prospecting, Cold Calling and Networking, Sales Training, cold calling, podcast, sales tools, telesales
Listen to this podcast here.
Enough theory for a moment. People need answers; granular, tactical, “How do I do this the right way and what do I say when I finally connect with a prospect when cold calling?” type of answers.
Those proactive souls who happen to cold call me and reach me live in an attempt to generate another prospects to fill up their rapidly drying pipeline certainly deserve the acknowledgment for putting forth the effort. Read the rest of this entry »
Tags: cold calling, cold calling script, opening statement, podcast, prospecting, template, tips on cold calling
Are Salespeople Asking Prospects the Wrong Questions?
Jul 1, 2009 Cold Calling Tips, Prospecting, Cold Calling and Networking, Sales Coaching, Sales Training, cold calling, sales articles, tele-sales, telesales
“Are salespeople asking their prospects the wrong questions?” As I mentioned in my last post, this was a conversation that came up while being interviewed by Geoffrey James for an article he was writing for Selling Power magazine on what managers need to do to effectively coach their sales team when cold calling.
The answer to this question? Well, it’s actually yes and no. Yes, many salespeople are asking good questions that help uncover whether or not the prospect is a fit for the product or service they are selling. Conversely, many are asking the wrong questions that drive the prospect away from you, rather than move them closer to a sale.
The real universal gap that I see after coaching and training thousands of salespeople, Read the rest of this entry »
Tags: cold calling, discovery, disqualifying, prospecting, qualifying, qualifying prospects, questions, questions that sell, Sales Coaching, sales questions, sales tips, Sales Training, telesales
When and How to Ask for Referrals
Jun 25, 2009 Marketing, Prospecting, Cold Calling and Networking, Sales Coaching, Sales Training, Selling Advice, sales articles, sales tools, tele-sales
To complement my last blog where I shared some valuable tips on how to generate more referrals that were provided by my colleague Dr. Tony Alessandra, I felt we needed to get even more tactical by revisiting the positioning, language and the dialogue you need to be mindful of when actually asking for a referral, as well as the proper time and place to do so. Below is a strategy that has helped many salespeople and non selling professionals build their pipeline and their practice by knowing when and how to ask for referrals. What follows is a dialogue you can use that honors the permission based selling model that I’ve written about in my cold calling book.
What exactly classifies as a referral? If we were to create some parameters that define what a referral is, this is what it would look like.
Synonymous with “recommendation” and “testimonial,” a referral is a potential prospect that is directed or given to you by someone you know or someone you don’t know who feels that you are the best source for help or information regarding a specific, subject, product, or service.
What makes a referral so incredibly attractive and desirable is that it is, for the most part, a warm lead. That is, when you approach a referral, there is less of a need to convince or sell them. A certain degree of interest, credibility, and comfort has already been established. Chances are, there’s already a need present. All you have to do then, is turn that need into a want or a desire for your product using the questions in your needs analysis.
Typically, your clients are going to be the top source for referral business simply because they are the ones who actually utilize your product, making them the most effective testimonial you can find to endorse your product.
The following dialogue illustrates how you can establish a referral agreement with your clients. This way, you will be able to identify the clients who are willing to become a referral source for you and the most appropriate time to ask them for referrals. This is a great example of how to set up your strategy to increase the amount of referral business you currently generate.
You: “Mrs. Client, may I take a moment to share with you how I build my business?”
Client: “Sure.”
You: “Well, what I enjoy most about what I do and where my time is best served is working with my clients. I want to spend as much time as possible serving my clients and exceeding your expectations. In order for me to spend more time with my clients and less time marketing or prospecting for new business I really need the help of my satisfied clients.
Please understand, I’m certainly not asking for any referrals from you now. Personally, I feel that would be incredibly presumptuous to ask you to introduce me to other potential clients before you even have a chance to truly utilize and benefit from my services. After all, we just started working together!
However, in a couple of months or even weeks, when you are clearly realizing the benefits of my services and have gotten even more value than you expected, would you be comfortable sharing the results you have experienced with others and introduce me to those people who might also benefit from my services?”
Client: “Sure, I don’t see why not.
You: “That sounds great. Thanks in advance for this consideration. Just so I know what it will take to make you a raving fan, what can I do to make you comfortable enough to actually want to refer business to me?”
The most effective way to earn referrals is to over- deliver on the value your clients expect so that you actually exceed their expectations. Once you confirm this to be true, it now becomes a great time to ask for testimonials or a reference from a happy client.
If you find that you are having difficulty asking for referrals, then question how strong your belief is in your product, your commitment to serving your clients, and the value proposition you can deliver.
Setting up a referral agreement with your clients will remove any reluctance and make you feel much more comfortable when asking them for referrals. Since they now know this is something you will be asking of them, it’s okay to ask.
Tags: ask for referrals, asking for referrals, filling your pipeline, networking, prospecting, referrals, Sales Coaching, Sales Training
Tony Alessandra Week on CanDoGo – Generate More Referrals
Jun 25, 2009 How To Sell and Sales Tips, Marketing, Sales Coaching, Sales Training, sales articles, sales tips
Last week on CanDoGo.com was Tony Alessandra week. While a little late on the draw this week, the good news is, you can still access all of Tony’s videos and tips on CanDoGo. This one in particular I felt was so relevant during a time where customer retention and acquisition is top of mind for all companies and salespeople. Below are some best practices when it comes to asking for referrals.
Asking for Referrals
By Dr. Tony Alessandra
Ask for referrals anytime a customer offers positive feedback about you, your company, or your product. Often, the best time to do so is right after your customer has a problem resolved by you, and you’ve proven that you can and will follow through. Any time you ask for referrals, follow these guidelines:
Tags: asking for referrals, networking, prospecting, referrals
The Seven Types of Prospectors – Get Your Copy of This ebook For Free Today
Jun 18, 2009 Cold Calling Tips, Communication, Prospecting, Cold Calling and Networking, Sales Coaching, cold calling, tele-sales, telesales
Download this ebook for free here.
Our new marketplace requires new strategies and a new way of thinking in order to achieve more and thrive. Here, you can access these new resources I developed specifically for salespeople and sales managers to attract more prospects, boost your sales faster and coach your sales team into sales champions so they can close more sales today.
Here’s the second in a series of new resources and ebooks I’m giving away.
The Seven Types of Prospectors
What kind of prospector are you? Although developing a unique, personalized approach to prospecting is encouraged, there are some pitfalls to be aware of and some communication styles to abandon that you may not even be aware of which will sabotage your prospecting efforts. Use this guide to uncover which of the seven types of prospectors you most closely resemble and what you can do to adjust your prospecting approach and communication style for maximum impact.
Download this ebook for free here.
Tags: books on cold calling, cold calling books, Cold Calling Tips, prospecting, Sales Coaching, sales tips, Sales Training, telesales, teleselling
RSS
