We are in the middle of the RRSP season and I already made a lot of calls to invite my clients to contribute or review their RRSP portfolio. I have the chance (and the misfortune at the same time) of having a book of client that was not developed in the past. Therefore, clients are not calling in the first place to take an appointment for their RRSP. I have to call a lot of them in order to build a stronger relationship.
Since it’s a hard part of the game and several people will have to make cold calls in their life (in the current economic context, several companies in different fields will ask their people to call their clients and find new clients), I though it would be interesting to share some good practices.
Make 10 of them and then, readjust
Your company will probably give you a calling script and tell you to practice in front of a mirror or in groups. I say pick up a list of 10 “low potential (or so you think!) clients”. Just think 2 minutes about why you are calling them and why they should be interested in listening to you (and ultimately, why they should want to book an appointment with you!). Call them and take notes. Take notes of what works and what doesn’t. If they all say no upfront and you don’t know what to answer, you have to work on that part (answering “no-answer”) really hard.
Make 500 calls
When I read the Rich Dad, Poor Dad series, I remember that in one of his book, the author mentioned that he was really bad when it comes down to sell stuff. He decided to work for a foundation and try to get donation through the phones. He made so many calls that he ended up being good at it. So doing cold calls is easy: call as many people as you can!
After each call, there is a sale that has been made
I got this line from the movie Boiler Room. Either you sell your client an appointment; either he sells you that he doesn’t need one. But a sale is made. So I guess that you are better off being the one making the sells 😉
Be polite and confident
Nobody likes arrogant people. They don’t want to see you because of you have the best product / service and the other competitors are offering crap. Be confident in what you offer but not cocky. Sometimes, you will have to push your client a little bit so he takes an appointment or listens to you. However, you must remain polite at all time. After all, you are representing your company for each word coming out of your mouth.
Watch Boiler room over and over again!
This is probably the best movie to get some grip while doing cold calls. The movie is about a brokerage firm doing shady business. I’m not telling you to go this route 😉 However, there are several great tips in the movie about cold calls and get your client interested in what you have to tell them. The key point will always remain the same: catching the interest of your client.
But don’t worry if you can’t close, a sale will still be made 😉
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