Need a Funder or Vendor? START HERE

Page 1 of 2 12 LastLast
Results 1 to 25 of 47
  1. #1
    Senior Member Reputation points: 208
    Join Date
    May 2020
    Posts
    105

    How many cold calls per day?

    Just curious as to how many Cold calls you do per day, as a sales rep?

  2. #2
    Senior Member Reputation points: 337045
    Join Date
    Mar 2015
    Location
    Rock Ridge
    Posts
    3,453

    Quote Originally Posted by Iscibibi153 View Post
    Just curious as to how many Cold calls you do per day, as a sales rep?
    On average, at least 25. They are very targeted to specific industries and size of company.
    Hedley Lamarr......That's Hedley

  3. #3
    Quote Originally Posted by Iscibibi153 View Post
    Just curious as to how many Cold calls you do per day, as a sales rep?
    On average, around 40. I usually set up a time for when I'm not working on active pipeline or lead lists and call it a power hour. I pick a specific industry, a specific geographic location and start dialing. I'm an ISO but I try to discipline myself to operate as if I still work for a big lender and follow those best practices.
    Last edited by IndustryVet; 09-24-2020 at 08:39 AM.

  4. #4
    Senior Member Reputation points: 18943
    Join Date
    Feb 2019
    Posts
    124

    depends on the size of your operation.. large ops tend to buy more cheaper leads for the masses when smaller tend to buy less "better" more expensive. in the trenches with a dialer ive seen people max 1000 calls per day and average 1-2 submissions per day. grinders.. ratios are more important imo. out of those thousand calls they may have only connected 250 times and only spoken to so many business owners.. about 6 apps sent out per day to the grinders too

  5. #5
    Senior Member Reputation points: 19024
    Join Date
    Feb 2016
    Posts
    236

    Its not about quantity. Its about quality. Id take someone who makes 10 calls a day and gets 3 subs vs someone who makes 100 and gets 1 sub.

  6. #6
    Senior Member Reputation points: 46943 JasonBishop's Avatar
    Join Date
    Jun 2018
    Location
    Orlando, FL
    Posts
    191

    For the Cold Callers, List Loaders here is some perspective. This guy Marshall nails this one.
    https://www.instagram.com/tv/CFe8jEB...d=y5ik5gupyezz

  7. #7
    Work until you reach your goals. It may take 100 dials, it may take 500 dials. If you want to succeed, don't quit until you reach your goal. You can be calling a list that reaches the business owners directly or you may be calling b2b and speaking with secretaries all day long. The best thing that you can do when cold calling is keep good notes and create your own lead list of businesses that you spoke with and gained information from. Even if it's just a quick e-mail and a hello, it's going to be a much smoother conversation the next time.

  8. #8
    Quote Originally Posted by JasonBishop View Post
    For the Cold Callers, List Loaders here is some perspective. This guy Marshall nails this one.
    https://www.instagram.com/tv/CFe8jEB...d=y5ik5gupyezz
    This was great!

  9. #9
    Senior Member Reputation points: 4118
    Join Date
    Jan 2020
    Location
    Brooklyn, New York
    Posts
    122

    400 calls a day - 10 apps out - 5 apps in - 2 declines - 3 offers - 2 contracts out - 1 deal dies the other funds - rinse and repeat day in and day out - 7pm is when people leave the office.... Thats when you have to stay and call the other time zoned leads you have. Saturday - follow up with all the other apps you sent out and pre close for the week ahead - Sunday - Listen to your recorded calls to see what you liked and what worked best.

    PS - I agree with FCG - quality vs quantity is always the best route!
    Clark Sica
    Business Development Manager
    Lending Valley, Inc.
    Office Line: 347-478-5161
    Mobile Line:347-536-0528
    Fax: 1-888-850-1971
    www.LendingValley.com

  10. #10
    Banned Reputation points: 11251
    Join Date
    Jan 2017
    Location
    New York, NY
    Posts
    59

    If you don't mind asking how are you guys making calls? Dialer, mobiles, regular desk phones etc?

  11. #11
    Senior Member Reputation points: 337045
    Join Date
    Mar 2015
    Location
    Rock Ridge
    Posts
    3,453

    Quote Originally Posted by WCC_NYC View Post
    If you don't mind asking how are you guys making calls? Dialer, mobiles, regular desk phones etc?
    Roger,

    Old school.... I do some research upfront on target companies to identify the decision makers. I call using a phone and follow up with email.

    Best,

    Kevin
    Hedley Lamarr......That's Hedley

  12. #12
    Quote Originally Posted by WCC_NYC View Post
    If you don't mind asking how are you guys making calls? Dialer, mobiles, regular desk phones etc?
    I use Five9 Dialer software to a desk phone, it integrates perfectly with Salesforce.

  13. #13
    Banned Reputation points: 11251
    Join Date
    Jan 2017
    Location
    New York, NY
    Posts
    59

    Quote Originally Posted by Kevin Henry-Seacoast View Post
    Roger,

    Old school.... I do some research upfront on target companies to identify the decision makers. I call using a phone and follow up with email.

    Best,

    Kevin
    Thanks Kevin

  14. #14
    Banned Reputation points: 11251
    Join Date
    Jan 2017
    Location
    New York, NY
    Posts
    59

    Quote Originally Posted by IndustryVet View Post
    I use Five9 Dialer software to a desk phone, it integrates perfectly with Salesforce.
    Very interesting IndustryVet having had worked in telecom in my previous lives, I am aware of both Five9 integration and Salesforce. It does work and two very good and reliable providers.


    We currently use Hupsot as our CRM and integrate it with RingCentral. Through API and Zapier integrations to track metrics we use PhoneBurner with Hubspot. We like it is because if we are not able to connect with a person on the other end we click a button and an automated email is sent along with an automated voicemail made.
    Last edited by WCC_NYC; 09-24-2020 at 04:29 PM.

  15. #15
    Quote Originally Posted by WCC_NYC View Post
    Very interesting IndustryVet having had worked in telecom in my previous lives, I am aware of both Five9 integration and Salesforce. It does work and two very good and reliable providers.


    We currently use Hupsot as our CRM and integrate it with RingCentral. Through API and Zapier integrations to track metrics we use PhoneBurner with Hubspot. We like it is because if we are not able to connect with a person on the other end we click a button and an automated email is sent along with an automated voicemail made.
    I'm a big fan of RingCentral as well. Never worked with Hubspot though for CRM. Automation= Proficiency!

  16. #16
    Senior Member Reputation points: 203054
    Join Date
    Jan 2014
    Posts
    1,361

    don't focus on amount of calls. you ca n make 500-1000 dials a day and nothing, you will end up burning yourself out. Instead of saying i'm going to make 500 calls today tell yourself i'm going to keep calling until I have 20 real conversations with merchants actual conversations not "do you need money, yes, okay send me your banks statements"...real conversations where you take the time to learn about their business and objectives going forward. Those turn into solid apps and you uncover more opportunity. 20 a day that's 100 a week. 400 a month. 30% of those turn into good apps, 120 apps, 30% of those will fund that's 36 units a month. Lets say average deal is about $50,000. That's how you fund almost 2m a month.

  17. #17
    Quote Originally Posted by Clark Sica View Post
    400 calls a day - 10 apps out - 5 apps in - 2 declines - 3 offers - 2 contracts out - 1 deal dies the other funds - rinse and repeat day in and day out - 7pm is when people leave the office.... Thats when you have to stay and call the other time zoned leads you have. Saturday - follow up with all the other apps you sent out and pre close for the week ahead - Sunday - Listen to your recorded calls to see what you liked and what worked best.

    PS - I agree with FCG - quality vs quantity is always the best route!

    This guy funds.

  18. #18
    Senior Member Reputation points: 4118
    Join Date
    Jan 2020
    Location
    Brooklyn, New York
    Posts
    122

    Quote Originally Posted by LeadBurner View Post
    This guy funds.
    You know it
    Clark Sica
    Business Development Manager
    Lending Valley, Inc.
    Office Line: 347-478-5161
    Mobile Line:347-536-0528
    Fax: 1-888-850-1971
    www.LendingValley.com

  19. #19
    Member Reputation points: 244
    Join Date
    Sep 2020
    Location
    Idaho
    Posts
    29

    have an omni channel software with an auto-dialer that's a beast... msg me if interested
    Jason
    j@tradenicely.com
    305-748-4416
    TradeNicely.com
    Best Deal for Your Debt in 48 Hours
    50% Lifetime Commissions for Intros to Lenders Who Are Ready to Sell

  20. #20
    Senior Member Reputation points: 8536
    Join Date
    Dec 2015
    Location
    Los Angeles, CA
    Posts
    121

    So many calls.

    I don't leave messages the first few calls to the record and just hunt for decision maker contacts. I am as direct as possible (use a script obviously) and want either a Yes or No answer; Yes is great, No is good too because I no longer need to spend time on that call and it frees my time up to find the merchant that needs my funds.

    Any "maybe" or call me "later" I'll dig in and start asking questions to try to qualify and get an application over the phone and send out a pre-filled DocuSign. If all else fails, I send out our welcome package and schedule a future discussion with a calendar notification AND MAKE SURE TO NOT MISS THE FOLLOW-UP!

    As the list gets narrowed down (not interested, not in service, DNC, Fax, endless menus, etc) I'll start spending a little more time leaving messages with GK's and building the list to continue to pull more leads until it dries up.

    All the "Not Interested" clients are recalled within 30 - 45 days and then every month until they either convert, submit, or tell us to stop calling. I found most times initially you either caught them on a bad day, they didn't like the agent that called, and 8 out of 10 times they will not even remember speaking to you if you only called once.

    A second voice really can help if it was the agent, but also continuing to follow-up and be familiar will eventually earn you an opportunity at the business if what you offer adds value (No max point crap - you need renewals).

    Sometimes I'll call all new records, up to 400, or I will call the same 100, 200, Etc. a few times in the day to see if they answer on the 2nd/3rd calls - The second method usually yields 1 SQL out of every 25 records for you to send an application too.

    I keep a tracker sheet that I tally every call so in real-time, and at the end of the day I can see all my metrics (reach rate, conversion, etc.) - If I don't like the metrics I calculate and switch things the next day to drive better results.

    My reps use Phoneburner to dial and helps me track their performance (I'll use it sometimes).

    Personally I prefer paper printouts of lead submissions, calling cards, and excel sheets while using a landline or softphone. I can't speak for everyone but for myself it helps me stay focused on the task and work through a pile of work easier if I have something that I can physically touch and can see get completed.

  21. #21
    Senior Member Reputation points: 301165
    Join Date
    Jun 2015
    Posts
    3,313

    Quote Originally Posted by Clark Sica View Post
    400 calls a day - 10 apps out - 5 apps in - 2 declines - 3 offers - 2 contracts out - 1 deal dies the other funds - rinse and repeat day in and day out - 7pm is when people leave the office.... Thats when you have to stay and call the other time zoned leads you have. Saturday - follow up with all the other apps you sent out and pre close for the week ahead - Sunday - Listen to your recorded calls to see what you liked and what worked best.

    PS - I agree with FCG - quality vs quantity is always the best route!
    fully agree

  22. #22
    Banned Reputation points: 3393
    Join Date
    Jan 2016
    Posts
    50

    If you're not making 200 calls a day, you're not making scratch as a broker

  23. #23
    Senior Member Reputation points: 3610
    Join Date
    Nov 2018
    Location
    Miami
    Posts
    116

    300 Calls Min, Target and speak to 40% of prospects. Email Follow ups and voicemails.

  24. #24
    Senior Member Reputation points: 337045
    Join Date
    Mar 2015
    Location
    Rock Ridge
    Posts
    3,453

    Quote Originally Posted by Ericr123 View Post
    300 Calls Min, Target and speak to 40% of prospects. Email Follow ups and voicemails.
    There is no way in hell you are actually going to speak to 40% of 300 cold calling. The dilution is much higher even if your calls are very targeted. Logically the math does not work. If you call 300 in one day and actually speak to 40% that means you had 120 conversations with a decision maker a day. That is not happening.
    Hedley Lamarr......That's Hedley

  25. #25
    Senior Member Reputation points: 3610
    Join Date
    Nov 2018
    Location
    Miami
    Posts
    116

    With a predictive dialer, it is possible.

Similar Threads

  1. Tired of cold calling?
    By Kevin G in forum Financial Services
    Replies: 2
    Last Post: 06-14-2020, 12:58 PM
  2. Cold calling
    By LeoN1992 in forum Merchant Cash Advance
    Replies: 23
    Last Post: 04-08-2020, 12:03 AM
  3. Emailing is the new cold call
    By Loyola in forum Promotions
    Replies: 0
    Last Post: 02-16-2020, 07:23 AM
  4. Tired of cold calling?
    By alwaysclosingg in forum Merchant Cash Advance
    Replies: 0
    Last Post: 12-29-2019, 06:32 PM
  5. No More COLD Calling!
    By dtxbusinesssolutions in forum Promotions
    Replies: 0
    Last Post: 11-13-2018, 05:53 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

BoA launches business loan marketplace
Quickbooks adds new LOC product
Dext Capital upsizes corp note


DIRECTORY