b2b selling when no one wants to speak on the phone
- Thread starter gbpathfinderfx
- Start date
The broad answer is to target, do your research and create a proposition that will appeal to them.
In common with many others on here (I guess), I get about 3 dull, scripted forex cold calls a week - this is both an opportunity and a challenge fir you
The opportunity is that its pretty easy to be better than them.
The challenge that anyone with any experience will assume your offer is at best shabby, at worst a scam
In common with many others on here (I guess), I get about 3 dull, scripted forex cold calls a week - this is both an opportunity and a challenge fir you
The opportunity is that its pretty easy to be better than them.
The challenge that anyone with any experience will assume your offer is at best shabby, at worst a scam
Upvote
0
Not suggesting you do this. It’s just an illustration of trying to be creative…
In ye good olde days of selling I found the best approach to getting to a senior manager was a personalised letter (personalised to the business and the individual) followed by a phone call. The problem was … how do you get the letter past the secretary/PA and into the ‘read’ pile ?
Sometimes, we used a Post Office (as it was then) First Day Cover. That’s an envelope with a complete range of newly issued stamps – from low to high value. As I recall, in those days it cost about a fiver. The envelope was then addressed to the individual and hand-written.
First Day Covers are collectors items so the secretary/PA wouldn’t dare open (and thereby destroy) it to see the letter inside. The senior manger would open it and read the letter. He (it was almost always ‘he’ then) would inevitably remember it when the follow-up call came a couple of days later.
You couldn’t do it for a ‘mass mailing’ of course, but for high value contacts it worked a treat.
The point here is that as Mark says, everyone gets countless emails and sales calls every week. You need to be different to stand out from the pack.
As an aside, I loath those sales calls that start ‘how are you today?’. My stock answer is ‘very busy and in a bad mood’ just to see how they handle it.
Upvote
0
@gbpathfinderfx - how are you identifying prospective businesses?
What are you offering that’s going to make them moving from their tried and tested FX provider to a complete unknown?
What are you offering that’s going to make them moving from their tried and tested FX provider to a complete unknown?
Upvote
0
Are you using Social Media? Twitter and LinkedIn make it easier to connect with the right people. Follow them and show an interest in what they like without trying to sell. Make sure your own profiles tell your story, who you are and what you do well.
People like people who like what they like. Especially when it's personal.
Upvote
0
I’m not surprised, that is potentially the weakest cold call opening line ever thought up, totally insincere since you know they do not give a damn, it shows a untrained telesales person.
I used to do a lot of cold calls and the best way to any success in any quantity is a permission led line, you need the prospect to agree to the call.
Upvote
0
My response is "Who are you?", and their next sentence determines whether I hang up or not. 9 times out of 10, it does.
Upvote
0
I know this sounds like a crazy idea but... I use this thing called 'social.' I post stuff that helps prospective customers. They watch it, think it's great and then... contact me.
So you could post vids giving advice about Forex trading. What works, what doesn't. Biggest successes etc...
Just to show you what one of mine looks like...
www.linkedin.com
So you could post vids giving advice about Forex trading. What works, what doesn't. Biggest successes etc...
Just to show you what one of mine looks like...
Sign Up | LinkedIn
500 million+ members | Manage your professional identity. Build and engage with your professional network. Access knowledge, insights and opportunities.
Upvote
0
- Original Poster
- #12
I run a b2b currency exchange business, the market is competitive and prospective clients often cant be reached by phone, can anyone suggest a creative way to get to key decision makers that isnt creepy!
out of interest what would be the answer the 1 time in ten you don't hang up?
Upvote
0
Nothing would interest me in Forex - I'm not your target customer
More generally, if a salesman comes across as genuine and interested, I'll give them the time of day.
If its something of potential interest, now or in the future I'll ask them to send information by email and suggest a timescale for follow up. It's astonishing how many don't send that email or follow up.
If they are boring, scripted or try silly closes they will be gone
More generally, if a salesman comes across as genuine and interested, I'll give them the time of day.
If its something of potential interest, now or in the future I'll ask them to send information by email and suggest a timescale for follow up. It's astonishing how many don't send that email or follow up.
If they are boring, scripted or try silly closes they will be gone
Upvote
0
That doesn’t answer the question. How are you identifying prospective clients?
I deal a lot with overseas clients and have never bothered with (or been interested in) forex. So if I’m not your target client, who is?
Upvote
0
I'm increasingly bewildered by this thread.
You appear to have set up what is essentially a sales organisation without even a rudimentary knowledge of selling.
A few simple, starter question
- what is your sales environment, (eg relationship-building vs quick close and move on)
- what is your specific goal on any given call?
- what data source are you using? How clean is it?
- how do you recruit & train sales people?
You appear to have set up what is essentially a sales organisation without even a rudimentary knowledge of selling.
A few simple, starter question
- what is your sales environment, (eg relationship-building vs quick close and move on)
- what is your specific goal on any given call?
- what data source are you using? How clean is it?
- how do you recruit & train sales people?
Upvote
0
- Original Poster
- #18
Hi Mark,
I do have a fair bit of sales experience, but I find its always good to try and improve because like golf you never truly master the art!
Our model revolves around building long standing relationships with SME's mainly UK based with whom we can add value too.
The goal of the initial call is to qualify a prospective client based on the research we have conducted and obviously try and get some buy in from the decision maker to look closer at our offering, rarely is it a one call close usually it requires several calls and possibly a meeting before we can close a client.
Ideally we could market alone and clients would come to us but we have to research/network and prospect proactively rather than wait for the phone to ring.
I guess what i'm looking for some insight into is how to do things a little differently when it comes specifically to the first contact, rather than a though evaluation of the sales operation.
Thanks for taking the time to reply
Upvote
0
- Original Poster
- #19
Basically anyone that within the course of their business either needs to buy another currency, or receives it - maybe you are buying an overseas property in Spain, importing machinery from Poland or have clients that might prefer to pay you in euros. Id be happy to have a chat and see if you might be missing an opportunity with your client base
Upvote
0
Or I just make and take the payment using wise or PayPal or whatever.
I understand what you do, but for many it’s not worth the time to set up an account with you to do the one time exchange.
How would you even identify a business that might at some point in the future need do an overseas transaction?
Upvote
0
- Original Poster
- #25
For small amounts the difference is not enough to worry about, we are looking for large importers primarily that deal in millions and for whom each fraction of a % makes a impact. btw someone sent me 2k USD recently on paypal and the fees where just astronomical even on that amount
Upvote
0
Which brings us back to the same question. How are you identifying potential clients?
Large importers already have FX arrangements. They aren’t going to answer your call, email or anything else.
As to PayPal the fees are independent of the currency. Why did you accept a PayPal payment? Surely you could have used your fx systems to transfer the money.
Large importers already have FX arrangements. They aren’t going to answer your call, email or anything else.
As to PayPal the fees are independent of the currency. Why did you accept a PayPal payment? Surely you could have used your fx systems to transfer the money.
Upvote
0
- Original Poster
- #27
When making cold contact we research individual firms by sector.
Large importers often do have arrangements in place but the only way to see if we can add value is by speaking with the CFO, hence my original question what are some novel ways to try and reach said person?
I wasn't expecting a PayPal payment, otherwise yes I would have rejected that.
Large importers often do have arrangements in place but the only way to see if we can add value is by speaking with the CFO, hence my original question what are some novel ways to try and reach said person?
I wasn't expecting a PayPal payment, otherwise yes I would have rejected that.
Upvote
0
I asked a good friend who used to trade all over the world. He used an FX broker but it took him a long time to find one he could trust.
Maybe you just need to be the name everyone sees on LinkedIn, business forums, trade shows, YouTube and anywhere else a CFO hangs out.
Become the expert everyone turns to. The conversations will result from your expertise.
Maybe you just need to be the name everyone sees on LinkedIn, business forums, trade shows, YouTube and anywhere else a CFO hangs out.
Become the expert everyone turns to. The conversations will result from your expertise.
Upvote
0
The most important question to answer first.
Have yu tried networking or fishing where your fish swim?
Upvote
0
You are giving all the right answers, but still aren't getting it right.
The cynic in me thinks you might be making it up as you go along - not in itself a bad thing, if you are actually learning & changing things as you go.
Assuming I'm wrong, and taking this scenario.
- You have profiled your target prospect.
- You have identified the (most likely) decision-maker
- You have common ground in that you both have an appreciation of currency / fluctuations / challenges they might have etc
- You have a USP(?)
- You are clear that your initial call is to sell the appointment not to sell Forex
So the problem has to lie in your opening statement or the tone of your approach.
Upvote
0
Assuming you've got the targeting done right, here's how I tackle the calling portion.
Calling is always challenging, you may find you cannot get through to the right people and it will take several attempts. The response you get hinges on the first thing you say. I have always taken a 'Value First' approach, which means I genuinely take the time to investigate how I will add value to this specific business and/or person I am calling. My approach:
My goal is always to setup an appointment, not to 'sell' something. I want to see whether my hypothesis of adding value to their business is correct.
4MAT - developing a 4 part message
- WHY (why are you calling?):
I have found you online, it looks like I can help your business so I want to setup a call to explore it further.
- WHAT (what are the facts?)
Explain exactly why you will add value to their business. This has to be specific to them! It can include observations, things you've read online, perhaps stories of what you've done for people like them.
- HOW (how will it work for them?)
Explain how your service works.
- WHAT IF (what will they gain?)
Essentially the 'pay off', you're future casting what they will gain from working with you- which sounds like a monetary gain.
In practice it is not just about calling, I use a variety of channels (email, social, phone, etc.) to reach people and alternate my message each time to I don't sound like a broken record. Since I'm fully focused on adding value rather than selling my stuff, I usually get positive responses.
Calling is always challenging, you may find you cannot get through to the right people and it will take several attempts. The response you get hinges on the first thing you say. I have always taken a 'Value First' approach, which means I genuinely take the time to investigate how I will add value to this specific business and/or person I am calling. My approach:
My goal is always to setup an appointment, not to 'sell' something. I want to see whether my hypothesis of adding value to their business is correct.
4MAT - developing a 4 part message
- WHY (why are you calling?):
I have found you online, it looks like I can help your business so I want to setup a call to explore it further.
- WHAT (what are the facts?)
Explain exactly why you will add value to their business. This has to be specific to them! It can include observations, things you've read online, perhaps stories of what you've done for people like them.
- HOW (how will it work for them?)
Explain how your service works.
- WHAT IF (what will they gain?)
Essentially the 'pay off', you're future casting what they will gain from working with you- which sounds like a monetary gain.
In practice it is not just about calling, I use a variety of channels (email, social, phone, etc.) to reach people and alternate my message each time to I don't sound like a broken record. Since I'm fully focused on adding value rather than selling my stuff, I usually get positive responses.
Upvote
0
Upvote
0
That's exactly right. There are doubtless many approaches that work but the callers I favour are the (rare) ones who start with something like....
"Good morning. This is (Name) from (Company). Do you have a couple of minutes to talk about (subject)?"
Upvote
0
I think you're hitting the right point. A lot of companies today have a general message, they approach prospects with the same lines- you have heard it all before. My generic example was indeed very.... generic.
Very few companies and sales people nowadays take the time to research how they will help a particular prospect. Develop a hypothesis about how you're going to impact someone's business, have a genuine reason to call and bring something useful to the table. It takes time, practice and preparation. In the end no one has time for generic calls, but if you get called by someone who's going to solve an issue for you and streamline you business, that's a different story.
Many years ago when I was selling tech research services to universities, I found out a particular university wanted to maximise the funds going into their research programmes. I called the Head of IT and explained we'd be able to minimise cost of operations and IT, decreasing overhead and increasing spending on research. It was spot on and solved a genuine issue they were trying to solve.
Upvote
0
Latest Articles
-
When the Algorithm Gets It Wrong: What eBay's AI Moderation Problem Tells Us About Platform RiskA thread appeared on UKBF this week that, on the surface, looks like a...- Ozzy
- Updated:
-
Should you crowdfund? A framework for UK founders in 2026Three articles into a series on what crowdfunding actually costs, the...
- Ozzy
- Updated:
-
The polls, the reframing, and the billion dollarsHow three letters from the early years of Star Citizen's development...
- Ozzy
- Updated:
-
The values trap: what the Punks actually ownedWhy BrewDog's Equity for Punks investors were structurally locked out...
- Ozzy
- Updated:
-
When belief is the business modelWhat BrewDog's collapse and Star Citizen's billion-dollar climb are...
- Ozzy
- Updated:
