Cold Calling! tagged: , , , , , , , , ,

Cold Calling!

Posted by in Brian's Blog, Tip Of The Week

This question was asked on the Commercial Hotline Site.  The question and answer, I thought would be helpful to those trying to get some QUICK COMMERCIAL VOLUME!

“Brian, I’m starting to hit the phones for commercial referrals  (averaging 50 calls a day and know I can do better).  I’m doing all cold calls now to business brokers, CPAs, Commercial Realtors, etc. I’m calling to get their email address to send them an email with contact info and a flyer or two, but feel like I need to get off the phone fast, so I don’t push their tolerance for a cold call.

Usual call is “my name is X, I’m a direct lender doing commercial loans nationwide, including SBA and some investment loans.  Also offer other niche financing.  Can I get your email to send you my contact info and a flyer about the loans we’ve closed recently?  Do you have any commercial deals I can help you with?  Thanks Bye.”

Guess I should ask if they know anyone looking for a commercial loan too.  Any suggestions to make these calls more productive?  Thanks.”

 

My answer is below:

I am impressed that you are doing that at least.  Most people won’t do anything to move the ball forward.  To yield great fruit from cold-calling, it takes time.  After your initial call, you need to follow up after you e-mail the info and alternate mailing and calls until you have build awareness.  Now sheer numbers says you will get some short term deals if you make enough calls but to yield continuous fruit, takes time.  We are in an era where no one trusts anyone and even though the people have a need for your service, they don’t know you.  It takes time.

THERE IS A BETTER WAY!!!   The quickest way to make cash though is your existing database.  You mother knows an accountant – have you called him?  “Hi John, this is Brian, Evelyn’s son. Just calling to let you know I close commercial loans and see if you have any clients who own a business and might need some cash?”  That guy is probably 10 times more likely to refer someone because there is a link – Evelyn.  Same goes with everyone in your database – Realtors, clients, past and present customers, the dentist who cleans your teeth.

For some reason, I will never know, but people would rather call on strangers then call on friends yet you are fishing in a pond that is mediocre at best when you do that instead of fishing in a pond full of bass.   Every single person you know also knows an accountant, a financial advisor, a Realtor, and a small business owner.  All you have to do is call them and ask for referrals.  Then call those referrals mentioning the link, “I helped John close on his refinance” and then ask for the business.  Far easier, far quicker, far more productive….

Let me put it a different way, if you want fast results – stop cold-calling, start warm-calling!!!!  The difference is night and day!  Always, always, always start with your database and go DEEP with that base – everyone that client knows is a potential referral source or deal.

That is the quickest way to make it happen!

Have a great week,

Brian Peart

P.S.  The Commercialhotline.net site is an awesome site (www.commercialhotline.net).  It has training, conference calls, and can help you place that commercial deal with our LIVE program finder.  It is just $199 a month, cancel anytime.  Net Branches get it for free for as long as they are a branch!  That is a $2,400 a year value – free every year!  Please remember, I will be closing off the net branch opportunity to new branches after Sept. 30th.  There is a discount going on until the end of August and it will be full price in September.  If you have been following our growth and are interested, now is the time to decide whether you want to move forward in this exciting arena or not.  Commercial is exciting – the opportunities are huge!  Will you join me?  Call Seth Parr today to join at 866-355-1244 ext. 2243 or e-mail him at commercialseth@gmail.com.