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B2C Cold Calling – The Expansion



B2C Cold Call
The who, what, why, where, when and how

At IFA Direct we divide the call into 4 parts, the introduction, expansion, home run and the benefits.

This post will look into more detail what should happen in the expansion part of the call. The expansion is the most unscripted part of B2C Cold calling process and is generally the longest part of the call. Its essentially, the fact find part of the call where the caller will find all the pertinent information relating to the prospect. It is the who, what, why, where, when and how.

So many time newbies working in our B2C team, given any interest in the hook part of the call by the prospect will talk at the prospect rather than ask the who, what, why, where, when and how.

One guy who was working in our call centre, who I will not name, talked non-stop for 3 minutes, simply because the prospect had a pension. When questioned why he had talked non-stop for 3 minutes he said “well he had a £20,000 pension, so I had to tell him everything….!”

No doubt he had been so relieved from the previous 50 “not interested’s” that he fell into the classic trap of telling and not selling. Ironically, this approach would be more likely lead to boring the prospect or pushing the prospect away, rather than achieving the desired outcome of generating a need and booking an appointment.

Selling is asking the who, what, why, where, when and how. Asking for example “Who is your pension with?..How long have you had the pension….What type of pension is it….What is the value of your pension?

Once you have basic information regarding the prospect, you  then maybe armed to calculate potential savings from Annual Management Charges (AMC) . If you could demonstrate a £5,000 saving in AMC over 5 years before their 55th birthday, they are more likely to engage with you, take note and perhaps book and an appointment to see a financial advisor, rather than if you simply told them this.

You can thing bring other relevant benefits into the B2C cold call such as the possibility of transferring to a more flexible pension which they probably don’t have and need. Simple.

Ryan Mellor, Co-founder at RMT Direct

If you are a financial advisor and you would like to work with us, please visit RMT Direct.

Ryan Mellor is Co-founder of RMT Group, RMT Direct Leads, IFA Direct Home and RegulatedAdvice.co.uk.