There is an art to using cold calling to generate leads, but this article will start you with the framework and show you how to do cold calling successfully.
Cold calling lead acquisition is a numbers game. 1 out of every 59 cold calls ends with a meeting or a referral for more business. You’re going to experience a lot of rejection, but the opportunity for success outweighs failure when you are strategic.
- Cold calling lead acquisition is a numbers game, and strategic planning is essential to succeed.
- Use a simple script to control the call, but sound friendly, not robotic. Practice until the words come out naturally.
- Frame the call to focus on how you can solve your lead’s problem, not your bottom line.
- Assume the sale by using assertive language and always communicate the benefits.
- Automate as much as possible to save time and focus on leads who are more likely to convert.
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1. Be strategic by planning.
A cold calling best practice is to start off with your goals and a list. Your list will most likely come from a third-party lead generation business. It’s good to have a minimum number of leads to call to meet your conversion quota.
You want to map out your cold call strategy by knowing how many hours you plan to commit per week or how many calls you want to make per week. Just remember, cold calling is a numbers game.
2. The power of the cold call script.
Most people dread sales calls. The first inclination is to hang up on a salesperson. Some people will politely listen to you before rejecting your offer. We’re a cynical culture when it comes to sales, which Is why the opening of your call is the most important part of the call. This is the greeting portion.
One of the biggest mistakes you can make is not planning your script ahead of time. When you know what you’re going to say you increase your confidence. It’s important that you sound casual and friendly during your call. You don’t want to sound robotic like a call center employee reading from a call center script.
Using a script allows you to have control of the call. A simple script outline you can use is:
- Description of your services
- Ask for the appointment
- Plan for objections
Don’t sound like a robot while using your script with a prospect. Practice memorizing your script and record yourself so that you can hear how you sound and learn how to modify your tone and pace.
3. Practice makes perfect.
Practice your script out loud until you’re comfortable with the outline. You will have different scripts for different lead types. When you practice your script, you sound professional, confident, and knowledgeable.
Record your script rehearsal and listen to the way you sound. Adjust your tone where needed. Keep practicing until the words come out conversational and natural.
4. It’s all about them, not you.
You need to make sure the call is all about your lead. The introduction and description should be framed in a way to inform your lead how you can solve their problem and the benefits of staying on the phone with you.
5. Assume the sale.
You don’t want to come off like a pushy salesperson. However, you want to be assertive without being aggressive. You can do this by using assumptive language. Assumptive language sounds confident, and people respond more positively to being led by a confident person. Self-conscious and insecure-sounding salespeople have a higher rate of rejection.
6. Always communicate the benefits.
Every call you make needs to be about your lead and not about closing the sale. If all you’re thinking about is your bottom line, your lead will be less interested in working with you. You want to show the caller that you are working with them in their favor. Every deal is a team effort.
Always lead with how you will solve their problem and the benefits they will experience.
7. Ask for the next step.
Always ask for the appointment using assertive language.
Questioning (you are giving the power to the lead)
- “Would you like to schedule an appointment with me now?”
Assumptive (you take ownership of your power)
- “Let’s prequalify you for that mortgage loan that you’re interested in so that we can find you the best rate. What does your schedule look like this week?”
8. Provide follow-up actions.
You want the lead to feel engaged by being involved in the process. Let your lead know that you will send them a follow-up email with the confirmation details of the appointment. This is the best time to send them through your sales funnel to prequalify them before you meet for the scheduled appointment.
A great sales funnel automation that can help pre-qualify your lead is the Unfair Advantage™. Our automated marketing funnel will help you filter out leads who won’t qualify and send them to an appropriate funnel for later lead conversion.
9. Rejection is inevitable.
Cold calling has a high rejection rate. Don’t take it personally. Accept rejection. It’s going to happen a lot.
Remember that you are calling with a valuable offer for someone interested in the outcome your service will provide them with. If they aren’t interested, then assume you didn’t have the right offer. In sales, “no” means “next one.” Just make your next call.
10. Automate as much as possible.
Calling fifty or more cold leads is a lot of work. Imagine emailing every prospect individually after a call. Time is a valuable resource which is why you need to automate as much as possible.
The Unfair Advantage is an example of an automated process. The automated marketing funnels are developed around the loan acquisition process. The system has automated emails and workflows to engage leads and take them through a personal home-buying process based on individual borrowers’ needs.
If you need help evaluating your current process, you can schedule a free Fastrack call to map it out and get started with automating your system.
11. Leave a voicemail.
Who listens to voicemail these days? A lot of people do when they don’t recognize your number, so always leave a voicemail. Your voicemail should be scripted just like your call for the best impact.
When you leave a voicemail, be sure to include the following details:
- Greeting (use their name and your own)
- Benefit (Reason for the call)
- Contact info
Make sure your message sounds friendly and confident. Communicate a beneficial urgency, but do not rush your message.
Using effective cold calling techniques creates opportunities
Cold calling can be a lot of work, but the rewards outweigh the challenges. It is still a great way to generate leads because it works. It allows you to connect to a live person and establish trust. When you have a plan and a script in place, you have an opportunity to use another tool to close more deals.