I was talking to a friend the last night who works in sales. Being that it was the end of the month yesterday, it was a good time to review how well his sales department did, as well as take note of what they could do to improve their numbers for next month. The conversation focused on building trust with both the sales team as well as the customer. I’m not sure how, but I some how got talking about the movie Boiler Room.
Ben Affleck plays a character named “Jim Young.” He delivers this pep talk to the new recruits in this movie about a group of stockbrokers working out of a strip mall “boiler room” in Long Island. He’s all fiery and passionate, and Seth Davis (played by Giovanni Ribisi) is hooked. He doesn’t know yet that the firm, JT Marlin, is a “pump and dump” operation. All he knows is that he might become a millionaire overnight.
Young’s ‘inspirational’ message offers a lot of truth. When you’re cold calling, someone is always going to close the deal. Make sure the person is you, and not the prospect on the other end of the line. You must be relentless to avoid being on the receiving end of a “thanks, but no thanks” sign off.
Of course, this is where we part company from the high-pressure, fast-talking sales techniques on display in his boiler room. For one thing, not many sales close on the first approach. The first chat is your opportunity to tip the balance, with you in control making the right points and asking the right questions. You begin to build rapport with the prospect as you explain how the solution you’re offering is the best one for his situation. And you hope that future meetings will build on that rapport and turn into trust.