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1 COLD CALLING & NEW ACCOUNTS  Finding New Business is The biggest Challenge We Face in Sales  The Days of Showing up on the doorstep and getting a meeting.

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Presentation on theme: "1 COLD CALLING & NEW ACCOUNTS  Finding New Business is The biggest Challenge We Face in Sales  The Days of Showing up on the doorstep and getting a meeting."— Presentation transcript:

1 1 COLD CALLING & NEW ACCOUNTS  Finding New Business is The biggest Challenge We Face in Sales  The Days of Showing up on the doorstep and getting a meeting are virtually gone  As our product offering grows, customers want a “solution based” provider vs. a product based provider  We need to find larger accounts that will give us the return on time invested we require

2 2 Consider Setting up your Accounts in a funnel This will help you know where to focus your efforts Outside the funnel – is your total territory and all that happens there The largest section of your funnel should be suspects Suspects that appear to have met requirements are moved to prospect Prospects that have an immediate opportunity are moved to hot Ones Hot ones are closed to become customers COLD CALLING & NEW ACCOUNTS How do we manage our areas? SUSPECTS – LEADS PROSPECTS HOT ONES CUSTOMERS

3 3 These are businesses in your territory that could have a need for your product At this point you need to do a preliminary overview of the business to assess if there is a need Look on the Web Try to gather information from the “back door” Ask customers who may know the account. Check Trade Associations, other reps who may have business with the account COLD CALLING & NEW ACCOUNTS SUSPECTS SUSPECTS – LEADS

4 4 Who is the account buying from now What appears to be their success criteria? i.e.. Price, service, training cost savings, green etc It is very important to understand this criteria before approaching the account Determine how the decision making process works and who need to be involved (key decision makers) There may be more than one What is their current situation and position in the market? Also what do you know about their future plans? COLD CALLING & NEW ACCOUNTS SUSPECTS SUSPECTS – LEADS

5 5 Once you have a general Knowledge of the account, the ones that have met the criteria now move to the PROSPECT Stage Maintain a master list of prospects adding when prospects are promoted to Hot Ones or if they do not have a need If timing is the issue, but a need has been discovered, place this back to suspect list for follow up Confirm that the opportunity time & expense requirements are in line with sales expectations This is the stage that initial contact is made COLD CALLING & NEW ACCOUNTS Prospects PROSPECTS

6 6 At this stage it is CRUCIAL to estimate your Return On Time Invested R.O.T.I This will help you best assess the time that should be spent on this business Using the estimated volume this account could generate, calculate your expected commission for that volume Divide that by the estimated time required to secure and maintain this account Is this in a range that is going to provide you with the income you need or want to get to? COLD CALLING & NEW ACCOUNTS Prospects ACCOUNT ABC Estimated Sale = 5% Commission =$5, You are estimating your earnings this $50, weeks = $1, per week or $ per day 8 hr day = hr $5, divided by = 192 hours or 24 Days

7 7 If there is a disconnect at this point, look at what you can offer that would reduce the hours required. Is this an acceptable presentation? Be aware when price is the customer’s key success criteria Think of this as a transactional account. Be specific as to what value added is included with the proposal and price additional support separately to show value Do a SWOT analysis regarding the current supplier This will help you with a competitive advantage statement for a letter / first call COLD CALLING & NEW ACCOUNTS Prospects PROSPECTS

8 8 Take time weekly to do initial contact with prospects that have met the criteria required. An excellent first contact can be a letter addressed to the individual who appears to be the decision maker. This letter will be short with lots of white space and should include your competitive advantage, or short reason why the customer should do business with you Make sure the letter has a date that you will be following up with the contact and make sure you call that day. COLD CALLING & NEW ACCOUNTS Prospects PROSPECTS

9 9 If the customer has read the letter, calling when you say helps establish your reliability with the customer. Be prepared that the customer may have not seen the letter or does not recall it. Should this happen you need to be prepared with a similar competitive statement that can secure you a first face to face meeting. COLD CALLING & NEW ACCOUNTS Prospects PROSPECTS

10 10 If the contact refers you to someone else in the firm, ask if it is okay to let them know you were speaking with the initial contact. A good idea is to get in a cycle of sending four letters per week and follow up with four phone calls to the previous weeks’ letters COLD CALLING & NEW ACCOUNTS Prospects PROSPECTS

11 11 When a letter is not used an initial phoned call is required Both of these methods are to secure an initial face to face meeting. Work on scripting an initial cold call that can be customized to include your competitive advantage statement. KEEP IT BRIEF Use a referral name at this time if you have one COLD CALLING & NEW ACCOUNTS Prospects PROSPECTS

12 12 Avoid giving too much information at this time. The key is to get a meeting. Ask for an appointment time and tell them you only need ---- minutes of their time. Be aware of customers trying to get more information over the phone. This will weaken your face to face presentation. Keep a log of your contacts with the account. COLD CALLING & NEW ACCOUNTS Prospects PROSPECTS

13 13 Scripting the Letter Dear , For over half a century SK Sanitary has been serving the lower mainland with innovative solutions for facility cleaning. Our partnership with Advance Cleaning Equipment has put us at the forefront of innovative solutions for cleaning of multiple floor surfaces. These new methods allow for improved presentation levels while reducing your overall cost to clean. I will be following up with you on October ---- to arrange a time to discuss this opportunity with you in person. Develop a series of “templates” this can make the letter writing process fast and effective. COLD CALLING & NEW ACCOUNTS Prospects

14 14 Scripting the Letter Dear , The fall season is upon us and we all know that outbreaks of colds, influenza and other maladies will hit their peak. A common problem in the ---- industry is how to clean to minimize risk while working within a “green” cleaning program. For over half a century SK Sanitary has been at the forefront of new and innovative products for the Lower Mainland. Through our partnerships with leading brands including Enviro Soultions and PerfectClean we can offer programs that will maximize results while being cost effective. I will be following up with you on October ---- to arrange a time to discuss this opportunity with you in person. COLD CALLING & NEW ACCOUNTS Prospects

15 15 Scripting the Phone Call Write down your presentation – this will help you keep on message Keep it brief Open with a reference if you have one Only leave a message if you have a reference Remember people like to hear their names Design the call for the industry you are calling Make sure you have a competitive advantage to refer to during your call Assure the customer that your meeting will be brief COLD CALLING & NEW ACCOUNTS Prospects

16 16 Scripting the Phone Call Hello is this Fred Smith? Fred, my name is of SK Sanitary Specialties. John Doe suggested I speak to you. Fred we are in the business of assisting customers with selection of cleaning equipment for maximum productivity while enhancing presentation levels. A typical problem is cleaning multiple floor surfaces economically while reducing the complexities involved. At SK Sanitary we are pleased to offer the latest equipment from Advance and certified Green Cleaning Chemicals from Enviro Solutions. We can tailor a cleaning program that will deliver superior results while reducing complexity, storage and cost. I need only 20 minutes of your time unless you have questions to show how this can work for you. Would 0:00 o’clock work for you? COLD CALLING & NEW ACCOUNTS Prospects


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