by Marta Malyk | Sep 25, 2023 | Cold Calling, Sales, Sales Best Practices
When it comes to lead generation and closing new business, it’s probably not going to be a surprise to hear me say that I believe that cold calling is a critical component. I have had potential clients challenge me, asking: “Why not just ‘drop in’ to a likely customer? If you drop in and they’re willing to talk to you, you might even be able to close business that day.”
As owner of One of a Kind Sales, I work with businesses that provide solutions that may represent a significant investment for their customers. In my experience, a successful, same-day close is highly unlikely for this type of sale
The Pitfalls of the “Drop-In” visit
- An in-person visit requires non-productive travel time. A 30-minute drive means an hour wasted.
- If you happen to catch a prospect who is willing to talk to you, this person may have agreed because you’ve asked for a very short period – not what you’d need to close new business.
- You may be unprepared to have an in-depth discussion because you can’t predict which of the prospects you plan to visit will be able to see you.
- It is unlikely your prospect is prepared to have the conversation that you would need to have to close new business.
Ultimately an in-person visit to someone who does not know you (a cold visit) should have the same objective as a cold call: to qualify the prospect and make an appointment for a more substantive meeting.
Why Cold Call?
- Since the objective of the call is to qualify the prospect and set an appointment, there is no need to do any research on the prospects you speak with. Preparation is minimal.
- You can qualify more prospects more quickly by cold calling. There is no wasted “windshield time”. There is only the gap between one cold call and the next.
- Making an appointment allows your prospect the time to collect their thoughts so that the discussion will be more fruitful.
There is a direct relationship between the number of appointments with qualified clients and your sales numbers. Increasing the number of qualified appointments we make will result in increased sales. As an experienced cold caller, I would place my bet on using cold calling to drive sales growth any day. Cold calling is a skill that is often neglected in sales training.
If you would like to explore how cold calling can impact your business, please reach out to me at 908-879-2911. At One of a Kind Sales, we are experts at cold calling and would love to help.
by Marta Malyk | Sep 11, 2023 | Best Sales Practices, Cold Calling, Lead Generation, Sales
Businesses that consider using call calling often ask questions about its effectiveness. At One of a Kind Sales, having made thousands of cold calls, we can attest to its effectiveness in generating leads. But I recently came across some statistics from the RAIN Group about how direct outreach, including cold calling, is regarded by business decision-makers. Their research showed that more than half of senior decision-makers prefer to be contacted by phone. When businesspeople are actually in the market for a solution, more than 71% of them say that they want a salesperson to reach out to them directly. And up to 50% of sales go to the “first mover” – the solution provider that reaches out first to the potential buyer.
Often, we hear salespeople complain that prospects don’t pick up the phone, but the statistics show that 67% or two-thirds of buyers have picked up the phone at least once for a new provider in the past year. Making a direct phone call to a prospect is regarded as the most effective tactic by almost one-third of salespeople and you’re more likely to get new business from this type of direct outreach than from an email campaign. Yet many salespeople who are tasked with lead generation don’t have specialized cold-calling skills.
For people who sell for a living and any business that has a sales objective, evaluating the effectiveness of your lead generation efforts is important. Because we have limited time those resources must be allocated effectively. We believe that a business should have multiple channels to generate leads – a mix of inbound and outbound methods. Our experience combined with the statistics regarding the perception of cold calling among decision-makers strongly suggests businesses should be using cold calling as one of the lead generation channels.
What’s important about these statistics is that they show that if you are calling a list of people that are likely to need your solution you have a strong likelihood of qualifying strong leads and converting them.
Do you wonder if Cold Calling would work for your business? If so, give us a call to find out. At One of a Kind Sales, cold calling is our specialty. We qualify leads and set up appointments for our clients so that their salespeople can go in a close new business. We also train sales teams to do cold calling and can ensure that you have the proper systems in place to maximize the impact of cold calling. Reach out to us at 908-879-2911.
by Marta Malyk | Aug 28, 2023 | Appointment setting services, Cold Calling, Lead Generation, Sales
When people think about cold calling, they envision an aggressive phone call in which the caller pressures the person on the other end of the line into making a purchase. To me, this is the worst example of cold calling. This is what gives cold calling a bad name. One thing they have right is that cold calling involves making a call to someone the caller does not know, but there is a great deal of difference between what professional cold callers do and that negative image.
My business, One of a Kind Sales, uses cold calling to qualify leads and set appointments. Generally, we work from a curated list of prospects that have been identified because of their specific role in a business. Our objective is to understand whether any of these prospects have a need for or an interest in a particular product or service. This is sharply differentiated from attempting to sell the solution. Often the selling process is handled by a different person who is a solution expert. In our process, which we’ve used successfully thousands of times, if the caller determines there is no need or no interest in the solution, we end the interaction on a positive note. However, if a lead is qualified, meaning that they have a need and an interest, our team sets up an appointment for the expert who will speak to the prospect about the solution.
These cold calling interactions also have the potential to generate referrals. For example, if a lead is not qualified, the caller may ask whether there is another business they might recommend that we speak to that may need the solution.
Beyond the objective of near-term sales, cold calling can be used in other ways:
Market research – Speaking to a potential prospect is an effective way to gauge interest in a new product or service and get a better understanding of market needs.
Competitive research – Talking to your ideal prospects can help you gain insight into competitive activities.
Education – When a product or service is complex, cold calling can be done to provide general information that will give the prospect a better understanding of the product. Sometimes this is done in anticipation of the launch of a new product or service.
No matter the objective, cold calling should always be thought of as a way to establish a positive relationship with a connection that would enable you to re-approach them as a “warm” contact at a future point in time. Well-trained professional cold callers are skilled in establishing rapport quickly, and they have a genuine interest in learning more about their prospects’ needs.
When thinking about cold calling, it’s time to leave behind that old stereotype of the-high-pressure phone call. Given the competitive marketplace and the proven utility of cold calling, we need to think strategically about all of the options in the sales toolbox and deploy them when and where they can have the greatest impact.
If you are wondering whether cold calling could be a good approach for your business give me a call at 908-879-2911 or email me at nancy@oneofakindsales.com.
by Marta Malyk | Aug 14, 2023 | Sales
Have you ever been in a sales slump? I think all of us have at some point. But one of the things that I’ve realized over the years is that how we think about these situations and how we speak about them makes a real difference in how resilient we are. Ultimately, our resilience impacts how successful we are at managing through a period of slow sales.
I was struck by a recent article I read on the topic of resilience that was published on CNBC.com. A Harvard-trained psychologist said that we can identify resilient people based on how they talk about the situation that they’re in. They tend to be very deliberate in what they say about their challenges. Typical statements that a resilient individual might say to describe a difficult circumstance might be: “I can get through this,” “What can I learn from the situation?,” or “This is something I need to let go of.” To me, these statements reflect a recognition that they have control over how they respond to any given situation.
While the psychologist focused on what was being verbalized, my thoughts turned to ‘self-talk’ – the internal dialogue that we all engage in on an ongoing basis. I think that what we say to ourselves about a situation impacts how we feel and how we are able to respond. Our ‘self-talk’ shapes our reality and regulates our emotions. As a result, ‘self-talk’ can impact the outcome because it affects behavior.
If you find yourself thinking only negative things about a challenging situation like slower sales, you may be headed for trouble. Try thinking about whether you can turn the situation around in your head and look for aspects that you can control, whether it is how much you think about it or whether you can take steps to address a portion of it.
I’m not suggesting that we all become unrealistically optimistic, but I am suggesting that how we perceive a situation (as expressed in our self-talk) influences how effectively we can act. I believe that we can manage our thoughts to achieve the resilience that is going to help any salesperson work their way out of a slump.
Have you recently felt challenged by this? If so, reach out to me, and let’s get a conversation going about we might be able to find a way to help. Contact me at One of a Kind Sales by calling 908-879-2911 or emailing Nancy@OneofaKindSales.com.
by Marta Malyk | Jun 6, 2023 | Sales
Salespeople who are addressing complex customer challenges can spend a great deal of time anticipating and handling objections. In my experience, I’ve seen that the skill it takes to identify and address objections varies widely across salespeople. Here are the steps my team and I take to get at the true objections and discover once and for all whether a prospect is ready to move forward.
Step 1: We listen attentively and seek clarification as needed.
When a prospect presents an objection, resist the urge to interrupt or defend your product/service. Your ability to listen shows the prospect you take their concerns seriously.
Seek clarification using open-ended questions as needed to ensure you understand their concerns fully. This step helps you dig deeper into their underlying motivations and fears.
Step 2: We empathize and acknowledge their concerns.
Show empathy by acknowledging their objection without dismissing or belittling it. Let them know that their concerns are valid, and you appreciate their honesty. Establishing a genuine connection will encourage openness and trust.
Step 3: We carefully explore the root cause.
We’ve found that objections are often smokescreens for deeper issues. This is why it is so important to “get to the heart of the matter.” Skillfully probe your prospect’s reservations and encourage them to share candidly.
Step 4: We confirm our prospect’s interest before moving forward.
Armed with a deeper understanding, it could be time to present tailored solutions. But before you invest the time, confirm that the elimination of the problem would result in a project that is likely to move forward. A genuine prospect will show signs of receptiveness. If they are lukewarm despite your offer of a tailored solution, it is an indicator that it is time for you to move on to the next prospect.
Step 5: If appropriate, we offer the solution and ask for a commitment.
Once they have reviewed the customized solution, you might ask them what they believe the next step in the process should be. You’re looking for a commitment to the next step – a willingness to move toward a close.
Remember, not every objection can be overcome. Sometimes, we may uncover that our prospect is genuinely not interested or current circumstances prevent them from moving forward. Respect their decision and gracefully accept a “No.” Cherish the truth, as it allows you to focus on more promising prospects. By following these steps, you’ll be equipped to navigate objections with finesse and determine when it’s appropriate to continue a sales process.
At One of a Kind Sales, we love sales and cold calling in particular. If you need help with bringing your sales team to the next level or if you would like to outsource your cold calling, give us a call at 908-879-2911.
by Marta Malyk | Nov 7, 2022 | Best Sales Practices, Cold Calling, Cold Calling Success, Cold Calling Tips, Sales, Sales process, Sales Prospecting
A quiz for you:
Communicating your expertise and product knowledge to your prospect leads to a successful sale:
1/ True
2/ False
I came across this question in a session with a world-class expert in the Sandler selling method. This is one that can spark a lot of debate.
I’m aware that many salespeople are trained to be product experts. In fact, product or service training may be the lion’s share of the formal training that they receive from their company. Often, salespeople are coached to share their knowledge in order to establish their expertise with a prospect. This might be because the business perceives that the offering is so differentiated that once a prospect fully understands it they will jump at the opportunity. So, an encyclopedic knowledge of the offering and the ability to communicate it is often perceived as a major sales success factor for a salesperson.
However, consider the problems that could arise with this approach. What if we miss something critical because we are so busy “communicating” about our offering? When we first meet with a prospect, I believe it’s important to let the prospect communicate with us. What are their current issues? Why are they even talking to us about our offering? What problems are they trying to solve? If we move into “presentation mode” without knowing the answers to these questions, we risk losing the prospect’s attention by not addressing their core concerns. In order to get at these concerns, we need to take the time to ask the right questions and then engage in active listening so that the prospect can communicate with us and so that we can internalize what they are saying. We need a two-way conversation and, particularly early in the discussion, it’s ideal if the prospect does most of the talking. This is where we learn what we need to know in order to confirm if they are a good fit for our solution and then close the sale.
So what’s my answer to this question?
False: I’ve concluded that product knowledge and expertise aren’t enough to close the sale.
My recommendations:
- Avoid getting into the “nuts and bolts” of a product presentation immediately with a prospect.
- Slow down and take the time to get to know prospects in order to learn what motivates them.
When you truly understand their situation, you can then start to use your understanding of your offering to highlight how your solution will make a real difference for them. In my experience, taking this approach will improve the likelihood of a successful outcome.
At One of a Kind Sales, we love to sell and are lifelong learners when it comes to selling. Cold calling is our specialty. If your business needs help with getting appointments with qualified prospects, give us a call at 908-879-2911.
