Whether you are you doing it in person or over the phone, cold calling potential prospects can be extremely hard and frustrating. The aim of doing this, is to warm up a potential customer and if you are not used to doing it, the process can be difficult.
No matter how good looking, eloquent or persuasive you are, it does not mean a thing if you never get the chance to position yourself in front of a prospect.
A meeting face-to-face will get you better conversion rates and build a long lasting relationship to build more referrals. Because in a crowded market you need to stand out against all others who rely on the phone and internet.Cold calling, if mastered, can get you in the door. #financialadvisors #insurancemarketing Click To Tweet
Here are 5 ways of improving your cold calling tactics:
1. Have a strong mutually beneficial reason for calling
Your ability to get your prospect’s attention is a key factor in whether you get a little more time on the call. Part of that is having a strong call reason. This is why a unique approach [click to learn more] such as providing a free and relevant product is a great way of gaining a prospects attention.
Firstly because they have already showed their interest for it, so you know it’s something they want. And secondly it gives you a reason to set up your appointment to deliver the kit and use the telephone call as an introduction to your sales pitch:
Once you’ve made the appointment to deliver the free product, here’s a simple example of how to get the conversation going:
Advisor: “If I may ask, do you and your partner currently have a mortgage on your home?”
Prospect: “Yes, I Do.”
Advisor: And, if I may ask, do you have insurance to pay off your home for your family if something were to happen to you?”
Prospect: “No I Don’t”
Advisor: “How do you feel about that?”
Prospect: “I never thought about it, but I just can’t afford it anyway”
Advisor: “I totally understand and can tell you that few people have extra money lying around. It is however important to have the home paid-off for your family if you weren’t there tomorrow, right?”
Advisor: “Well, if you will let me, I could show you how to get the insurance cover you need to protect your family at our appointment, without taking any additional money out of your pocket. Would you like to know how?”
Example 2- Death/Disability Cover:
Advisor: “If I may ask, do you have any children?”
Prospect: “Yes, I Do.”
Advisor: And, if I may ask, do you and your spouse have adequate cover should
something happen to either of you?”
Prospect: “No, we don’t”
Advisor: “How do you feel about that?”
Prospect: “I never thought about it, but we probably can’t afford it anyway”
Advisor: “I totally understand and can tell you that few people have extra money lying around. It is however important to make sure that your family will be taken care of in the event of your death or disability, right?”
Advisor: “Well, if you will let me, I could show you how to get the adequate disability and death cover you need to protect your family at our appointment, without an additional burden on your pocket. Would you like to know how?”
2. Do some prep-work
Cold Calling is something which is evolving, and you need to evolve with it to give yourself a fair chance by being professional and having the ability to leave a good impression.
Here is the minimum preparation you should be doing before making a call to a prospect:
- Have the name, direct phone number and email address of the prospect on hand
- Have a clear idea of your call reason and what you’re going to say
- What are the likely objections this person will have and how you’re going to handle them
- Have access to your diary to book those appointments in
Here are examples of some good opening lines to use, after introducing yourself:
- John, if I’ve caught you at a good time, what I would like to do is ask you some questions…
- The purpose of my call is to let you know that I’ve worked with some of your colleagues to lower their life insurance premiums and that’s why I wanted to connect with you.
- I can tell you’re busy so I’ll be quick
Here are a few not-so-good lines which you should avoid:
- I’d like to learn a little more about you to determine…
- Did I catch you at a bad time?
- I’d like to see if there are some ways I may be able to assist you.
These lines do not capture immediate attention or encourage the prospect to engage with you. In fact, it can take away from the initial attention the prospect has given you.
If you wanting to secure an appointment with your prospect, here’s a proposition which works well:
What’s the best way to get things underway? I could call you back once you’ve had a look at your diary or we could just confirm it now. What works best for you?
3. Find a connection
As tedious as it may seem, doing homework on the person you’re calling will definitely make a difference. It can be as simple as doing a Google search on the company he or she works for or looking up the prospect on LinkedIn.
Finding a personal connection with the prospect, whether it’s through online research or during the phone call itself can prove helpful. You may just discover that you have something in common, like a high school or university.
During the call, you may even discover a common interest, like golf or chess and it may just be the ice-breaker to get that appointment in your diary!
4. Have some confidence, belief and energy
Sounding bored and tired will be the end of any conversation. Remember that your voice is the only thing you have to persuade people with when you are making a phone call – so do give it your best. Your voice needs to exude energy and enthusiasm in order to persuade others. It’s probably not the best time to make that call when you are not feeling energetic and enthusiastic.
When you not feeling enthusiastic and energetic, Be careful of your energy levels throughout the duration of the call. If you are making a number of calls over a period of more than an hour, your motivation can naturally drop off over time. This may impact your confidence and belief in yourself and one bad call can affect you in a negative way. Rather make the calls in shorter spaces of time.
Prospects can easily notice when confidence is missing on the other end of the line! If you don’t have strong belief and confidence in yourself, they won’t either so watch out for this.
5. Don’t ask stupid questions#ColdCalling Stupid questions will lose your credibility and rapport immediately.… Click To Tweet
Anything that asks about things which they would not want to disclose and questions that have no value, are off bounds. The person doesn’t even know you. Why would they want to give you information over the phone?
Here are a few classic examples of stupid questions:
- ‘When is your contract up for renewal?’
- ‘How much are you currently paying for?’
- ‘What will it take to get your business?’
By asking these kinds of questions, you are giving the inclination that you are a typical cold caller. Basically – don’t give them an excuse to get rid of you!