Tom's Top 10 Tips on B2B Cold Calling

I learned the old fashioned way on how to prospect for sales from a combination of mentors and courses over the years, but in the end, like stage time, the more you do something, the better you get - and cold calling for business is no different.

I guess my first sales job was canvassing for my newspaper route and learned at an early age I didn't like the "nos" - so overcoming objections did not come naturally to me like it seems to with some, but it is something you can learn to minimize by reducing opportunities for a no to come up. And part of that, is in controlling the questions you ask to open that door with.

I once sold riso-graphs door to door to businesses, and while some of that was just showing up at a business cold, most times were with appointments made by cold calls. Either way, the first contact to create new business, is often initiated through a cold call, and thus they are extremely important. Blow one and you could jeopardize any future business with that company or person - and that's something you want to avoid.

My first step was understanding completely what these riso-graphs were and what types of businesses could use them. Looking back, although I had some success, I didn't fully understand its "fit" but I found out "risos" were a good for businesses that relied heavily on multiple print copies of documents, and clients that had them would use risos to reduce printing and photo-copying costs. So my sale would often include a proposal that showed how much savings they could have by leasing or buying one. And we also supplied the ink....Not a great job but a great learning experience. My mentors then, a former Zerox salesman, as well as 70 year old sales journeyman who looked 50 and seemed very at ease in his craft.

After that I worked a stint as a Business Broker, taking their in-depth course on the art of business brokering complete with tests. And again, prospecting for clients was part of that curriculum. In that particular scenario you sought out businesses that might be interested to sell - or they contact you - and you'd prospect for buyers for them for a commission. The unique twist then is that most businesses don't want their existing customers to know they are for sale and you must be creative to prospect for them.

Upon graduating film school I took a position as an Associate Producer of feature films and it was here that I learned the most about what it took to be a successful cold caller - and what it really entails. These cold calls however were to result in investing partners in our productions and often the entire deal done over the phone, including walking them through the paperwork. The movies were produced in limited partnerships with each film being its own property and we'd sell partnerships into them. Investment levels were $25,000 US minimum investment up to $100,000 and we were taught to seek the right person  - most times never even meeting in person - and someone who could afford to lose the entire investment without it breaking them. I was trained to further qualify them first also before just sending info, thus increasing the odds they would become an investor.

I know now it can be done as I raised about $1,000,000 for the feature film productions, over the four years I was there with Galactic and then Enriching Entertainment and was the top producer in the office. My Executive Producer had previously made over 30 feature films this way, in Hollywood, and was a master salesman. It is he who I give credit to having taught me the most on cold calls and sales.

Here are some general rules and scenarios for those making cold calls.

Cold Call Do's and Don'ts

Firstly - know your goal for the call ( to make the sale) and your products strengths and weaknesses thoroughly before getting on the phone, as you will want to know that information inside out to form "rebuttals" and "overcome objections" and create interest or excitement in your product or service.

Never promise or guarantee anything - you can't guarantee the sun will even rise.

Never open with, " How are you?" -
I'm crappy and broke and too busy for sales people. Have a nice day. Click!

Never ask a question you may not like the answer to. - "So how's your day going?" see above

Never leave a message on an answering machine as you lose "control" of the sale - call back until you get someone in person.

Never leave it with someone offering to get back. - You can't do business waiting on a phone call.
" I understand. I'm on the road a lot and also am hard to get on the phone.  When's the best day or time to catch you/ him/ her in the office to call back?

Make Notes - Always make notes of the calls you make including to whom, what time, who you spoke with, who you want to speak with, and notes on any obstacles to the sale you may have gleaned from your previous contact so that you can address those objections to complete the sale in the end.
Does Mr Jones decide who you buy widgets from or does that go through a head office?

Always be polite to the receptionists as they can be key to getting you to the right person. She can supply the name or department you'd want to address but her job is also often to keep people away so you must be creative. Sometimes it is a spouse also.

Never lie or bullcrap your way through -Integrity rules - you can be creative in communicating without lying. If you don't know the answer to something use it as a reason to get back with them again.

That's a very good question Mr. Jones, I actually am not sure, but I'll find out for you. 

Clients don't "Need" you. We don't need anything in life, we want things.

Energy - Stay off the phone when you don't have energy as it will only do you harm.
Stand up when you have a buyer on the phone.

Odds - It's a numbers game, the more calls you make the more you'll close. Don't waste time on calls where they just like to chat or are not the decision maker - although creating repoire is good.

Qualify them - Once they've agreed they might be interested, ask some qualifying questions of your own. It's part of the control of the deal.

" I can just send you the info package but it may not be for you Mr. Jones. (Take-away close)
Have you done similar investments before? What other types of investments do you have in your portfolio?"

Cold Call Examples

Receptionist: Good afternoon Jones and Wilson how can I direct you call?

A - I'm not sure. maybe you can help me. It's Tom Thumb calling and I'm just wondering who is in charge of widget purchasing?

R - That would be Mr Jones but hes not available. He's very busy. Can I get your number or does he have your number and maybe he can give you a call?

A - He could, but I'm often on the road and wouldn't want to miss the call. When's a good time when he might be available?

R - Thursday afternoons he's here but he's not always available. Would you like to leave a message to his voicemail?

A- Thank-you I appreciate that. I was hoping to speak with him in person. I'll try and call back on Thursday then and see if he might be available. Thank you again.

Note: You now have the name of the person who you want to connect with. Next call you ask directly for that person, 

Following Thursday -

R- Good afternoon Jones and Wilson , Martha speaking, how can I direct your call?

A: Mr Jones please. It's Tom Thumb calling.
(if they ask, add company name, no hesitation and repeat it w your first name like they might already know you) Tom from Pearson's Widgets.

R: One moment.. is he expecting your call?

A: Not today, I was just hoping to talk to him about something for a few minutes.

Often you will get through at this stage, however not always - and it may still go to voice-mail.

Do not leave voice-mail if it goes though and do not call back more than once more that day. Wait two weeks after that to try again - but refer to your notes on who to ask for, receptionists name etc, and try to always be friendly no matter how negative they may sound.

Sometimes you'll get a receptionist 'gatekeeper' who takes pride in rejecting sales people, so you have to be creative at times, but eventually, if you have patience, you can get through them too.

R- What's the name of your company?

A - Pearson's Widgets

R - Well he's not interested in new widgets right now. You can leave a message if you'd like.

A - I can appreciate that, and was hoping to speak with him personally as I have some information I think he'll be interested in. Is there a better time or day to call back?

R - No. We're always busy. I can take your number and have him call if you want to leave it.

A - Thank-you I appreciate that but I'm on the road a lot and wouldn't want to miss the call as it's happened before. Maybe I'll just try back again and hope to get him. Anyway thank-you so much. What was your name again? 

R - Martha

A- Thank-you so much Martha. And when do you think is the best day of the week usually when he might not be as busy?

R - We're always busy but you can try Wed's in the AM sometimes. 

A - Thank-you. Very much appreciated. Bye for now.

OR

R: You can email him/her or mail him what you have and he'll get it and if he likes it he'll be in touch.

A: Yes that would be great. My boss likes us to just qualify with the party responsible first before we do that though so I'd just want to confirm a few things with him personally before sending it. You can appreciate that we want to ensure we send the proper information to you right? ( hard for her to say no to that question)

It's all about control and same goes when you move the contact towards it being a sale. Your next call she may begin to soften, just keep insisting you have something important you want to share personally with the buyer.

Once you do get through though, you have perhaps a minute to two to make an impression and garner interest, or lose it, depending. Your initial goal is a face to face meeting and not necessarily the full sale yet - although you should always ask for an order - quickly introduce yourself, pinpoint the area you think you can help them and ask for an opportunity to present it.

Pitch : 

It could be as simple as:

Hi Mr Jones, its Tom Thumb calling from Pearson Widgets and i was wondering is you might have time to meet with me sometime next week. We've just a new line and as I understand you carry widgets is that right? (Gets him to say the word yes)

B: Yes we do but we have a supplier already.

A : I can appreciate that and am not looking to replace your suppliers but I think we have a unique niche that many of our clients are telling us are really cost savings effective and just wondered if you might want to just have a look at that. I'm sure saving money interests your company?

B: Yea sure, but how much money is it saving and what's the quality like?

A - Each scenario is different, and it depends on a few things, for example I understand you use steel widgets - ours are made from recycled materials and are considerably less expensive than the old iron ones. I know recycled does not have a reputation for strength but I think you'd be impressed with our test results and the potential costs savings. I have an opening next week Wednesday AM or Thursday at various times in the afternoon .Would that be suitable?

Next time - moving the sale to a close!

Tom Pearson out!