Even in today's era of digital marketing, cold calls are an effective, time-tested platform on which to sell or generate interest for a product or service. But if you want to gain any momentum with your telemarketing, you should follow the formula outlined below.
Make Multiple Attempts
According to Sirius Decisions, the average salesperson makes just two attempts to reach a prospect or sales lead, after which the salesperson moves on to the next sales lead. This is a critical mistake, however, as sales leads may not answer during the first, second or even third call. So, don't lose hope if the sales lead doesn't answer, but instead set your alarm to make a follow-up call.
Identify the Sales Leads' Restraints
When calling a sales lead, find out what's holding him or her back from buying your product or service. Maybe it's the price, or perhaps they are contemplating another competitor. Regardless, you need to find out what's holding the prospect back, and using this information can address the prospect's concerns while subsequently increasing your chances of eventually closing the deal.
How can you find out the information from the sales lead on the phone? Start by having a conversation. Ask the sales lead what's going on in their business that prompted them to contact you in the first place. What are they trying to accomplish and what is the timeline? Then you can ask who else are you considering for the project. Now you have enough information to formulate a plan of action.
Create a Sense of Urgency
You should try to instill a sense of urgency when making cold calls. In other words, entice the sales lead to begin taking action now... not as opposed to waiting until later. Why is this necessary? If a sales lead feels inclined to act now, he or she will be more likely to buy your product or service. You can create a sense of urgency by offering prospects a limited-time offer, such as 10% off if they order within the next 24-48 hours.
The 40-40-20 Framework
The sales experts have HubSpot recommend using a 40-40-20 framework during sales calls, in which the first 40% of your sales call is asking the prospect questions, the next 40% is giving the buyer information to those answers, and the remaining 20% is closing the sale. Countless salespersons have experienced strong success when using the 40-40-20 framework, so give it a try to see how it works.
Nurture Prospects Throughout the Sales Funnel
If you aren't nurturing leads throughout the entire sales funnel process, you're missing out on one of the easiest ways to increase sales. According to a report published by Gleanster Research, nearly half of all sales leads are not yet ready to buy. So even if a prospect declines your offer during the initial phone correspondence, don't write him or her off as a non-sale. Continue nurturing the prospect with follow-up calls and correspondences to increase your chances of success.
What information can you nurture the sales lead with?
To make the information you have useful (brochures, case study, video), use SalesLeads' News. The News feature allows you to track up-to-the-minute information pertinent about your prospect. Simply input the company you want to follow and the area of information you want to gather. Now you'll get timely information on subject matters that are relevant to your sale cycle.
Now you can take that information and write an email or make a phone call with follow up information (brochure, case study, video). The result? Credibility. You're up on the news, and supplied relevant information to their business problem.