Is working: Discipline, proven technique, sticking to it.
I recently spoke with a young man at one of the Wirehouse firms. He’s been in business about 3 1/2 years. He’s 33 years old. By all rights he should not have survived. He is on track for $500,000 this year.
How did he do it? Calling business owners in the day, and a residential list, scrubbed against the “Do Not Call” list, in the evening.
He’s using a classic multi-call approach. He kept at it until he made it work. And then he kept doing it.
In my book, Hot Prospects, I identified “The Four Basic Mistakes.”
Basic Mistake #1: Get a bad idea and stick to it. In today’s tough market, it’s a conservative bet that your first idea, your third, or the 33rd idea won’t work. Keep changing your approach until it clicks.
Basic Mistake #2: Get a good idea and change it. When you get it right, quit messing with it. When you have it right, the definition of sanity is: Keep doing what you’re doing and you’ll get what you got.”
Not Working: Tired old scripts that try to appeal to everyone.
Consider this opening line: “This is Fred Smartly with SmithWellsMorganMerrillUBSBank (the last remaining major firm). I’m calling to introduce myself and let you know of some services we have available.” (Snore)
If you are doing this, STOP. This approach goes back to the ‘70s (or earlier!). And it probably didn’t work then. And it most certainly does not work now.
Is Working: A precisely targeted approach geared to the needs of a particular list.
Consider this fact: People tend to buy what they know.
Suppose you come up with a strategy to invest in technology stocks. Who should you call? Farmers? Janitorial services? What about people at a high income level in technology companies?
You might open with, “I’m looking for a most unusual investor. This investor understands technology and likes to invest in it. Am I talking to the right person or should we part company at this point?
Or, to a business owner:
“I have a white paper that covers pitfalls of transferring management of your firm to your heirs, or to a buyer who will succeed you. It also covers an investment strategy designed to protect you in case the transfer does not go as planned. Are you interested in reading it?”
Tailor your approach to your list. And by the way, great marketing starts with list development.