Best Telemarketing 2012 “Fear or Greed”

The right sales message or “pitch” is an essential part of all successful lead generation campaigns.  For 7 years I worked for the most financially successful man that I have ever known on a personal level.  This chap went from a humble background to amass a small fortune.  I will explain his take on matters and my interpretation of “Fear & Greed” to provide the best telemarketing pitch.

LEAD GENERATION – THE BASE INSTINCTS OF HUMANS

My mentor worked on the stock exchange for many years.  He didn’t talk much about that period of his life.  He tended to sum matters up with short proverbs.  When I asked him how he made sales, he simply said “Fear & Greed, Stephen – Fear & Greed”.  These were the 2  deep-rooted psychological drivers for most people on the stock exchange.

“Which is more powerful”, I asked – Fear or Greed?  In essence, these are simply 2 sides of the same coin – yet one side faces up and the other faces down.  A new version of the film ‘Wall Street’ was released recently which examines “Greed” – and evidently on face value, this emotion is not a pretty one.  Yet is “Fear” a better emotion than “Greed”.  In all honesty, both emotions demonstrate the more animalistic driving forces of humans, yet I would choose to sell on “Greed” any day – I will explain why….

Whilst “Greed” in it’s most extreme form is no doubt a cause for many woes in this world, the same too can be said for “Fear”.  Until the big crash in 2007, the markets were running on Greed.  Everyone in the West wanted a bigger house, a better job, in short – a better life.  The problem was that everyone got way too greedy and started borrowing money that they didn’t have – especially the banks!  Net result – the bubble burst and the pendulum has now swung back  to “Fear”.

WE NOW LIVE IN A WORLD OF FEAR – AND THE ECONOMY SUCKS!

Government’s are too scared to invest, as are banks, businesses and individuals.  We’re constantly told by the media that the whole system could collapse at any moment.  The media bandwagon tells us how oil prices are going through the roof, that the Euro is on the brink, and that we’re all going to be attacked by crazy terrorists at any moment.

Quite frankly, one look at the number of people who vote in elections sums it all up.  Many people have stopped voting because they’re sick and tired of listening to ‘Austerity Measures’ and all the doom and gloom – or “Fear”.  In short, people tend to get far more excited when they think “What’s in it for me”, as opposed to “Another reason why I have to do what I’m told”.

So whilst “Greed” in it’s extreme form is no doubt damaging, “Fear” is ten times worse.  In short, “Greed” is the upside or positive emotion and “Fear” is the downside or negative emotion.   I will try to give an example…

CASE STUDY – LEAD GENERATION, “GREED” V “FEAR”

I’ve been helping a client for about a year now and I came up with a great pitch about how the product will make companies lots and lots of money.  My client was overwhelmed by the fact that on average – every time I pitch to 2 people that I’ve never spoken to before in my life- one of these two prospects asks for a meeting to discuss matters further.  They described these statistics as ‘phenomenal’.  In contrast, they have a rather dour  sales manager who’s lead generation capabilities appear to be questionable.  Could it be that this sales manager’s ‘doom-and-gloom’ outlook is the root cause of their failure Vs my upbeat success?

I was asked at the outset of the campaign for this client, to write a generic email to support lead generation.  Suffice to say that I based the email on “Greed”.  That email has been modified and re-written umpteen times now; but it’s done a great job by using the classic method of producing Attention, Interest, Desire, Action (AIDA).  Most prospects want to improve their performance and make more money – so selling on “Greed” is simply natural – but also positive.  When I create a sales opportunity for my client, the prospect is looking forward to a fun and interestng meeting where they talk about success.  But what is the flipside…

In contrast, I’ve just read a new email that their sales manager has come up with based on “Fear”.  Certain Fascist propaganda experts of the 1930′s would have loved the tone of this email.  The concept is based on Darwin’s survival of the fittest and is intended to scare the hell out of anyone – that if you don’t read this your business will die!  Can you imagine what sort of meeting a prospect would be looking forward to?  A metaphorical dark cloud in the room, where my client explains how if they don’t do what they’re told that they will lose their job, their business, their livelihood and no doubt want to jump out of a window?

LEAD GENERATION BASED ON GREED – MAKE ‘EM SMILE

Until someone comes up with a better business model than Capitalism, then we really have a choice in selling on “Fear” or “Greed”.  To summarise, I would recount the children’s story about the Wind and the Sun.  The Wind made a bet with the Sun that he could get the coat of a man walking down the street.  The Wind blew and blew, but the harder he blew, the tighter the man clutched his coat.  The Sun came out and beamed down upon the man – who instantly took off his coat, with a smile on his face!

So for the best telemarketing pitch – make people smile, give them something to be happy about in these hard times – and you’ll make far more sales.  If you need help with Telemarketing, Training, Writing Successful Pitches, or any other related sales matters – call me on 0203 790 9307 or email stephen@sl-freelance.co.uk .

About Stephen Law

Stephen Law is a Business Development expert. Over a 25 year period, Stephen worked has worked from a Foot Canvasser and Telemarketing Junior in the 1980s to an Executive Director and Company Secretary in the 1990s. Stephen's sales and marketing career spanned the IT, Communications and Technology sectors, where he was always top in his field. Stephen has also been head of Manufacturing, HR, and R&D for a number of organisations. In 2005, Stephen decided to form his own company offering Business Development via Consultative Telemarketing. Few people enjoy telemarketing as much as Stephen and fewer still understand how to communicate effectively with senior decision makers. Stephen is an Associate Partner of the No1 UK Business Development Agency and an Honorary Director at the LCDA for Business Development, where he has taught the Art of Selling at London South Bank University.