Do you want to know “is cold calling dead“? The short answer is no.
Cold Calling is Not Dead
According to leading sales experts cold calling is not dead. Cold calling is considered one of the top prospecting techniques in sales to date (second to emailing). A study done by the Rain Sales Training Group explains:
- 71% of people want to hear from a sales person when they have a need.
- 82% of people who accept a phone call said they would accept a meeting.
- 41% of top sales people said using outbound phone calls is the #1 prospecting attempt for their business.
As a financial advisor this is still a viable avenue to take.
Why Cold Calling Still Works
Cold calling can be crucial to building a reputable relationship with potential clients.
Talking directly to a prospect creates an immediate personal connection that you honestly can’t get through an e-mail or social media.
Cold calling also gives you the advantage of customizing the message as you go.
Most cold callers have a script and a certain guideline that they go by, but a good cold caller can pick up on what the person on the other end of the phone is saying and their overall tone of voice.
Which in turn makes it easier to tailor their pitch based off of the individual on the other line.
Cold calling creates a good reputation and immediate feedback.
E-mail or messaging on social media can take hours or even days to get a response. An immediate response saves time for everyone and you will always get a direct and fast response over the phone.
Cold calling is also a great way to give a potential client key knowledge of your services which will prompt them to research your company right away.
With that being said, only a small percentage of financial advisors who actually cold call have good phone prospecting skills.
Is Cold Calling Efficient for A Financial Advisor?
Time is money and cold calling is time consuming.
Cold calling alone requires you to make upwards of 80 phone calls per day in order to affectively land (on average) 4 solid meetings with potential clients, depending on your telephone prospecting skills.
According to Zippia an average of 39% of sales professionals reach C-level executives on the first cold call, followed by 72% for the second call and 93% for the third.
Not to mention you will have 5-10 minutes during the phone call to prove your value to each potential client. That is 13.5 hours of your time per day cold calling.
Cold calling still works and is very alive today, but doing it right and efficiently can be frustrating and cause you to give up quickly.
Plus hiring an internal cold caller is a gamble.
Hiring, managing and paying internal cold callers is also time consuming and does not bring in a reasonable ROI.
Lucky for you, there is a better option where you can save money by saving time while effectively increasing client base and revenue stream.
BluStar Connections is the Key to Getting More Clients through Cold Calling
The ultimate program for financial advisors looking to gain more clients and grow their business.
With over 60 callers and counting, we help companies find Retirement Specialists in their region in order to get them the help they need on their Group Retirement Plans. We make this vision a reality by partnering with Retirement Specialists like you across the country that hold the same values as us.
Our Program is a new and improved version of an old model.
We provide guarantees unparalleled in our industry and assist you with obtaining new clients who will realize value by utilizing you as their trusted financial advisor.
BluStar helps supplement the prospecting hours you would have to put forward in order to reach a qualified meeting. Its like having your own call center at a fraction of the cost.
Not only will you have professional callers pounding the phones for you everyday, you will also be provided with powerful support like:
- a ready to use guide to assist with fee disclosures
- and a straightforward guide to make your processes more efficient
Those two guides alone will help you land your next client effortlessly after our team of callers gets you through the door.
Ultimately, BluStar Connections is a smart investment that helps supplement your marketing efforts and assists with a proven process that actually works.
To discuss the program in detail head over to Calendly by clicking here to schedule a quick 15 minute meeting with one of the partners today.
