Some salespeople tell me they are successful cold calling. If that works for you, then continue. While your cold calling paid off (“transforming” your client’s business), the question stands in how much TIME it took to ultimately close the deal.

People who use referrals as their Business Development/Pipeline development method close more business in less time. Consider how much more business you might have closed during the time you spent trying to reach the CRO if you were actively working your referral network.

I disagree with this statement you made “If you work from referrals or leads alone, someone else is choosing your customers for you and there’s no guarantees that a sale will result.”

Actually, when you sell through referrals, you ask for the introduction to exactly the person you want to meet. You absolutely choose your customers. And, when you receive a referral introduction, that person wants to talk to you. You shorten your sales process, ace-out the competition, reduce your cost of sales, and convert that prospect to a client more than 50 percent of the time.

It sounds as if you enjoy the thrill of the chase. Most salespeople do, and so do I, but what I love the most is talking to sales prospects when I’ve been introduced. You really don’t have to cold call.

I secured the largest initial customer in my companies history by cold calling the Chief Revenue Officer repeatedly. After he finally connected me to the right people on his team, the sales process was underway. As it turns out, my solution has transformed their business and it all started from a cold call. The CRO thanked me for my sales effort.

I call on some of the largest brands in the world. It’s hard to penetrate their armor, but when you do there’s so much to be gained for both parties if there’s a fit. I choose who I want to go after and that gives me a certain level of control. If you work from referrals or leads alone, someone else is choosing your customers for you and there’s no guarantees that a sale will result.

My approach is simply this:
Care enough to research
Care enough to call
Care enough to have a genuine interest in providing value and/or solution

When my prospects get the idea that I care, they care. It’s a relationship. It may start cold, but there’s always a chance it will heat up. In the example I gave earlier, my client would still be struggling with the same problem had it not been for my persistence.

If your attitude is aimed at finding those who need you, cold calling is much more acceptable.

I wonder why Joe Blow gave your name as well. The referral process works when Joe Blow contacts you, recommends the Financial Advisor (and gives list of reasons) and obtains your agreement to speak with him.

Otherwise, the Financial Advisor is making a cold call. (No introduction) No wonder you had the reaction you did. Show Joe Blow how to make an introduced referral!Tips here
http://www.nomorecoldcalling.com/articles/No_Such_Thing.pdf

Even if you are a new rep in a new territory, people will refer you because of you. People refer those they know, like and trust.

Making a list and doing nothing accomplishes nothing. Referral selling is a proactive, disciplined process, with specific goals, skills, and metrics. Like anything else, when you work it, it works. If you wait until someone knocks on your door, you won’t have a job for long.

I just posted to Geoffrey James’ BNET Sales Machine http://blogs.bnet.com/salesmachine/?p=4365#comments.

The way Geoffrey defines cold calling is not the way I define it. I never said that any new customer who calls in is a cold call. That is Geoffrey’s definition.

I define cold calling as calling someone who does not know you and is not expecting your call. It’s an outbound sales calling effort where salespeople or telemarketers are calling from a purchased list or names they’ve been given.

If someone calls you through a referral, that’s not cold. It’s really HOT! If they took the initiative to pick up the phone or send an email because someone suggested they talk to you, they’re really interested, and most likely, qualified. (You’ll need to decide on that.) As salespeople, we love this kind of sales call. Keep ‘em coming!

Make a list and ask for referrals, that is your grand advice? What if you are a new rep in a new territory? Then just wait until someone knocks on your door?

The reason why there are so many bad salespeople is because they believe there is a magic bullet, keep selling those magic beans, the rest of us will actually work for a living…

My Article: There’s No Such Thing as a Warm Call gives more tips http://www.nomorecoldcalling.com/articles/No_Such_Thing.pdf