Limitations on Cold Call Lead Generation Methods

We think it makes sense to thoroughly qualify prospects prior to proceeding on sales campaigns. The rationale here is that sales campaigns and, in fact, outbound telemarketing programs to develop sales leads may consume an inordinate of time and effort on opportunities that, once qualified, prove to be limited and even non existent. Therefore, better to get most of the qualification work done as soon as possible.

Our method for sales lead generation is to develop a prospect profile and qualifier questionnaire for each of our clients. Armed with these two critically important bits of information we can then explore a market for sales opportunities. Our first pass following an introductory telephone call (where we gain permission from a prospect to engage in a discussion about how a condition or product is used at his/her organization) is to schedule an exploratory call where the entire subject will be a discussion of the prospect’s organization. We do not endeavor to proceed into any presentation of our client’s product at this very early stage in a sales lead development process.

But we were surprised recently when we presented individuals at prospect financial services companies with our invitation to learn further about how xyz product is used. Our invitations were respectfully declined. Facts are that these financial services companies (which are all heavily regulated here in the United States) had limited the rights of these individuals to discuss company specific information with otherwise unknown contacts (meaning our telemarketers). Our team could present information, but the parties on the other end of the telephone line were largely constrained as regards the information they could share with us.

We think that restricting employees to only approved topics of discussion with unknown third parties will grow wider spread across enterprise businesses in the near future. For this reason we place a greater emphasis on the mapping phase of our lead development efforts. Through mapping we have an opportunity to unearth a trust worthy and familiar contact with whom we can engage without the level of restriction enforced over other conversations where our representatives are unknown entities. Often referred to as a “Yoda” or “bird dog” these familiar contacts have become that much more useful to our efforts to utilize direct marketing efforts to develop sales quality leads. Mapping calls still fall within the realm of cold calls, but the intent and process for these activities differs substantially from other types of cold calling activities.

If you offer innovative software products to financial businesses and are planning direct marketing activities, then you may want to speak with us. then please contact Ira Michael Blonder at +1 631-673-2929 to further a discussion. You may also email Mike at imblonder@imbenterprises.com.

© IMB Enterprises, Inc. & Ira Michael Blonder, 2012 All Rights Reserved

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