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Regarding "cold calling" success or lack thereof, I think you need to use a softer approach. I would develop a script that you can use when you get someone on the phone, have to leave a voice mail message or as an email message. This script would solicit the person for a 20 to 30 minute telephone conversation where you will share "how oil drillers are avoiding losses and boosting profits through improved well monitoring systems." In the cal you can share some comparative information about your solution (in general terms) and pneumatic systems. Then you can ask the person how they are currently monitoring their wells and perform some additional qualification. If you find you are speaking to the wrong person (from an authority standpoint) you can get a referral up or down. I would start very high in the company and be willing to be told, "Mr. Bigwig is not the person you need to speak with. You need to speak with Mr. Operational Manager." Then you can reference your call to Mr. OP with, "I was talking with Joan in Mr. Bigwig's office who suggested that you might be the better person for the conversation I would like to have."
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I have often thought about doing this, but I worry that it will sound too rehearsed. I have been told I have a "radio" voice, so I have to be careful and concentrate not to overdue it when I am on the phone. Also, when do you stop leaving messages for soemone that does not call you back?
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[JIM SAYS] Funny, I used to work in radio. Seriously, the script is just a suggestion. Take the concept and make into a conversation you can have. Yes, you have to be assertive, but you don't have to be telemarketer to use this concept. It works for me getting C-level executives in Fortune 100 companies on the telephone all day long.
You call people three or four times waiting three business days between calls. If they don't respond to you after the fourth call (or email) then statistics show that additional calls are usually going to fail. Put them on the backburner for a month or six weeks and then come back to them. The only time you stop calling them is when they ask you to stop calling them, tell you they are not interested or book an appointment.
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Do you have problem - impact - solution - results type stories from your current customers that can show prospects the financial and operational benefit of your system (compared to pneumatics and compared to no current solution)? This will help differentiate your solution from "knock off" imitators or pneumatic solutions.
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I do, but would you use say who the current customer is? I have read that you are not supposed to discuss current customers with potential customer.
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[JIM SAYS] No. You say, "for example, one my customers – an operator of 65 rigs in East Texas – used to use a pneumatic solution. They told me that they were having problems with the older system mis-reporting certain data. [PROBLEM] As a result, they were spending twice as much money (give an amount if you can) on repairs compared to maintenance costs. Plus, well down-time was costing them $X. [IMPACT] We provided a solution. [SOLUITION] Now, they have reduced maintenance and repair costs by X-percent and their well down-time is down Y-percent. [RESULT]"
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You can counter your competition with a TCO (Total Cost of Ownership) analysis, but you must set the hook for this early in your sales cycle so that your prospects will challenge your competition to do the same.
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Please elaborate on this. What exactly is a TCO? Perhaps give me an example.
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[JIM SAYS] Total cost of ownership shows the cradle to grave cost of your solution. It should include the cost of your solution – purchase price, installation expense, support costs, everything the customer should expect to pay over the useful life of your product. Balance the cost side against the savings side – depreciation, reduced well down-time, reduced operational expenses (don't forget the cost of the time of the people required), etc. If your solution offers a stronger (i.e., lower) TCO than your competitor, then you look better. If your TCO is always lower than your competition, then you need to make sure your prospect makes this part of their evaluation. This is the way you set traps for your competition.
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Overall, I think your solution must be sold at a higher level where the financial benefits have more strategic value. Lower level people tend to decide on operational issues and your value proposition may not be strong enough or clear enough to drive them away from the "same old same old." A financial solution sold to Mr. Bigwig will drive the operational people to jump on board.
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I have found however going to the engineers, who pretty much deal with all things oil operations, tend to want to let such decisions belong to the production supervisors in the field. It seems that they do not want to be bothered by such minor decisions. Now, I have the same old problem of dealing with field employees who like the "oilfield" perks. These guys are more interested in what you can do for them, they like the salesmen that come out to the site with a bar-b-que pit on a trailer hitch, and cook everyone ribeye steaks and provide the beer to wash it down. Most could care less about cutting cost, I mean I had one customer tell me that they do not try and save money, because that raises the expectations to save that much later, they look at it as a noose around their necks.
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[JIM SAYS] There is always someone in the organization who cares about cost. If you can find them and show them a business and personal "win" they will go to bat for you. I'll give you a hint. These people usually wear ties and sit in offices – not on oil rigs.
