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May 2010 Sales Meeting Cold Call_Eun
Transcript of May 2010 Sales Meeting Cold Call_Eun
May 6, 2010 Why do we cold call? Cold call is one of the most effective ways to generate new business. Now, let us talk about how to cold call... Identify the propsect to call: HC database (leads, contacts, B&S, etc.)
Internet (Google, LinkedIn, Jigsaw, etc.)
Technology News Sites / VC Funding news => Ed P Six Steps 1. Earn the Right
2. Need Development
3. Need Recognition
4. Customer Awareness
6. Close Earn the Right Stimulate Interest
Intitiate Relationship -State Role, Purpose & Time
-Make opportunity Statement
-Focus on Decision Maker: Role / Background / Interests
-Assess Behavior Traits LinkedIn Messages to Mr. Winton Gibbons at Nanosphere Dear Mr. Gibbons,
How do you do?
My name is Eun Cho, and I'm the Sales Engineer at Hamamatsu and a part time MBA student at University of Chicago Booth.
Nanosphere's diagnostic instruments brought a huge interest to the scientists at Hamamatsu for we are one of the most reliable light detector manufacturing companies. For instance, for the Personalized Diagnostic instrument introduced at MIT Technology Review, we may have the light detection solutions: http://www.technologyreview.com/biomedicine/24581/?nlid=2780
I have been trying to contact Nanosphere scientists or engineers, but haven't been very successful. Is there any way you can help me to get in touch with a Nanosphere design engineer so that we can learn Nanosphere's application and introduce our products?
I live in Chicago, and I would also like to pay you a visit. Then I can give a presentation on our product offerings.
I hope to hear from you.
LinkedIN Message ONE: Response ONE: Eun,
What is it that you exactly want to discuss or propose?
LinkedIN Message TWO: Dear Mr. Gibbons,
Thank you very much for replying back to me.
The main topic I would like to discuss is the light detection technology Nanosphere is interested in or is currently using for its various biomedical instruments. For fluorescence, chemiluminescence, or other type of light detection, we have many solutions to offer.
If I can meet with the scientists or engineers at Nanosphere, I can bring some information that they may be interested in. If I can discuss the light detection technology Nanosphere is interested in with them prior to the meeting, I will be better prepared and able to bring the right information.
I hope to hear from you.
Response TWO: Eun,
It sounds like there is not a fit. We use an evanescent wave guide.
LinkedIN Message Three: Dear Winton,
I am not too familiar with evanescent wave guide, but briefly studying the evanescent wave guide in wikipedia, I understand that it is a means of transmitting electromagnetic waves from one point to the other, like an optical wave guide. Is my understanding correct? In which case, would you not need a photon or charged particle detector to convert the photons or charged particles into readable current or voltage?
I thank you very much for your time, and I look forward to hearing from you again.
LinkedIN Message FOUR: Dear Winton,
We have a low cost back-thinned CCDs (high sensitivity). Are you purchasing a camera or a CCD? Either way, we may have products we would like to offer to you.
May I ask the supplier and the part # of the CCD camera you are purchasing? Also, may I ask what features of the CCD camera you would like to improve? Then I will send you the information about the products that we believe will be suitable for your application.
I look forward to hearing from you.
ps. If it is okay with you, would you please send me an email to ECho@hamamatsu.com? That way, we will be able to have a better and more efficient communication.
We simply use a low resolution CCD camera to measure scatter.
Response Three: Paul: shy, introvert, inexperienced. Vivian: procrastinator Four colleagues who don't cold call.... Why don't you cold call? "If they say 'NO' then it's hard to take rejection" "I'll do it tomorrow, there's always a chance later" Jose: too busy "I don't need to cold call because I have an existing account base, and I'm overloaded at work" "I have my pride. Cold calling is lowly." Who has the biggest problem? How to overcome fear of Rejection?
- Life is too short to worry about rejection.
- Attitude is everything. The prospect can smell fear and negativity a mile away.
- Never fear word 'NO'. It's never personal.
- Do your homework. If you are well-prepared, then you will lessen the chance of rejection.
- Be brave, and creative! It can be fun.
- Don't forget Tip #5: Cold calling takes effort & time. More rejections mean you are close to earning the right. Rejection means success! Procrastination & Overload - Set target # to achieve, dedicate specific time & day of the week for cold calling.
- Start with one call per week => easy start!
- Make a to-do-list. Cross off 'calling a prospect' once it's done. => feels good!
- Talk to your boss For Hamamatsu, Cold Calll may not be the most effective way to generate business. But, in a broad sense, there are only two ways to generate business: customer comes to us, or we go to customer.
Definition of cold call: we initiate the relationship with the customer. Xoran Technologies
Ionics Mass Spectrometry Group -Opportunity was identified by looking through old leads
-Application: ENT CT => Website looked solid.
-Numerous calls & emails => all failed. The customer never called or emailed back.
-Stopped by at its facility in Ann Arbor, MI.
-Introduced myself to the receptionist, and asked if I could meet an engineer. => successful!
-I met with the engineers one more time, and the VP of R&D at RSNA in 2009. The VP said, "let me work on the internal selling first. Please follow up with me in a few months"
-Potential: 10pcs VArian3040 at $60k, 100pcs VArian2520 at $35k => total of $4M!! -Opportunity was identified by google search
-Numerous calls/emails => all failed.
-Stopped by at its booth at ASMS
-Introduced myself to the president of the company. I brought Mick Iguchi to show the customer that we spoke the same language of the mass spectrometry.
-Visited its facility in Toronto, Canada, several times.
-Currently Ionics is evaluating M2Ion detector.
-small company with small potential but the company is growing fast => 10s of physicists Tip #1: Reference any referrals upfront
Use Network: friends, school, previous work, existing customers, etc. Tip #3: Show them you understand their language.
Emphasize you are not a salesperson, but an engineer! Tip #4: Lure them with samples & new technologies.
"I'm doing this for you!" Tip #5: Are you ready to cold call now? Tip #2: Do the homework: show you are prepared for the call/visit by thoroughly studying what they do.
Company webiste and 'WIKI' can be great tools: "knowledge prior to the first contact" is the key.
Keep in mind: one call doesn't earn you the right!
If you haven't earned the right, then you will get rejected! Michael: too proud Microsoft opportunity=> Roshan
20-30 OEM Camera Opportunities => Ed P Tip #6: Talk to Ed and Get help.
Keep in mind: one call really doesn't earn you the right. Different people can react to drugs in different ways, and in some cases the response can be predicted from their genes. For example, the drug warfarin, often used to prevent blood clots, can cause dangerous bleeding in some patients. Researchers have identified two genetic variations that can increase this risk. A new device can rapidly test biological samples for genetic variations that could cause dangerous reactions to some drugs. Personalized Medicine on the Spot Nanosphere, Inc. -Ken Kaufmann
-'MIT Technology Review' -Contact with an engineer => not successful.
-Linkedin: Mr. Winton Gibbons, VP of Business Development, University of Chicago Booth MBA Graduate Paul: fear of rejection Vivian & Jose Michael: too proud -Become a HC Sales manager