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Strategic Guidance to Build Your Business
Volume 2, Issue 5, May 2008

"The Business Builder" is brought to you by VSA, Inc. in collaboration with Rink Consulting. VSA, Inc., founded by Valerie Schlitt, builds and implements B2B prospecting programs for businesses and professional service firms. VSA has a team of professional telephone callers who open doors to new business opportunities for VSA clients. Linda Rink, president of Rink Consulting, specializes in B2B and consumer marketing and research. Both Wharton MBA graduates, Valerie and Linda often team together to help clients identify and reach new customers. In this newsletter, they share some of their business development insights.

Cold Calling's Unique Ability to be Tested
by Valerie Schlitt, President of VSA, Inc.
Valerie Schlitt photo

Unlike virtually any other marketing tool, cold calling lets companies change courses at almost any time.

In today's ever-changing business environment, this flexibility is critical.

Companies new to cold calling must watch early results closely.

Testing, assessing, and refining the program from the onset are critical first steps. These actions can result in a long term program that produces a predictable stream of sales opportunities.

Veteran cold callers also must work. Constant attention is needed to keep the program sharp. Here's a recommendation: continue with the program that works, but apply a portion of your tele-prospecting investment towards testing new approaches that may surpass your existing model. When you find one that is more effective, replace your existing program, but continue to test new approaches.

It's easy to test and change cold calling campaigns.
Unlike print ads, radio spots, billboards, or most other marketing vehicles, cold calling programs make testing and applying those results to the program easy.

Here are some of the items that every program should assess:

1) The offer. Do you want to set a sales appointment? Do you want to invite people to a webinar? Do you simply want to collect email addresses for a campaign? Are you offering a free assessment, or a free trial? Do you need an incentive to enhance your "call to action?"

2) The list. Are the decision makers and the companies on your list the best prospects?

3) Talking points. Do your callers have the conversation points to highlight the key aspects of your program? Is there something compelling that needs to be added? Are the talking points too complicated or long?

4) Your calling team. How well do they represent you? How effective are they in talking to decision makers? Can they ask for the appointment?

5) Your ability to close the leads. This is the part that comes after a cold calling lead is identified. Can you cost effectively convert that lead into a sale? Do you have the people and processes in place? Are you getting qualified leads?

Case Studies

Here are short examples of savvy VSA clients who tested, assessed and refined their programs.

1) A software company implemented a program which successfully produced leads. However, the company was unprepared to convert the leads to sales. Now, this company plans a product-specific website, marketing materials and the right expertise to make sales calls. A second cold calling initiative is scheduled.

2) An online marketing company completed a program that produced poor results. The company has changed its offer to simplify steps prospective companies must take to enroll. A second campaign has been launched.

3) A commercial roofing company implemented a program and generated desired results. Later, the company realized the prospective clients were not a good fit. The company has implemented a second campaign targeting a different prospect list.

If you are planning a cold calling program, please call us to talk about the factors that can make or break your campaign. We'd like to know what marketing tools have worked for you in the past and show you how we can add to that success. We are happy to help.

How to Write a Winning Proposal!
by Linda Rink, President of RINK Consulting

For many of us, writing proposals is a necessary part of doing business. But do you regard it as a time- consuming chore? Do you worry about how much time and effort to put into the proposal in order to win the contract?

Keep in mind that the proposal serves two purposes:

1) To convince the client that you can do the job better than anyone else, and

2) To minimize the potential for misunderstandings between you and the client once you are awarded the work.

So a well-thought-out proposal not only may land you the contract - it may also save you grief, aggravation, and even money. Think of it as a "win-win" proposal - both you and your client benefit!

Here are 9 tips for writing winning -- and "win-win" -- proposals:

1) Be clear about why the client needs to have this work done and what will be done with your deliverables. Then restate your understanding of this at the beginning of your proposal. Everything that follows should explain how you will achieve this.

2) Be concise. Remember, the client is probably pressed for time, and does not want to wade through many pages to find out the answers to: "Can you do the job?" and "How much will it cost?"

3) Use clear, simple language. Don't try to impress with the amount of verbiage, or with language that is overly technical, contains industry jargon, or smacks of consulting clich�s.
4) State any assumptions you are making - especially ones that impact price, schedule or quality of results.

5) Don't give away too much information. Giving a detailed methodology in the proposal may be premature - isn't that what your client will be paying for? Besides, you run the risk of the client taking the information and having someone else do the work.

6) On the other hand, be as explicit as you can about the deliverables, so that your work is readily usable. You also do not want to be surprised by a last-minute client request for a PowerPoint presentation in addition to a Word document.

7) In the same vein, make sure you spell out what is covered in your fee and what is not. Clients don't like surprises -- especially those involving extra costs.

8) If you need data, resources or approvals from the client in order to complete the project, list these in as much detail as possible, including when you need them. State clearly that if you do not receive the information when needed, the project may not be completed on time.

9) Say upfront what makes you the best choice for this project. Keep it short in the proposal; include documentation (bio's, client lists, etc.) in an Appendix. Even if you are the only vendor submitting the proposal, you never know who will be reading it. Don't leave doubts in anyone's mind!

While there is no magic formula for writing proposals that are guaranteed to be accepted by clients, following these tips will help ensure a win-win situation for you and your client.

(Have any comments about this or previous articles? I'd love to hear from you at [email protected]!)

RINK Consulting
1420 Locust Street, Suite 31N
Philadelphia, PA 19102
215-546-5863
[email protected]
www.lindarink.com

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