| Additional
Resources for Consultants
Management
Consulting News
Interviews with consulting leaders,
articles, research results, job data,
and news. This month:
» Interview:
Ford Harding on making rainmakers.
»
Articles: generating
business by Alan Weiss, negotiating
without being a jerk, avoiding the
“presentation trap,” crafting
a direct mail marketing letter, and
getting started with corporate blogging.
Guerrilla
ConsultingSM Web site
Guerrilla
ConsultingSM blog
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The
Guerrilla Consultant –
a newsletter dedicated to applying the principles
of Guerrilla Marketing to the work and lives of
consultants.
Dialing in Desperation
“Ms. Patterson, you have a cold call from
some consultant on line two.”
That
message probably rates as much excitement as a
call from an IRS auditor. So, what usually follows
is a quick brush-off from the “prospective”
client.
Never
mind the stiff-arm response, the consultant thinks.
We cold callers know that a thick skin is table
stakes, and we expect rejection. I’ve got
to keep dialing for dollars.
Wrong.
With
all the high-impact marketing and sales strategies
available to consultants, it’s time to put
the cold call out to pasture once and for all.
Enjoy
the article, and let
me know what you think.
Mike
McLaughlin
Co-Author, Guerrilla Marketing for Consultants
Cold Calling: Lower Head, Ram Wall and Repeat
The
letter or email hits your inbox with an offer
of service, and the concluding sentence that says
this person you don’t know is going to call
next week to discuss these important matters with
you.
Please
don’t, ok?
The
cold call is older than fictional salesman Willy
Loman—and less effective, particularly for
consultants. A cold call campaign is founded on
the one-two punch theory of sales. First, you
send out a stack of “enticing” letters
to people you don’t know, and second, you
call them and solicit their business.
The
underlying logic of the campaign is that having
a large number of targets will work in your favor.
You know that most of your calls will result in
failure, but you hope a small percentage of those
you contact will agree to meet with you. And from
that group, some small percentage will want to
discuss a proposal, and a smaller percentage may
hire you.
What’s Wrong with this Picture?
If you’re selling aluminum siding, investments,
or cell phone service, maybe nothing is wrong
with that strategy. But most consultants would
rather work for free than make a cold call. Placing
a call to a complete stranger to make an offer
is self-serving, not client-serving.
Your
call is a solution in search of a problem, and
everyone knows it. You can be sure that if you
do make contact, that person’s guard will
be way up.
|
“The cold call is older than fictional
salesman Willy Loman—and less effective,
particularly for consultants.” |
Cold
callers are lucky if they get through to anyone
of significance. You’re more likely to reach
gatekeepers and tire kickers, not decision makers.
And remember, most direct mail is thrown away
or ends up in a spam folder before it’s
opened. So don’t be surprised if the person
answering your call has no idea who you are or
why you’re calling.
Even
if you’re fortunate enough to reach a decision
maker and your message is well-received, that
doesn’t necessarily help you. In the consulting
business, most service buyers obtain recommendations
from colleagues on which consultants to hire.
So, it’s possible that your call will give
the prospective client a great idea and, because
you are an unknown, that client will hire someone
else to do the work.
An
Offer They Can Refuse
A
cold calling operation wastes valuable time and
energy. Before you can experience the joys of
cold calling, you must have a data base of prospects,
a targeted letter, a phone script, and time to
place your calls. You also need a good system
for call scheduling, tracking, and follow-up.
But don’t forget to put on your hard hat
because most people are just going to say no.
Like
everything in the consulting business, you’ll
find an exception to any rule. It’s possible
to find consultants who swear by the effectiveness
of cold calling. For some professionals, cold
calling is at the center of their lead generation
strategy.
For
most consultants, though, cold calling is best
suited for initial introductions. And it takes
a fair amount of time to get those prospects into
the sales pipeline.
I
think of cold calling as a spaghetti strategy:
“Let’s throw it all against the wall
and see what sticks.” It’s a high
effort, low success numbers game that begins with
the false assumption that you can identify your
real prospects without knowing them, or their
issues.
“Sir,
Step away from the Phone!”
Eventually,
every consultant needs to meet prospective clients
to begin relationships and win new business. Otherwise,
you can’t grow a consulting practice. But
instead of mimicking telemarketers, use your precious
time to create a strategic lead generation campaign,
rather than engaging in a low probability numbers
game.
Begin
by identifying a small group of clients
you’d like to work with. It’s helpful
to rank the prospective clients using criteria
that suit you. For example, you may only want
to work in certain geographies, or for a particular
size of company.
For
some of the clients on your list, it’s likely
you can use the power of your network of contacts
for introductions. It may seem difficult to find
people who can provide you with an introduction,
but it is well worth the effort. A single introduction
by a trusted colleague will almost always guarantee
that client will take your call.
In
other cases, you may not know anyone who can help
you, so you need a different approach. This is
the point at which some consultants resort to
cold calls. Resist the temptation: you have many
other options for raising your profile among your
targeted clients.
Learn
as much as possible about your prospective client’s
industry and business. Identify the relevant trade
or professional associations that serve your targeted
client’s industry. Participate in those
events, volunteer to speak, or write articles
for the group.
|
“Use your valuable time building your
marketplace eminence, instead of compiling
cold call data bases.” |
Broaden
your network in the industry, and you’ll
meet people who can, and will, help you. If you
have a newsletter, keep building your list. Share
your best ideas on your Web site, and contribute
your articles to others’ Web sites.
Use
your valuable time building your marketplace eminence,
instead of compiling cold call data bases. Bring
value to your targeted market and execute a strategy
of creating relationships with prospective clients
before you try to sell them something.
When
you’re seeking new clients, put relationship
development ahead of short-term lead generation
and you’ll win without having to become
a telemarketer.
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