Prospecting And Cold Calling

Cold calling to generate new business can be uncomfortable, to say the least. It can be defined as unfriendly, inhospitable and plain unsociable at times. Perhaps, like me, you have never met a prospective dealer who has been waiting his whole career for you and your products to walk through his door. In fact, we oftentimes are met with the proverbial “I’m all set” when we enter the business and explain why we’re there. Well, think about this for a moment--someone is going to get new business, why not you?

It is often recommended that the first place to start is at the beginning. And that might be true. However, in this case, you may want to start at the end. What do you want to happen?

Set your objective and define exactly what you want to come of your efforts. Draft a workable plan and make a commitment to it. Sounds elementary, doesn’t it? Yet, believe it or not, there are still many who go to work every day and “hope” things will change for the better.

As simple as it might sound, and it is, you need to be specific and write out your goals. It’s not enough to say, “I want to add 20 dealerships to my business this year.” Instead, get specific with the goal. I want to sign up 20 new dealerships and drive gross revenue from that to $200,000.00. How many presentations will have to be made, how much time do I have to spend in each store, how can I install as much of my product portfolio in the store to make it all come together? Break everything down and start to understand your ratios.

If you obtained 25 new prospects in five weeks, what would that do for your agency business? It’s easy. If you call on one new prospect Monday through Friday while you are out servicing existing accounts, you will have amassed five new contacts that week. It might start with meeting the service manager, finance manager or any other member of the management team.

Begin collecting information on what is going on in the store now and the value you can bring to the business. The next week you simply duplicate your week one efforts, visit your week one contacts and begin to broaden and meet more people in the dealership.

If you continue these efforts and remember to follow up with the stores you have already been to, in just five weeks, you will have put 25 new prospects in the pipeline of opportunity. It’s not easy and will require a commitment to ensure that you stay on schedule without neglecting your current client base. However, if done, it can be the beginning to expanding your agency business.

Now, discouragement and assumption will ruin what you are attempting to achieve, so outline some of the hindering forces that have been standing in the way of your goal. The dealership has been with one company forever and will never change. Our prices are higher than the competition. The owner went to school with the existing agent. Does any of this sound familiar? We can literally talk ourselves out of going into a business and finding out the facts for ourselves.

Don’t assume anything about prospective business opportunities until you find out firsthand. It is very important to find out how their business works, where the improvements can come from and how you can play that role. Focus on the opportunity you really have. My territory has good potential, I bring value and benefits to the dealer, I have a strong desire to build and achieve a valuable business.

When you get the opportunity to make a presentation in front of the decision-makers, you want to be as prepared as possible to show them that you understand their business. In order to grow from referrals, you first need to prospect.

But let’s address what to do if a dealer won’t even come out of his office to meet you. It is true that some dealers are too busy to engage every vendor who arrives at their store.

Ask yourself a simple question—“What business owner wouldn’t come out to meet a customer? Where are you doing business? Where are you getting your oil changed? Where are you getting estimates for auto repairs? Reciprocity means two ways! If I am doing business in your establishment, why wouldn’t you take the time to meet me and give me an opportunity to create value for your business?

It’s hard to turn down a request for an appointment when you’re spending money in their business. But, don’t despair if the owner is out when you come in that day. You always have the service manager to discuss the merits of a pre-paid maintenance program, paint less dent repair or any of the other products that help fixed operations grow.

Opportunity is always around; we just have to find where it’s hiding.

Lastly, whenever you meet new people, it never fails to send thank you cards acknowledging their help or to leave pens or other inexpensive tokens of appreciation. It goes a long way in building rapport and, ultimately, credibility.

Good luck and good hunting.