Walking Does Not Work - Kenny Madden Article
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@Breffni-Potter said:
Hi @kennym
If cold calling does work, why do so many vendors lose my business when they do it?
I've got a company, I want to generate more sales, how do I do it with cold calling then without
- Turning people off
- Annoying people
- Getting added to a phone black list.
Playing advocatus diaboli, as a former salesman (I loath cold calls as well):
- You will anger people and this should not bother you
- Some people will never do business with you after the call, this should not bother you either
- Use a google voice number
- The tiny fraction (around 1%) who you do sign up will make you $$$$$$$
<insert "winning" tiger blood coked out sheene gif here>
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@JaredBusch said:
@Minion-Queen said:
I have to agree with @Dashrender on this one. Cold calling is going into a situation with no data, nothing. "Can you put me through to the person who does your purchasing...".
To me, a cold call does not mean no information. It means not prior relationship. If I was in sales, and had to make cold calls, I would do a quick bit of Google searching to pull up some information to maybe get me past the initial rejection impulse.
I agree with @JaredBusch and @thanksajdotcom here. If someone calls me and we have no relationship, no matter how much they know about me, that's a cold call to me.
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Ok, into the rabbit hole.
Is the 1% who listen to cold calls my target market?
The people I anger, Will I not be making my customer base smaller?
How much does it cost for me to be making those calls? If I take on a sales guy to do it, how much is he costing me for a 1% success rate? -
@Breffni-Potter yes sir i get it. cold calling does work it's just has to be done in the right way. some good friends who happen to be IT folks helped me out a few years ago with this
https://www.linkedin.com/pulse/buyers-manifesto-vendors-kenny-madden?trk=mp-reader-card
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@scottalanmiller ye indeed. a lot of sales and marketing folks say thing klike a social call, or warm, hot call etc. If you are not expecting my call it's cold mate.
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@MattSpeller said:
@Breffni-Potter said:
Hi @kennym
If cold calling does work, why do so many vendors lose my business when they do it?
I've got a company, I want to generate more sales, how do I do it with cold calling then without
- Turning people off
- Annoying people
- Getting added to a phone black list.
Playing advocatus diaboli, as a former salesman (I loath cold calls as well):
- You will anger people and this should not bother you
- Some people will never do business with you after the call, this should not bother you either
- Use a google voice number
- The tiny fraction (around 1%) who you do sign up will make you $$$$$$$
<insert "winning" tiger blood coked out sheene gif here>
That's the theory and it is one way for things to work. And it DOES work. However, you are fighting for the worst 1% of potential customers with everyone else that uses this method. So it depends on your target audience. If you want discerning customers, this won't work. If you have nothing worth selling and need to sell only to people who are not discerning, this can work.
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Some thoughts:
tThe traditional numbers-focused sales and marketing model has fallen apart. Especially when selling or marketing technology products to savvy, tech folks. They don’t care about our products and services, they care about what those things can do for the businesses they run. The old school strategy of hiring more “feet on the street” or hiring 100’s of inside sales people to cold call 100’s of times a day looking for sales growth or generating volumes of leads is proving wildly inefficient.
Here are 4 easy tips to help you get above the clutter and noise in less time than it takes to make a cup of coffee…
Go to the website of the company you’re calling before picking up the phone. You are now in the TOP 10% of sales/marketing people in the US.
Go to the website and actually read something about the business you’re calling. Congrats you just made the TOP 5% of sales/marketing people in the US.
Go to the company’s website, read something , tailor a specific message that fits their business OR tell them something they don’t know. TOP 1% (Read: Exceptional credibility. ) -
@Breffni-Potter
You're looking at this from the perspective of a nice person who wants to make friends and shake hands and do good business. This is not the perspective of someone who cold calls (at least in my experience).
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@MattSpeller said:
@Breffni-Potter
You're looking at this from the perspective of a nice person who wants to make friends and shake hands and do good business.
Nothing as nice as that...I just want to make money.
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@MattSpeller i suppose i am Matt
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@Breffni-Potter said:
Is the 1% who listen to cold calls my target market?
100% are your target market, it's your job to keep them on the phone, invite them for lunch, offer them deals, occasionally be a jerk, bait and switch, beg, borrow, steal, promise and anything else you can possibly do to get them to be your customer. How far you go with it depends directly on how bad you want their business in my experience.
The people I anger, Will I not be making my customer base smaller?
Yeah absolutely. There's also an argument to be made that you're intentionally sorting out the wheat (dumb rich customers) from the chaff (smart fiscally responsible ones). You want the wheat.
How much does it cost for me to be making those calls? If I take on a sales guy to do it, how much is he costing me for a 1% success rate?
Well, to start an hour a day of your own time. I suggest getting some real hard core sales training first. There is quite the knack to it.
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@MattSpeller said:
@Breffni-Potter
You're looking at this from the perspective of a nice person who wants to make friends and shake hands and do good business. This is not the perspective of someone who cold calls (at least in my experience).
Right, making sales and doing good work is often at odds with each other. No good answers around that. But that's why you rarely see awesome products making tons of money, you see mediocre ones with great sales people.
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@aaron yep. I have found being upfront honest and really straight to the point works well.
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@kennym said:
@MattSpeller i suppose i am Matt
Prepare yourself for 110% top quality absolutely disgusting human being, but good lord the man can sell over the phone.
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@kennym said:
@aaron yep. I have found being upfront honest and really straight to the point works well.
More than most things
Once the buyer gets that used car salesman feeling, it's fight or flight in most cases. -
@MattSpeller said:
@kennym said:
@MattSpeller i suppose i am Matt
Prepare yourself for 110% top quality absolutely disgusting human being, but good lord the man can sell over the phone.
The problem with sales products like this is... they are sold by an expert salesman. The training is probably crap but you'll buy it just because he is so good at sales!
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@mlnews said:
@MattSpeller said:
@kennym said:
@MattSpeller i suppose i am Matt
Prepare yourself for 110% top quality absolutely disgusting human being, but good lord the man can sell over the phone.
The problem with sales products like this is... they are sold by an expert salesman. The training is probably crap but you'll buy it just because he is so good at sales!
Absolutely true, but how better to show successful tactics than to watch a master at work
(please FTLOG do not buy anything that sleezy creep is selling, ever, even if he has water and you're on fire)
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@aaron said:
Kenny defines cold calling as "You are calling someone not expecting your call - It's cold mate"
Yes, an unsolicited communication is cold calling. Unless I have reached out to you via phone/email, it's a cold call because I am not interested.
Scenario #2 happens to me and I entertain it because you reached a superior or someone important, but I am still not buying. If there are phrases like "Not sure if it's appropriate" or words like assumption/traction/goals means it's going into the junk mail bin.
I make it easier.... my extension is not public and no one on the team is a direct buyer. So if you want to sell something, you have to get through to someone and then get that someone to convince other people that they aren't just swallowing a sales line. We get just about zero cold calls through to anyone that would consider buying something. Works really well.
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@MattSpeller Ha. i know i know.
