January 21, 2012

Relieve Yourself from Cold Calling! There's a Better Way...

By Patrick Mahan 

Do you hate making cold calls?

Everyone does. And now more than ever, people are going to great lengths to avoid these types of interruptions. Caller ID. Call Block. The National "Do Not Call" Registry...

So if everyone knows people hate getting cold called, then why does this practice still exist? 

Consider this Golden Rule: "Sell unto others as you would have others sell unto you."

Do YOU like getting cold called? Think about that the next time you pick up the phone to make one.

Cold calls are by far the LOWEST percentage sales technique (compared to the highest, which is a REFERRAL from a satisfied customer).

So why are you still making cold calls? Wouldn't it be more worthwhile to nuture and cultivate deeper relationships with your CURRENT customers... so that they are more likely to give you a referral?

One referral is worth probably 1000 cold calls. Focus on giving your current customers more than expected. Give them a personalized and customized experience that will blow their mind! 

Then, ASK them for a referral. Earn the right to tap into their extended networks. Pour your time and energy into THIS, instead of spinning your wheels on the low percentage cold call.

The energy you invest in wowing your current customers will pay off in two ways:
1. They will be more likely to give you their repeat business
2. They will be more likely to recommend you to their friends and family

Also remember that it costs about 5 times more to solicit a new customer than it does to keep a current customer. 

Often times, businesses lose current customers because they spend the majority of their time fishing for new customers at the expense of their current ones. Are you neglecting the "bird in the hand" while hunting the "two in the bush"?

Benjamin Franklin said, "A penny saved is a penny earned." You could also say that "A customer saved is a customer earned." Don't take your current customers for granted. You work for them... and they can fire you at any moment. 

The more you cultivate your current customers, the less cold calls you will have to make. 

One last thought about cold calls....

"Why are YOU calling them, instead of THEM calling you?"

The answer... because people do business with those they know, like and trust.  And you haven't met this criteria yet.  You have to put yourself out there.  Give them something of value first before you ask them for anything.  

Use all of the social media channels available to position yourself as a leading, trusted expert in your field.  Create How To videos on YouTube.  Start a blog with helpful tips.  Write articles for your industry trade magazine.  Send your prospects helpful, FREE tips and information via email. Introduce yourself on Facebook and Twitter and start a casual conversation there first BEFORE you try to sell them anything.  Once you've made a connection, and the prospects begins to know you, like you and trust you, then try to turn your new friend into a customer.

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