Kevin Price, Host of the Price of Business on Business Talk 1110 AM KTEK (on Bloomberg’s home in Houston) recently interviewed Andrew J. Zurbuch.
About the interviewee
Andrew J. Zurbuch an M.B.A. graduate with a proven record of success in sales, management, and marketing in multiple states. Creative problem solver with the drive and ability to increase account growth, multi-task, resolve conflict, and maintain profitability. Computer literate. LUTCF Financial Services Designation (The American College/NALU).
Tell me about your firm (number of employees, location, type of companies you work with, etc.).
Business Office Location: Bloomington, Indiana
Large Financial & Insurance Companies
What type and size of companies do you have as clients?
Over the years type of companies served are several including manufacturing, optometrists offices, home builder.
Tell us what you hate about cold calling?
As a business owner of a couple of companies, we avoid cold calling
outright. Personally, I am not afraid to cold call a prospect because it is
a form of marketing; Nor do I feel that it is not without value for some
people, sales professionals, or some businesses. Professionally though I just really don’t do it.
Is cold calling necessary in your business? If so, why?
Sales is a numbers game, so cold calling from a Sales perspective can be
useful. It just takes a tremendous amount of attempts, cold calls, to get
the desired result, a sale. It can be useful because it can lead to sales.
It just takes a tremendous amount of time and effort to get the desired
result. Which means less $, made per sale. Resulting in a lower ROI.
Therefore it is less effective than other types of client acquisition
methods. So I have a negative connotation towards cold calling because it
will require a lot of time and effort; Earn less $ per sale; Is loaded with
rejection due to the public’s reaction these days to cold calling.
Cold calling is not necessary in the financial services business. There are other more effective and efficient client acquisition methods.
What are some effective ways you have developed to avoid cold calling?
In the Brokerage business, financial services, we avoid cold calling
outright. First DO NOT CALL LAWS, make it more difficult. Secondly, there
are other more effective marketing systems, to use to acquire clients.
Therefore more effective systems mean more $ per sale. So thereby resulting in a much higher ROI.
So we overcome it by never really relying on it from a client acquisition
standpoint. We overcome it by using direct mail, PPC advertising like Google Adwords, & Online listing on a popular directory website.