Will sales reps cold call – and learn to like it? Yes, if shown that cold calling is effective in gaining access to decision makers and Key Player executives. The sales person needs to learn to approach cold calling differently -- and should use cold calling to cultivate an internal referral and not to initially call the Key Player. Why not?
A survey* of senior executives was conducted to determine under what circumstances they would respond to a contact from an unknown salesperson. Responses showed that eighty percent (80%) of senior executives are unlikely to ever respond to an inbound sales call. Not great odds. Other than golf, not many people enjoy an effort that yields such disappointing results.
The executives surveyed further indicated that the most likely way to gain access to them is a referral from someone inside their own company. Eighty-four percent (84%) will always or usually respond to an internal referral. A prospecting technique that has been shown to have 84% effectiveness? What sales person wouldn’t use it? -- once they are shown how to use cold calling to generate internal referrals. I conduct CustomerCentric Selling® Cold Call Seminars and real-time Cold Call Coaching, and the most common error made by reps is the lack of a plan for a successful calling session. Before calling the targeted Key Player, I coach the rep to intentionally call laterally or one level lower, as well as to non-key players within that company.
The objective of these calls is to gain an insight into the prospect company that cannot be gleaned from researching their website or other sources. The sales rep is looking for a "hook." I recommend that the rep be very upfront about the reason for the call – they are gathering facts to prepare for a conversation with one of the prospect’s executives.
The rep should be prepared with questions that reflect the research done on the prospect before the call. The questions will help the sales person to identify a goal, need or issue within that prospect that might be addressed by your company’s offerings. Conscientious and relevant questions also demonstrate to the prospect that the rep is credible, interested and respectful of the contact’s time.
Surprisingly, most people called are open to these conversations, and at ease in responding to questions. After all, the sales rep isn’t trying to sell anything to them – they are just asking for help. Even very busy executives rarely rebuff a sincere request for assistance. Often a lateral or subordinate executive will offer that, "Yes, you may indicate we spoke, and these were my thoughts.” Bingo! The sales person has crafted the referral from inside the company.
The result of cold calling with such an approach is this: The rep can make each cold call productive. Knowledge - if not access - can be harvested from every conversation. After only a couple calls, the sales person will have documented many pages of useful notes from these “staging” conversations within the target company, and, as a result, will be much more knowledgeable about the prospect. This achievement in itself makes cold calling much more satisfying. And the sales person becomes increasingly confident as they polish their cold calling abilities.
Selecting from the gathered notes, the rep crafts a unique script. Yes, the rep should prepare a written script for the call to the targeted Key Player, and should practice that script until it sounds fluid but not “scripted.” This script can refer to the earlier conversations within the company, use the referring colleague’s name, and highlight the issues or goals uncovered.
Then, with confidence and skill, the rep tackles that critical cold call to the Decision Maker -- this time with the odds in your favor.
I totally relate to this!
ReplyDelete