Small Business Sales Strategy: The Art of the Cold Call
Having a small business sales strategy is a must to survive in a competitive landscape. Often, one part of this sales strategy is cold-calling. Although it can be challenging, with a little practice and a few pointers, you can learn how to build new business over the phone.
- Have a targeted list. Cull names from trade association directories and chambers of commerce, or purchase lists from private companies listed under “mailing lists” in the yellow pages. Remember, though, the best list comes from the referrals you obtain from current customers. Having a list will save you time, and that means you can make more calls. Cold-calling is a numbers game, and the more people you call, the more successful you’ll be.
- Do your homework. Know more than the name of the company before you call. It’s important to be informed so you can be convincing when you explain how you’ll benefit them specifically.
- Speak to the decision maker. This may not always be the person in charge of buying. If in doubt, ask the receptionist to direct you toward the person who makes the decisions.
- Make a plan and write a script. Having a script will keep you focused and make it easier to speak succinctly. Be enthusiastic, and word your questions in such a way as to avoid taking no for an answer. Whenever possible, give the client options other than yes and no.
- State your business, and make it brief. The cold call is not the time to make a sale, it’s the time to whet the client’s interest and set up a time to meet. Briefly explain the benefits of working with your company, back it up with a case history and ask for a specific meeting time. Suggesting a time rather than asking when would be convenient gives the impression that your time is as valuable as the prospect’s. Don’t make small talk. Time your speech before you deliver it, and keep it to 60 seconds or less.
- Timing is everything. Don’t call during busy times. Mondays and Fridays are generally not the best time to get your foot in the door, and no one wants to speak to a salesperson at mealtimes. It’s a good idea to call during unorthodox times, perhaps before 9 or after 5; bosses typically work longer hours. If the person to whom you wish to speak is not available, ask when would be a better time to call.
- Don’t be afraid to leave a message. But don’t leave a message the first two times you call. The unfortunate truth is heavy hitters don’t often return unsolicited phone calls. When you finally do leave a message, ask a question about the company you’re calling – most people can’t resist talking about themselves, and asking a question will make a prospective client more likely to call back.
Cold calling can be intimidating, but it’s a necessary skill to learn if you’re going to grow your business. The right training is all that’s needed to turn the cold call into an extremely profitable activity. In addition, new technologies give you the tools to call potential customers in a strategic manner, which can really warm them up.
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Thank you for this concise straight to the point advice. Currently I am in a position where I am making cold calls. I got a list of prospects yesterday from a colleague and what asking myself as to what is the best approach to cold call these prospects. I will put these points to action, that’s the only way to know if they will work for me.