In the February issue of NU, I showed you some of theworst cold-calling scripts I've found and why they don't work. Now,let's take a look at some of the best. Although the scripts arefocused on financial advisors, the same suggestions hold true forinsurance professionals.

Best advice for cold calling

In the example that follows, I'm taking on one of toughest typesof cold calls. We will develop a script to call CEOs or CFOs ofsmall to medium-sized companies. Personalized is the only way togo.

The best advice I found when I searched “best cold callingscript” was at the TeamgateBlog. I took each step of their advice to craft a Personalizedscript, that is, one that's tailored to each prospect. The companyI researched has 500 employees and is on the list of 100fastest-growing companies in Utah. That would be a good catch,right? The quotes from the Teamgate blog are in italics. Mycommentary follows.

Step 1: Provide Context

“Knowing who you're calling is crucial, but so is placing your callin a context. If the only reason for your call is that a prospecthappens to be on your to-call list that day, you're just anotherintrusive salesman with nothing interesting to say. Instead,leverage social media channels, media coverage, new hireannouncements and news updates to find a valid reason for your calland determine which of your prospects are ripe for engaging at thatparticular moment.”

My research on this company took a few minutes. Great website.Big section on “our people.” Within two minutes, I had the names ofthe CEO and the VP of Operations, both compliments of LinkedIn. Ichecked Glassdoor, obviously.

Here is my opening line based on the research I did: Is thisFrank? This is [Your Name] of Reliable Securities. By the way, I'mnot surprised [Prospect's Company Name] is one of the 100fastest-growing businesses in Utah. I buy your product all thetime. Good job.

[Chit-chat based on how CEO responds.]

Frank, I know you're busy and aren't waiting for my call. Ispent some time on your website. Very impressive. It just screamshow proud you are of the people who work with you.

The focus of my team here at Reliable Securities is helpingsmall to mid-sized companies profitably keep this most importantasset. As financial advisors, we focus on the retirement assetcomponent of our benefit package. May I ask you two or threequestions to see if what we do might be a fit for what youneed?

Step 2: Ask Smart Questions

“The more research you do, the 'smarter' your questions will get.By asking very specific, personalized questions you willdemonstrate to your prospects that you took the time to track allthis information down and really understand their situation. Smartquestions will progress the conversation further; trying to wing itwill only create distractions, wasting your prospect's time andyour own. And there's one thing the modern society is trulyobsessed with — using their time efficiently.”

Advisor Script: Out of curiosity, are youthe third generation of your company to be CEO or does the line goback further? [Response] That's called successionplanning.

For whatever it's worth, according to the website, Glassdoor,your salaries for Utah seem exceptional. You also seem to haveexceptional insurance, health and wellness, financial andretirement benefits. You are obviously spending a lot of money tocreate an incredible opportunity. Any chance in the back of yourmind you might get better performance at a lower price for your401(k)?

Step 3: Test Close

“Pitches that lead to a soft sale typically rely onquestions that present two attractive options and can't be answeredwith a simple 'yes' or 'no.' This approach opens up a much morerelaxed, tension-free space for a conversation, unlike hard-sellquestions like “Would you like to start with the basicplan?”

[Optional based on response] Tell me, whenwas the last time you sat down with your advisor and did a thoroughreview of your 401(k) expenses and returns compared with currentbenchmarks?

We're happy. Frank, I appreciate the fewminutes of your time. I want to send you a brochure on the ReliableSecurities Team. Stick it in a drawer somewhere, and if you everget a nagging thought, “I wonder if we're on track,” give us acall. Fair enough?

It's been a while. Frank, I will be in yourneck of the woods a couple of times next week. I'm out thereTuesday morning and Thursday afternoon. What day might you have alittle wiggle room in your schedule?

Step 4: Schedule next steps

More often than not, the appointment will not close on the firstattempt. Have a fallback.

Our office is in the Midvale Megatower. You go right past iton your way to the airport. If you were to swing off the freeway at72nd South, we could spend 30 minutes and find out if what we haveand what you need might be a good fit.

When are you heading out of town next and when are youreturning? And which would be better, on your way in or out oftown?

Whether you're a rookie or a veteran who wants to jumpstart aflat business, cold calling could be an option.

Bill Good is chairman of BillGood Marketing.