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
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COLD CALLING & NEW ACCOUNTS
How do we manage our areas?
• 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
SUSPECTS – LEADS
PROSPECTS
HOT
ONES
• Prospects that have an immediate
opportunity are moved to hot Ones
• Hot ones are closed to become
customers
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CUSTOMERS
COLD CALLING & NEW ACCOUNTS
SUSPECTS
• 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
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SUSPECTS – LEADS
COLD CALLING & NEW ACCOUNTS
SUSPECTS
• 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?
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SUSPECTS – LEADS
COLD CALLING & NEW ACCOUNTS
Prospects
• 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
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PROSPECTS
COLD CALLING & NEW ACCOUNTS
Prospects
• 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?
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ACCOUNT ABC
Estimated Sale = $100,000.00
@ 5% Commission
=$5,000.00
You are estimating your
earnings this year @
$50,000.00
48 weeks = $1,041.00 per week
or $208.00 per day
8 hr day = 26.00 hr
$5,000.00 divided by 26.00 =
192 hours or 24 Days
COLD CALLING & NEW ACCOUNTS
Prospects
• 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
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PROSPECTS
COLD CALLING & NEW ACCOUNTS
Prospects
• 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.
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PROSPECTS
COLD CALLING & NEW ACCOUNTS
Prospects
• 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.
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PROSPECTS
COLD CALLING & NEW ACCOUNTS
Prospects
• 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
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PROSPECTS
COLD CALLING & NEW ACCOUNTS
Prospects
• 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
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PROSPECTS
COLD CALLING & NEW ACCOUNTS
Prospects
• 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.
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PROSPECTS
COLD CALLING & NEW ACCOUNTS
Prospects
• 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.
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COLD CALLING & NEW ACCOUNTS
Prospects
• 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.
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COLD CALLING & NEW ACCOUNTS
Prospects
• 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
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COLD CALLING & NEW ACCOUNTS
Prospects
• 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?
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