If you’re cold calling prospects, you’ll probably hear the word “no” a lot. It’s what you do after you hear the word no that might net you a sale. Remember, statistics suggest that 81% of sales take five or more contacts to close. In business communication, no can have several different meanings:
No, never.
Not right now.
I’m busy and want to get off the phone.
I don’t want to think about it right now.
Convince me.
If your prospect says no, there are a few steps you can write into your sales script to help turn things around.
1. Avoid Rebuttals.
A prospect who says no expects you to argue. He or she is ready to become defensive and swing into “adversary” mode. As far as sales strategy goes, having your prospect think of you as “the enemy” is the very last thing you need.
2. Empathize.
Instead of arguing with your prospect, agree with him or her. For instance, your sales script might include a reply like, “Thank you for your honesty. I understand that changing suppliers can be a hassle, and that’s not something you’re ready to deal with.”
3. Keep the Prospect Talking
Continuing the conversation after “no” allows the two of you to get to know each other a little better. This turns cold calling into warm calling. Make the prospect feel like an expert by asking questions about his or her company and about his or her reactions to your call. “Is there any piece of information I could have given you that would have made it easier to consider using our services?” Or, “I understand ABC Company, who currently supplies your employee insurance, will be raising their rates by 15% next year. Have you thought about how you’re going to handle that?”
4. Follow up.
It should be part of your sales strategy to follow up with prospects at least once every three months. Make sure your follow up is meaningful, however. Don’t endlessly repeat the same selling points you made in the first cold call. Instead, offer new written materials or information about your company. “Our CEO was recently named local business woman of the year.”
5. Be Aware of the Do Not Call List
Check the Do Not Call List before making contact with a reluctant prospect. If he or she is on the list, do not make follow up phone calls or your company could face stiff fines. Instead, consider making contact another way, such as through email or direct mail.
About Bill Rice