Thnks Long The Call, nice to get good feedback.

Been a good week on the farm, got 450K done, up to 3.65M. Been working a different schedule, arriving at my desk at 7am to get my reading and paperwork done, then on the phones. I'm keeping Mondays free of everything but the phone so as to get as many meetings posible booked. had a look at the posibles for this month and there's another 2.something that could make it over...so I'm going to keep on top of them, convert pipeline to meetings and and find new meetings and prospects from calls.Been a lot of good post lately and it's pretty encouraging reading comments from those who are sharing their experience.

All The Way

Good to see you are approaching 5MM.  You talked about a new schedule....

Any insights on how you are slotting in the call backs in addition to the 50/day?  Are you making new calls in the morning, then making call backs around lunch (intial interest prospects to ask for appointments).  Just curious on how you manage the pipeline to get those meetings, or if they say no how do you reclassify them?

Murdoc,

Thanks…those are great questions. I always start my calls with call backs, for the simple reason to make sure I get back to them soon enough to make sure they are good prospects. So basically I aim for +-30 minutes of call backs, then hit the cold calls.

As for those that say no…well…no to what. If they have no interest, they are deleted. If it’s a timing thing, then they get re-scheduled. If good to go, then the meeting is booked. Really getting better at keeping the pipeline cleaner.

I kind of have to force myself to start with call backs, for some reason, cold calling is easier for me, so I push to start with the tasks that give me a bit of trouble first, get it out the way and then move on to the easier one’s. Sounds odd….but….that’s the way I am.

All The Way

Pretty happy about today. Because I booked 3 meetings straight there and then on the cold call.

The last few weeks have been a bit discouraging when it comes to calling on Mondays. Two weeks ago, on a Monday...did 50 contacts and nada de nada. Last Monday, again 50 hits and 1 meeting. Today, had 3 booked by the 30th contact. Just goes to show, it all averages out.

Anyways...got good files on the go, good meetings lined up and should get some decent numbers this month...more to come.

All The Way

All The Way/Ulari/Murdoc.... are you calling all business or do you do any residentials?  When calling business whats your pitch to get through the gatekeeper?  Or do you even have that problem?  Logically it seems that the contact ratio for business would be lower than residential because of the GK, but what do i know!

@all the way

What pitches are you using? You seem to be doing very well!

Mase,

Calling both.  It seems like residentials are good from 10am-12pm.  After that, they are usually out and about till 5pm, in time for dinner.  That being said I'll call businesses from 8-10, then from 1-5pm.  Contact ratios are better for businesses for me.  Someone wrote before that they are getting a 1:7 ratio for businesses and 1:10 for residentials.  That has pretty much been the case for me.  For residentials I always pitch the wife if the husband is unavailable.

Gatekeepers: If they ask what it is regarding, repeat your name and state Prospect is "familiar with our company".  Easier to drop this line if you are at a Major Wire.  If the Gatekeeper insists say, "It is regarding a personal financial matter, is so and so available?"

Remeber you always have another number to dial on the list and only so much time and energy on a daily basis..simply move on.  If a gatekeeper wants to be a pain in the ass, who cares...next

ALW - I have adopted your pitch (from when you posted it back in DEC/JAN...I have made a couple tweaks to fit my personality. I am no where near the dial and contact rate you guys keep up, I am lucky if I do 40 dials in a day...lots of reasons for this...

Anyhow, I would be curious to see what your pitch looks like now after 4 more months of working your system. Would you mind posting the current version?

Thanks!

Stealthall, 40 dials a day really doesn't meet the minimum of calling yourself a cold caller.  If you are not consistently hitting a minimum of 150 a day, why even do it?  The numers just aren't going to justify the pain.  Think of cold calling as trying to get a plane to take flight.  To get that hunk of metal in the air it takes a massive amount of energy and power for a prolonged amount of time.  Puttering down the runway making quick hits to the throttle is never going to get the plane to take flight.  You're simple wasting runway (time) and It just isn't going to work! 

There is do and there's don't.  There is no try. 

The whole it is a numbers game is BS fed to you by managers (once they hit your pipeline, yeah its a numbers game), it is all about who you are calling and when you are calling.  I have been cold calling into the same market for going on 5 years now.  I make 30 calls a day and talk to 30 qualified people.  It takes me just about two hours.

When I was calling random businesses or households you might reach 30 people in 300 calls, efficiency is key.  Now if you are only gathering assets and do not offer planning or hourly fees my strategy would not be the best for you.

There are a number of markets that I can think of where you can guarantee a contact ratio of of at least 50% thus not needed to waste hours on end "smiling and dialing".

Mr. Net New - I do it because I enjoy it and target very high net worth people. I also manage a good size book and do not have a lot of time during the day. I am in the process of restructuring my week to allow me to dial 100+. I do about one seminar every other month and a couple other unique networking events every month. I added in cold calling a month ago and am still trying to figure out the best schedule. 

Stealthall, Spike101x & Mase

 Yeah…still using the same pitch, short and works for me.

I only call residential, from 10am onwards, really good in the mornings and over lunch….today got a meeting, did call backs and eliminate 9 prospects from the pipeline, glad to see them go, kind of hate seeing some names show up, again and again on the call backs, and not really get anywhere.

I don’t claim to be an expert at this, got a pitch and market that works for me, still need the volume of calls to get it moving and it seems that at 40-50 contact a day things happen….

I only wish I would have started this sooner as I’m kind of under the gun. Management  this week or next, will be giving me a deadline and an asset target to get…or else…so I’m really putting in the effort…….just aren’t any rookies left in my office and I probably need to get another 15M in the books by the end of fall. I thought I would have got 10M done by end of June, will be short so there a gap to fill and I want  to stay here. I’m ending my 2nd year and am the last rookie here, seen 5 go….and I don’t want to go.

Anyways, I’m the only one cold calling in my office, all the others are veterans and pretty much set and the other guy is in his 5th….so I really enjoy this site , the feedback and reading how others are doing…..just helps a lot to keep hammering away. When guys come on and tell what they’ve done with the phone……man….it’s great….keeps me going….  

All The Best

All The Way

This is XXX calling from XXX.

Is this ___________

I’m part of the private client division at XXX,  are you familiar with my firm…

 And the reason for this call is in light of these frequent downturns in the markets,; we’re holding information sessions in our XXX office

 These sessions last about 30 minutes and appeal to people who feel that at this junction, it would

I’m calling to see if this would be a timely invitation for you.

[quote=Mase]

All The Way/Ulari/Murdoc.... are you calling all business or do you do any residentials?  When calling business whats your pitch to get through the gatekeeper?  Or do you even have that problem?  Logically it seems that the contact ratio for business would be lower than residential because of the GK, but what do i know!

[/quote]

I do businesses in the morning, meetings in the afternoon, and residentals between 5:00pm and 7:00pm. It depends on whom you're contacting for businesses, many times you'll get the owner of a small business. Corp execs can be harder but you never know. I do leave messages which many don't do but I have had good luck with that and I think it's more professional.

I’m currently calling on this script but I’m going to try calling on a specific product for a month and see how that does.

“Hi  Mr/Mrs Prospect

My name is Ulairi at firm XXXX in downtown CITY. I help people keep more of what they earn, how do you feel about the amount of income taxes you are paying? (pause) If I could show you away to potentially keep more of your money, would you be interested in hearing more? (pause) If they are interested I move into questions trying to qualify them and talk about munis and the benefits of holding individual securities.

I’m thinking about changing it to:

My name is Ulairi at firm XXXX in downtown CITY. I help people keep more of what they earn, how do you feel about the amount of income taxes you are paying? (pause) I have access to bonds paying X% tax free, how does this compare to what you’re earning now? Then get more into the bonds.

Hey the replies you guys gave are all great and really helpful,  I see a lot of guys that are smartasses on this site you guys are keeping it professional and people benefit from it.  I see theres a mix between calling business and residential, im in the process of building my giant list to start pounding away at.  Thanks for the feedback and good luck on those phone lines fellas!!

Ulairi,

Sounds week and timid.  Maybe it's just me but why not just come right out and say what you're selling!  In my opinion, the worst scripts are the ones that smell like fear.  Don't be afraid to hear NO! 

Good morning!  My name is Bud and I'm calling from Bernie's chop shop.  I'm calling individuals in your area because I've been told by a few of my clients that people in your area love investing.  From what I see thus far, most of your neighbors like A rated Bonds.  Are your favorite securities solid yielding bonds or dividend paying stocks?

From there......  Don't be afraid!  Keep going!  Keep asking questions.  Personal ones are best!  If you feel uncomfortable you're doing it right!  

Worst case?  You've got to pick up the 10lbs pound phone and dial again.  

Maybe you need to lift some weights.  

[quote=Itainteasy]

Ulairi,

Sounds week and timid.  Maybe it's just me but why not just come right out and say what you're selling!  In my opinion, the worst scripts are the ones that smell like fear.  Don't be afraid to hear NO! 

Good morning!  My name is Bud and I'm calling from Bernie's chop shop.  I'm calling individuals in your area because I've been told by a few of my clients that people in your area love investing.  From what I see thus far, most of your neighbors like A rated Bonds.  Are your favorite securities solid yielding bonds or dividend paying stocks?

From there......  Don't be afraid!  Keep going!  Keep asking questions.  Personal ones are best!  If you feel uncomfortable you're doing it right!  

Worst case?  You've got to pick up the 10lbs pound phone and dial again.  

Maybe you need to lift some weights.  

[/quote]

I'm not afraid of sayinig anything. I'm the only one who cold calls in my office so I was just posting what I was trying to do. I have no problem being direct, but being a newbie I thought being too direct may turn prospective clients off.

‘This is KingBobby from SlipperyRock Investments.
We have a tax free bond fund that pays the equivalent of 10%. It pays monthly and is easy to redeem at any time.
Is this something you want?’ (Or for training wheels), ‘If this is something you want, I can send over some information.’

Stealthall, Spike101x & Mase

 Yeah…still using the same pitch, short and works for me.

I only call residential, from 10am onwards, really good in the mornings and over lunch….today got a meeting, did call backs and eliminate 9 prospects from the pipeline, glad to see them go, kind of hate seeing some names show up, again and again on the call backs, and not really get anywhere.

 

I don’t claim to be an expert at this, got a pitch and market that works for me, still need the volume of calls to get it moving and it seems that at 40-50 contact a day things happen….

 

I only wish I would have started this sooner as I’m kind of under the gun. Management  this week or next, will be giving me a deadline and an asset target to get…or else…so I’m really putting in the effort…….just aren’t any rookies left in my office and I probably need to get another 15M in the books by the end of fall. I thought I would have got 10M done by end of June, will be short so there a gap to fill and I want  to stay here. I’m ending my 2nd year and am the last rookie here, seen 5 go….and I don’t want to go.

 

Anyways, I’m the only one cold calling in my office, all the others are veterans and pretty much set and the other guy is in his 5th….so I really enjoy this site , the feedback and reading how others are doing……just helps a lot to keep hammering away. When guys come on and tell what they’ve done with the phone……man….it’s great….keeps me going….  

All The Best

 

All The Way

This is XXX calling from XXX.

Is this ___________

 

I’m part of the private client division at XXX,  are you familiar with my firm…

 And the reason for this call is in light of these frequent downturns in the markets,; we’re holding information sessions in our XXX office

The focus here being…measures to generate regular and predictable, income, (such as dividends and interest) ……That is paid monthly and quarterly into client’s accounts.

 These sessions last about 30 minutes and appeal to people who feel that at this junction, it would

be of benefit to talk with someone else than their current advisorAnd get some information that suits a more cautious investors going forward…  

I’m calling to see if this would be a timely invitation for you.

Don’t worry about management’s decision or whatever. They’re not exactly helpful resources in your office regarding your prospecting. Your career will be fine even if you jump ship, or better just go Indy and call. You’re gathering the assets!

[quote=KingBobby]'This is KingBobby from SlipperyRock Investments. We have a tax free bond fund that pays the equivalent of 10%. It pays monthly and is easy to redeem at any time. Is this something you want?' (Or for training wheels), 'If this is something you want, I can send over some information.'[/quote]

What tax rate do you guys use to find the equivalent? I was going to use the 28% bracket.