Cold calling locations and sites
Try targeting large businesses / organisations that might need two or more vending machines. Who knows...you might get lucky.
Before calling or visiting someone, you need to be prepared. Being prepared means knowing what to say and being able to respond to any objections or questions they may have.
If cold calling or visiting a location doesn’t come naturally to you, you may want to spend some time putting together a script before you start marketing. This will allow you to get your message across quickly and professionally. Make sure you practice your script before starting and always try to improve it each time you use it so that it becomes more natural.
What is a good success ratio when I cold call and visit a possible vending location?
So you might call 20 locations and get one yes. You might call 50 locations and get 5 yes’s. What you are trying to work out is your “success ratio” or the number of calls you have to make before getting a yes. Once you work out your “success ratio” you can improve it by making changes to your sales script, by targeting the right locations and by responding appropriately to objections and questions the person might have.
We have a “success rate” (number of calls before getting a YES!) of 1 YES for every 6 calls made. This is about 15%. Speaking to other vendors who cold call or visit a location have said their success rate is 1 in 10 (10%) and some 1 in 5 (20%).