Question

Topic: Customer Behavior

Cold Callers...i Have Returned. Improving Slowly?!

Posted by Anonymous on11/30/2007 at 12:39 AM ET 500 Points
My job is to reach out to Financial Advisers and intrigue them into leaving their company and come to the one I represent. These are individuals that make 100+ cold calls per day. When I call they are polite but not open to new opportunity (at least so it seems).

Here's there background on an average:

- 10 + years with the company they are at
- Have heard many times over the grass is greener on the other side.
- Majority are established and have 20 plus million in customer assets. (very cautious).

It seems that I need to make 200 calls to get one to two prospects partially interested. I have had success with just a few.

Help me please find the way to break through!!!

Right now I start off with this:

"Hi ____________ I represent a financial firm here in Chicago...C.P.S.. They specialize in maximizing established advisers existing income and improving future income.

你有几分钟吗to discuss whether we can assist you in a similar manner?"

Thank you for any assistance,

Scott

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RESPONSES

  • Posted byJay Hamilton-Rothon11/30/2007 at 8:41 AM Member
    Have the 2 that you've cold-called and connected with to help you network. Can they give you a warm referral to others that may want some help?
  • Posted byJay Hamilton-Rothon11/30/2007 at 2:26 PM Accepted
    To get someone to change is hard - most will only do it for an order of magnitude benefit. You're talking to relative "superstars". Why should they risk what they have for an unknown? Can you guarantee them (in writing) a minimum salary/benefit package that's better than what they have now?

    It's like a sports team. You need to draft a top player to have others believe that the team can win. Focus on courting one or two top people. This is not cold calling. This is relationship development. Give them a great contract, and in exchange, you want them to help you attract others like them. It's a much easier pitch coming from a peer.
  • Posted byNeilon11/30/2007 at 7:00 PM Accepted
    Scott, I think your next step is to become an expert in your field so that you sound more credible and confident.

    That means, solid discussions with the experts at your firm, do a lot of reading, etc.

    One of the things a salesperson needs is product/service knowledge. It is key.

    It sounds like your are making progress but you are hitting a wall because your knowledge is limited so you cannot *yet* continue the conversation beyond the preliminaries.

    But be proud that you have made progress and keep going!!
  • Posted byHans De Keulenaeron12/1/2007 at 1:37 AM Member
    To be honest, I can see no short way out. You're calling people who are naturally sceptical, who do not know you, who are in a business of trust, and you lack detail knowledge of their profession.

    If you can afford it, I would first try to establish a bit more reputation. Why not develop a newsletter or website/blog on your subject, demonstrating thought leadership?

    Alternatively, you can work social networks. A search 'finance chicago' on LinkedIn yields over 500 users.

    On opening statements and arguments, I cannot see how a few magical words could make a big difference.
  • Posted on7/7/2008 at 9:27 AM Member
    Cold calling is it effective?

    I've gone through the same promoting our BPO services, but all our efforts been futile, coming to your issue you're trying lure someone who are well settled in their jobs to join you through cold calling.... Scot wake up i don't think this would work. I'm not being negative and certainly do not want kill your spirits, but trust me i've seen it all. You promote these jobs to who are in need. If you do get good suggestion please do let me know.

    Thanks
    Madhu
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