As a growth-focused property manager, keeping your funnel filled with potential customers is essential. That said, it’s not always easy. And while warm leads may be the Holy Grail, they’re not always easy to come by. Like many business owners, you may find yourself facing the need to expand your reach to prospects you’ve never interacted with before. Done correctly, cold calling can be a highly effective strategy for property managers. Here are 5 tips to improve your odds of success right out of the gate.
You don’t necessarily have to read from a script word-for-word, but you should have something you can use as a guide. Keep in mind, also, that your cold call scripts should be tailored based on the audience. In other words, if you are trying to gain more commercial property management clients, make sure what you’re saying speaks to their specific needs vs. those of a residential customer. You should also prepare physically by being in a quiet place and having a pen and paper ready to take notes.
Making a connection is the key to engaging the prospect on the other end of the phone. As such, when you’re speaking, you should be careful not to sound robotic (hence not reading your script word-for-word) or uncomfortable. Be authentic in your tone and conversation. Ask insightful and/or collaborative questions that will pique the interest of your prospect and elicit a positive response. The more engaging you are, the longer you’ll keep them on the phone and the more likely they’ll be to take the bait.
Successful cold calling depends not only on the words you use and how you say them, but also when you call. Studies have shown that people tend to be more open and responsive to cold calls during the hours of 10am and 4pm. Conversely, calling early in the morning or during evening hours can put you at a disadvantage with your prospects and possibly even ruin your chances of winning them over. As such, you should schedule your cold-calling activities during regular business hours.
Ideally, the prospects you’re calling on will answer. Realistically, many will not, which means you will likely find yourself leaving a lot of voicemail messages. Be ready for this by preparing a brief script to use. Your message should be short (15 seconds or less) and to the point. Remember to include who you are, why you’re calling and – most importantly – a specific and compelling call to action. The recipient should know exactly what you want them to do, which is to call you back.
In order to successfully sell your property management services, you’ll need to demonstrate exactly how those services can address your prospects’ pain points. To do this, you must be open and ready to listen to what they have to say. Ask probing questions and really listen to their responses. Learn how to hone in on the specific areas where you can add value and then focus on showing them how, whether it be saving them time, reducing their costs, or whatever happens to be at the top of their list.
Lastly, it’s also important to understand that not everyone will be open to a cold call. In your efforts, you may very well be hung up on and frequently ignored. Try not to take things too personal. Instead, focus on the prospects on your list who are responsive. Use rejection as a learning tool to continuously hone and improve your approach. Over time, you’ll start building a list of leads to nurture who you will hopefully be able to convert into paying customers down the road.