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Strategic Guidance to Build Your Business
Volume 4, Issue 3, January 2010

"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.

What Can You Get With One Cold Call?
by Valerie Schlitt, President of VSA, Inc.
Valerie Schlitt photo

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!

2010 Trends
by Linda Rink, President of RINK Consulting
Linda Rink Photo

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!

RINK Consulting
1420 Locust Street, Suite 31N
Philadelphia, PA 19102
215-546-5863
lrink@lindarink.com
www.lindarink.com

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