(Photo by Yosep Sugiarto)

Cold calling—for many the mere thought sends shivers down their spine. They don’t like to do it and in many cases justify their refusal to cold call by saying it doesn’t work. But they’re wrong. When done correctly, cold calling is an extremely effective sales technique.

What does it take to succeed at cold calling? Here are some best practices, which are discussed in depth in RainToday’s New Cold Calling Strategies Kit:

1. Make sure you talk to the right people. Don’t blindly call people. Start with a list of qualified prospects—people or businesses that have a need for your type of services. When you call a business and are unsure who the best person to speak to is, ask. Ask the operator or the president’s assistant. What the operator may not feel comfortable telling you, the president’s assistant almost always will. But do not use the assistant to get to the president; it is his job to insulate the president.

2. Do your research. Take time to get to know the businesses you’re calling. What do they sell? Whom do they sell to? How is the company structured? Regarding the person you’re trying to contact, do some biographical research. Check the company’s website or look for a profile on LinkedIn. You want that biographical information so you can make sure the person is the right person to contact and so you can incorporate their wording and language into your messaging. It’s important to speak the same language as your prospect, as it allows you to make a connection with them.

3. Get to the point quickly during your call. Identify yourself, explain what you’re able to provide to help them, and propose a date to meet. Do not go over 20 seconds or you will lose them.

4. Do not tell them all the benefits of the services. That isn’t the purpose of an introductory call, and it’s a waste of their time because they have no reason to believe any of it is true.

5. Put yourself in the prospect’s position. Think about what would be effective for someone trying to sell to you. What would turn you off? What would excite you? Stay away from big, salesy hyperboles and instead focus on the value proposition.

Mark Fortune, a cold calling specialist at Wellesley Hills Group, spoke with me about his approach to cold calling as part of the Cold Calling Strategies Kit. He has been on the phone talking with people for nearly 15 years and says you will succeed if you follow a well-planned strategy.

“Anybody who can think on their toes, speak clearly under pressure, shift gears, and ultimately put in the time to make multiple dials and get used to the environment of cold calling can be good at making outbound dials and reaching out to prospective executive-level buyers,” Fortune says. But you have to remember “to be honest when speaking with prospects. Always be sincere in what you have to offer and then, of course, be prepared for the call.”

Listen to an excerpt from Mark’s interview to hear more about how he sets up meetings using cold calling.

Access the complete Cold Calling Strategies Kit to listen to the full interview. Other items in the kit include:

• Cold Calling Works: You Just Do It Wrong (article)
• 3 Cornerstones to Delivering an Effective Telephone Pitch (article)
• Cold Calling Scripts that Work: 3 Proven Introductions that Break into and Close New Clients (article)
• Top Four Things NOT to Do When Cold Calling (article)
• How to Leave Voicemail Messages that Have Prospects Begging to Meet You (article)
• What to Say During a Cold Call (podcast)
• Voicemail Strategies that Get Prospects to Take Notice (podcast)
• How to Develop Your Calling Script (worksheet)
• Appointment Setting through Cold Calling (checklist)

If you’re starting out with cold calling or your results are less than stellar, it’s worth your while to check out the kit.

With so many tactics to choose from to generate leads, and so little time to decide (if you don’t want to lose prospects to faster-moving competitors), how can you create conversations with the most qualified buyers for your services?

You can speak at conferences or seminars. Take advantage of the many PR opportunities available. Or you can cold call, send direct mail pieces, set up affiliate or referral programs—the list goes on.

Not knowing which tactic to choose and what to expect from your lead generation efforts can be a service provider’s worst nightmare. You have to zero in on what’s going to make the biggest splash in your pool of prospects. But how do you know?

Over the course of 2010, Wellesley Hills Group has conducted research from over 800 professional services providers; they’ve told us what’s worked, what hasn’t, and how they plan to generate leads in the future.

Join us on June 15 as Mike Schultz will be sharing findings from Wellesley Hills Group’s yet to be released What’s Working in Lead Generation 2010 report.

You will learn the answers to those sticky questions such as:

• How can I fill the front end of the pipeline with qualified prospects that will buy?
• Which tactics look good, but don’t work well for lead generation?
• How does lead generation work with other marketing and business development activities?
• Which tactics will work for my firm, given the dynamics of what I sell?
• What are the keys to developing a culture that supports ongoing lead generation success?

When: June 15, 2010 at 8:00 a.m. to 9:30 a.m. (continental breakfast and networking begin at 7:30 a.m.)

Where: Newton Marriott – 2345 Commonwealth Avenue, Newton, MA 02466

All attendees will receive a complimentary executive summary to the What’s Working in Lead Generation 2010 benchmark report.

Register for Lead Generation Success for Professional Services>>>

This past year had RainToday readers looking for help not necessarily to grow their firms but to simply hold on while the bumpy economic ride continued. What were readers most interested in this past year? The topics are not surprising: sales (especially cold calling), pricing of services, Twitter, marketing techniques, how to develop value propositions, and how clients buy. Here’s a look at the articles, podcast, webinar, case study, and research report that made it to RainToday’s list of top content for 2009.

Michael W. McLaughlin, MindShare Consulting

I’m Not a Salesperson; I’m a Consultant

If you are a lawyer, accountant, engineer, or any other services professional, sales is not your cup of tea. But if your firm is to survive, you have to do some form of selling. You have to spread the word and get clients. What do you do if you’d rather go out and collect garbage than have to sell? Contributing Editor Michael W. McLaughlin has some advice in RainToday’s top article of the year, What to Do if You Aren’t a Natural-Born Seller. The first thing to keep in mind: use facts, stories, and rational arguments to get prospects to see your point of view, not cheesy sales tactics.

Colleen Francis, Engage Selling

Hot Cold-Calling Tips

Ideally you’d like to have a referral before reaching out to a prospect. But sometimes you have to make cold calls—a sales tactic that chills most services professionals to the bone. If your cold calling attempts have been less than successful, Colleen Francis offers some suggestions in RainToday’s top podcast of the year Cold Calling Dos and Don’ts. The trick, she says, is to think about it as new business development or opening a relationship. Colleen has some great tips for initiating the conversation and tells you what statements will kill a relationship.

Charles H. Green, Trusted Advisor Associates

I’m Sorry, but Your Price is Too High

One topic that can kill a relationship—even with a long-standing client—is pricing. This past year, pricing was on the minds of everyone, with people looking to cut costs and make ends meet. But your time and work are valuable, so what do you say when a client says your price is too high? In one of the top articles of the year, Contributing Editor Charles H. Green says that before you jump to conclusions and possibly respond badly, ask the client why they think that. By understanding their reasoning, not only can you influence the sale, but you also develop a deeper relationship with the client.

Paul Collins, Equiteq

What’s Your Value Proposition?

During tough times, “value” also becomes a significant topic of conversation. Value takes on a different meaning: Are you costing them more than you will save them? If so, you’re history. If not, how do you give them more value in a shorter timeframe to help them survive to fight another day? Paul Collins, founder and managing partner of Equiteq LLP, tackled that subject in RainToday’s top webinar of the year, Building a Value Proposition that Sells in a Recession. Watch Paul’s webinar to learn what it means to have a compelling value proposition during recessionary times and how to get one.

Michael A. Stelzner, Social Media Examiner

The Rise of Twitter

The search for new clients and development of client relationships had many services professionals turning to Twitter this past year. Use of the social media site has shot into the stratosphere unlike anything in recent memory–even CEOs are leaping onto the Twitter bandwagon, says Michael Stelzner in one of the top articles of the year, Why You Need Twitter to Grow Your Business. And unlike other “here today, gone tomorrow” services, Twitter seems to have staying power. That means professional services firms must consider it. If your clients and prospects use it, so must you.

Case Study: Direct Mail and Phone Calls Still Work

Whether or not your clients use Twitter, good old direct mail and phone calls could help you grow your business as they did for DM2 in RainToday’s case study of the year, How a 15-Person Firm Grew Its Roster of Fortune 500 Clients Using Direct Marketing and Phone Calls by Mary Flaherty. In an industry where high-profile Madison Avenue agencies had a long-established stronghold on marquee clients, this small, 15-person advertising agency, managed to cultivate a client list that included household-name blue chip Fortune 500 companies. And with a $600 direct marketing campaign, it secured $1.3 million in new business.

Get Into the Minds of Your Clients

Most important when deciding your marketing strategy and meeting with prospects and clients is understanding how your clients buy. The need to know what clients think helped make RainToday’s report, How Clients Buy: 2009 Benchmark Report on Professional Services Marketing and Selling from the Client Perspective the hottest item in the RainToday store this past year. The report gets into the minds of more than 200 buyers in eight service areas and helps demystify the professional services purchasing process. It’s essential reading if you want to improve your sales and marketing efforts.

Like many things in life, signing on a new client is a matter of timing. People and businesses aren’t always looking for or in the need of services. Something causes them to want new services. As Craig Elias explains in his RainToday.com article this week, Shorten Sales Cycles by Capitalizing on Trigger Events, these trigger events are your foot into a prospect’s door. Use the first 15-30 seconds of a cold call to determine if the prospect has experienced a trigger event, such as a bad experience with a service or a change in personnel, and if he’s considering switching services. If the answer to both is yes, then act now before the prospect signs with another firm.

Take advantage of trigger events, build up your skills, and create strong value propositions to help stand out from the crowd (Photo by talk2frank)

If a prospect is considering several firms, you need to make sure you stand out. You must differentiate yourself. How do you do that when nearly everyone has the same tools and tactics? In Winning Against an Equal Opponent, Contributing Editor Bruce W. Marcus says it will come down to who has the sharper skills and who best understands the market and the changing nature of professional services. So, make sure you’re on top of your game.

You can also differentiate yourself by offering a unique value proposition, says Paul Collins, founder and managing partner of Equiteq LLP. In this week’s podcast, Improve Your Value Proposition with Performance Benchmarking, Collins explains how professional services firms that have a strong unique value proposition grow faster, produce higher margins, and sell at higher prices. And a value proposition that includes performance benchmarking is an excellent way to help you stand out among the competition.

Sometimes you can stay within your inner circle to develop new business. You could team up with a colleague or reconnect with a former buyer, says Contributing Editor Vickie Sullivan in her article, Get More Business: How to Work Successfully with Advocates. Since they already know you and trust you, they’re a great source for new business. Follow Vickie’s 10 tips to pave the way for new business with old clients and colleagues.

Timing, uniqueness, opportunity, and trust—those four things will enable you to make more sales and grow your business.

http://www.flickr.com/photos/wdwbarber/ / CC BY-NC 2.0

Voicemail can be a business developer’s worst enemy. You find the right target in the right company, but after many attempts you can’t get through to the person. You leave every voicemail message you can imagine, and still the person doesn’t return the call.

You may think it’s time to give up. After all, if this prospect were interested, he’d have responded to one of the 25 voicemails you left, right?

Before you throw in the towel, try a strategy I picked up from a webinar with Colleen Francis, Cold Calling 101: How to Start Setting Appointments through Cold Calling. Colleen recommends that after leaving several voicemail messages, leave one that includes a specific date and time when you will call next.

I tried this recently with a prospect I’d been trying to reach for a couple of weeks. I’d sent two emails and left four voicemail messages. My last voicemail went like this:

“Hi, Sally. This is Erica Stritch calling from RainToday. I’ve left you several voicemails and will try calling you back tomorrow morning at 10 am. I hope we can connect then.”

I then followed the voicemail up with a short email reiterating the message and time of my next call.

The result: At 10 a.m. the next day I called Sally, and this time she answered. As a matter of fact, Sally was sitting at her desk waiting for the call. And to put a cherry on top, she apologized profusely for not getting back to me after the several emails and voicemails I had persistently left.

Now, will this prospect turn into a client overnight? Absolutely not. Did it allow me to have a conversation with her when previously I was just speaking to her voicemail? It sure did.

So, thank you Colleen Francis for sharing this strategy. Based on a test case of one, it works! I will add this one to my box of tricks, and I suggest you do the same.