Salespeople who set a goal to find ten new customers this month are setting land mines and then stepping on them. Ten new customers is a result. Results can’t be controlled.
Instead set activity goals. Set a goal to send twenty-five emails to existing customers asking for referrals this month; go to two networking functions this month; send ten tweets to drive people to your website each week.
Then, use the Paradox of Cold Calling: instead of calling to find new customers, call to eliminate prospects. Get them off your list, get them out of your life – get them outta here. Don’t know about you, but I can get rejected 10, 20, 30, 40, or 50 times a day without breaking a sweat.
But the funny thing is…as I’m calling to eliminate prospects, I’m taking the exact activities it takes to find new customers.
- 44% of salespeople stop calling on the prospect after one call.
- 22% stop after the second call.
- 14% after the third call.
- 12% after the fourth call.
- Thus, 92% of salespeople stop after four calls.
Combine that information with this:
- 15% of the prospects can make a decision within 1-2 calls.
- 15% within 2-3 calls.
- 35% within 4-5 calls.
- 35% within 5-7 calls.
Notice that 70% of the people you call on will not even make a decision until you get beyond that fourth call. If there is a magic number, it would be five.
But as long as a prospect is using a service or product I sell, I never stop calling. The reason: things change. Decision makers come and go, money comes and goes, needs come and go, and competitors come and go.
This information is from my book, Cold Calling for Cowards: How to Turn the Fear of Rejection into Opportunities, Sales, and Money available in ebook or paperback
Posted in Books, Cold Calling, Sales, Sales Management
- Tagged closing, entrepreneur, management, motivation, objections, persistence, personalities, presentations, sales psychology, Small Business
An Inconvenient Truth
“In the United States, anybody can become president. That’s the problem.” – George Carlin
“What is conservatism? Is it not adherence to the old and tried, against the new and untried?” – Abraham Lincoln
“Liberals claim to want to give a hearing to other views, but then are shocked and offended to discover that there are other views.” – William F. Buckley
Waking Rip Van Winkle
“The Republican convention started this past weekend, so don’t forget to turn your clocks back 400 years.” – Jay Leno
Oh, Knock It Off!
“Never miss a good chance to shut up.” – Will Rogers
“A word of advice: don’t give it.” – A.J. Volicos
“When the other person nods his head affirmatively but says nothing, it’s time to stop talking.” – Henry Haskins
“Finish every day and be done with it. You have done what you could; some blunders and absurdities crept in; forget them as soon as you can. Tomorrow is a new day. You shall begin it serenely and with too high a spirit to be encumbered with your old nonsense.” – Ralph Waldo Emerson
Count On Me
“Your future depends on many things, but mostly on you.” – Frank Tyger
Know What I’m Saying?
“Sometimes they write what I say and not what I mean.” – Pedro Guerrero
During a break in our Cleveland seminar, an owner told me I should change the name of our seminar from Cold Calling for Cowards® to “How to Make Warm Calls”. He stresses to his salespeople to think of their calls as being warm calls and not cold calls to make the process more fun.
Couple of things.
First, the title of the seminar has brought in over 150,000 attendees. Why? The title is emotional. People identify with the feeling.
Second, cold calling isn’t fun. It works. But it isn’t fun. Cold calling sucks and changing the name isn’t going to take the dread out of the process. Just like the rose, cold calling is still cold calling by any other name.
The truth about cold calling? Those who actually do it know what I’m talking about.
Posted in Cold Calling, Sales, Small Business
- Tagged body language, books, Business, dress, entrepreneur, humor, job interview, listening, meetings, motivation, networking, objections, presentations, qualifying customers, referrals, sales management, scripts, telephone cold calling, voicemail