cold calling techniques

Cold Calling Techniques

James CheongAugust 2010

A=P=S Formula

• Appointments gives Prospects gives Sales

No. from real world

• 293 > 149 > 49 > 83 >10• 293 calls• Spoke to 149 people• 49 first appoitnments • 83 sales visits• 10 sales

What is your no.?

• 15 Calls > 1 appointments• 5 appointments > 1 sale_____________________________________• 15 calls per day X 5 days = 75 calls• 75 calls ÷ 15 = 5 appointments• 5 appointments = 1 sale per week

Increase Calls only

10% 20%

Calls per day 15 16.5 18.0

Calls per week 75 82.5 90.0

Appointments 5 5.5 6.0

Sales 1 1.1 1.2

Sales $ 750 825.0 900.0

Months 120 120.0 120.0

Total Investments 90,000 99,000.0 108,000.0

Income - 1.7% 1,575 1,732.5 1,890.0

Sales Axis

10% Notes

Calls per day 15 16.5 +10%

Calls per week 75 82.5

Appointments 5 5.9 14

Sales 1 1.1 +10%

Sales $ 750 825.0 +10%

Months 120 132.0 +10%

Total Investments 90,000 119,790.0

Income - 1.7% 1,575 2,096.3

Sales Axis - Bonus

10% Notes

Calls per day 15 16.5 +10%

Calls per week 75 82.5

Appointments 5 5.9 14

Sales 1 1.1 +10%

Sales $ 1,250 1,375.0 +10%

Months 120 132.0 +10%

Total Investments 150,000 199,650.0

Income - 1.7% 2,625 3,493.9

Where to get leads

• Civic Organizations – give talks (I in 10)• Conferences – give talks • The T Call• Newspapers – 6 to 8 weeks old papers• Existing Business• Referral club

Cold Call Mechanics

1. Get the person’s attention2. Identify yourself & your company3. Give the reason for your call4. Make a qualifying / questioning statement5. Set the appointment

Get the person’s attention

• Good morning Mr. Tan

Identify yourself & your company

• This is Sam from IPP Wealth Planners• We are a leading Financial & Investment

company; we have worked with more than 300 doctors & Biz Owners

Give the reason for your call

• The reason I’m calling you today specifically is to set an appointment

_____________________________________• The reason I’m calling you today specifically is

to set an appointment • so I can stop by & tell you about our platform &

services & • how they can help individuals in creating

education fund & personal pension scheme.

Make a qualifying / questioning statement

• Mr. Tan, I’m sure that you, like a lot of other doctors in Pantai Hospital (other IT professionals in MSC),

• are interested in having sufficient fund for children education or for retirement. (+ve response)

Set the appointment

• That’s great, Mr. Tan, then we should get together, how about Tuesday at 9.30 am?

• Good morning Mr. Tan• This is Sam from IPP Wealth Planners• We are a leading Financial & Investment company; we have

worked with more than 300 doctors & Biz Owners• The reason I’m calling you today specifically is to set an

appointment so I can stop by & tell you about our platform & services & how they can help individuals (doctors…) creating education fund for children & personal pension scheme.

• Mr. Tan, I’m sure that you, like a lot of other doctors in Pantai Hospital (other IT professionals in MSC), are interested in having sufficient fund for children education or for retirement. (+ve response)

• That’s great, Mr. Tan, then we should get together, how about Tuesday at 9.30 am?

6 specific telephone tips for cold calling

1. Use a mirror are you smiling?2. Use a timer – 2 to 3 minutes

1. Block out your calling time

3. Practice4. Keep record of your calls5. Tape-record your calls6. Stand upImplement !

4 Common Responses

• No thanks, I am happy with what I have• I’m not interested• I am too busy• Send me some information

No thanks, I am happy with what I have

• Other people told me exactly the same thing you did

• They had the same reaction you did before they had a chance to see what we do complements what they are already doing.

• We should get together • How about Tuesday 10.30 am

I’m not interested

• Well, Mr. Tan, a lot of people had the same reaction when I first called – before they had a chance to see how what we do will benefit them

• We should get together • How about Tuesday 10.30 am

I am too busy

• Mr. Tan, the only reason I was calling was to set an appointment.

• Would next Tuesday 10.30 be okay?

Send me some information

• Can’t we just get together? how about next Tuesday 3 pm?

The Ledge

• Is something you can step on – something you can use to regain your footing

• You know something, that’s why we should get together

• A Ledge uses the 1st questions or negative response as a foothold to turn an external phone-prospecting conversation around

Third Party calls

• I do a lot of Private Pension Scheme with Doctors in Pantai Hospital;

• (Biz owners in PJ); (IT managers in Cyberjaya)….• I was very successful in showing them ways to

create sufficient funds for retirement• What I like to do is to stop by next Tuesday at

3pm to tell you about the success I had with Pantai Hospital

3rd party Referral

• Good morning, Mr. Tan.• This is Sam form IPP Wealth Planners.• We are a leading Financial & Investment company;

we have worked with more than 300 Doctors & Biz Owners

• The reason I’m calling you today specifically is that I just spoke to Dr. Lim. He suggested that I give you a call to set an appointment.

• I wanted to know if next Tuesday at 9.30 am would be okay?