Picking the low-hanging fruit

Rough Notes, Aug 2002 by Cecil, Jim

CLIENT NURTURING

Warming up the cold call

To use my favorite metaphor, imagine your marketplace as an orchard full of fruit trees. Your CSRs and marketing people are the orchard tenders-planting, weeding, feeding and watering the trees. When the fruit is ripe, they call in the specialists, the fruit pickers-your salespeople, reps, agents or distributors. If enough seeds were planted (marketing) and the orchard was well-tended (faithful followup), there will be a bountiful crop of fruit to be picked (sales).

..."That's all well and good," the caller says, sounding exasperated. "I've waited too long and I need some business now. No time for much courtship and cultivating. Tell me how you go about cold calling these days."

What a great question. What DO you say on a cold call? There are probably a hundred books on this very topic and most of them end up telling us "if we could just act a little more like an extrovert, we'd love cold calls and get filthy rich." That may be true, but I doubt most prospects or customers prefer them to this day.

I know some people actually enjoy cold calling, but they are a rare breed. Even more rare is the "natural" cold caller who easily builds deep and lasting relationships with the prospects discovered. (As ye sow ... )

My goal is to provide tools to encourage and assist insurance professionals to identify, individualize, interact with, and integrate what is learned into ongoing intelligent reasons to stay in touch-to educate, communicate and add value long enough to gain marketing preeminence in their mind, in your specific segment of the risk industry.

If cold calling is truly your preferred prospecting method, why not at least create a "wave" of three or four nurture letters, then follow up with a personal phone call from the agent to explore interest. Identify by size and SIC code those businesses most likely to encounter severe premium shock in the coming years and explore them first.

The "gentle touch" approach is better than a raw, unexpected telephone or drop-in cold call because it allows ideal prospects to get to know you before investing time with you. It allows them to explore what you would be like to work with before making any commitment or investment of money.

All that said, if a flat-out cold call is the way it's going to be, plan a personal strategy for emotional states-management. Cold calling can be one of the greatest communications lessons ever earned. Actually you may be quite successful. The odds are in your favor.

Remember that the average P-C account turnover is approximately every five to seven years. Statistically that means 15%-20% of the people you approach will actually change agents this year. One out of five. Pretty good odds so far. The opportunities are clearly out there, but you will have to dig for them like never before. Using "interruption marketing" tactics-time honored though they may be-- pretty consistently will be treated the way any rude interruption approach is almost always treated-rudely.

Initially, plan to speak frequently with voice mail; and you'd better make your "elevator speech" crisp, brief and "them-- serving" if you expect a call back.

Use a calm, sincere speaking voice. This is not the time to demonstrate your high energy, enthusiasm strategy. Rewrite your script until you can read it comfortably. Then every day, rehearse out loud-your voice, your attitude and your words. Reread the script in conversational tones at least 12 times in a row to exercise both your mouth muscles and your memory as well. With practice, the words will feel and sound comfortable, believable and natural. Begin to capture responses that come up frequently and record ways you handled it that kept the relationship on track.

Voice-Mail/Phone Script Example:

"Mr./Ms. Johnson, my name is Bob Brown at Western Business Insurance. The reason I have been writing you, and for this call today, is to explore your interest in our unique approach to Insurance 'premium containment' we call 'Winning Premium Battles,' and I'd love the chance to show it to you.

"Most new clients tell us there are usually three reasons why they decided to review their business insurance program:

1. Catastrophic claim denial

2. Unchallenged and unexplained premium spikes

3. A general, vague feeling of indifference on the part of an agent or agency

"If your business is experiencing a reason to review this year, I'll be happy to coordinate our initial, and obviously complimentary, meeting. In any event, I wanted to introduce myself personally. You can reach me on my personal cell number (555) 555-5575."

Remember the call must not sound like you are anxious to make a sale. It is merely a natural step in an emerging relationship. Low-hanging fruit may well appear suddenly in a conversation, but it must feel like their idea to introduce this new level of semi-commitment.

Live Connection:

"Mr./Ms. Johnson, my name is Bob Brown from Western Business Insurance in ______ . The reason I have been writing you, and for my call today, is to introduce myself and explore your potential interest in our unique approach to Business Insurance 'premium containment.' Is this a good time for us to talk or should I schedule a better time? ("Yes" or "No")