Good openings when door-knocking?

33 replies [Last post]
saturnnights's picture
Offline
Joined: 2006-07-13

This is my first forum posting...  
It's funny how different knocking on doors really is, compared to cold phone calling.  I'm very new to the financial services business and would like to do door knocking.  The face-to-face, friendly feel of meeting people by knocking on their doors is also very terrifying if you don't have a few good openings.  Mostly, I find myself tripping all over my tongue and I know that I look like a newbie.
Edward Jones is very big on the door-knocking - I wish I could see some of their training material 
For those of you who do door knocking, what do you say?  I had this idea about giving them a postcard during my visit, so I had a thousand printed with my photo and a little blurb about helping them reach their goals.  Then I listed six different, very broad topics, complete with little checkboxes.  There's a place for them to put their address and phone number and the other side has business reply mail printed on it.  I'd like to hand this to them while we're talking and ask them to fill it out and drop it into the mail.  I don't know where this will lead, but it sounded like a good idea when I thought of it 
So, armed with business cards and these postcards and a small leather case full of assorted brochures, what can I say when they answer the door?
Thanks!Mark

Maxstud's picture
Offline
Joined: 2005-12-29

Good Morning(change to fit time of day) I'm Saturnnights(use you real life name) and I'm with XYZ(Use your real life company name) and I work at the local branch office here in Anytown(use your real life town name) and I like to get out to introduce myself around a bit and let people know that we are availible.  How long have you lived here?

cranky sob's picture
Offline
Joined: 2006-06-15

"This is a stickup."

Starka's picture
Offline
Joined: 2004-11-30

"Hi!  I'm the latest in a long line of local Edward Jones brokers, and I couldn't help but notice the knuckle blood from my predecessors on your door."

apprentice's picture
Offline
Joined: 2006-06-06

Sorry - but I got to ask:  Why would someone spend day after day, month after month, wondering around neighborhoods, randomly approaching peoples homes - which is the last sacred refuge of privacy left in this world?  Isn't it bad enough that we assult them via the telephone?  Again - I've never tried to market using this method - but I don't understand why people would conduct this form of activity.
However, bring warm cookies and offer to mow their lawn.  No way a reasonable person can refuse an approach like that.

saturnnights's picture
Offline
Joined: 2006-07-13

Starka wrote:
"Hi!  I'm the latest in a long line of local Edward Jones brokers, and I couldn't help but notice the knuckle blood from my predecessors on your door."

 
What's ironic is that we do have some EJ offices around the area, but my friends and acquaintances say they've never heard from them.  Neither have I...
Anyway, since I'm not with EJ, I'm looking for a new twist.  I don't think EJ would let me do the business reply postcards - they seem very strict regarding their prospecting...
Mark

saturnnights's picture
Offline
Joined: 2006-07-13

apprentice wrote:
Sorry - but I got to ask:  Why would someone spend day after day, month after month, wondering around neighborhoods, randomly approaching peoples homes - which is the last sacred refuge of privacy left in this world?  Isn't it bad enough that we assult them via the telephone?  Again - I've never tried to market using this method - but I don't understand why people would conduct this form of activity.
 
Because it works?  I suppose everyone's got their own ideas about marketing, but whatever you can make work for you works.  I know cold callers that are wildly successful - yet people will tell you that that doesn't work either.  There's no "bad" marketing plan as long as that plan is legal, ethical and successful.  At least, that's my opinion  

entrylevelFA's picture
Offline
Joined: 2006-06-05

The EJ text is something like:
Good Morning, my name is ________  and I'm thinking about opening a business in the area.  Do you mind if I ask you a few questions?
It would be wise to modify and make it a little more personable.  If you interview with EJ they will make you go out and practice door knocking, though I recommend the doorbell.  That way when you decide you'd rather go with MS or ML, your knuckles aren't bleeding on the branch managers desk!

FreedomLvr's picture
Offline
Joined: 2006-02-10

"Excuse me Miss, is your husband home?  No?  Well if you'll just take this brochure and my business card... oh, I can see your hands are full.  I'll hold that towel for you.." 

munytalks's picture
Offline
Joined: 2006-04-17

Can't ring the doorbell, here's an EDJ training secret.... ssshhhhh- don't tell anyone....
Strangers ring the doorbell....Friends and Family knock....
People at home are more likely to answer a knock than a ring.... it's warmer.
Knock, then step back away from the door, don't croud their space... smile big (like this) , thrust you hand forward and say "Good Morning! My name is Peanut Broker, and I'm just here today to introduce myself to some of the folks in your neighborhood.
And then shut up, just shut up. Don't move until they take your hand.

babbling looney's picture
Offline
Joined: 2004-12-02

When I was doorknocking.
Knock.   Step back from the door so it doesn't look like you are trying to come in or put your foot in the door.
Hello.  I am  and I'm with .  I am opening (have opened) an office in the area and wanted to introduce myself to people in the neighborhood.   I specialize in
Then wait if they have any questions....or slam the door in your face.
EDJ suggests you engage them in chit chat to get information about them.  Stuff like.   Where do you work? Have you lived in the neighborhood long.  Gee your yard is nice.  Etc.  
I always tried to find some commonality with them.   Oh, you work at the XYZ company.  I have a friend who works there. Perhaps you know him.   You just moved into the area?  How nice, I have lived here for X years and these are good places to eat or shop etc.   Your yard is so nice, how do you get those hydrangeas to grow so well. Mine are always wilted.  People love to talk about themselves.
I like the idea of your postcard.  I used to offer to put them on a mailing list for my upcoming seminars and investment classes. 
 

RecordGuy's picture
Offline
Joined: 2006-04-10

Assuming you find good prospects, what are some tricks to gathering some of their assets?  I'm guessing you are going to have to start very small and chip away.  For example, start off with a $5000 cd or open a money market account.  What about businesses?  What worked for you folks?

apprentice's picture
Offline
Joined: 2006-06-06

Wow - after reading a number of these posts, it comes down to: 'what tricks and secrets' are there to hook someone in to do business with me?  Sounds like EddieJ's got the market cornered on this 'high level' prospecting.  I still believe that if you bring cookies (must be warm, chocolate chip), you're chances are great in making that all important connection.  If you end up actually getting someone interested in working with a financial advisor - and they ask you (since you're in the business) to recommend them to someone who works with large sums of money...send them my way.

troll's picture
Offline
Joined: 2004-11-29

Yet another reason to live in a gated community  

ladyrep's picture
Offline
Joined: 2006-08-09

I'm curious, if you're so intent on using the EDJ prospecting technique, why not just apply for a position with them? They'll show you all the training material you can tolerate and then some. They'll teach you how to do it, watch while you practice and evaluate your technique.  If you're going to do it, go to the source.

frumhere's picture
Offline
Joined: 2005-02-22

Why not look for an opening (window, door, etc) get inside and surprise them when they get home.

RecordGuy's picture
Offline
Joined: 2006-04-10

frumhere wrote:Why not look for an opening (window, door, etc) get inside and surprise them when they get home.
ahahahaha
and a bwahahahahaha

exEJIR's picture
Offline
Joined: 2005-05-12

frumhere wrote:Why not look for an opening (window, door, etc) get inside and surprise them when they get home.
I like it!  I like it!
 

Mike Damone's picture
Offline
Joined: 2004-12-01

frumhere wrote:Why not look for an opening (window, door, etc) get inside and surprise them when they get home.
LOL!  Excellent post.

frumhere's picture
Offline
Joined: 2005-02-22

thank you...thank you. 
please tip your waitresses.
 
 

GT Key's picture
Offline
Joined: 2008-01-15

I am with EJ but I really enjoy some of the comments against doorknocking. They are truly funny and in some cases true.
 
I have knocked on close to 10,000 doors and I don't think it matters what you say. I just introduce myself, tell them I am handing out a newsletter and see where it goes. Everyone takes the information and the good prospects just start talking. The problem I ran into is some people are friendly at the door just because you are there, then when you try to get them on the phone they become ghosts. Jones just wants you out there because you dont have an office or reputation yet. Grab some low hanging fruit and then figure out what you want to do. After your first 6 months door knocking is hardly mentioned.  

newnew's picture
Offline
Joined: 2007-02-23

excellent post- I agree

Broker24's picture
Offline
Joined: 2006-10-12

This is true.  People on this board put way too much weight on the whole doorknocking thing.  Besides, I've got 2 guys in my town now doorknocking from AGEWachovBank.  We'll see how they do.

newnew's picture
Offline
Joined: 2007-02-23

"the good prospects just start talking"....agreed----ain't rocket science but it works

Broker24's picture
Offline
Joined: 2006-10-12

newnew wrote:"the good prospects just start talking"....agreed----ain't rocket science but it works
 
It's really just like cold-calling, except face-to-face.  That's what I tell other Jones guys that have asked me about cold calling.  Well, it's just like doorknocking, except over the phone!  Not that I have been extremely successful at either one, but hey, you have to do it.

brain.ra's picture
Offline
Joined: 2008-02-20

I'm far from experienced (i only have a year in the business), but when I started with MS the doorknocking thing wasn't really encouraged (unless you were walking into businesses).  Now, I'm thinking of taking a position with ML and the branch manager there also seems to discourage residential doorknocking, but he does encourage cold canvassing businesses.  I wonder why the differance in opinions between MS/ML and other firms who encourage the door-to-door thing?
 
I'm just curious if any of you have tried cold canvassing businesses and homes, what's the difference in your approach?  Does one seem to work better than the other?

Broker24's picture
Offline
Joined: 2006-10-12

brain.ra wrote:I'm far from experienced (i only have a year in the business), but when I started with MS the doorknocking thing wasn't really encouraged (unless you were walking into businesses).  Now, I'm thinking of taking a position with ML and the branch manager there also seems to discourage residential doorknocking, but he does encourage cold canvassing businesses.  I wonder why the differance in opinions between MS/ML and other firms who encourage the door-to-door thing?
 
I'm just curious if any of you have tried cold canvassing businesses and homes, what's the difference in your approach?  Does one seem to work better than the other?
 
Depends on your location, approach, and persistance.  Both can be successful.  Ever notice how some people on this board have great success with cold calling businesses, while others say it doesn't work?  Ever notice how some people on this board have great success with cold calling residences, while others say it doesn't work?  Same thing.
 
What I will say is this....with residential doorknocking, unless you are doing it all day long, the success rate is low, because not a lot of people are home.  It can take a long time jsut to find a few people home.  I have doorknocked before for 6 or 7 hours, only to find 15 or 20 people HOME.  Of that, maybe a couple would be potential prospects.  I have also doorknocked for 2 hours and had 15 people home, so sometimes it's just luck.
 
As far as businesses are concerned, I think this is more of a process.  Most times, you aren't greeted by a decision maker at the front door, so now it is a matter of how you approach it.  Be casual and leave something (just an "intro")?  Try to see a decision maker?  Try for an appointment?  The first business cold walk is often a way to start feeling out the business, and developing a raport with the owner/employees/managers/gatekeeper/etc.
 
To me, it all depends on your approach.  But I tell you, in the beginning, you need to do something, so if business owners are part of your business plan, you need to get your mugg out there and let people see it.

GT Key's picture
Offline
Joined: 2008-01-15

To this point I havent really gone business door knocking. I get frustrated easily with the gatekeeper crap. Id much rather cold call residences, but after doing both cold walking and cold calling, the cold walking has produced more. My advice to those cold walking is do everything you can to qualify people. I have been burned by people who are very interested at the door and then they never answer the phone or have $50/month DCA.

GT Key's picture
Offline
Joined: 2008-01-15

Iceco1d:
 
You are absolutely right. Some of those accounts can turn into something much bigger. I shouldn't look down on all of them. It just stems from frustration when things don't happen as fast as I want them to. I have had some good accounts develop from "small" accounts and I think your way of looking at it is the right way.

noggin's picture
Offline
Joined: 2004-11-30

You better have a system in place or those "small" accounts will take all of your time.

Capitalkid's picture
Offline
Joined: 2008-02-29

Hilarious!

Capitalkid's picture
Offline
Joined: 2008-02-29

"Why not look for an opening (window, door, etc) get inside and surprise them when they get home."
 
Hilarious!

Please or Register to post comments.

Industry Newsletters
Investment Category Sponsor Links

 

Careers Category Sponsor Links

Sponsored Introduction Continue on to (or wait seconds) ×