Cold Calling Help

[eclipsed]

I've decided to start cold calling until I have enough money to start buying leads. I have a couple questions for those of you with cold calling experience.

1. So far I've written down 48 phone numbers of small businesses in my area. I thought talking to small business owners would bring more success than cold calling regular people at home. Is this true?

2. What is the success rate for cold calling? I was thinking it was like 5 appointments for every 100 calls (5% success rate), is that about right?

So far my script is:

Hello, I am a Life Insurance agent in your area calling to make sure that small business owners like yourself are both protected by life insurance and are paying a fair price. Do you currently have life insurance?- (Yes/No) -My company offers life insurance from 27 different companies to make sure that you get the best protection for the best price, would you be interested to see if my company can save you money?

Is that script good? Can you guys share your scripts with me?

 

[VolAgent]

Its a yawner.

"Hi, I'm a life insurance agent in 'your town'. I work with successful business owners like yourself. Would you have any objection to my stopping by to introduce myself?"

Do you really care if they already have coverage? Do they really care how many companies you represent? What is a fair price? Do you really care that business owners are protected?

 

[rapidrobert]

If they're truly small enough businesses that wouldn't have group benefits already then you would be better served doing a "walk and talk" IMO. Might bring some magnets, or a few brochures with you and just be casual and conversive.

Make a few relationships and then keep stoking the fires once in awhile.

 

[eclipsed]

Its a yawner.

"Hi, I'm a life insurance agent in 'your town'. I work with successful business owners like yourself. Would you have any objection to my stopping by to introduce myself?"

Do you really care if they already have coverage? Do they really care how many companies you represent? What is a fair price? Do you really care that business owners are protected?

Thanks for the tip. As I re-read my script I have to agree, it is boring. I'll try using your script, it seems more straight, simple, and to the point.

 

[Insuranceman]

Hi, I'm a homeless insurance salesman I need you to buy insurance from me so I can keep my kids from starving. Works like a charm.

 

[VolAgent]

Thanks for the tip. As I re-read my script I have to agree, it is boring. I'll try using your script, it seems more straight, simple, and to the point.

Now, I'm not saying that you're going to hit it out of the park with that. You won't, but everyone will know darn well why you're there. Also you didn't bore the guy to tears in getting to that point. One thing I will add, you're going to be seeing a lot of people who've had trouble getting coverage in the past this way. You better have some impaired risk carriers in your portfolio.

Also, I usually say. "...stopping by to introduce myself and show you the kind of work I do."

 

[eclipsed]

Well, I started cold calling today and now I see why people hate it so much. I started getting discouraged after just 3 calls. It's good thing I'm very self motivated (and I have a picture of a G37 coupe as my wallpaper reminding me why I'm doing this) so I've been pushing myself.

The weird thing is its been hard to stick to the script, as soon as the owner answers, my mind goes blank and I end up just emprovising. Luckily even my randon presentation still gets the point accross.

I'm planning to call 48 small businesses (gift shops, restruants ect.) around my area today. How many cold calls do you guys usually do before you get an appointment? I'm hoping to get at least 2 appointments out of the 48 calls, is this realistic?

 

[VolAgent]

Stop internalizing their responses. They don't know you from Adam, its not directed at you personally, just cold callers in general. Also, stop trying to handle objections. The harder you work for the appointment, the lower quality it is.

 

[padthaiforlunch]

The weird thing is its been hard to stick to the script, as soon as the owner answers, my mind goes blank and I end up just emprovising.

Keep the script in front of you. Print it out double space and 14 point type.

 

[Josh]

Why are you calling on businesses as opposed to consumers?