Question

Topic: Customer Behavior

Cold Calling Script. Need Critiquing And Advice.

Posted by Anonymous on 10/24/2007 at 3:45 PM ET 500 Points
The following is a cold calling script to be used when calling financial advisors at work.

First this is my background:

My goal is to schedule an appointment with the advisor and the experts of the financial group I represent. The phone meeting is 20-30 minutes long.

This company is medium size compared to the large companies I call on.

The company I represent is different because they have changed the way financial advisor works through a day. The normal 5 hours of paperwork is freed up so they can focus on new business and existing clients. This is outsourced within the same building. There is no cost to this and the advisors commissions stay the same. I have brought in several advisors and they love this group.

My client also provides a positive environment where most places are not.

I only have their place of work and phone number. No more. I have been instructed that a low percentage will actually move forward on the appointment offer and to just keep calling.

Here is the script:

"Hi, my name is Scott Shellhaas ...the reason I’m calling is I represent a growing Financial Wholesaler in Chicago seeking more advisors and are submitting very compelling offers to get them."

"There are many exciting aspects to this group...one that really stands out is the companies back house structure. It takes over the majority of paperwork, trading and compliance issues without a reduction in commissions... if anything they increase. My role is to find advisors willing to take a few minutes to hear more and to get their opinions."

....I do realize this is long. Thanks...Scott
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RESPONSES

  • Posted by michael on 10/24/2007 at 4:05 PM Member
    Scott,

    In terms of reducing time..."I'm scott (skip the last name)from XXX. We're a XXX company that helps advisors reduce the amount of time they spend on paperwork"

    "What would be a good time to call back and give you some more details?"

    Be prepared for NEVER and just move on to the next one. You can also ask if you can e-mail them some information. Never agree to snail mail anything.

    Michael


  • Posted by Jay Hamilton-Roth on 10/24/2007 at 11:05 PM Member
    Ask who the decision maker is. Don't assume that the person you're talking to is "the one"

    Ask if they are looking for more business.

    These two questions will help the person on the other end frame the context of the conversation. If they are looking for more business, then tell them a little more (about a paragraph of your material). Then stop, and ask if they'd like to hear more, want to schedule a conference call, or if there's a better time to follow up with them.
  • Posted by Corpcommer on 10/24/2007 at 11:12 PM Member
    needed: comments on cold-calling script.


    Scott,

    I agree with our marketing colleagues that a shorter script is better.

    Use more "you" than "me."

    Where did you get the list -- were any of these people referred? If so, you should include "you were referred to me by NAME" in your intro statement.

    End the call with a "Thank you" whether or not the person lets you do your pitch.

    That said, here's my edited version to consider:

    "Hi, Don. I'm Scott from Great Offers and heard you'd be interested in improving the quality of your back-office operations without cutting commissions. Is that right?" (If he says no, politely end the call -- don't press. If yes, continue along the lines of next paragraph.)

    "If it's convenient, I'll take two minutes now to brief you on the system and get your input on how it could benefit your department." (After the summary, talk about scheduling the 20-minute session.)

    Good luck.

    Corpcommer / MC
  • Posted on 10/25/2007 at 2:12 AM Member
    This will sound like dorky advice, but whatever you decide to do, have a mirror in front of your computer when you call. It will remind you to smile.

  • Posted on 10/25/2007 at 10:02 AM Accepted
    Hi Scott,

    My company specializes in Customer Acquisition Programs for technology companies. As a result, we've written hundreds of scripts for clients and ourselves.

    The most effective scripts, we've found, follow a simple pattern.

    1. A brief statement of the value you're presenting.
    2. Explanation of the problems you solve
    3. Establishing they are the right person (probably doesn't apply here)
    4. The purpose of your call

    For instance:

    My name is Scott, and I represent a firm that provides FA's a more efficient work day.

    By eliminating nearly all paper work and back office functions, XYZ company allows FA's to prospect new business while maintaining their commission rates.

    I'd like to learn more about your daily workload to see if we could assist you in a similar manner.

    Could we schedule 20 minutes this week?


    Hope this helps.
  • Posted by iFocus on 10/25/2007 at 10:57 AM Member
    Scott,
    Before going any further....
    You said that YOU do realize that your script is a bit long. But what do your prospects say? What is the feedback you get from them so far? What is your current call/appointment ratio?
  • Posted on 10/25/2007 at 11:54 AM Member
    I would start out by asking them a question after your introduction.

    "Hi, my name is Scott from xxx. Do you spend more than x# of hours a day on paperwork?"

    And let the conversation go from there. If they say yes, then you can ask the next question:

    "Can I send you some information about how my company can save you more than 5 hours a day on paperwork? I'd like to follow up with a phone call after that if I may."

    How can they say no to that?
  • Posted on 10/25/2007 at 2:33 PM Accepted
    Scott,

    The natural response to this intro is for the prospect to ask more questions around the value and solutions you've presented. I would expect them, interested or not to ask at least a few questions. But what you've done from the start here, is set their expectations properly that the goal of your call today is a 20 minute call in the future.

    If they agree to the 20 minutes right away: "Great, I will schedule a time with X at Y company who can fully explain our approach, do you mind if I aske you a few questions now to make the best use of your time during that call?"

    If they are not interested, don't be afraid to ask them why: "how do you avoid the paperwork pitfall now?" information from people not interested will only strengthen your ability to overcome these objections in the future.

    A good way to approach the campaign is with the knowledge that FA's are happy working with the group you represent. What harm is it in speaking for someone for 20 minutes about making your life easier and more profitable? That approach will help your confidence and delivery of the message.


    Good luck!
  • Posted on 10/25/2007 at 8:30 PM Member
    Hi Scott,

    I like TDOLAN's response.

    But I would structure it in a different way.

    Instead of introducing yourself, hit with the punch line on what you can do for the potential client.

    " Would you like to step away from the paper work and back office function and spend more time on seeking more business?"

    If the answer is Yes (only an idiot would say NO, or a person who has found a similar service), then introduce yourself
    " I'm Scott and I represent a company which can do just that for you, at a competitive cost and very professional staff"

    "I'd like to learn more about your daily workload to see what best can be done .

    Could we schedule 20 minutes this week?"

    Although it might sound too cheesy, but it hits the spot, doesn't it?

    Cheers
    Amit

  • Posted by CarolBlaha on 10/26/2007 at 8:54 AM Accepted
    Tdolan's response is right on-- obviously very good at what he does. The explanation of problems you solve, is the "what's in it for me".

    I like a lot of Sandler's approach except the belief that its better to get a "no" than a maybe. It is a salesperson's role to find the pain. Sometimes the client doesn't know he has pain-- and its up to the salesperson to find it. It's correct to move on as Sandler suggests-- if you are NOT in a consultative selling situation. You are-- you are dealing with their career and its a very hard decision to make this kind of change. Everyone of my biggest (6 fig) commission cheques came from someone who told me "no" the first (probably) 6 times.

    A question to help the prospect to see their pain, would be something like "does administrative busy work take you away from client time and more income?"

    Remember, to a salesperson -- administrative work isn't just about commissions -- its a pain for them them personally. I've never met a salesperson (unless they're a slacker and want to pretend their busy) who likes it.

    There are times to step away from the script. Using an opening as Tdolan-- and then listing (role play with your peers and brainstorm) a variety of questions, objections by clients (and their answers) and then lead potential prospects into a conversation and your meeting. Get your peers involved-- the group intelligence of those doing it (just as you've found here) will bring the right words bubbling up -- as you speak to those in your business.

    Carol
    Sell Well and Prosper tm
  • Posted by CarolBlaha on 10/26/2007 at 9:25 AM Member
    Scott:

    My thoughts on your last post/script revision.

    What if the response to first question is "no"? Do you just pack up your tent and move on? Its a step backwards-- you were much more on target a couple posts ago.

    Words like the last post are nebulous-- keep it simple and on how their life will be more enjoyable and profitable.

    Sell Well and Prosper tm
  • Posted on 10/26/2007 at 3:30 PM Member
    I would advise against the GC idea.

    Your client is expecting to speak with qualified prospects who understand the value they're presenting and have demonstrated a genuine interest in learning more.

    GC's would not only complicate that scenario, but also; anyone who volunteers themselves for 20 minutes to receive a $5 GC isn't worried about making their day more effiecient to prospect for more business...
  • Posted on 10/26/2007 at 4:31 PM Accepted
    Both options are great, I would caution though, with option 2, the opportunity to accept a "No" answer too quickly exists.

    Whatever the reaction, have a good list of appropriate questions ready to further define their pain for your client:

    What hinders you the most in your prospecting for new clients?

    How do you avoid getting swamped in paper work?

    Does you existing firm provide tools to help manage your time?

    etc..
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