You'd be hard-pressed to find anybody who truly enjoys cold calling in commercial real estate (or any industry, really). Salespeople aren't thrilled about spending their days calling random people, and those on the receiving end don't enjoy being interrupted by unrequested and unwanted sales calls. Yet, cold calling is still a tried and true sales prospecting technique. There are, however, better ways to find prospects.
Warm calling and data-driven sales prospecting techniques provide sales professionals with a more human-centric and smart way to find prospects and start conversations. This leads to better reception and improved results when used consistently.
Intrigued? Good. We'll explain what warm calling is and the difference between traditional cold calling vs warm calling. We'll explore alternative prospecting tactics that will help you say your own goodbyes to cold calls, hang-ups, and time-wasting conversations.
What is Warm Calling?
Warm calling is a sales prospecting technique that involves calling potential customers who have shown some level of interest or connection with your company or the goods/services that you offer.
Unlike cold calling, where sales representatives contact individuals without prior engagement, warm calling focuses on reaching out to prospects who have interacted with your company in some way.
These interactions range from requesting information from a website to email exchanges and social media interactions. These initial events help establish a foundation of familiarity and trust that makes the recipient more open to a conversation.
Examples of triggers for warm calls could be when someone:
Completes a fill form on your website
Asks a question or posts a comment on your Facebook for Business page
Visits your booth at an expo or industry event
Downloads gated content from your website
Buys something from you (opportunity for upsells and reengagement)
Signs up for a newsletter you publish
Refers another potential customer to you for a lead
| Cold Calling | Warm Calling |
Type of sales call | Unexpected | Anticipated (or at least invited) |
Stage of customer journey | Very early, awareness-level | Mid-stage, interest-level |
Chance of conversation | Low | Medium |
Rejection risk | High | Low to medium |
Purpose of call | Introduction | Follow-up, build rapport |
Relationship | Non-existent | Some history of interaction |
Warm calling is not necessarily better (or worse) than cold calling. Cold calling can be described as casting a wide net and hoping to catch a few big fish, all the while knowing you'll also drag in a little seaweed and garbage. Warm calling uses a specific bait to target a specific type of fish; if it's the right size, it's a keeper, but if it's too small, you might throw it back until it matures!
Tips for Effective Warm Calling
Research and preparation: Before calling, research the prospect and their organization. Biscred's customers use our platform, for example, to find prospects who align with their sales goals. They're able to filter based on geography, asset type, size, and a slew of other criteria. This helps them tailor their conversations and demonstrate their expertise, increasing their chances of establishing a relationship that can lead to sales.
Leverage a CRM with actionable data: Sales pros and business development reps use CRM systems to track prospects and conversions and the conversations they have. The best CRMs provide actionable data and insights. Salesforce, Zoho, and HubSpot are three well-known CRM tools, but there are dozens of options to choose from. They track previous interactions between the prospects and your company, and some use data to predict prospects' interests, challenges, and buying habits.
Create talking points: Prepare a list of talking points or use email templates to guide the conversation and ensure key points are covered. This isn't a script; it's simply a list of details you want to discuss. Some details may apply to any prospect, but this type of smart prospecting includes specific details about your prospect. This establishes rapport and shows the prospect you've done your homework.
Keep it brief: Any unrequested phone call is an interruption, so keep your call short and to the point. Let the prospect know you value their time and that you'll keep it brief. This can reduce resistance and lead to a more productive conversation. Your goal is to have a short, friendly call so you can follow up with email and future conversations.
Establish rapport and build trust: Acknowledge the prospect's connection with your company; tell them how you found them. This helps establish rapport and shows that you value their attention and respect them. Use this tactic cautiously because it can be unsettling. For instance, telling someone you're calling them because they commented on a social media post 5 seconds ago ... may be seen as creepy. Consider setting up email automations to break the ice, which brings us to our next tip ...
Use your CRM to set up automated workflows: Many CRMs include the ability to automate email and text messages, based on triggers that you establish. For example, if someone visits your site and opts in for a discount code, your automated workflow can email them within the next 24 hours asking them if they have any questions. Some CRM automations can be very sophisticated and when they're powered with AI, they can be extremely efficient at helping your sales team convert prospects to leads.
Focus on value and benefits: Emphasize the value and benefits your company brings to the table and articulate how your solution addresses their specific pain points. You can offer relevant case studies or success stories to showcase real-world results and build credibility. This also gives you a great reason to follow up with an email.
Actively listen and customize your approach: Practice active listening during the call to better understand the prospect's unique challenges and requirements. Tailor your pitch accordingly, highlighting the benefits that resonate with their situation. This personalized approach increases the chances of capturing their interest and moving the conversation forward.
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