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         AND THE SCIENCE
         OF CONTACT RATIOS
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    KEN KROGUE   KRAIG KLEEMAN
                                                     5
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                       The Art of Cold Calling and the science
                       of cantact ratios
                       By Ken Krogue and Kraig Kleeman
INTRODUCTION

                                                                        “The Art of Cold Calling and The Science of Contact
                                                                        Ratios” is designed to increase the skill and ability of

                THE ART OF                                              sales reps to tackle cold calling with confidence and




                           OLD
                                                                        increase success.

                                                                        Learn how to approach cold calling in a way that will
                                                                        dramatically increase your contact ratios. Featuring
                                                                        Ken Krogue’s “Seven Rules of Cold Calling,” and four
                                                                        cold calling examples from Kraig Kleeman, sales reps



                           ALLING
                                                                        will walk away with the ability to increase their contact
                                                                        and qualification rates through best practices and tips.

                                                                        These tips and best practices were originally presented
                AND THE SCIENCE                                         by Ken Krogue and Kraig Kleeman as a webinar. Access
                OF CONTACT RATIOS                                       the webinar at www.InsideSales.com/webinar




                  Trademarked title used with permission of
          Ronald Scott LaVine dba Accelerated Cold Call Training, Inc


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2
FROM KEN KROGUE
I first heard about Kraig Kleeman when somebody told     Forbes, Fast Company, and many more.
me about his book “The Must-React System: User’s
Guide to Prospecting C-Suite Executives.”                So I called him. We talked and talked like old friends.

I bought it from Amazon, read it and immediately         Since then I have had dinner with him twice, including a
knew his concepts of “Executive Briefing,” leading       BBQ on the veranda at his home in downtown Chicago
with research, and staying in the “no product zone”      overlooking Lake Michigan. I brought along my son,
were something new… a breakthrough… a disruption         Josh Krogue, CEO of InsideSalesOutfitters.com. Kraig
to prevailing prospecting wisdom. Top-of-funnel          also has a son, about the same age, who is also a leader
approaches that use marketing wisdom in the world of     in the inside sales industry, just like his dad. Kraig is
sales; very similar but more refined than the “Stadium   what he says he is, and does what he says he does.
Pitch” introduced by the late Chet Holmes in his
bestselling book “The Ultimate Sales Machine.” That      I checked references on a half dozen accounts; some
book had already made a huge impact on sales a lot       he didn’t know I knew about. They all said the same
like “The Challenger Sale“ is making today.              thing… incredible results.

We have experienced huge success at InsideSales.com      We spoke together at a national leadership summit of
by leading with research rather than a product pitch.    the American Association of Inside Sales Professionals.
Our research on immediate response to web leads          When I heard the buzz, controversy, and sarcasm in
done in conjunction from Dr. James Oldroyd from          the audience among the prevailing thought leaders
MIT and later with Harvard Business Review has now       in the hallways after he spoke, I knew he was on to
been accessed by sales and marketing professionals       something.
from over 160,000 companies and republished in Inc.,
                                                         He is...
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3
TABLE OF CONTENTS

2	 INTRODUCTION                         THE SEVEN RULES OF COLD CALLING
5	 ABOUT THE AUTHORS
                                         12	 RULE #1 – IMMEDIACY
CREATING OPTIMAL COLD CALLING SCRIPTS   13	 RULE #2 – PERSISTENCY
                                         13	 RULE #3 – OPTIMIZE
6	 SALES PEOPLE OUGHT TO PERSUADE
                                         14	 RULE #4 – TIME OF DAY
7	 PROPOSITION COLD CALLING
                                         14	 RULE #5 – DAY OF WEEK
8	 LEAD-WITH-RESEARCH COLD CALL
                                         15	 RULE #6 – GET DIRECT DIAL NUMBERS
9	 UNPRODUCTIVE WARM CALL FOLLOW-UP
                                         15	 RULE #7 – LOCAL PRESENCE
10	 WARM CALLING DONE RIGHT
                                         16	 SUMMARY
                                         17	 CREDITS




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4
ABOUT THE AUTHORS




                          Kraig Kleeman                                  Ken Krogue
                 Chairman of The Blaire Group              President  co-Founder of InsideSales.com

The author of the award winning book, “The Must       Ken is a results driven sales leader and visionary
React System: A Users Guide to Cold-Calling,” Kraig   for the inside sales industry. The research and data
knows the best practices to optimize cold calling     driven approach he uses has led to best practices of
efforts to create a high return. He is a frequent     contacting and closing leads. He pioneered the
speaker at sales conferences, executive retreats      powerful sales automation PowerDialer which greatly
and motivational events. Under Kraig’s direction,     increases the effectiveness and efficiency of inside
Blaire Group analysts have directly observed,         sales professionals. Ken is also a regular contributor
measured and documented more than 25,000 cold-        to Forbes.com, and his blog, www.kenkrogue.com, is
call presentations.                                   number one in the world on the topic of inside sales.


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5
SALES PEOPLE OUGHT TO PERSUADE
                           Most sellers embrace a language and a process
                           that is decades old and void of best practices. In
                           particular, this language is void in persuasion.


       CREATING            To counteract this, sales people ought to be
                           equipped with scripts that persuade. Not unlike

    OPTIMAL COLD CALLING   actors in a play, salespeople ought to run lines,
                           rehearse, practice and they ought to be held


       SCRIPTS             accountable to include systems and methodologies
                           that will persuade.

                           Many companies masterfully deploy exceptional
                           product development processes. Sadly, companies
                           rarely deploy an equally sophisticated selling
                           apparatus.

                           Remember
                           If cold calling is about anything at all it’s about the
                           art and science of persuasion.




                                                 Share this eBook:

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6
PROPOSITION COLD CALLING
The following example to the right is a script for cold
calling that a team that The Blaire Group worked          VALUE PROPOSITION SCRIPT
with used.
                                                          	 Admin:	 Hello, this is Mr. Williams’ office.
Who They Targeted                                         	 Seller:	 Hi, this is Joe Smith from Global
Chief marketing officers and senior marketing                        Enterprise Systems (GES). Is Mr.
executives of large insurance companies                              Williams available?
                                                          	 Admin:	 No, he isn’t.
Their Product                                             	 Seller:	 I’d like to schedule a 30 minute
Enterprise class software solution that was in the area              meeting with him. Can you help me
of an agent portal software solution                                 with this?
                                                          	 Admin:	 Maybe. This is Jane, his assistant.
Results                                                              What is this regarding?
For 12 months, they scheduled 250 net-new briefings
generating $3.5M in forecasted revenue                    (This is where it all breaks down, when he
                                                          introduces the value-proposition language.)
Why it Failed
It was ineffective because it incorporated value          	 Seller:	 I’d like to introduce him to GES,
proposition language                                                 specifically our agent portal software
                                                                     solution. I’d like to share with him
                                                                     how we saved Zurich International
                                                                     Insurance Company $1 Million
                                                                     last year.


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7
LEAD-WITH-RESEARCH COLD CALL
Executive buyers respond to research that is relevant
to their professional mandates. By incorporating this       LEAD WITH RESEARCH SCRIPT
mindset and applying it to a sales script positioned
at the target audience, sales teams will get very            Prospect: Hello, this is Bob Williams. May I
different results.                                                       help you?
	                                                            	 Seller:	 Oh, hi Bob. This is Kevin Johnson
How To                                                                   with Corporate Systems. Good
It’s critical that the research aligns perfectly with the                morning. I noticed that you
outcome of the product or service that you want to                       downloaded our white paper
get them interested in.                                                  entitled “Optimizing Social Media
                                                                         to Drive Brand Awareness.”
Results                                                                  Do you recall requesting that
The team, in a 12 month period, scheduled and                            white paper?
completed 1,680 net-new briefings which generated             P
                                                              	 rospect:	Yes. It was very helpful. Thank you
$30 million forecasted revenue.                                          so much.
Click here to see the detailed results
                                                             	   Seller:	 Great! What was your purpose for
                                                                          downloading the white paper?
                                                             	 rospect:	 We are interested in doing social
                                                             P
                                                                          media monitoring in a more formal
                                                                          way. We wanted to hear what you
                                                                          folks have to say about it?



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8
UNPRODUCTIVE WARM CALL FOLLOW-UP                           	   Seller:	 Well, I noticed that you downloaded
                                                                         our whitepaper “Optimizing Social
A common mistake we see senior VPs of global
                                                                         Media Monitoring to Improve
sales making is hiring someone for an inside sales
                                                                         Brand Awareness.” Did you find
management role whose primary experience has
                                                                         that whitepaper informative and
been with inbound warm leads, but assigning them to
                                                                         insightful?
work on outbound cold calling.

                                                          (Phrases like this are irrelevant and violate the
The following is an example of a warm call presentation
                                                          rules of persuasion).
gone wrong, but is fairly common within the industry.

                                                            	 rospect:	 Yes, it was very helpful. Thank you
                                                            P
                                                                        so much.
                                                            	 Seller:	 Great! Is there anything else that
    INEFFECTIVE WARM CALLING                                           I can help you with? Do you need
                                                                        anything else from us?
      	 rospect:	 Hello, this is Bob Williams. May I
      P                                                     	 rospect:	 Nope. I’m good for now. Thanks,
                                                            P
                  help you?                                             so much.
      	 Seller:	 Oh, hi Bob. This is Kevin Johnson          	 Seller:	 Well, great Bob. Listen, would you
                  with Corporate Systems. Is this a                     mind if I check in with you from time
                  good time for you? Do you have                        to time to see what’s happening,
                  a minute?                                             or if you need anything else
      	 rospect:	 Well, I guess I have a minute.
      P                                                                 from us?
                  What’s up, Kevin?                         	 rospect:	 No, go right ahead. Check in with
                                                            P
                                                                        me sometime.


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9
First
The first thing that went wrong here was the
                                                                  WARM CALLING DONE RIGHT
ineffective, “Do you have a minute?” No one has time
                                                                  A successful warm call presentation should be
for the interruption of an unsolicited sales cold call.
                                                                  productive and should not squander a lead. By leading
While it’s important to be polite and show respect,
                                                                  the target to talk about their purpose, a sales rep can
unfortunately this over emphasis on politeness is at
                                                                  adopt these principles.
the expense of persuasion, leaving the call ineffective.

Second
When the lead said, “No, go
                                 EXECUTIVE BUYERS
right ahead. Check in with
                                 EMOTIONAL REACTION TO              EFFECTIVE WARM CALLING
                                 UNSOLICITED SALES CALLS
me sometime,” this was
code language for never          FRUSTRATION                        	   Admin:	    Hello, this is Mr. Williams office.
call me again.
                                  HOSTILITY
                                        Blaire Group’s research
                                                                    	
                                                                    	
                                                                    	
                                                                        Seller:	
                                                                        Admin:	
                                                                        Seller:	
                                                                                   Hi, is Mr. Williams in?
                                                                                   No, he isn’t.
                                                                                   Do you keep his calendar?
Result
This is a squandered lead because the seller did not                	   Admin:	    Yes, I do.
have the discipline of persuasion.                                  	   Seller:	   Oh good. This is Joe Smith with Global
                                                                                   Enterprise Systems and I’m calling
                                                                                   to schedule his 15 minute analyst
                                                                                   discussion. I plan to accomplish this
                                                                                   no later than Friday of next week.
                                                                                   I have availability on Tuesday in
                                                                                   the morning, or Wednesday in the
                                                                                   afternoon. Which works best for him?



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10
Get
     (Notice the use of deadlines  the alternative
     close.)                                             more MEETINGS
     	 Admin:	 What is this regarding?
     	 Seller:	 Optimizing Agent Retention      and
                                                               CLOSED                            DEALS
                Improving Agent Productivity…

                                                         3 Courses of Training
By asking your prospect about their purpose the target      Prospecting with
                                                                  Excellence
begins to open up. Additionally, qualifying with open
ended questioning allows sales reps to use a “Three           Presenting with
                                                                   Excellence
Deep and Down” campaign.
                                                               E-mailing with
                                                                  Excellence
How To
To execute a “Three Deep and Down” campaign, start
by discovering the target’s values. Next, qualify and
seek to understand. Last, sales reps then have the
opportunity to land and expand.

By adopting this strategy, companies experience off           Transform your sales organization
the chart conversion rates.                                           Click for Details




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11
In 2007, the Lead Response Management research
                          study changed the industry and showed how fast a
                          lead cools off or how fast you need to respond.
                          Download the LRM Study

                          In 2011, another study done in conjunction with
                          Dr. Oldroyd that was ten times larger found similar
                          results and was published in HBR and INC.


                          RULE #1 – IMMEDIACY
     THE SEVEN RULES OF
      COLD CALLING
                          Best Practice
                          Contact leads within 5 minutes.

                          The odds of a sales rep actually contacting and
                          qualifying a web lead drops a hundred times from
                          waiting thirty minutes.
                           CONTACTS MADE FROM FIRST DIALS

                                                                                                             WITHIN 5 MINUTES

                          CONTACTED / QUALIFIED LEADS
                                                                                                             100 X Higher chance of contacting
                                                                                                             21 X Higher chance of qualifying

                                                                                                             AFTER 5 MINUTES
                                                                                                             Contact rates drop significantly
                                                                                                             Leads That Become:
                                                                                                                Qualified   Contacted

                                                        5 MIN   10 MIN   15 MIN   20 MIN   25 MIN   30 MIN
                                                                   RESPONSE TIME

                                                                                            Share this eBook:

                                                                                                                 InsideSales.com | Blaire Group
12
RULE #2 – PERSISTENCY                                               Tip
                                                                     Make sure that your sales reps are wringing the most
                                                                     value out of their leads as they possibly can and are
Best Practice
                                                                     not leaving money on the table.
Sales rep should make 6-9 calls before giving up.

Reality                                                              RULE #3 – OPTIMIZE
Most sales reps are making one or two calls per lead
before giving up.                                                    A few years ago, InsideSales.com was doing a research
                                                                     study with FranklinCovey. Their reps were calling
Think about that                                                     people back immediately when they were abandoning
If the contact ratio is between 10 and 11 percent and                the sales process half way through, only to experience
the sales rep is only make one or two calls, they’re                 the leads getting upset with them for calling.
only going to reach 10 or 20 percent of the people they
want to talk to.                                                     Their reps called a few of these individuals back on a
                                                                     later date and surveyed them. This is what they said, “I
          % OF SALES BY CALL ATTEMPT
                                                                     was halfway through buying a day planner and I forgot
100%
                                                                     my credit card. I didn’t have it with me. I didn’t want
                                                   91%   92%   93%
 80%                                         90%                     you calling me – I just went and got my card.”
                                 82%   85%
                           73%
 60%
                    61%                                              Tip
 40%                                                                 Put a field on your webform that says, “When is the
             37%
 20%                                                                 optimal time to call you?” If the lead wants you to
                                                                     call, they will tell you when the best time to contact
 0%
             1ST    2ND    3RD   4TH   5TH   6TH   7TH   8TH   9TH   them is.
                           NUMBER OF CALLS
             Based on internal InsideSales.com research

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13
RULE #4 – TIME OF DAY                                                        RULE #5 – DAY OF WEEK
Assuming you’re calling into your same time zone                              In addition to the     INITAL DIAL TO LEADS THAT BECOME CONTACTED
(if not, then adjust accordingly) the best times to dial                      best time of day       2.5
are between 8:00 and 9:00 a.m. or 4:00 to 5:00 p.m.                           to call, the study
                                                                              also revealed the      2.0
If you call during these times, you’re going to have                          best days of the
much higher contact ratios than if you’re calling around                      week. Tuesday is       1.5

lunch time.                                                                   the worst day to be
                                                                                                     1.0
                                                                              calling. Thursday is          M      T      W      TH      F
 CONTACTS MADE FROM FIRST DIALS                                               the best.
 3,500

3,000                                                                         Why
 2,500                                                                        Most people go into work on Monday and then
2,000
                                                                              get slammed from everything that came in over
                                                                              the weekend, only to spend all of Tuesday digging
 1,500
                                                                              themselves out. By Wednesday, they’re ready to talk
 1,000
                                                                              to people again.
     500

      0                                                                       Tip
            7-8   8-9   9-10 10-11 11-12 12-1   1-2   2-3   3-4   4-5   5-6
           BEST TIMES TO CONTACT 8-9 AND 4-5
                                                                              Do some testing and figure out the best days of the
                                                                              week for your target industry.
What This Means for Business
If your morning sales team meeting is at 8:00 a.m.,
you’re wasting the best calling time of the day!


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14
RULE #6 – GET DIRECT DIAL NUMBERS                                         RULE #7 – LOCAL PRESENCE
                                                    Do your best to find   If I call you from San Jose, California, area code 408,
           AVERAGE MEETINGS PER   % DIRECT LINES
     REP                                            the desk phone or      and you live in New York, area code 212, you probably
              MONTH (LAST 3)      ON CONTACT LIST
                                                    cell phone number      aren’t going to answer my call.
     1             11                51%            of the prospects
     2             13                45%            you are trying to      However, if I call you from a number with area code
     3            20                 76%            reach.                 212, you’re probably going to answer the phone.
     4            22                 74%
                                          Take a look at rep               The odds of your prospect answering is 57.8
   5          29           87%
                                          number six with                  percent higher if the call is from their own, local
   6          33          97.6%           an average of 33                 area code verses a blocked, toll free or even a long
                          Source Vorsight
                                          appointments per                 distance number.
month. Vorsight went into the sales reps’ database



                                                                                   57.8%
and found 97.6 percent of the sales reps’ personal data                     BEST
                                                                                                          How This Impacts Cold
base included direct dials. The results of rep number                                                     Calling Efforts
six’s efforts were triple that of rep number one’s.                                                       If you have ten sales

The good news is that this is mostly a technique,
                                                                                   MORE LIKELY TO
                                                                                   ANSWER PHONE
                                                                                                          reps and you boost their
                                                                                                          productivity by 57.8
not even a technology. Teach your sales reps the                                   FROM A LOCAL NUMBER    percent with InsideSales.
importance and impact direct numbers can have.                                     TOLL                   com’s     LocalPresence,
                                                                                   TOLL FREE              it’s the equivalent to
                                                                                   BLOCKED                hiring six additional full-
                                                                           WORST
                                                                                                          time sales people.



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15
SUMMARY
                                                                         From this eBook, you’ve learned that simple changes
                                                                         to your sales approach can have a dramatic impact on
                                                                         your cold calling and contact success.

                                                                         What’s next?
                                                                         By implementing the best practices found in this eBook,
                                                                         any sales rep can experience enhanced confidence to
                                                                         tackle cold calling and increase success.

                                                                         This eBook was based on a webinar originally presented
                                                                         by Ken Krogue and Kraig Kleeman. View the webinar,
                   POWERDIALER                                           at www.InsideSales.com/webinar.

           DO 8 HOURS OF WORK IN 2 HOURS
        • Increased contact rates        • Total visibility into sales
        • Best practice analytics         activities                                                SEE A DEMO  GET A FREE
        • Optimized sales workflow       • Happy sales reps
                                                                                                    EXECUTIVE
                                                                                                    SHOULDER BAG
                             Start Free Trial
                                                                                                       Schedule My Demo
                                                                            Call: 877-798-9633
                     Call: 887-798-9633


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16
CREDITS

CONTENT
Ken Krogue |
http://kenkrogue.com
Kraig Kleeman |
http://www.blairegroup.com


WRITER
Alex Orton |
Jessica Winn |


COPY EDITOR                      OPTIMIZE LINKEDIN
Jessica Dyer |                   GET THE FREE EBOOK
                                  Download eBook
DESIGNERS
Scott Humphries |
Stephen Gashler |



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The Art of Cold Calling & the Science of Contact Ratios

  • 1. 3 1 6 9 6 7 THE ART OF 0 4 OLD9 5 8 8 4 2 2 3 6 8 7 68 ALLING 3 2 AND THE SCIENCE OF CONTACT RATIOS 7 0 47 1 1 2 5 32 9 5 0 8 3 KEN KROGUE KRAIG KLEEMAN 5 9 0 The Art of Cold Calling and the science of cantact ratios By Ken Krogue and Kraig Kleeman
  • 2. INTRODUCTION “The Art of Cold Calling and The Science of Contact Ratios” is designed to increase the skill and ability of THE ART OF sales reps to tackle cold calling with confidence and OLD increase success. Learn how to approach cold calling in a way that will dramatically increase your contact ratios. Featuring Ken Krogue’s “Seven Rules of Cold Calling,” and four cold calling examples from Kraig Kleeman, sales reps ALLING will walk away with the ability to increase their contact and qualification rates through best practices and tips. These tips and best practices were originally presented AND THE SCIENCE by Ken Krogue and Kraig Kleeman as a webinar. Access OF CONTACT RATIOS the webinar at www.InsideSales.com/webinar Trademarked title used with permission of Ronald Scott LaVine dba Accelerated Cold Call Training, Inc InsideSales.com | Blaire Group Share this eBook: 2
  • 3. FROM KEN KROGUE I first heard about Kraig Kleeman when somebody told Forbes, Fast Company, and many more. me about his book “The Must-React System: User’s Guide to Prospecting C-Suite Executives.” So I called him. We talked and talked like old friends. I bought it from Amazon, read it and immediately Since then I have had dinner with him twice, including a knew his concepts of “Executive Briefing,” leading BBQ on the veranda at his home in downtown Chicago with research, and staying in the “no product zone” overlooking Lake Michigan. I brought along my son, were something new… a breakthrough… a disruption Josh Krogue, CEO of InsideSalesOutfitters.com. Kraig to prevailing prospecting wisdom. Top-of-funnel also has a son, about the same age, who is also a leader approaches that use marketing wisdom in the world of in the inside sales industry, just like his dad. Kraig is sales; very similar but more refined than the “Stadium what he says he is, and does what he says he does. Pitch” introduced by the late Chet Holmes in his bestselling book “The Ultimate Sales Machine.” That I checked references on a half dozen accounts; some book had already made a huge impact on sales a lot he didn’t know I knew about. They all said the same like “The Challenger Sale“ is making today. thing… incredible results. We have experienced huge success at InsideSales.com We spoke together at a national leadership summit of by leading with research rather than a product pitch. the American Association of Inside Sales Professionals. Our research on immediate response to web leads When I heard the buzz, controversy, and sarcasm in done in conjunction from Dr. James Oldroyd from the audience among the prevailing thought leaders MIT and later with Harvard Business Review has now in the hallways after he spoke, I knew he was on to been accessed by sales and marketing professionals something. from over 160,000 companies and republished in Inc., He is... InsideSales.com | Blaire Group Share this eBook: 3
  • 4. TABLE OF CONTENTS 2 INTRODUCTION THE SEVEN RULES OF COLD CALLING 5 ABOUT THE AUTHORS 12 RULE #1 – IMMEDIACY CREATING OPTIMAL COLD CALLING SCRIPTS 13 RULE #2 – PERSISTENCY 13 RULE #3 – OPTIMIZE 6 SALES PEOPLE OUGHT TO PERSUADE 14 RULE #4 – TIME OF DAY 7 PROPOSITION COLD CALLING 14 RULE #5 – DAY OF WEEK 8 LEAD-WITH-RESEARCH COLD CALL 15 RULE #6 – GET DIRECT DIAL NUMBERS 9 UNPRODUCTIVE WARM CALL FOLLOW-UP 15 RULE #7 – LOCAL PRESENCE 10 WARM CALLING DONE RIGHT 16 SUMMARY 17 CREDITS InsideSales.com | Blaire Group Share this eBook: 4
  • 5. ABOUT THE AUTHORS Kraig Kleeman Ken Krogue Chairman of The Blaire Group President co-Founder of InsideSales.com The author of the award winning book, “The Must Ken is a results driven sales leader and visionary React System: A Users Guide to Cold-Calling,” Kraig for the inside sales industry. The research and data knows the best practices to optimize cold calling driven approach he uses has led to best practices of efforts to create a high return. He is a frequent contacting and closing leads. He pioneered the speaker at sales conferences, executive retreats powerful sales automation PowerDialer which greatly and motivational events. Under Kraig’s direction, increases the effectiveness and efficiency of inside Blaire Group analysts have directly observed, sales professionals. Ken is also a regular contributor measured and documented more than 25,000 cold- to Forbes.com, and his blog, www.kenkrogue.com, is call presentations. number one in the world on the topic of inside sales. InsideSales.com | Blaire Group Share this eBook: 5
  • 6. SALES PEOPLE OUGHT TO PERSUADE Most sellers embrace a language and a process that is decades old and void of best practices. In particular, this language is void in persuasion. CREATING To counteract this, sales people ought to be equipped with scripts that persuade. Not unlike OPTIMAL COLD CALLING actors in a play, salespeople ought to run lines, rehearse, practice and they ought to be held SCRIPTS accountable to include systems and methodologies that will persuade. Many companies masterfully deploy exceptional product development processes. Sadly, companies rarely deploy an equally sophisticated selling apparatus. Remember If cold calling is about anything at all it’s about the art and science of persuasion. Share this eBook: InsideSales.com | Blaire Group 6
  • 7. PROPOSITION COLD CALLING The following example to the right is a script for cold calling that a team that The Blaire Group worked VALUE PROPOSITION SCRIPT with used. Admin: Hello, this is Mr. Williams’ office. Who They Targeted Seller: Hi, this is Joe Smith from Global Chief marketing officers and senior marketing Enterprise Systems (GES). Is Mr. executives of large insurance companies Williams available? Admin: No, he isn’t. Their Product Seller: I’d like to schedule a 30 minute Enterprise class software solution that was in the area meeting with him. Can you help me of an agent portal software solution with this? Admin: Maybe. This is Jane, his assistant. Results What is this regarding? For 12 months, they scheduled 250 net-new briefings generating $3.5M in forecasted revenue (This is where it all breaks down, when he introduces the value-proposition language.) Why it Failed It was ineffective because it incorporated value Seller: I’d like to introduce him to GES, proposition language specifically our agent portal software solution. I’d like to share with him how we saved Zurich International Insurance Company $1 Million last year. InsideSales.com | Blaire Group Share this eBook: 7
  • 8. LEAD-WITH-RESEARCH COLD CALL Executive buyers respond to research that is relevant to their professional mandates. By incorporating this LEAD WITH RESEARCH SCRIPT mindset and applying it to a sales script positioned at the target audience, sales teams will get very Prospect: Hello, this is Bob Williams. May I different results. help you? Seller: Oh, hi Bob. This is Kevin Johnson How To with Corporate Systems. Good It’s critical that the research aligns perfectly with the morning. I noticed that you outcome of the product or service that you want to downloaded our white paper get them interested in. entitled “Optimizing Social Media to Drive Brand Awareness.” Results Do you recall requesting that The team, in a 12 month period, scheduled and white paper? completed 1,680 net-new briefings which generated P rospect: Yes. It was very helpful. Thank you $30 million forecasted revenue. so much. Click here to see the detailed results Seller: Great! What was your purpose for downloading the white paper? rospect: We are interested in doing social P media monitoring in a more formal way. We wanted to hear what you folks have to say about it? InsideSales.com | Blaire Group Share this eBook: 8
  • 9. UNPRODUCTIVE WARM CALL FOLLOW-UP Seller: Well, I noticed that you downloaded our whitepaper “Optimizing Social A common mistake we see senior VPs of global Media Monitoring to Improve sales making is hiring someone for an inside sales Brand Awareness.” Did you find management role whose primary experience has that whitepaper informative and been with inbound warm leads, but assigning them to insightful? work on outbound cold calling. (Phrases like this are irrelevant and violate the The following is an example of a warm call presentation rules of persuasion). gone wrong, but is fairly common within the industry. rospect: Yes, it was very helpful. Thank you P so much. Seller: Great! Is there anything else that INEFFECTIVE WARM CALLING I can help you with? Do you need anything else from us? rospect: Hello, this is Bob Williams. May I P rospect: Nope. I’m good for now. Thanks, P help you? so much. Seller: Oh, hi Bob. This is Kevin Johnson Seller: Well, great Bob. Listen, would you with Corporate Systems. Is this a mind if I check in with you from time good time for you? Do you have to time to see what’s happening, a minute? or if you need anything else rospect: Well, I guess I have a minute. P from us? What’s up, Kevin? rospect: No, go right ahead. Check in with P me sometime. InsideSales.com | Blaire Group Share this eBook: 9
  • 10. First The first thing that went wrong here was the WARM CALLING DONE RIGHT ineffective, “Do you have a minute?” No one has time A successful warm call presentation should be for the interruption of an unsolicited sales cold call. productive and should not squander a lead. By leading While it’s important to be polite and show respect, the target to talk about their purpose, a sales rep can unfortunately this over emphasis on politeness is at adopt these principles. the expense of persuasion, leaving the call ineffective. Second When the lead said, “No, go EXECUTIVE BUYERS right ahead. Check in with EMOTIONAL REACTION TO EFFECTIVE WARM CALLING UNSOLICITED SALES CALLS me sometime,” this was code language for never FRUSTRATION Admin: Hello, this is Mr. Williams office. call me again. HOSTILITY Blaire Group’s research Seller: Admin: Seller: Hi, is Mr. Williams in? No, he isn’t. Do you keep his calendar? Result This is a squandered lead because the seller did not Admin: Yes, I do. have the discipline of persuasion. Seller: Oh good. This is Joe Smith with Global Enterprise Systems and I’m calling to schedule his 15 minute analyst discussion. I plan to accomplish this no later than Friday of next week. I have availability on Tuesday in the morning, or Wednesday in the afternoon. Which works best for him? InsideSales.com | Blaire Group Share this eBook: 10
  • 11. Get (Notice the use of deadlines the alternative close.) more MEETINGS Admin: What is this regarding? Seller: Optimizing Agent Retention and CLOSED   DEALS Improving Agent Productivity… 3 Courses of Training By asking your prospect about their purpose the target Prospecting with Excellence begins to open up. Additionally, qualifying with open ended questioning allows sales reps to use a “Three Presenting with Excellence Deep and Down” campaign. E-mailing with Excellence How To To execute a “Three Deep and Down” campaign, start by discovering the target’s values. Next, qualify and seek to understand. Last, sales reps then have the opportunity to land and expand. By adopting this strategy, companies experience off Transform your sales organization the chart conversion rates. Click for Details InsideSales.com | Blaire Group Share this eBook: 11
  • 12. In 2007, the Lead Response Management research study changed the industry and showed how fast a lead cools off or how fast you need to respond. Download the LRM Study In 2011, another study done in conjunction with Dr. Oldroyd that was ten times larger found similar results and was published in HBR and INC. RULE #1 – IMMEDIACY THE SEVEN RULES OF COLD CALLING Best Practice Contact leads within 5 minutes. The odds of a sales rep actually contacting and qualifying a web lead drops a hundred times from waiting thirty minutes. CONTACTS MADE FROM FIRST DIALS WITHIN 5 MINUTES CONTACTED / QUALIFIED LEADS 100 X Higher chance of contacting 21 X Higher chance of qualifying AFTER 5 MINUTES Contact rates drop significantly Leads That Become: Qualified Contacted 5 MIN 10 MIN 15 MIN 20 MIN 25 MIN 30 MIN RESPONSE TIME Share this eBook: InsideSales.com | Blaire Group 12
  • 13. RULE #2 – PERSISTENCY Tip Make sure that your sales reps are wringing the most value out of their leads as they possibly can and are Best Practice not leaving money on the table. Sales rep should make 6-9 calls before giving up. Reality RULE #3 – OPTIMIZE Most sales reps are making one or two calls per lead before giving up. A few years ago, InsideSales.com was doing a research study with FranklinCovey. Their reps were calling Think about that people back immediately when they were abandoning If the contact ratio is between 10 and 11 percent and the sales process half way through, only to experience the sales rep is only make one or two calls, they’re the leads getting upset with them for calling. only going to reach 10 or 20 percent of the people they want to talk to. Their reps called a few of these individuals back on a later date and surveyed them. This is what they said, “I % OF SALES BY CALL ATTEMPT was halfway through buying a day planner and I forgot 100% my credit card. I didn’t have it with me. I didn’t want 91% 92% 93% 80% 90% you calling me – I just went and got my card.” 82% 85% 73% 60% 61% Tip 40% Put a field on your webform that says, “When is the 37% 20% optimal time to call you?” If the lead wants you to call, they will tell you when the best time to contact 0% 1ST 2ND 3RD 4TH 5TH 6TH 7TH 8TH 9TH them is. NUMBER OF CALLS Based on internal InsideSales.com research InsideSales.com | Blaire Group Share this eBook: 13
  • 14. RULE #4 – TIME OF DAY RULE #5 – DAY OF WEEK Assuming you’re calling into your same time zone In addition to the INITAL DIAL TO LEADS THAT BECOME CONTACTED (if not, then adjust accordingly) the best times to dial best time of day 2.5 are between 8:00 and 9:00 a.m. or 4:00 to 5:00 p.m. to call, the study also revealed the 2.0 If you call during these times, you’re going to have best days of the much higher contact ratios than if you’re calling around week. Tuesday is 1.5 lunch time. the worst day to be 1.0 calling. Thursday is M T W TH F CONTACTS MADE FROM FIRST DIALS the best. 3,500 3,000 Why 2,500 Most people go into work on Monday and then 2,000 get slammed from everything that came in over the weekend, only to spend all of Tuesday digging 1,500 themselves out. By Wednesday, they’re ready to talk 1,000 to people again. 500 0 Tip 7-8 8-9 9-10 10-11 11-12 12-1 1-2 2-3 3-4 4-5 5-6 BEST TIMES TO CONTACT 8-9 AND 4-5 Do some testing and figure out the best days of the week for your target industry. What This Means for Business If your morning sales team meeting is at 8:00 a.m., you’re wasting the best calling time of the day! InsideSales.com | Blaire Group Share this eBook: 14
  • 15. RULE #6 – GET DIRECT DIAL NUMBERS RULE #7 – LOCAL PRESENCE Do your best to find If I call you from San Jose, California, area code 408, AVERAGE MEETINGS PER % DIRECT LINES REP the desk phone or and you live in New York, area code 212, you probably MONTH (LAST 3) ON CONTACT LIST cell phone number aren’t going to answer my call. 1 11 51% of the prospects 2 13 45% you are trying to However, if I call you from a number with area code 3 20 76% reach. 212, you’re probably going to answer the phone. 4 22 74% Take a look at rep The odds of your prospect answering is 57.8 5 29 87% number six with percent higher if the call is from their own, local 6 33 97.6% an average of 33 area code verses a blocked, toll free or even a long Source Vorsight appointments per distance number. month. Vorsight went into the sales reps’ database 57.8% and found 97.6 percent of the sales reps’ personal data BEST How This Impacts Cold base included direct dials. The results of rep number Calling Efforts six’s efforts were triple that of rep number one’s. If you have ten sales The good news is that this is mostly a technique, MORE LIKELY TO ANSWER PHONE reps and you boost their productivity by 57.8 not even a technology. Teach your sales reps the FROM A LOCAL NUMBER percent with InsideSales. importance and impact direct numbers can have. TOLL com’s LocalPresence, TOLL FREE it’s the equivalent to BLOCKED hiring six additional full- WORST time sales people. InsideSales.com | Blaire Group Share this eBook: 15
  • 16. SUMMARY From this eBook, you’ve learned that simple changes to your sales approach can have a dramatic impact on your cold calling and contact success. What’s next? By implementing the best practices found in this eBook, any sales rep can experience enhanced confidence to tackle cold calling and increase success. This eBook was based on a webinar originally presented by Ken Krogue and Kraig Kleeman. View the webinar, POWERDIALER at www.InsideSales.com/webinar. DO 8 HOURS OF WORK IN 2 HOURS • Increased contact rates • Total visibility into sales • Best practice analytics activities SEE A DEMO GET A FREE • Optimized sales workflow • Happy sales reps EXECUTIVE SHOULDER BAG Start Free Trial Schedule My Demo Call: 877-798-9633 Call: 887-798-9633 InsideSales.com | Blaire Group Share this eBook: 16
  • 17. CREDITS CONTENT Ken Krogue | http://kenkrogue.com Kraig Kleeman | http://www.blairegroup.com WRITER Alex Orton | Jessica Winn | COPY EDITOR OPTIMIZE LINKEDIN Jessica Dyer | GET THE FREE EBOOK Download eBook DESIGNERS Scott Humphries | Stephen Gashler | InsideSales.com | Blaire Group Share this eBook: 17