Cold Calling Tips And Million Dollar Sales Prospecting Secrets
COLD CALLING TIPS AND MILLIONDOLLAR SALES PROSPECTING SECRETSKen KroguePresident, Founder andChief Strategy OfficerInsideSales.comGrant Cardone Author, Entrepreneur, SalesExpert, Cardone Enterprises,The Cardone Group
Page 2IntroductionLast year, InsideSales.com president, KenKrogue, teamed up with Steve Richard, cofounder of Vorsight, for a webinar called“The Science of Using LinkedIn, Technology& Social Selling for Cold Calling.”The purpose of the webinar was to discusshow LinkedIn could improve sales prospecting efforts. LinkedIn is a powerful tool,and smart salespeople use it to conductpre-call research and find natural connections rather than using it for traditionalcold calling.It was one of the most successful webinars InsideSales.com and Vorsighthave ever done.That’s because cold calling is still a hottopic. Many sales professionals still consider it a critical tool in their sales toolbox.Cold calling remains one of the most costeffective ways of reaching new customers.InsideSales.com grantcardone.comDespite cold calling’s prevalence in theindustry, sales professionals still struggleto find consistent success.Many dread the idea of cold calling, andfind themselves nervous and discouragedevery time they have to dial a new number.Published by InsideSales.com34 East 1700 SouthProvo, Utah 84606877-798-9633Copyright 2015 InsideSales.com / 10v1All Rights ReservedThat’s why Ken Krogue teamed up withwell-known sales expert, Grant Cardone.Together, they hosted an insanely successful webinar where they each shared theirbest cold calling tips and sales prospecting secrets.This ebook focuses on combining the artand technology of sales to help improveyour cold calling and prospecting efforts.So whether you’re dialing a sizzling hotreferral or stone-cold lead, these provenstrategies will help you on your way toearning millions over the phone.Share this eBook:
Page 3Table of ContentsIntroduction 2About the Authors 4The Art of Cold Calling 5Traditional cold calling is dead 5Understanding levels of obscurity 5Don’t assume a prospect knows you 5Overcoming obscurity 6Grant Cardone’s 9 Cold Calling Success Tips 71. Have the right attitude 72. Believe in your product 73. Be persistent 74. Master the pitch 75. The big claim 86. Gains and losses 87. The best value 88. Respect your prospects 89. Diversify 9InsideSales.com grantcardone.comThe Science of Cold Calling 10Ken Krogue’s 7 Contacting Rules for Cold Calling Success 12Summary & Credits 16What is inside sales? 10The evolution of inside sales 10Increasing sales revenue 10Increasing contact rates 11Rule 1: Timeliness 12Rule 2: Persistency 13Rule 3: Time of day 13Rule 4: Day of the week 14Rule 5: Optimal times 14Rule 6: Direct-dial phone numbers 15Rule 7: Caller ID 15Share this eBook:
Page 4About the AuthorsKen KrogueGrant CardonePresident, Founder andChief Strategy OfficerInsideSales.com—www.kenkrogue.comAuthor, Entrepreneur,Sales ExpertCardone Enterprises—www.grantcardone.comKen Krogue, President and Founder ofInsideSales.com, is a results-driven salesleader and visionary for the inside salesindustry. The research and data-drivenapproach he uses has led to best practices forcontacting and closing leads. He pioneeredthe powerful sales automation PowerDialer ,a tool that increases the effectiveness andefficiency of inside sales professionals. Kenis also a regular contributor to Forbes.com.Connect with Ken on LinkedIn, Google andTwitter. Find out more about how to wringthe most value out of your leads by visitingInsideSales.com.InsideSales.com grantcardone.comGrant Cardone is a “New York Times” bestselling author, and the leading authorityon sales and social media. He is a highlyrespected business expert whose passion is toteach people and businesses how to expand,regardless of economic climate. His companies will do 100 million in revenue this year.His books, seminars, online sales training university (CardoneUniversity) provide people ofall professional backgrounds with the practical tools necessary to build their path to truefreedom.Share this eBook:
Page 5The Art of Cold CallingTraditional coldcalling is deadUnderstandinglevels of obscurityDon’t assume aprospect knows youIt’s fairly well accepted that traditional coldcalling is dead.Grant likes to use the term obscurity whenhe discusses cold calling. According to him,at one point or another, every communication you have with a prospect is cold.There are varying levels of obscurity. Forexample, someone might be familiar withyour organization’s name or remembermeeting you, but they might have forgotten what you do.These days, very few salespeople areblindly picking up the phone and randomlydialing numbers. If this is still how you’retrying to make sales, stop now.What he means is that while you might doyour research and know about your prospect’s industry, the prospect might stillknow nothing about you.Social media and online databases havehelped reps turn cold calls into warm calls.Salespeople now have the power to conduct pre-call research and learn importantdetails about a lead before ever pickingup the phone.You’re cold to them.Even with all of the new technology, thereare still elements of cold calling thatremain relevant.Obscurity is one of the biggest problemsbusinesses face. It diminishes your value,your brand and your business.In this sense, you’re going in cold becauseof your obscurity.The purpose of modern cold calling andsales prospecting is to move your organization out of obscurity and into familiarity.InsideSales.com grantcardone.comSales vocabulary sometimes uses theterms warm call or warm prospectwhen referring to someone who hasshown interest.Warm prospects often have some connection with you, whether through aweb-generated lead or a referral.However, you shouldn’t ever assume howwell someone knows you or your company.Grant shared a short story to illustrate theimportance of not assuming familiarity.He once walked into a meeting where hisShare this eBook:
Page 6The Art of Cold Callingclient had set an appointment with animportant decision maker.Because the prospect had agreed to anin-person meeting, you might assume thatthis prospect would rank as a little warmeron our sales thermometer.That wasn’t the case.Grant started the meeting by asking herif she knew why they were there. Herresponse? She didn’t have a clue.The signals pointed to her being a warmlead, but in reality, she was as cold asshe could get.If there is any doubt as to the temperature of a sales call, you’re best to treat it asthough it’s cold and start over.InsideSales.com grantcardone.comOvercoming obscurityAll of this begs the question: How can youincrease your chances of making a successful cold call?Every sales call is a little different, especially when it’s a cold call with someonewho doesn’t know anything about you.That’s a great question.The people we interact with, the productsor services we sell, or the industry weoperate in can all vary.As we discussed earlier, the key is toescape obscurity and gain familiarity.That doesn’t mean you can’t be consistently great at what you do.While there’s no magic formula to guarantee 100 percent effectiveness on everysales call, cold or warm, there is a structure you can follow to drastically improveyour sales prospecting results.Grant recommends following these ninesteps to build your brand and achieve coldcalling success.Share this eBook:
Page 7Grant Cardone’s 9Cold Calling Success TipsGrant suggests nine simple stepsevery rep should master, regardless ofthe situation.Give yourself a little pep talk each timeand remind yourself: “Hey, I can sellthis person.”So whatever you sell, keep these helpfulhints in mind.2. Believe in yourproduct1. Have the right attitudeAs the saying goes, 90 percent of everything in life is attitude.The same goes for sales.Before you ever pick up the phone, youneed to have the right attitude.Before Grant makes a call or sits down totype an email, the first thing he does is gethis head wrapped around the concept.He tells himself he can sell anyone on anydeal in any situation. It doesn’t matter if it’s58 cents or 58 million.InsideSales.com grantcardone.comYou’ve got to believe in what you’re selling.You’ve got to believe your product is worthat least 10 times the money and the timeyour prospect will invest in it.If you don’t believe in the product you’reselling, each time you pick up the phone,you’ll become increasingly unconvincingand robotic.Sell yourself before trying to sellanyone else.3. Be persistentYou’ve got to be willing to keep calling people back again and again untilyou reach them and they are willing tospeak with you.InsideSales.com research has shown thaton average, reps give up after only 1.3 contact attempts. That’s not enough.You have to adopt a mentality that youwon’t quit and bring that into everysales call you make. When a prospectsees your commitment and dedication,they’ll become much more receptive toyour message.4. Master the pitchYou’ve got to have your pitch down. That’swhy scripts are valuable and important.Whenever you’re making a sales call,whether it’s two minutes or 14 minutes,you need to know your goal.What are you hoping to get out of that call?Share this eBook:
Page 8Grant Cardone’s 9Cold Calling Success TipsIs it to close a deal? Is it to find out whothe decision makers are? Is it to get anappointment?Know your goal and tailor your pitchaccordingly, because each of these callswill require a slightly different approach.5. The big claimYou’ve got to have a big claim or, as Grantdescribes it, a monster claim.Your claim has to be something a prospect cannot regurgitate and a competitorcannot imitate.In other words, your prospect can’t ignoreyour claim and your competitors can’tmatch its value.Your claim must become a hook that sinksso deep in the client that it literally createsa picture they can’t erase.InsideSales.com grantcardone.comNobody buys anything except for onereason, to solve a problem. With your bigclaim, make sure to clearly express howyou will solve your prospect’s problem.Remember, sometimes people won’t recognize they have a problem until you pointit out. Wow them with what you know andwhat you can deliver.6. Gains and lossesBefore making a cold call, many peoplecomplain of nervous jitters.No one likes rejection, but that’s part ofthe sales process.Grant encourages every sales professionalto remember that with each call, they haveeverything to gain and nothing to lose.Great salespeople know this and itserves as a powerful confidence boosterand motivator.7. The best valueEvery salesperson must believe they havethe best value, regardless of price.What that means is you have to convinceyourself that even if you’re four times theprice tag, you’re still the best value.Understand what makes you better. Whyshould someone buy your product orservice over anyone else’s, even whenit’s pricier?Make sure to convince yourself of thisvalue as well as your prospect.8. Respect yourprospectsTreat everyone with respect.Sales reps who are calling people all daycan start treating new prospects like thelast eight people they failed to sell.Share this eBook:
Page 9Grant Cardone’s 9Cold Calling Success TipsThis is a big problem with cold calls.You need to start fresh with every call and treat each new prospect with respect. You can’thold them responsible for previous failed attempts. That wouldn’t make any sense.9. DiversifyDon’t put all your eggs in one basket.Or in the sales sense, never depend on one call.You need lots of calls to be successful. If you feel disappointment after being rejected on asales call, it’s because you have too little going on.Disappointment and rejection are not emotions, they’re indications that your model isbroken and you don’t have enough business going on.InsideSales.com grantcardone.comShare this eBook:
Page 10The Science of Cold CallingGrant has perfected the art of selling.The art of selling is what we envision whenwe picture great salespeople. In a figurative sense, great sales professionals knowhow to read the tea leaves and provide theright solutions to their customers at theright time.However, even if you’ve perfected yourpitch and followed Grant’s tips, it won’t doyou much good if you never speak witha prospect.Unless you find ways to reach yourprospects on the phone, you’re deadin the water.What is inside sales?To better understand the science behindcold calling, and sales prospecting as awhole, we need to take a step back andunderstand the nature of inside sales.InsideSales.com grantcardone.comPeople are unaware or misinformed aboutwhat inside sales actually is.Many mistakenly believe it’s telemarketing,but inside sales is much more elegant thantelemarketing.Inside sales is defined as professional salesdone remotely. Telemarketing is the annoying call you get at dinnertime, while insidesales focuses on professional B2B salesand big-ticket B2C sales.The evolution ofinside salesMarc Benioff, the founder of Salesforce.com, started his career as an inside salesrep for Oracle. While there, he became theyoungest vice president by the age of 23.He revolutionized the sales industry bycombining remote sales via the phonewith the Internet. His goal was to usetechnology as a means of replicatingface-to-face sales.Fast-forward to today, and inside sales hastaken the world by storm. It’s the fastestgrowing segment of sales and marketing.Right after the crash of 2008 when everything changed, it outgrew traditional salesby 15 times.Even today, it’s still growing 300 percentfaster than traditional sales.Increasing sales revenueThe drive to replicate face-to-face sellinghas led to dramatic improvements in salestechnology.This is evidenced by advancements invideo conferencing and mobile solutions.But how can these new technologies actually improve sales?That’s a great question.Share this eBook:
Page 11The Science of Cold CallingWhen it comes to increasing sales andrevenue, there are four key levers an organization must focus on:1)2)3)4)Volume of attemptsContact rateConversion rateDeal sizeThe purpose of sales technology isto directly impact one or more ofthese levers.For example, if you can increase thevolume of your dials, your reps will speakwith more prospects, close more dealsand ultimately generate more revenue.Increasing contact ratesWe recently did a survey and asked salesprofessionals to identify their biggest challenges. Reaching a busy decision makerwas the second most popular answer, rightbehind lead quantity.InsideSales.com grantcardone.comThat is one of the biggest drawbacks ofcold calling.eBookIf you’re making an unexpected call tosomeone who doesn’t know you, it canseem almost impossible to get him or herto pick up the phone.This is where science and technology can help.Grant has taught us what we need tosay to increase conversion rates once wereach those busy decision makers. For thisnext section, we’ll focus on Ken’s insightson what research has revealed about successfully contacting your prospects.Optimize your cold callingefforts & boost contact ratesDownload NowShare this eBook:
Page 12Ken Krogue’s 7 Contacting Rulesfor Cold Calling SuccessWhat is the scientific method? It means making observations and doing experiments toanswer questions and find answers.InsideSales.com has conducted a number of surveys and research projects over the yearsto get to the bottom of what works best in sales. These studies have uncovered importantinsights and best practices to help any rep sell more.Rule 1: TimelinessResponse time5 MINUTE10,000CONTACTS MADE FROM FIRST DIALS10,0008,000Best time to respond:within 5 minutes8,000ContactsAt InsideSales.com, we practice the scientific method.6,0004,0006,0004,0002,00010x decreaseafter the first5 minutes2,0000.05M05 Min10 Min15 Min20 Min25 MinResponse TimeThis rule is based on a research study we did with Dr. James Oldroyd while he was with theMassachusetts Institute of Technology (MIT).Contact and qualification rates drop dramatically in justminutes and continue to decrease over the next few hours.For larger view click imageIf someone goes to your site and gives you their information, how long do you havebefore you need to respond?You must get back to them within five minutes. If you wait 30 minutes, you are 10 timesless likely to reach that person. Also, if you call someone back within five minutes, theodds of qualifying that person are 21 times greater.So how fast does the average salesperson respond to a lead? 39 hours and 22 minutes.When that much time elapses, sales teams miss a lot of opportunities to set appointments with qualified prospects and close deals.InsideSales.com grantcardone.comShare this eBook:30 MinRESPONSEThe momenlead compluntil a salecontacts th
Page 13Ken Krogue’s 7 Contacting Rulesfor Cold Calling SuccessRule 2: PersistencyRule 3: Time of dayPersistency means you need to keeptrying. Grant highlighted the importance ofpersistency as one of his key steps.Here’s an interesting question. Are therecertain times of the day prospects aremore likely to answer?Most reps only call a lead 1.3 timesbefore giving up.They falsely assume that if someonedoesn’t answer right away, they must notbe interested.That’s just not true.Most people are just busy. InsideSales.comhas found the ideal number of contactattempts is between six and nine.We’ve found that reps who make at leastsix call attempts have a 90 percent chanceof reaching their prospect.Our studies have shown there are. Salesreps are more likely to make contact withsales leads at the beginning and endof the day.Best times to make contactCONTACTS MADE FROM FIRST DIALSBest timeto call3,00025002nd besttime to 0008 AM9 AM 10 AM 11 AM 12 PM1 PM
contacting and closing leads. He pioneered . The Art of Cold Calling Every sales call is a little different, espe-cially when it’s a cold call with someone who doesn’t know anything about you. . deal in any situation. It doesn’t matter if it’s 58 cents or 58 million.
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Sales Definitions Prospecting - Finding potential customers is called "prospecting." Cold CallingCold Calling - Cold calling typically refers to the first telephone call made to aCold calling typically refers to the first telephone call made to a prospective customer. More unusually these days, cold calling can also refer to calling face-to-face for the first time without an appointment at .
Cold calling and doing business over the phone is becoming a more significant part of a sales person's job every year. This is not very good news for many sales people as just about everybody can agree that cold calling is one of the more difficult and less desirable activities that needs to be done during the day. Does cold calling work?
2 Cold Calling Bootcamp Introduction COLD CALLING BOOTCAMP Table of Contents . sell the idea that cold calling is dead to the group of . business acumen to be able to speak to them in their language, and
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