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Strategic Guidance to Build Your Business
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Volume 4, Issue 3, January 2010
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"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.
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What Can You Get With One Cold Call?
by Valerie Schlitt, President of VSA, Inc.
I doubt there's anyone involved in B2B prospecting
that would recommend a cold calling campaign with
just a single call to each prospect. Maybe this simple
approach worked in the past. Today you need to
make repeat calls, send emails and continuously
follow up.
But, what if you have only enough time or budget
for one call to each prospect? And, what if you really
want to see what you can get out of this campaign?
Here's what you can realistically expect:
- Decision Makers Names
If you don't already know who makes the decisions for
your product/service, you can expect to identify new
and better decision maker names in about 30% of the
records. Do this by asking questions and "navigating
the firm."
- Bad Records Eliminated
You can eliminate companies who are out of
business, have the wrong number, or have absolutely
no reason to purchase your product/service. This
might represent 15 - 20% of the records. You can
simply eliminate these records from future
calls.
- Companies to Stay in Touch With
Some firms will ask for more information and will be
viable prospects for future sales. Make sure to
separate the "push-offs" from the truly qualified leads
by asking the right questions. Then, keep these
companies on your follow up list.
- Voice Messages
You can begin to gain name recognition for your
company by leaving voice messages with decision
makers. This will help you the next time you make a
round of calls to these individuals.
- A Few Qualified Prospects
Depending on how universally needed your
product/service is, there may be a small percentage of
prospects who want to "buy now." Typically you will
find some percent that have an immediate need, but
remember, with a single call, there is no guarantee
you'll find "hot" prospects on the first
round.
- Modified the List and Script, if
Necessary
You can validate the quality of the list and the script -
and make modifications as needed. There is no way
of really knowing if your list or script are good until you
start making the calls. But, do not call blindly through
the list. Stop and ask yourself if anything can be
improved. This will make your second and third round
of calls more productive.
- MOST
IMPORTANT Gain
Confidence Talking with Prospects
If you
have
never called your target market before. If you have
never experienced the questions they will ask. If you
have never answered questions "on the fly" (even
though they are written and sitting right in front of you).
The initial round of cold calling is THE MOST
IMPORTANT TRAINING GROUND. You will gain
confidence talking to this group of prospects. You will
begin to anticipate questions, have answers that
resonate, and be able to hold your own in a longer
conversation. You will not need to rely on a script. All of
this takes time, practice and real life
experience
Remember, a pilot program is typically 50 hours long -
about a week's worth of work by a single individual.
No matter how strong a cold caller you are, one week
on a new program cannot replace months of
experience. If you want to invest in a one-call
campaign, it's important to know what to expect.
Based on the results listed above, the results of your
first round of calls will have the biggest benefit when
you're making your 2nd and 3rd round of calls!
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VSA, Inc.
441 Station Avenue
Haddonfield, NJ 08033
856-429-5078
valerie.schlit@vsaprospecting.com
www.vsaprospecting.com
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2010 Trends
by Linda Rink, President of RINK Consulting
We've been inundated lately by articles overviewing
the last decade's trends. Interesting, but I find it more
useful to look forward. One of the challenges of
research is to step back and look at the "big picture"
implications of masses of data. Tricky if you are trying
to predict the future. Luckily for us, there are lots of
folks who have done it for us.
I've reviewed a number of business and
consumer-related posts by trends "experts."
Here are some of my favorite predictions for 2010
from different sources.
1) MASHABLE
Pete Cashmore, founder & CEO of the
blog "Mashable - The Social Media Guide," wrote "10
Web Trends to Watch in 2010" for CNN
(http://tinyurl.com/ya36
k6c). Among them:
- "Real-time ramps up," says
Cashmore, "sparked by Twitter,
Facebook and FriendFeed. Immediacy is compelling,
engaging, highly addictive. It's a sense of living in the
now." Think real-time reviews, instant answers, 24/7
connectedness.
- "Content curation." I've talked about
information overload in previous newsletters.
Cashmore predicts that personalized filtering, whether
through social media or by professionals
(researchers, aggregators, etc.), will render IO
manageable and relevant.
- "Cloud computing" will become even
more popular. The term refers to server-based ("the
cloud") data and applications that allow access from
anywhere. Look for Microsoft's launch of Office 2010
with online versions of Word, Excel, etc.
2) DUCT TAPE MARKETING
John Jantsch, author of Duct Tape Marketing, recently
wrote "5 Trends That Will Shape Small Business in
2010" for American Express' Open Forum
(http://tinyurl.com/yd67t
y9).
For Jantsch, it's all about social media. He echoes
many of Pete Cashmore's predictions and adds one
of his own:
- Fusion of online/offline. As part of their
marketing tactics, small businesses will use social
media vehicles to drive people to their websites,
workshops and other events -- and vice versa. Savvy
marketers have already been doing it, but Jantsch
predicts these tactics will go mainstream. I predict
they will overtake SEO as the latest thing to do.
3) FAITH POPCORN'S
BRAINRESERVE
Remember Faith Popcorn, who invented the
word "cocooning" years ago to describe a type of
consumer lifestyle? Her consulting firm,
BrainReserve, is still identifying and naming trends
(www.faithpopcorn.
com).
She predicts that 2010 will be the year of "Lo-Co"
(Local Cocooning). Here are some examples:
- "Lococonsumer" -- deliberately buying
neighborhood and community-sourced products and
services of all kinds. An obvious broadening of
the "locavore" movement in food (eating locally-grown
foods).
- "Cyberhood" -- online communities,
based on common interests. "And even though it's
the 'worldwide web', it too, is looking local, as is much
of media," says Ms. Popcorn. Not a new trend, but one
which will continue to strengthen.
4) TRENDWATCHING
One of the world's leading trend firms,
trendwatching.com scans the globe for emerging
consumer trends, utilizing its network of hundreds
of "spotters" in more than 120 countries.
Its "10 Crucial Consumer Trends for 2010" can be
found at
http://trendwatching.com. Many of its predictions
echo -- or perhaps are the basis for -- the ones I've
already cited.
With so much emphasis on "real-time" and 24/7,
2010 looks to be even more rushed than 2009! So it's
time for my last 2010 trend:
5) PANTONE
Pantone, one of the world's leading color authorities,
announces the "Color of the Year" for 2010:
PANTONE 15-5519 Turquoise. Say the folks
at Pantone (www.pantone.com): "Turquoise
transports us to an exciting, tropical paradise while
offering a
sense of protection and healing in stressful times."
While I'm sorry that I can't reproduce the "Color of the
Year" here in this newsletter, just reading the
description makes me calmer and happier. Hope it
works for you too!
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RINK Consulting
1420 Locust Street, Suite 31N
Philadelphia, PA 19102
215-546-5863
lrink@lindarink.com
www.lindarink.com
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