Archive for the ‘Uncategorized’ Category

Is It Worthwhile To Cold Call?

March 18, 2010

“How dare you give me a ticket officer, I pay your salary!”  You’d never hear anyone say this.

“I work at a call center, we make cold calls for people, and I love it,” You’d never hear anyone say this either.

Maybe I’m exaggerating a little bit, but seriously, could you find 10 friends whom love to cold call?

Really, can you?

It’s tough on the psych to get hung up on again and again.

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It’s safe to say that few people love cold calling and should be surprised that people quit cold calling jobs as often as  they quit McDonald’s.

Cold calling isn’t dead, but think twice to yourself whether it’s worth doing. Studies (and my own experience) show that the average sales person will have to spend 5 hours calling prospects before a single one buys. Since these phone calls average about 3 minutes each, it’s an astronomical amount of nos before you reach a single “yes”.

So how much money do you make per sale? You need to know this before you embark on cold calling conquests.

Is it worth the time you invest in? Are you better off dropping flyers or doing direct mail?

As a guideline, I suggest that if you don’t you make at least 5 times the minimum wage per customer a year, don’t prioritize cold calling.

Since you are spending 5 hours on it, you should at least make more than 5 times the minimum wage per sale. And that’s profit, not sale. Selling a textbook for 100 dollars but only making 10 dollars means you’ve made a profit of 2 an hour only. Remember, you can’t just delegate it to someone in a developing country, so use it well.

For those with love, passion, or grit, you’ve got my respect.

Just don’t cold call me at home 😀

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Dating Game of Sales

March 18, 2010

“Will you marry me?”

“But I barely know you”.

So alright, when you’re selling $500 computers, it’s different from marrying someone for life.

But you know how many guys move too fast? Well, they carry these bad habits when they sell things.

They want to get married in the first meeting and then get offended when someone wants to think it over. They don’t realize that after she gets to know you better, she actually might want to marry you.

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It’s the same in sales: you don’t propose marriage on the first date, you take things slowly.

The best way to get to a person is through a mutual friend, no questions about that. That way, they kind of have an idea of how good you are.

Of course, welcome out of the textbook world and into the real world, that isn’t always possible.

So you’ll have to cold call and take a lot of rejections (see my other article). Its part of life, so be prepared to tough it out. There’s a reason why not everyone is rich, and it’s because they won’t want to be.

Next, make sure you make the date fun. I’m not saying you should go to a strip club (although this isn’t unheard of) but you don’t want to bore your date to death with statistics about how great you’re product is. You get turned off when all guys do is brag how good they are and don’t give a damn about you, but that’s how much sales meetings do. Is it a wonder why so few people get overjoyed about them?

If you want to get married, you’ll need to spend time with you. It’s not that there’s anything wrong with you but just that they don’t know you well enough yet.

And this is where most salespeople falter. Just because I don’t’ immediately say yes, I’m suddenly on your enemies list.  So slow down the process add courting first.

And who knows, someone might say yes right away, but that’s their decision, not yours.

A Sneaky Little Trick Of Threes

March 18, 2010

Have you noticed that in movie theaters and joints offering food, people ask you “ would you like to upgrade to a large coke” when you order a small?

I almost never bother; I only order the small one.  My friends are the same way.

When I used to work fast food, I was instructed to ask this, but I rarely hear any “sures”. Maybe it’s because she doesn’t want to seem like a big that I’ve never heard a single girl upgrade to a large anything.

Here’s a little trick many little establishments have come up with. Instead of having two choices,  they have three.

The idea is that if they sell only two types, then I just has a choice between yes and no.  Without anything to think about, you only look at price and buy the lesser one.

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Now, instead of offering you two choices, the establishments offer you three. The middle one is usually called the “regular”. Now, what happens is they hope that you look at the large one and feel it’s dazzling (wow, so much). But, most people will also look at the price think “out of your league”. Yet they will also look at the smaller one and find it unappealing.

Usually, what happens is that you end up looking at the middle choice and feel “ah, this is just right.”

It’s not too big or too small. It is called the regular, so it must also be a safe, popular bet (they’re hoping you follow the lead).

And plus, you just might actually buy the supersize.

You see this in every business, whether they’re selling advertisements or printers.

Do you find this ethical? Please let me know below.

Require A Break

March 9, 2010

Hi there,

I really appreciate you for sticking with me and reading my blog. I’m really sorry that I’ll have to take a break from blogging. I hope we can meet again in the future.

Three More Ways To Surprise Your Customers

March 6, 2010

Want To Get Something Profiled? Leave Me A Link In The Comments To Look At :).

Surprise 3: The Audacious statement

Have you every seen a restaurant recommend by their owner? Now you might think, “someone will think I’m stupidly bragging. Whom doesn’t’ recommend their own restaurant*”

You are afraid someone will be offended? Well then, just look at what everyone else is doing and try to blend in. Don’t worry, no one will notice you.

*actually you’d be surprised. A nameless friend once warned me about eating at his restaurant because he said the food wasn’t good for my health.

Surprise 4: Handwritten And Video Testimonial

Make the testimonials sound as dramatic as possible. Most testimonials sound really templated. Instead, I suggest you write the testimonial (ethically) for your customer and then ask their approval to sign it. Also, ask your best customers if they are willing to make a short video testimonial for them. Return the favour by making a video testimonial for them or one of their customers.

Surprise 5: Humour and Personality.

Most marketing is boring. I would fill my writing with business school buzz word like “value chain”, “customer service”  (doesn’t that usually just mean we’re not doing anything) and “innovation” but  I don’t. If you were thinking of plagiarizing my articles for your college courses, I warn you, you’ll probably bomb. I would never wrote like this in school, and that’s why it’s more interesting. I try to be witty, I don’t try to formal unless I feel it sounds right.

So, what if you’re boss wants “professional” ads. Well, I hope you work at a Fortune 500 company. Otherwise, my crystal ball says your sales will be dismal. But don’t worry, you tried. Just be prepared to take the blame.

A Free Way To Differentiate Your Company.

March 6, 2010

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How to make $100K+ per year

March 4, 2010

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Creating Surprise In Marketing

March 2, 2010

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How Research And Development Works

March 1, 2010

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Does this describe how research is transformed in your organization?

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Are You An Ice Miner?

February 28, 2010

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What business are you in?

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