Cold calling can be a good way to drum up new business. Business isn't always banging down your door. By cold calling you can find new leads and begin to establish your presence with an expanded list of companies. Whether you do it during slow periods to try to boost business or hire staff to help you do it, a good cold calling plan can increase your chances of success.
Here are some things to keep in mind:
1. Take it Slow with Prospects
A mistake a lot of people make when cold calling is that they go for the sale immediately. You're a virtual stranger to the person on the other end of the phone so it's usually best to take things a bit slower. You might want to set up an appointment. You might want to ask if you can send a catalog.
Develop an action plan. Not all small business owners feel comfortable with cold calling and being aggressive. You don't have to be overly aggressive to make contact and offer an introduction in case someone is in need of your services.
2. Know your Audience
Who should you speak to? You don't want to necessarily launch into your sales pitch with a receptionist. She's just looking to take your call and field it somewhere else. Research can be helpful, especially if you're trying to get in with a company that you know has good potential.
Try to find out who you need to speak with. A bit of research and digging could be helpful. The receptionist isn't necessarily going to tell you who the maintenance manager is, for instance, but you could do some background research work to find out.
Search LinkedIn for the company name, for instance. You might find a list of employees (and associated titles) who work there.
3. Be Prepared
Have a plan for what you'll say but be prepared to step off the script. If your call sounds too scripted it will probably be a turn-off. And be prepared in case things move along quickly and go well with a prospect.
Some calls you make could move along faster than others so be ready with information that might be asked for. Be sure to have information handy (such as a price list) to help you prepare a quote. You may wind up calling the right person at the right time and if handled well, it could translate to an immediate opportunity.
4. Deciding Who to Call
Where should you look for companies to cold call? Local phone directories, online business directories, and look via Google with keyword searches based on business types. It's also not a bad idea to check out your competitors. They may have companies listed on their website that they deal with (under case studies or testimonials) as well as a list of people that they follow on Twitter.
It's also wise to join your local chamber of commerce and to attend business conferences and networking events in your area as new opportunities can continually present themselves when you look for them.
You'll find a lot of cold calling advice online geared to how to succeed and with tips for things not to say, too. Doing regular market research can help you continually find new sources of business.
5. Track Results
Don't just call hang up and move on after the end of each call. Keep a record of the calls you've made and track the results. If you use a CRM /sales pipeline management tool, it can be very helpful to add to this as you make the calls. Tracking results can help you continually refine your sales strategy and build up your contact database going forward.
6. Set Goals
Cold calling isn't the only way to do business but if you set cold calling goals (for yourself if you're a solopreneur or for your team if you have a sales team) and make sure that you regularly make calls to expand your reach you will start to see results and you'll also build on a sales skill that can be invaluable in business.
Not every cold call will go well but if you do schedule time to do this on a regular basis you will find opportunities and you'll also gather information to help you refine your style and script for progressive success.
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