In reference to DNC not applying to businesses...that's not true.  You should know from the third party DNC administrator (I get the feeling you use the same one as me) that businesses frequently come up as DNC. 

The National Do Not Call Registry is only for personal phone numbers. Business-to-business calls and faxes are not covered by the National Do Not Call Registry.

Thus, it is not illegal to call businesses that may have their number on the DNC.

In reference to DNC not applying to businesses...that's not true.  You should know from the third party DNC administrator (I get the feeling you use the same one as me) that businesses frequently come up as DNC. "

Businesses that come up as DNC are already clients of your firm. That's why you are discouraged from calling them.

Yeppers.

anybody try going after physicians.  I have tried calling them and have actually started getting some success.



You have to get in with the G/K’s and just catch the doc at the right
time.  They are open to you seeing them because they always have
people come into there office. (pharm reps).



Also regin and drewski what gets you guys “amped up” to hit the
phones.  For me its usually the numbers.  Each dial = $$ in
production if you crunch the numbers.

Some of the wealth management studies show physicians are fairly penetrated (no pun intended). Obviously they have $$$ and are a targeted center of influence group, if I was cold calling, it would be business owners, and I would get them away from the office for coffee or a quick lunch, after prequalifying for $$ and interest. Everyone needs to eat and get some perspective on their options.

Who has clients that are Physicians?  



How did you get guys get this group?

Careful what you wish for. I had a couple of MDs, hated them, and am

finally rid of them. I wouldn’t take on another doctor as a client to win a

large bet.

younggunz and old-timers:

We have a very large producer in my office that swears by the motto, "when performance is measured, performance improves."  I have really found that to be true in my personal business.  Correspondingly, I have setup a system that holds me accountable to myself throughout the day.  I think the formula these days is: cold calls=prospects identified=follow-up calls=appointments set=assets in=production *more on that later.*  With that formula in mind, what I do is grab a coffee, sit down and write some tallies on a piece of paper:

ST (cold contacts)

FU & ST (follow-up calls and contacts)

PI (prospects identified)

APP & SET (appointments attended and set)

and the mothers: AI (assets in) and PC's (production credits)

I don't think this method amps you up as much as it breaks the occassional funk.  When you look at the sheet at 9:50 AM and its blank, your mind seems to race into action (I have actually found myself to overcompensate on these days and blow the doors off).  If you find yourself funking occassionally, try it.

On another note, I want to get back to my original formula. 

The conventional wisdom is that you start with cold-contacts, identify prospects through qualification, make follow-up calls and setup the appointment.  I have employed a new strategy in the last 2 weeks that I believe might be a short-cut.  Try qualifying the prospect significantly before picking up the phone (IE, build your own list that you are absolutely certain 25% of your targets would be good clients.)  Call that list, tell them all you are already going to be near them and want to drop by and give them a card.  I've seen my cc/app-set ratio hit the ceiling.  You get stood up alot, but it seems that you get infront of some real money. 

Oldbies, what do you think about this method?

Who has clients that are Physicians?  

How did you get guys get this group?

I work with some guys who have over 2000 physician clients.  The vast majority were gotten when they were in their medical residencies.  The hook was discounted disability insurance.  They typically make no money when they acquire the client...maybe $400 on the DI and a few dollars from opening a Roth.

It took them a long time to build their practice, but they are now poised to make major bank.

[quote=blarmston]

In reference to DNC not applying to businesses...that's not true.  You should know from the third party DNC administrator (I get the feeling you use the same one as me) that businesses frequently come up as DNC. "

Businesses that come up as DNC are already clients of your firm. That's why you are discouraged from calling them.

[/quote]

No, there is a seperate designation for current clients in my firm's DNC search. 

Let me pose this question to you...Joe and Jane Smith run a business out of their house.  You decide to cold call them at 7:00 a.m. because they are business owners and thus, should be working early.  You call, not realizing that their business line is also their home phone.  Are you telling me you aren't going to get fined for that? 

If the number is advertised as a business line, I don’t see that you’ve done

anything wrong.

Do a reverse number lookup on whitepages.com before you make the dial.  It will tell you whether it is a home listing or a work listing.

[quote=entrylevelFA][quote=blarmston]

In reference to DNC not applying to businesses...that's not true.  You should know from the third party DNC administrator (I get the feeling you use the same one as me) that businesses frequently come up as DNC. "

Businesses that come up as DNC are already clients of your firm. That's why you are discouraged from calling them.

[/quote]

No, there is a seperate designation for current clients in my firm's DNC search. 

Let me pose this question to you...Joe and Jane Smith run a business out of their house.  You decide to cold call them at 7:00 a.m. because they are business owners and thus, should be working early.  You call, not realizing that their business line is also their home phone.  Are you telling me you aren't going to get fined for that? 

Do wahtever it takes to get two face to face appointments per day.  If that takes 200, 300, 400 calls per day,then so be it.

If its their business number and they advertise it as such, and it turns out to be at their residence, I dont beleive you are in the wrong....

It goes a long way that if they get perturbed, you politely apologize for the confusion, tell them you will immediately remove their name, and thank them for your time... MOST people are pretty understanding about that... Of course, you may also get the occasional A$$ who has nothing better to do than file a complaint...

[quote=blarmston]

If its their business number and they advertise it as such, and it turns out to be at their residence, I dont beleive you are in the wrong…

It goes a long way that if they get perturbed, you politely apologize for the confusion, tell them you will immediately remove their name, and thank them for your time... MOST people are pretty understanding about that... Of course, you may also get the occasional A$$ who has nothing better to do than file a complaint...

[quote=entrylevelFA][quote=blarmston]

In reference to DNC not applying to businesses...that's not true.  You should know from the third party DNC administrator (I get the feeling you use the same one as me) that businesses frequently come up as DNC. "

Businesses that come up as DNC are already clients of your firm. That's why you are discouraged from calling them.

[/quote]

No, there is a seperate designation for current clients in my firm's DNC search. 

Let me pose this question to you...Joe and Jane Smith run a business out of their house.  You decide to cold call them at 7:00 a.m. because they are business owners and thus, should be working early.  You call, not realizing that their business line is also their home phone.  Are you telling me you aren't going to get fined for that? 

[/quote]

I stand corrected.  I checked the FTC website and if it is a business line, advertised as a business number in a business directory they can be called.  Pardon my ignorance, no excuse me while I go call the half of my list that I thought I couldn't call.

Great Thread. I started cold calling today. At my firm we have an 800 number that we use to place cold calls through. I am calling business owners from a local business directory. I’ve noticed that a significant amount are on the DNC or asked our firm to place them on their do not call list internally. When I dial the number I hear a recorded message saying “this number is on the do not call registry” and it blocks the dial from going through. I am a bit confused with the rules for the DNC lists to business numbers. It seems like some of you call businesses without regard for the DNC lists. I am not trying to say that anyone is doing it the right or wrong way, I am just looking for some clarification. Is there a way around the DNC lists for businesses? Do the DNC rules change if you are soliciting the business versus the business owner for their personal investment needs? I am also not trying to complain about this, there are still many business numbers not on the DNC. There is still plenty of opportunity. I just don’t want to blocked from calling numbers if I don’t have to be.

If you have to use the 800#, then you don't have a way around it.  Also, if they are on your firm's DNC list you can't call them regardless.