Is cold calling the primary technique your sales force uses? If so, ask yourself these questions. "How do I feel about strangers calling me to solicit my business? Would I stay on the line after the tele-intruder has butchered my name trying to pronounce it? Have I ever bought anything as a result of a cold call?"
Don't let your sales force annoy prospects with the same marketing techniques that aggravate you. Across all industries, cold calls have — at best — a one-percent closing rate. That means you have to call 100 people to achieve one sale. A pretty poor success rate.
Encourage your sales pros to take a break from the phone and go network! Effective networking is more customer-friendly and generates closing rates as high as 60 to 90 percent. What could be a better investment of your team's time and energy?
Pass on these seven tips for networking to success:
DESIGN A NETWORKING PLAN.
What do you hope to achieve from networking? How much time are you willing to devote to it? Which organizations will be most beneficial to your business? How much money do you have budgeted for membership fees? Be specific in your answers. A well thought-out plan will help you make the most money for your networking time.
EQUIP YOURSELF FOR SUCCESS.
When you attend a networking event, bring plenty of business cards. You want something to leave with prospects so they remember you and know how to get in touch with you.
Also take your appointment book and use it to schedule follow-up meetings on the spot. This shows prospects and potential "gate openers" that you're a person of action. Instead of saying, "Let's get together sometime,” say, "Would Tuesday for lunch work for you?"
Finally, wear your best threads. In the real world, people do judge a book by its cover.
TAKE ACTION.
Move out of your comfort zone. Don't allow fear to keep you from entering a potential goldmine for business. Jump in! The more networking events you attend, the more comfortable you'll feel and the more successful you'll be at building a network of qualified contacts.
BE A GIVER.
A biblical proverb says, "One man gives freely, yet gains even more; another withholds unduly, but comes to poverty.” If people perceive you as a taker — focused on what’s in it for you — most will avoid passing leads or doing business with you. Look for opportunities to give. Offer to help with registration, host the guest speaker, or greet visitors at the door. The more you give to an organization, the more you'll be compensated in terms of sales and qualified leads.
LISTEN, THEN SPEAK.
Spend more time listening than thinking about what you'll say. Ask questions. When appropriate, repeat back — in your own words — what the person has said to clarify that you fully understand. Prospects will be impressed by your genuine interest to know them better, and, as a result, will be more open when you talk about your business.
SCRIPT A ONE SENTENCE, CREATIVE INTRODUCTION TO YOUR BUSINESS.
For example, suppose you sell business gift baskets. Instead of telling people, "I sell gift baskets," say something like, "I help business owners and professionals generate more repeat business and build long-term relationships with clients by customizing gift baskets to convey any personal message, from a simple ‘Thank you' to ‘Congratulations on winning that account!’” See the difference? The first simply describes what you do. But the second statement goes a step further, by telling your prospects how they can benefit from what you do. When you make your message relevant to your audience, your chances of making a sale or getting a referral multiply.
FOLLOW THROUGH.
Before you go to a networking event, outline your follow-through strategy and set deadlines for each objective. Once you get home from a networking event, file the business cards you've obtained. Schedule a lunch meeting. Fax articles relevant to your prospect's interests. Send a letter that says "Thank you. I really enjoyed meeting you." Consistent follow-through is essential to creating a steady stream of referrals.
Why endure icy responses from cold-calling prospects when you can generate warm -- even hot! -- leads from networking? Design a networking strategy and go make money!