Closing a $2500 deal (live sales calls)

Hey, my name is Jimmy fung. I'm a 23 year old in Toronto, Canada. And in today's video, I want to share with you a live sales call that I had. And the reason why I'm sharing it with you is because I want to show you exactly the type of questions that you want to be asking, the way you want to navigate that conversation. If you're taking sales calls for your own lead generation agency or if you're selling any other service online. Right. Obviously my specific example, I'm selling cold emails as a service. So, so basically lead generation, my entire YouTube channel is talking about cold emails and lead generation. So if you are selling other services, let's say Facebook ads, SEO, website design, this exact same process will still apply. You just obviously have to switch up the type of questions, the specific things you're saying. And I have different videos on my YouTube channel talking about how to close clients on zoom calls, the type of questions you want to be asking. But obviously when I recorded those videos, it was more so the theory. So hopefully in this video you're able to see precisely how I'm able to take those theories, those questions, and apply it in real life over an actual conversation. And I hope you find this video valuable. Hey Larry, how's it going? How are you?

Hi, Jimmy, how are you? Fine, thank you.

That's awesome to hear, man. Where are you calling in from today?

I'm actually calling in from Ireland here.

Oh, nice. I'm calling in from Toronto, Canada. So it's a bit cold here, but I'm, I know we put, I think it was 45 minutes on the calendar today. We probably wouldn't use all of that time, but if it's good with you, let's, you know, let's jump right into it, shall we? Okay, awesome, Larry. Cool. So I know I reached out to you over, over emails. I sent you a cold email talking briefly about what we did. We also sent you over the video. But I guess what I'm curious about is what kind of prompted you to jump onto this call. Right. Is there anything in specific that you wanted to chat about, anything like that?

Yeah, to be honest, Jimmy, I'm looking to do, I would say the business is looking to do, you know, more lead generation with consistency because I'm working and you know, we're working with SaaS at the moment. It's more referral based business and I'm looking to have something more consistent. So what piqued my interest, to be honest, is your video, you know, the email I Got obviously piqued my interest. And then I went over to the video which I found quite educational. Now I will say, you know, we have tried one or two lead generation agencies before, so I know what's involved. I know about cold email, but to be honest, we've been burned more than once. So, you know, I'm very skeptical about this, to be honest. But I know, you know, if we got the right partner here, I do believe the cold email could be a sales channel that ticks the box for us.

So that's why 100%, Larry, that, that makes sense.

Right.

And obviously there are a lot of people doing cold emails. A lot of people I chat with, they, they kind of say something similar where they worked with someone else or they tried it and it just never worked out. I guess what I'm curious about, Larry, is I took a look at your website right before this call. I feel like I kind of understand what you guys do, what you guys sell. But I want to ask you directly and hear from you directly. Obviously you guys provide software development services and it looks like you guys are doing it for SaaS companies. But what type of SaaS companies? Like, is there a specific location that you guys work with? Any specific criteria? What does that kind of look like for you guys? Larry?

Yeah, well, we work. No, the Irish market is very small, so we work both in the Irish and the UK and we're actually, the industry we're servicing at the moment is actually the insurance industry. So look, what we try and do is we develop like when we get clients in, they're looking to develop an MVP specific specifically. So we start out with that process and on the basis of, you know, they're happy with the mvp, we go in and then develop the full product room.

So. Right, that makes sense. So, so right now you're mainly working in the Ireland Insurance SaaS. That's the specific niche. Just out of curiosity, right? Have you considered, you know, reaching out to companies in, let's say North America, in other areas of Europe, let's say uk, Australia, New Zealand or just strictly Ireland as of right now.

I guess the reason we're using Ireland and border Ireland now and the UK and the UK obviously is a much bigger market is time zone more than anything else, to be honest. Jimmy. Yeah, look, we may be looking to expand. We are limited with some capacity. I'm not sure about, you know, bringing on new guys and having to train them in a short space of time that if we went out to the U.S. or you know, the likes of New Zealand or Australia. But yeah, longer term it is definitely in the pipeline.

100%. Larry. That, that, that makes sense and no, the only reason I was asking is because what we found is obviously your services, it could apply to pretty much anyone around the world. I guess you're English speaking. So as long as they are English speaking clients, these SaaS companies, insurance, SAS companies, then what you do could definitely apply in those industries as well. So, so I took a look at your site. I saw you do have a few case studies, right? I'd be curious to ask how, you know, how do you guys get those clients? I know you said you tried cold emails in the past, worked with some lead gen agencies, but what would you say is your current sales process? And you know, what does that kind of look like right now?

Be honest. You know, we've done some paid advertising and now it was expensive, but we actually did get some quality leads from that. And I do know some people in the industry and we go to some conferences as well, so we get some referrals from that. So you know, probably 80% of my business or our business at the moment is referral based, maybe not by direct people, but you know, indirectly as well. So hence why I'm looking to expand on that and have something with maybe a better degree of consistency, you know, and hence why I'm even even looking at cold email as a, as a sales channel.

100%. So it sounds like kind of your main priority with this, aside from just generating more meetings and interest, is they're looking for that consistency factor. Is that, is that right, Larry? That would be yes, 100%, yeah. No, and that's kind of the main benefit of cold emails, right, Is because a lot of people, right, they're running ads or the main source of customers and clients are word of mouth and referrals, right? Which is obviously, you know, not that consistent, although they are some of the highest quality leads that you can ever get. But what we do is we focus more so on the cold email side of things where it is more scalable and it is way more consistent if it's set up the right way. So, so I'm curious to hear, Larry, obviously, you know, you're running this software development agency. What does your team look like, right, Is you know, do you have partners? Do you have, you know, a bunch of employees? Do you do this yourself? What does that kind of look like right now?

Well, I'm, I'm, I'm the boss, so to speak. Okay, so we've got three developers on staff. I do have a CTO and a CMO as such as, well outside of the developer. So the cmo, yeah, would make some of the marketing decisions, but the end of the day, you know, the book stops with me.

So 100%. So on the aspect of sales then, right. And I guess jumping on these sales calls to talk with prospective clients, would you say that's something that you typically do or do you have a salesperson or is that kind of falls under the realm of the cmo?

It would normally form fall under the rhythm of the cmo, but like, you know, as I'd be making the decision anyway, you know, I'm, I'm happy enough to do that for now. So.

100, Larry, and, and I don't want to bombard you with questions. Right. But one of the things that was quite interesting to me was you mentioned that you worked with a few lead generation agencies and for whatever reasons it just kind of never, you know, it never worked out. Right. I'm assuming they did cold emails for you or did they do other channels or just strictly cold emails?

I think some of them did the LinkedIn as well, you know, the direct messaging on LinkedIn, but primarily cold email.

Yeah, got it 100%. And obviously they never worked out just based on your understanding of things. Why do you think that is? Is it maybe the people they're reaching out to was just wrong, they don't send enough volume. Maybe they're just not that good at writing the code emails. Why do you think that is, Larry?

Jimmy, to be honest, I think it may be a combination of all three. You know, I did give him a good chance. You know, I, I understood well that there was a lead in time for this, you know, the warm up phase. I was familiar with all of that, but what I felt was that, you know, I get in the criteria for the lead lists as such, you know, scraping those emails and I was just a little surprised with, you know, after about five weeks in, we just weren't getting anything. And then when I questioned them on one or two of the meetings, it sounded like, you know, when I questioned about how many emails are actually being sent out, I think the reference may be 202 to 300, which, you know, being familiar with the process, I felt at that stage that that probably should be a multiple of five of that, you know, as I say, volume negates. Look, as you probably well know, 100%.

Larry, and I completely agree with that statement. So it sounds like it was a combination of things. Volume, obviously at the top maybe the people you're reaching out to, which is not that good. And maybe the messaging was a little off. Right. So what I'm. What I'm curious about. Right. And kind of the reason why I asked you about those, you know, your past experiences is obviously you worked with a few lead gen agencies. It hasn't worked out and obviously we are a lead generation agency. So do you think working with us or what we do might give you a different result? Right. Obviously never worked out. Right. But were on this call. Right. What, what do you think about that?

Well, well I guess the, you know, the seeing the video and your, you know, your own case studies and the proof and all that. Like I said, I, I know and probably believe that it's a sales channel that will work. I know there's a bit of like, there's a good bit of testing to go on but. And hence why, you know, I'm mad keen to try and get some consistency in relation to lead generation. So you know, third time look at this, Jimmy, you know.

Yeah, third time's the charm. 100% Larry. So just based on what we're talking about right now, I definitely feel like, you know, we can help you out especially with what we do with the cold email space. I'd like to talk a little bit more about our services and what specifically we do before I do that I'd be curious to hear. Right. Obviously you're looking for consistency, but do you have any specific like revenue targets, goals in terms of book meetings, anything of that nature or not really at this time?

Yeah, no, I, I would like, I have an expectation like you know, our lead in time for, for, for projects, you know, are kind of in and around the three month time frame. So look, success for me would be even getting like you know, three projects. So if I was able to get three projects in kind of three month time frame, that's success for me. You know, ideally yes, I'd love more but you know, kind of walk before you can run here. So yeah, three, three projects in kind of 90 days is, is, is actually would be a success for this.

100% Larry. And yeah, no. So what we do Here at Salesway IO, our lead generation agency, I'm very confident I'd be able to help you get three clients, at least three clients in the next 90 days. I think that's kind of the bare minimum. If it's good with you, I could quickly run over with you kind of what we do, our services and how I think I can help you Is that. Is that cool with you?

That's great. Yeah, go ahead.

For sure, Larry. So. So just to know just at the top, basically the way it works is. I know you watched our video, but we are kind of a cold email agency. We work with different software development agencies, and we pretty much help them generate sales calls for the calendar, right? That's the overall idea of what we do. We do this entirely using cold emails. And there are a bunch of different parts to this. So if you have questions, feel free to stop me and ask me. But basically, the overall idea of how it works is if we were to work together, the very first thing is we would need to understand your business in much more detail, right? What you guys sell, specifically, who you guys work with, specifically, what your timelines are, what your current process is, and taking that customer from the second you sign them towards developing the MVP and building out the software for them. So we really want to understand that. And the reason why is because when we're reaching out to people over cold emails, we want to be as specific as possible in terms of your services and how specific you can help them. So that's the first thing that we do. After that, we go back and we set up all the emails, right? Obviously, we're sending code emails. We want to set up all the email accounts. We want to write all your coding scripts, want to scrape the leads, right? That's pretty standard stuff, and that's the overall idea. And then once. So that process does take 14 days, but once that process is done, we actually launch the cold email campaigns. And at that point, we're basically just testing different things. And at that point, you should start expecting replies. And obviously, replies equals to book meetings. But that's pretty much the process, right? And I know I didn't go into too much detail, so if you have any questions, I'll be happy to answer them. If you want me to go in more detail, you know, I could go in more detail as well. But what questions do you have for me, Larry?

Well, no, look, I. As I said, because I'm familiar, I am familiar with the process. To me, you know, the next question is price. What's your price?

Yeah, 100%, Larry. So the way it works for our pricing is. I did mention it in the cold emails that we sent you. We do work on performance. We do have a setup fee. It's $2500. The reason is 2500 is because we're setting up cold emails. And these email accounts does cost money. Putting all these things together does Cost money. So there is a fixed fee involved. But the way it works is every single call that we generate you, it would be $250. Right. So if we generate you 10 calls, then obviously you're going to get clients from that. But if we don't generate you results at all, then obviously you would not be paying beyond that setup fee. But that's kind of what that looks like. Does that make sense, Larry?

It was. Yeah. Bit more expensive now than the other guys I was using actually. Yeah, look, the call, one of the guys was doing a, a paper call as well and he was only charging. Now when I say he was only charging, I think it was 180 is what he was charging. So now I suppose the other side of that is I didn't get any, I didn't get any leads. So is there any way we could work on like 250 is a bit more than I'm willing to pay. Is there any way that we could work on a, you know, a close basis instead?

100%, Larry. And the way it works is because what we're looking for is more of a long term partner. Right. And that's kind of why we do that pricing model of a performance. Because obviously what we do is generate meetings. So that's within the realm of our control. We would be open to exploring a revenue share or commission based on closes. But obviously those are some elements that we can't control. Right. It's dependent on your sales team, the sales ability, stuff of that nature. So what we mainly focus on is more so getting those appointments onto your calendar so that you can close more deals and make more money. But that's kind of the over premise. And to answer your question, we wouldn't be able to start with a commission or based on closes just because those are elements, you know, we can't control. Your business person. I'm a business person. That's just how it works. But it is something that we'd be open to exploring down the line. Right. So that's, that's kind of how that works. Right, if that makes sense.

Okay. Okay. So would you do any option like, you know, maybe including the first few calls as part of the setup fee, you know, that would be, that would be closer to our goal, for example, 100%.

And when you say adding a few costs into the setup fee, do you have anything in mind, like a specific number, what that could look like?

Well, I suppose, you know, maybe, you know, maybe the first three, something like that and you know, to just cheapen the Deal for us and make it more attractive.

100%. Yeah. No, I completely understand. We could do three. The only thing I'd say is, you know, if I could get, I guess your commitment basically. Right. If. If we were able to include the first three calls into the set of feet and obviously the performance will kick in after those three calls. So for example, the fourth call, the fifth call, the sixth call. Do you think this is something that you'd be interested in getting started with or not really?

No, that's. Yeah, no, that's something I would be interested in getting started with.

Yeah. 100%, Larry. Awesome, man. So where do you want to go from here then?

Right.

Obviously we talked about how it works. I know you had some questions about the process. Hopefully it answered them. And we talked about the investment and what that could look like in terms of the setup fee and the performance model. So where do you want to go with this from here?

Yeah, well, look, listen, I'm. At this point I'm probably key. Look, I'll try it out. That's the way I would view it. Bit skeptical, Jimmy, still. But you know, as I said, I was impressed with your VSL and your. And your case studies. So look, I am willing to give this a go. But have you got some sort of an agreement or something I'd like to take a look at first just to make sure that, you know, we cross the eyes and. Sorry, cross the T's and dot the eyes.

Yeah, yeah. No, no, of course. You know, we do business by the books. Everything we do has agreements. Everything we talked about. The guarantee, the set of fees, the performance, all of that stuff is written down on the agreement. I know you mentioned you are a little bit skeptical. Is there anything in specific that you're a little bit unsure of? Maybe the process, how it works, anything like that?

Oh, not really, Jimmy. It's more like as I said, look, I've had success and I've had two goals of it already, you know, so that's purely, you know, it's not on a skeptical of your business per se. But the model, I've tried it twice and it hasn't worked. And as I said, I'm hoping for third time lucky.

100%, Larry. So why don't we do this? Right? What I could do is I could send you over the invoice for the initial setup fee. I'll put together the agreements right after this call talking about what's included as part of the setup fee. The first three calls and then the performance model. What's the best email to send you over the invoice and agreement to email.

That we had here on the zoom call. So, yeah, you can use that one.

No worries, Larry. So I sent you over the invoice. I'll send you over the agreement. I'd be curious to hear in terms of timelines, right. Mainly so that I could go back and estimate for my own business. When do you think you want to get started?

Well, to be honest, you know, this is something I want to start asap. So, you know, if you. Yeah, I go check my email now and, you know, if I like what I see in the agreement. Let's. Let's look at getting maybe this kicked off next Monday.

100%, Larry. So while I have you on this call, obviously the first step is setting up the onboarding call where on that call, I want to understand your business and put together your offer and all of that stuff. Why don't we set up the call right now and obviously I'll pull up the calendar booking the call. Awesome. Larry, it was a great chat today. I'm very confident that I'll be able to help you get three clients in the next 90 days. I think that's very realistic, very feasible. Just let me know once the invoice is taken care of, and we'll get started with the client onboarding process right away.