Best Cold Calling Pitch
72 RepliesJump to last post
Anon,
If a cold call shows interest after the first call, I put something in the mail and then call back every two weeks until they scream "buy" or "stop". If you wait 6 months, they have forgotten you and its a cold call all over again. You are trying to advance the trust continum, you have to do that over shorter bursts of time.What pitch are you using for your private REIT? I’m also starting a calling campaign and looking for any new ideas. Thanks.
I talk about annual dividend yield that pays monthly, (6-6.5% range depending), then I mention the opportunity to participate in upside of the market(when the REIT goes full cylce)… By this time either they are really interested or confused and then I go for the appointment to explain it…
"Anon, very good stuff. ... Could you share how you drip on good prospects?"
Sorry, but this is about the one thing that I'm not willing to share. Because what I'm doing is fairly unique, I'm afraid for my anonymity.
"Anon, If a cold call shows interest after the first call, I put something in the mail and then call back every two weeks until they scream "buy" or "stop". If you wait 6 months, they have forgotten you and its a cold call all over again. You are trying to advance the trust continum, you have to do that over shorter bursts of time." This may need a little clarification. If I make a cold call, they will either agree to meet with me or they won't. If they don't agree to meet with me, I ask for permission to e-mail them information. Someone who I don't know isn't worth the price of the stamp or the time to send something. If I know that they are a person who I really want to meet, I'll find someone who can make the introduction. The "information" that I'm going to send is simply them being added to my drip list. They had no interest in meeting me. I couldn't get an appointment. I don't know if they are worth meeting. At best, they are worth a follow up phone call in 6 months. The difference is that when I do call them in 6 months, they will know who I am because they've been getting dripped for 6 months. Keep in mind that this takes zero effort and zero dollars to do. I also may cold walk them. It's just not completely cold because they'll know who I am. What if they did show interest, but the timing wasn't right to set an appointment? The same thing happens. They get added to my drip list. They'll just get called sooner than 6 months. Again, when I call, they'll know who I am. If my initial cold call leads to an appointment, but the appointment doesn't lead to a fact finder, that meeting will determine how quickly the follow up will occur. In my practice, I'll never have a "call every two weeks until they scream "buy" or "stop". If I take a fact finder, they need to very quickly tell me "yes" or "no". I don't have time to chase after people. The majority of my sales take place at the fact finder. If something makes sense do it. I happen to feel differently about the trust continum. If someone is a referral, the trust is built in and it makes things easy. If something is cold, I don't mind having things slow down. I want them to forget that I was a cold call. In some ways, it is preferrable to me if I don't get the fact finder in the beginning. If I cold call and set a quick meeting and then don't get a fact finder, but have set a good first impression, that works for me. The person then gets dripped on and when I do call in the future, they know me, they know what I do, and they've been hearing from me every week, and I'm not a cold call to them. If a follow up appointment is scheduled, it's a fact finder, and the trust is there and they will become a client. I have a very fast process once someone takes a factfinder. Like I said, I expect them to become a client on the spot or one additional meeting at the very latests. However, I think that there's a real benefit to the factfinder not taking place immediately if it's a cold call. Don't get me wrong, I still try to get one right away. It's just that I don't care if I fail. On a referral, if I can't get one right away, we're done. It means that they don't respect the person giving the referral and it's not worth the effort.[quote=John Galt FA]All business owners are salesmen and promoters.
[/quote]
But who then, is John Galt?
Some unpatriotic and selfish cuss who doesn’t want the gov’t sucking his lifeblood out of him in the form of higher taxes used to create inefficient solutions and bail out inefficient businesses that have "been dying of the same heart attack for thirty years."
Galt took the CFP exam yesterday and today. Hasn’t had the chance to unwind yet.
Did you decide that you don't like to produce anymore?Some unpatriotic and selfish cuss who doesn’t want the gov’t sucking his lifeblood out of him in the form of higher taxes used to create inefficient solutions and bail out inefficient businesses that have “been dying of the same heart attack for thirty years.”
Galt took the CFP exam yesterday and today. Hasn’t had the chance to unwind yet.
Exactly. CFP="Can’t Freakin’ Produce"
Yeah, I don’t know why I agreed to do that. Actually I do know. I made a bet with someone that I’d pass that dang test before he did. And I cannot stand to lose.
Of all the hours that I spent on it, if I would have spent them prospecting (i.e., producing), I’d be a lot closer to goal. But, now I can focus on huntin’. My goal for '09 is 1mm in net new assets per month. Now, if I could just find some people who are not satisfied with their investment performance and would like to hear some different strategies.
I ask them what their favorite color is. Then I mail them a mutual fund fact sheet from the company that matches their favorite color.
Not really.
"Mr. Prospect, my name is Random Guy from XYZ Inc. I'm calling business men in [industry or company] who might be interested in getting together to talk about some ideas. For example, something I working on right now are tax free municipal bonds. Some have pretty attractive yields. Mr. Prospect, tell me a little bit about how your investments are weathering this economy? --- or ---- Mr. Prospect, I'd like to get together with you next week and talk about this and some other things we're working on right now. What day is best, Wednesday or Thursday?"
Dunno, something that gets a little traction. Change up the product, make it a stock on the firm's buy list that's paying a decent dividend or something else.