In this video, we provide a recording of cold calling for merchant services. I think the salesperson does many things really well, and maybe just one area where I might tweak his cold call script.
He Sounded Really Good
Overall, I think the salesperson in this recording of cold calling for merchant services sounded really good. He sounded extremely confident and prepared, and knew exactly what we needed to say and do. Even when sales objections arose, he was ready with a response and did not seem flustered at all.
You Don’t Need to Talk So Much About the Product
If I were to look for something the salesperson could have done better or differently, it would be that he did not need to go into so much detail about his product offering during the cold call. Not only is it not needed, because the goal of the cold call is not to sell the product, but to sell the appointment. But also because you almost want to save some of the details for the appointment, because if you explain everything during a cold call for merchant services, there is less of a reason to meet in the appointment.
Focus More On Value
The salesperson uses what I would call a product intro script, where he talks primarily about what he sells and then tries to close the appointment. If you apply my suggestion to talk less about the product, you can focus more on the value the product offers at the beginning of the call. I refer to this flow as a value intro cold call script.
Ask Some Questions
The other thing that the salesperson could have done in this example of cold calling for merchant services is to ask questions more questions. If you open with some of the value you offer, you can then follow up with questions to see whether the prospect is interested in those improvements or if they have any pain points or concerns the product can help with.
Applying that to this example, if the value offered is all about decreasing credit card processing fees, it would be good to ask the prospect how concerned they are about the fees they are paying, or how important it is to reduce them.
You could also ask what I call current state questions, which aim to learn more about what the prospect is doing in the area where you have something to offer. In this case, you could ask questions about what the prospect is doing in credit card processing.
Go For The Close
After you have asked some questions, you might have identified that the prospect needs what you sell and found a justification for talking more. And this is where you can go for the close and try to schedule an appointment with the prospect so you can share more details about what you sell.
We hope this cold calling for merchant services example gives you some ideas for improving your sales efforts!
