First day cold calling a FLOP

[Delta76]

I cold call for about 70% of my business, the rest comes to me mainly by referral and that number keeps growing. I don't know the senior market, so I won't be much help there. That being said, I do know my number religiously for calling in the under 65 health market.

50 decision maker contacts (not dials) ='s a placed health case in the next few months

Using a predictive dialer, I can do this in about 3 hours of telemarketing. A further breakdown:

1 in 10 contacts becomes an immediate lead
2 or 3 of the same 10 contacts wants me to keep in touch (I then email drip on them) and usually time my call to when just after they receive their rate increase
7 of the remaining 10 contacts aren't qualified or have no interest and I politely let them get off the phone immediately.

My script works effectively, but it's more how you say it than the way it reads. You almost need a "who cares" attitude when making the calls and to make a game out of it. If you talk to enough people, the rest will work out.

I would share my script, but I don't know if it would work well in the senior market, never tried to work that niche. If you want some help on the under 65 market, shoot me a PM.

 

[moonlightandmargaritas]

Are you an internet guy? Or do you focus on mailers, seminars etc ... Internet is expensive ... however, I know there are cheap adwords out there ... if you can find the right niche wording ... how do you advertise yourself? Do you have a company name? Do you go for the cheapest price? do you go for the better company? What is your hook? I don't want you to share all your tricks but I'm curious as to what you do ... there is always a bit of mystery behind your posts ... the only thing i'm clear on is that you feel cold calling is not as effective as marketing yourself ... Makes sense ... that is what big companies do ... i've never had a Taco Bell rep call me to sell me a taco

How would they even know if you like tacos?

I do a LOT of different things:

I buy internet leads (and use a "process" much different from most).

I do speaking engagements with small business groups (primarily realtors as a target).

I do direct mail to a self-employed, small business list that I have compiled.

I do drip e-mail marketing (permission based list).

I do a monthly e-newsletter (permission based list).

I have "centers of influence" that refer business to me. They are primarily accountants who use me as a "go-to-guy" for Health Savings Account stuff.

I write articles and e-books on buying individual Florida health insurance.

I use a diligent process to acquire referrals from my existing clients.

All this stuff together positions me as an expert in my field. Many people come to me, and when they do, there's no "mating dance" - they're ready for a solution to their problem. I'm not some schmuck calling them (as human spam) to tell them I can save them 30% to 470% on their health insurance!

It takes some work on the front-end, but in the long run it is easier, less frustrating, less expensive, and most importantly; MORE EFFECTIVE than cold calling.

PS-Before anybody posts or sends me a PM asking to send them an example of this, that or the other, sorry, I can't. It's just too time consuming...

 

[Delta76]

I buy internet leads (and use a "process" much different from most).

I do speaking engagements with small business groups (primarily realtors as a target).

I do direct mail to a self-employed, small business list that I have compiled.

I do drip e-mail marketing (permission based list).

I do a monthly e-newsletter (permission based list).

I have "centers of influence" that refer business to me. They are primarily accountants who use me as a "go-to-guy" for Health Savings Account stuff.

I write articles and e-books on buying individual Florida health insurance.

I use a diligent process to acquire referrals from my existing clients.

I know from talking to Paul on the phone that he's a pro and practices what he preaches here. Why not start implementing the strategies he uses along with your cold calling efforts. Here are some examples of how to combine the two:

1. You meet with a prospect who you cold called. Ask them who their accountant, P&C broker, and financial advisor are. Tell the prospect that you are always looking for networking opportunities, "would you mind if I give him a call and mention I'm working with you?" Call the P&C broker and mention you have a common client and invite them to lunch to see if you can help each other.

2. As you cold call, you will run across people who tell you what carrier they have, but are not interested in looking right now. Instead of throwing that info away, compile your own list. How valueable do think a list is where everyone on there buys what you offer? When their carrier changes rates, give them a call.

3. Monthly email newsletter is a great way to stay in touch with people you spoke with.

4. Use articles you write to build trust from a cold contact. Depending on the coversation with the prospect, I send a link to an article they may find pertinent to their situation that I wrote to start building trust.

 

[moonlightandmargaritas]

Delta's stuff/ideas is/are even better than mine.

What you've got to do is think.

btw Matt, a little cool here today - only about 70 (sunny though). What's up in Minnesota?

 

[HomeService]

This business is way different than car sales. If you worked at , let's say, a Ford dealer, and you got people who normally bought Ford cars on the phone, and maybe people who normally bought Ford trucks on the phone, or pick ups in general, and told them to come on down next time they were ready to deal, you may find a few who were ready to trade in their old car- right then.

Insurance is different. You are taking the car with you out and showing it. You are driving the car up to the door of these people. But the car is insurance. Very hard to do this over the phone. Plus, a big part of this car , let's say the engine, is you. You are selling the engine first, then the car to put around the engine, and you are doing all of this in person. Once they see you, the engine, in person, it's hard for them to say no to the engine, if you point out the needs and the the solutions. You are selling two or more working parts, and a random voice on the phone is tough to deal with.

Unless you just sell the appointment on the phone. Then the appointment allows you to drive the car , with the engine, up to the door. Sell the appointment. Sometimes with me, the appointment is no longer needed because I popped in there un-announced, sans appointment. I skipped a step. But I ususally have "be backs", where I come back at a certain time. That's an appointment. I usually gather brochures and quotes and stuff, before the next appointment. I do a little fact finding on the first visit. I am old school, but that's what I do.

Unless you are just selling totally over the phone, telesales. Then forget everything I just typed.

 

[mkortz]

I cold call for about 70% of my business, the rest comes to me mainly by referral and that number keeps growing. I don't know the senior market, so I won't be much help there. That being said, I do know my number religiously for calling in the under 65 health market.

50 decision maker contacts (not dials) ='s a placed health case in the next few months

Using a predictive dialer, I can do this in about 3 hours of telemarketing. A further breakdown:

1 in 10 contacts becomes an immediate lead
2 or 3 of the same 10 contacts wants me to keep in touch (I then email drip on them) and usually time my call to when just after they receive their rate increase
7 of the remaining 10 contacts aren't qualified or have no interest and I politely let them get off the phone immediately.

My script works effectively, but it's more how you say it than the way it reads. You almost need a "who cares" attitude when making the calls and to make a game out of it. If you talk to enough people, the rest will work out.

I would share my script, but I don't know if it would work well in the senior market, never tried to work that niche. If you want some help on the under 65 market, shoot me a PM.

This is great advice.

Cold calling can be very effective, plus it doesn't cost anything unlike other marketing methods.

Personally, I think 100 cold calls per day is a good number. 25 calls per hour, 2 hours before lunch, and 2 hours after lunch.

Your remaining time can be used for making follow up calls, going on appointments, organizing your lists, and learning the trade.

Things like alliances with CPA's are great, but are a real tough sell for someone just starting out. Make your calls and pay your dues.

Have you tried taping your calls and listening to yourself?

Based on your username, are you a female? If so, you'll have to grow some thick skin quick. Females aren't used to hearing 'no' all of the time. It can be rough at first.

Hang in there!

 

[Delta76]

btw Matt, a little cool here today - only about 70 (sunny though). What's up in Minnesota?

I feel for you. I'm not sure what the temp is now, but it was 15 when I got to my car this morning. Back to scraping the windshield. My grandparents in New Port Richey tried convincing me to come down for a week this winter. It's a long shot, but it keeps getting more tempting. If I do, I'll have to track you down for a beer or a round of golf. I'll be the guy in shorts with the pale white legs.

 

[jody108]

So Homeservice, you are a door2door guy ... I'm not partial to either phone or doors ... my mentor is a phone guy but he said some guys do a lot better at the door ... i'm not sure which is best yet ... i appreciate the information you provide ... always learn from your posts ...

Great stuff guys ...

 

[moonlightandmargaritas]

I'll be the guy in shorts with the pale white legs.

Well in the wintertime, that's only about seventy-five to eighty percent of the guys in Pinellas and Pasco counties...

Nonetheless, if you get here, you're on.

 

[somarco]

Females aren't used to hearing 'no' all of the time.

I hear it all the time.

Along with are you freaking crazy?

Is that ALL you think of?

Not tonight.

No, I will not do it in on the golf course.





Oh wait, we are talking about something else, aren't we?