Best Cold Calling Pitch
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[quote=Hank Moody] [quote=anonymous]"Very, very weak. "
Hank, I can only presume that if my language is very, very weak, yours must be much better. When I make cold calls, my typical numbers are 40 dials to 5 reaches to 2 appointments. It take me about 45 minutes. If I used your strong language, how much better would my phoning be? To put it in perspective, my number on referral calls are closer to 5 dials to 3 reaches to 2 appointments. (It's amazing that on referrals, the person just happens to be available so much more often.)[/quote]
First, you are lying about your results. Second, you don't have the guts to use strong language.
[/quote] It doesn't matter because the feel, felt, found method is best used when overcoming objections. If you are talking to a referral that is serious about coming in then how many objections (opportunities to use this technique) will actually have to be overcome? He's talking about setting 2 referrals for every 5 referrals he gets so he probably doesn't cold call anyways with those kinds of numbers.
With referrals, I'm actually talking about setting 2 appointments for every 3 referrals. It just takes 5 phone calls to reach the 3 referrals. When it comes to referrals, it's not about us. It's about the respect of the referree.
The comment about lack of guts to use strong language is an interesting one. There's truth to it. It's not a "guts" issue, but the language isn't strong. I think that is part of the reason that it works. It's non-threatening. It would not be good language for a wirehouse setting. I think that the basic attitude is, "What the heck. If he's here anyway, I might as well meet with him." That works for me. We don't get paid based upon degree of difficulty.
[quote=3rdyrp2][quote=Hank Moody] [quote=anonymous]"Very, very weak. "
Hank, I can only presume that if my language is very, very weak, yours must be much better. When I make cold calls, my typical numbers are 40 dials to 5 reaches to 2 appointments. It take me about 45 minutes. If I used your strong language, how much better would my phoning be? To put it in perspective, my number on referral calls are closer to 5 dials to 3 reaches to 2 appointments. (It's amazing that on referrals, the person just happens to be available so much more often.)[/quote]
First, you are lying about your results. Second, you don't have the guts to use strong language.
[/quote] It doesn't matter because the feel, felt, found method is best used when overcoming objections. If you are talking to a referral that is serious about coming in then how many objections (opportunities to use this technique) will actually have to be overcome? He's talking about setting 2 referrals for every 5 referrals he gets so he probably doesn't cold call anyways with those kinds of numbers.[/quote]
He says he cold calls and you say he doesn't. Which one of you is lying about that?
[quote=anonymous]
With referrals, I’m actually talking about setting 2 appointments for every 3 referrals. It just takes 5 phone calls to reach the 3 referrals. When it comes to referrals, it’s not about us. It’s about the respect of the referree.
The comment about lack of guts to use strong language is an interesting one. There's truth to it. It's not a "guts" issue, but the language isn't strong. I think that is part of the reason that it works. It's non-threatening. It would not be good language for a wirehouse setting. I think that the basic attitude is, "What the heck. If he's here anyway, I might as well meet with him." That works for me. We don't get paid based upon degree of difficulty.
[/quote]You are a liar.
[quote=Hank Moody] [quote=3rdyrp2][quote=Hank Moody] [quote=anonymous]"Very, very weak. "
Hank, I can only presume that if my language is very, very weak, yours must be much better. When I make cold calls, my typical numbers are 40 dials to 5 reaches to 2 appointments. It take me about 45 minutes. If I used your strong language, how much better would my phoning be? To put it in perspective, my number on referral calls are closer to 5 dials to 3 reaches to 2 appointments. (It's amazing that on referrals, the person just happens to be available so much more often.)[/quote]
First, you are lying about your results. Second, you don't have the guts to use strong language.
[/quote] It doesn't matter because the feel, felt, found method is best used when overcoming objections. If you are talking to a referral that is serious about coming in then how many objections (opportunities to use this technique) will actually have to be overcome? He's talking about setting 2 referrals for every 5 referrals he gets so he probably doesn't cold call anyways with those kinds of numbers.[/quote]
He says he cold calls and you say he doesn't. Which one of you is lying about that?
[/quote]
I make cold calls, but only to business owners, attorneys, and CPAs.
I'll make referral calls to almost anyone who gets referred to me. When I'm making the cold calls, I make no effort to get them to come to my office. I try to meet with them at a time that I'll already be there and I'm only looking for a 5-10 minute meeting. With the referrals, I try to schedule a 45 minute meeting in my office. If that makes it difficult, I'll go to them. If I need to, I'll go for the quick introductory meeting, but only if I have reason to beleive that it's someone who I really want to meet. My philosophy on the quick meetings with the cold calls is that I don't care what happens with the meeting. My goal is to schedule a fact finder, but, in some ways, I'm just happy to get permission to stay in touch. On a cold call, there isn't any trust. If I can meet with someone and then add them to my drip campaign, when I call them again in 6 months, they know me and they know that I know my stuff. In short, my feeling is that if I get in front of someone, there is a good chance that they will become my client.[quote=henryhill]Anon, you wait 6 months before calling again? I don’t agree with that[/quote]
A guy who barely has the courage to ask permission to call in half a year probably doesn’t have the courage to call the “prospect” again.
Feel, felt, found wasn’t invented, coined, or developed by anyone in the financial services industry. It was co-opted by our industry, as it has been by many industries. It has a long standing history of being an effective sales tool when used correctly. Those who believe we are sales people or that the career requires sales techniques to be successful see the value of the feel, felt , found technique regardless of whether they use it themselves.
[quote=Hank Moody]
[quote=henryhill]Anon, you wait 6 months before calling again? I don’t agree with that[/quote]
A guy who barely has the courage to ask permission to call in half a year probably doesn’t have the courage to call the “prospect” again.
[/quote]
And he huffed, and he puffed, and he …
I’m sure anon isn’t going to lose any sleep worrying about whatever opinion you may or may not have about either his prospecting technique or his “courage,” Bobby.
Whatcha been doing lately?
[quote=BondGuy]Feel, felt, found wasn’t invented, coined, or developed by anyone in the financial services industry. It was co-opted by our industry, as it has been by many industries. It has a long standing history of being an effective sales tool when used correctly. Those who believe we are sales people or that the career requires sales techniques to be successful see the value of the feel, felt , found technique regardless of whether they use it themselves.
[/quote] I understand that we can also position ourselves as advisors or in some other light other than sales, but does that change the techniques we use? Seems that you are hinting at that."Anon, you wait 6 months before calling again? I don’t agree with that "
Should I call sooner or later than that? The reality is that it depends on that first meeting. My goal of that 1st meeting is to schedule a fact finder. Sometimes the factfinder occurs on the spot. Let's assume that I can't get one scheduled. When will I call again? If I don't like them and they don't appear to be successful, I'm never calling again. If they have a legitimate excuse for not meeting, that excuse will tell me when to call again. "This is our busy season and my daughter is getting married in 6 weeks." I'll get permission to call in 6 weeks. However, if the appointment doesn't really go anywhere, I like to wait 6 months. It's good to let the guy forget about me a little bit.[quote=anonymous]"Anon, you wait 6 months before calling again? I don’t agree with that "
Should I call sooner or later than that? The reality is that it depends on that first meeting. My goal of that 1st meeting is to schedule a fact finder. Sometimes the factfinder occurs on the spot. Let's assume that I can't get one scheduled. When will I call again? If I don't like them and they don't appear to be successful, I'm never calling again. If they have a legitimate excuse for not meeting, that excuse will tell me when to call again. "This is our busy season and my daughter is getting married in 6 weeks." I'll get permission to call in 6 weeks. However, if the appointment doesn't really go anywhere, I like to wait 6 months. It's good to let the guy forget about me a little bit. [/quote]I'd bet anything that you would do more business if you reallocated your time away from chasing deadwoods and put it toward finding people who want what you have, right now.
Bobby, I agree that nothing is more of a time waster than chasing deadwoods. "Yes" answers are good. "No" answers are good. "Maybe" answers waste our time. I strongly believe that this is a business of trust.
I know that if I take a fact finder on someone, a need will be uncovered. If they agree that there is a need and they don't become a client right away, I'd be wasting my time pursuing them. Either my sales skills weren't good enough or they don't trust me. Either way, my time would be more valuable on others. On the other hand, the way that I work, is not what I would consider chasing deadwoods. I don't care that a stranger who I cold called won't let me take a fact finder when I first meet them. When I call them them 6 months or some other time frame after first meeting them, they know who I am and they have been getting dripped on for a consistent manner since we first met. I'll call them. If we are meeting again, it won't be a 5 minute meeting. It's a 45 minute fact finder.I wasn’t hinting at anything. Those who fail to sell their service or their product will fail.
Clear enough?[quote=BondGuy]I wasn’t hinting at anything. Those who fail to sell their service or their product will fail.
Clear enough?[/quote] Yep, Thanks.When cold calling Urban areas, I would go with the following pitch:
You’re losin cash money<?: prefix = o ns = "urn:schemas-microsoft-com:office:office" />
But don’t call 911,
Just give me a holla any time,
And you’ll have money outcha bunns.
You say your portfolio sucks?
You’re gonna have to work for ever?
Stop e-tradin like a baby,
You need an advisor that’s clever.
Your nest egg is cracked,
You’re leakin yolk all over,
You complain to your congressman,
But he just says bend over.
No I’m not Jim Neighbors,
But won’t you be, please won’t you be my client.
Start doing what I say,
Please don’t be defiant.
You need a FA with mad investing skillz,
Someone that can get in on the hottest IPO dealz.
Your IRA is hurtin,
Your 401k needs to be rolled over,
You need to save for college,
I’m your lucky 4 leaf clover.
You’re lucky I called,
Now there’s no one else to blame,
Give me all your money,
I’m gonna make it rain.