How to Cold Call More Effectively — In 5 Simple Steps
Cold calling is critical to running a successful firm.
In fact, Commercial Real Estate Online suggests starting each day by making “at least 40 outbound telephone calls to business owners and local property investors.”
But cold calling is about more than dialing as much as possible.
Below, we’ll cover five cold calling tips and best practices to help you win more deals.
1. Solidify your messaging
According to CCIM Institute, the key to cold calling is developing a message that resonates with your audience.
“Before you pick up the phone, develop a solid strategy based on two essential elements: determining who your prospect is and what you are going to say. You can have the best list in the market, but if you cannot clearly articulate the purpose of your call and the value to your audience, your great list is worthless.”
2. State your purpose
Gong — a company that provides sales conversation intelligence technology — found that “opening your call by stating the reason for calling increases your success rate by 2.1X.”
Not bad for such a minor update to your call script.
3. Ask the right questions
According to Brian Tracy, a sales trainer, personal success consultant, and best-selling author, “With each customer, there is a key benefit that will trigger buying desire and cause the customer to purchase your product or service.
“At the same time, there is a key fear or doubt that will hold the customer back from buying,” he continued. “Your initial job in your first cold call with your prospect, and the key to qualifying them, is to find out exactly what benefit will cause this customer to buy from you, and exactly what fear or doubt might hold this customer back from buying from you.”
4. Focus on the issues that really matter
CCIM Institute advises looking beyond “transaction indicators such as lease expirations” to uncover true motivators.
“Pay attention to bigger business issues. This is the No. 1 mistake brokers make — focusing too much on lease terms and too little on the business issues. Business issues drive real estate decisions. Real estate issues generally don’t drive business decisions. For example, if you learn that a company has just acquired a competitor, you can assume its space needs will probably change and it will need brokerage services, regardless of whether or not its leases are scheduled to roll over.”
5. Stay friendly and upbeat
It isn’t just what you say during cold calls that matters. It’s also how you say it.
Do you sound warm and friendly or terse and pushy?
As stated in Forbes, “Although this one seems simple and basic, it’s not always easy. If you want your prospect to listen to you, be upbeat and excited on the phone. Sales is simply a transfer of enthusiasm from one person to another, so make it your goal to inject your excitement to the person on the other end of the line … if you smile when you’re speaking to someone on the phone, it can immediately change your demeanor and allow you to get a better result. The consumer often mirrors your tone and positivity, which can allow you to get a better result.”