I didn’t know cold calling was such a hot button issue, but apparently it is. We published a piece by contributor Kelley Robertson about “The new rules of cold calling for advisors.” It kicked off a firestorm of debate. Read over these missives and let me know which side of the fence you reside on in the cold calling debate.
Waste of time
Why do people still promote cold calling? It is the least effective, most intrusive form of sales prospecting, and is a total waste of time. And why would anyone trust someone who cold calls them with their money? Work through referrals and you’ll convert your prospects to clients more than 50 percent of the time, shorten your sales process, eliminate the competition and incur no hard costs.
When you receive introductions through referrals, your sales prospect wants to talk to you. How great is that? Start with a referral plan for your current clients. They know you and trust you. Current clients are our most under-leveraged source of new business. They’re delighted to refer us, but we must ask. Try this phrase: Who do you know that I should be meeting?
- Joanne Black