Basic cold call framework that works if you work it (Part 2)
+Homicide Detective Makes Best Case for Sales Process
Cold calling is becoming more difficult. Buyers are much more informed and less likely to pick up the phone. Connection rates are dropping and making tons of calls is becoming less efficient.
The phone is still very effective, and cold calling is not dead. However, tools must improve, and phone skills must increase. Sellers must be willing to adopt a multi-channel approach and increase their cold-calling skills.
Newer sellers are often overwhelmed with information and not prepared for cold calling. It is hard work, which usually leads to reps throwing in the towel too soon. Setting the right expectations is paramount, and committing to becoming a skilled sales professional will make or break your sales career.
I believe the rewards and opportunities are worth it if you are willing to learn and commit to growing your skills. In part one of this newsletter, we discussed the first two parts of a basic cold call.
Now, we will cover the last two.
Value Statement
If you have made it to this part of the conversation, you are doing better than the majority of cold callers. Most don’t make it past the opener.
The value statement focuses on common pains or challenges that the person you are speaking to usually experiences. It can be challenging to identify these, and it requires some research.
There are two ways to do this, one of which is much more effective. The basic method is to state one or two common challenges that your prospect usually faces in their role. The second is to make a highly informed statement about their business objectives or challenges. Then, follow up with an open-ended question.
Let’s take a look at these.
If you speak to a director of sales, they may often be faced with ramping up reps quickly and hitting their quarterly targets. If you speak with a marketing leader, their focus may be on lead routing and lowering the cost per lead. This is the “common challenges” approach.
"I am speaking to sales leaders like you often, and they are usually struggling with ramping sellers and hitting quota. How are you handling this?”
The key is to get them talking about their pains and challenges, then to confirm that it is a problem worth changing now.
Then follow up with a question.
“It sounds like productivity could be better. If this remains the same, what does that mean for you and your sellers?”
If you are a newer seller, I’d recommend using a script for reference and to keep you on track until you gain some confidence and experience.
Alternatively, the “informed statement” establishes credibility and usually surprises the prospect because of how specific it is. If it’s done well, they are often impressed that you asked such a thought-provoking question that is relevant to their business.
“I know that your sales org has account executives and XDRs. The handoff between these two roles is important in making sure the XDR shares important challenges and insights learned with the account executive to prepare for the next steps. How is this handoff handled, and key talking points not lost?”
As your confidence and experience grow, progress from a cold-calling script to a framework. What I consider a script is a bit more rigid and read verbatim. Whereas a framework is flexible and your responses will change based on the prospect’s responses and the flow of the conversation.
I do not suggest starting with a framework because it’s not simple and often requires more understanding of your product and familiarity with common objections.
This can be overwhelming and much less repeatable, preventing dials and gaining practice.
Close
This is usually the easy part if you nailed the other parts of the call. If you have got the prospect to open up about their pain, and they have confirmed it is worth dealing with, go for the close.
Notice that I have not pitched or shared the product at all. The prospect does not care what your product does; they care about the challenges they are facing. They care about their problems, and if the timing is right, how to fix them.
Most of the time, if done well, the prospect will ask you about your product and what it does. This is how you know you are doing well.
I like to use the assumptive close; it portrays confidence.
“It sounds like this is worth taking a look at; do you have your calendar in front of you? What does next week look like?”
I’ve learned that keeping it simple as a new seller leads to results quicker. There are more advanced skills to cold calling that will come in time and with experience; however, I’ve learned that the quickest way to results is to follow a proven path.
Use a basic script and make tons of calls. Nothing beats that experience.
Mike Tyson said something that stuck with me: “Everyone has a plan until they get punched in the face.” You want to get punched in the face early and often so that you know what it feels like. Metaphorically, of course.
This is the moment the prospect picks up the phone and says, “Hello? Who is this?”
As your experience and confidence increase, so will your skills.
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Until next time,
Tajh
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