In 2019, I started cold calling as a salesman. I hated it. Absolutely detested it. Being an extroverted introvert, the process of cold calling always had an initial inertia about it. The only part of cold calling I enjoyed was when I had generated all my leads from web scrapping — but the act of calling those leads was too cumbersome.
The way to overcome the initial intertia was to simply “just do it” without paying excessive thought to what you were about to do. When you’re over that, you’re then faced with another hurdle, the possibility of rejection. The only way to get over that is to become antifragile. Once your mindset is tuned to aid performance, then the things I learnt as a salesman finally begins to be of use.
~80% of your sales are from 20% of your leads~
Before anything a salesperson must be loyal to their product, division, and company. Once that is present, then we can begin valuing words.
In sales, leads can be categorized ultimately according to their “words”.
There are three kinds of words group:
- The ones who say no from the get go
- The ones who say yes and don’t deliver
- The ones who say yes and do deliver
The ones who say yes and don’t deliver are the most tiresome. Also, the only way to separate the third group from the second group is by defining a set time in which they must deliver. If they deliver on that set time, then they are in the third group; else they are in the second.
You can systematically bombard those in the second group by constant and spaced reminders.
What does constant and spaced reminders mean? You speak to the client on the phone for the first time. They agree to follow through. You called them T amount of time later (T is determined by the task they ought to do to begin the process of transacting your sale). You proceed to call them 2 x T then 3 x T etc. until they deliver. You can use any example of a constant or spaced reminder. Below is an example.
Group two can cause a wastage of time, but can also be a source of untapped opportunity. The best way to keep tapping into that oil well is by setting up an automated system to remind you who to call when to call and what number of calls is this, and what they said on the previous call(s).
“When convincing”:
- use their name
- draw out examples in some real life, relavent, and real-time familiar thing they can relate to
- use metaphors, descriptions, and analogies
- try to follow the “path of minimum resistance”.
- Engage in a discussion, because a discussion means they aren’t merely listening — they’re listening, processing, and replying. For example, ask a series of questions during the conversation. While giving them an analogy drag them in to help you describe that analogy — this makes them feel a sense of co-ownership or the existence of a relationship.
What is the path of minimum resistance?
It is when you have a product or service you’re trying to sell and you will advertise it with the most minimum resistance for the client, which often means high hassle for you. Essentially, you put extra work from your end to transfer any hassle from the clients end, by acquiring your service or product, to your end.
Eg. personal assistance, special offers, extra help, added services from your end, faster delivery, services not offered by the company- (that you recognize as a hassle for the lead) but you’ll do extra on your end (to eliminate the hassle), etc. In the diagram you’ll notice how the path of least resistance that looks most attractive is the no hassle followed by the low hassle then high hassle. De-hassle the sales process. Because the only no hassle situation they see right now is to tell you a big fat “No”.
To expand on this idea, we must clarify that the product or service itself might be the source of transferring hassle away from the client. However, one must immediately recognize that that hassle is independent of the one present during sale. People are generally busy or would like to think of themselves as busy — that adds to the hassle of:
- researching your product
- process of purchasing your product
- moving from your competitors product (where everything is) to your product
- needing to consult a team or go through hierarchy
- needing to trust you in order to work with you
- operating with something new
- taking a potentially risky move
Countering these points is easy and mellifluous when you’re constantly pairing “the path of least resistance” and your “when convincing” techniques.
In episode 13 season two of The Big Bang Theory, Sheldon, who is an extraordinary physicist, develops a friendship algorithm and depicts it in the form of a flowchart. He tests it out by calling his prospective friend. His flowchart is all but magnificent — save for one missing detail that Howard, an MIT engineer, points out. Apparently, Sheldon had forgotten to add a loop counter and an escape to the least objectionable “activity”.
Although his method of making new friends feels excessive and even unnatural, I think we ought to treat sales in almost the same way as Sheldon treats making new friends.
It’s useful to keep these nifty tricks and tools in your arsenal:
- Develop your own script and prepare answers to common questions. With simple answers be concise. With questions requiring an elaborate answer, be creative.
- Find relavent interests or analogies that may connect you and your lead
- On a call, one must try many strategies to achieve the path of minimum resistance without coming off as desperate. (Use a loop counter, *wink* *wink*)
- Create a spreadsheet with records of a leads name, number, email, when you first called them, what they said on the first call, any subsequent calls, and whether the deal was closed or not.
- Introduce yourself slowly and carefully. A fast introduction seems rushed and it’ll make you look unimportant, and therefore as you brushed yourself (introduction) away, they too can just as easily brush you away.
- Divide your leads based on their postions, occupations, and any other relavent factors for your market. Then analyze from your spreadsheet, and deduce which categories correspond to which “words” group; and act accordingly.
- Feedback is very important. Make sure any client feedback is noted and is forwarded to the relevant teams. Also, keep communicating with your leads who turn into clients (“words” group three) so as to generate future leads from them. After all, they fall within the 20% of your leads that lead to 80% of your sales.
The Three Skills:
- PERAC: Plan, Execute, Record, Analyze, and Change. Basically, have a plan and stick to it. When you carry it out, record and analyze the results. Then improve it accordingly.
- Adaptability: Apply the path of minimum resistance and the “when convincing” techniques — this protects you against the unexpected and adapts you to it accordingly
- Situational Intelligence: Notice your leads behavior, mirror their mood with slightly added energy (elevate them to it), transfer your trust and loyalty in your product/service to them, and realize if it is a bad time to call and ask them when you can call again.
Being in sales for the brief time that I was in taught me how to beat inherent inhibitions and how to plan my way to a “Yes” and a deliver. Learn from other sales people, explore all avenues, and take what you think is the beat for your approach. Each market is different. People are different. Notice where your yeses came from and drill there.
Happy drilling!