Prospecting...the Ben Feldman Way

Ben Feldman is the quintessential American Success Story...and one of the best salesmen ever. He went from a $10-a-week butter-and-egg salesman to the world's greatest insurance salesman. For 52 years he sold insurance for New York Life...from 1941 to 1993. His lifetime sales volume exceeded $1.5 billion...with 1/3 of his sales coming after he reached the 'retirement' age of 65.

He was based in East Liverpool, Ohio, a sleepy river town of 13,000 on the banks of the Ohio River...that has been steadily losing population over the years. East Liverpool's other claim to fame is that it is also the birthplace of football coach, Lou Holtz. If you passed Ben Feldman on the street, you wouldn't have any inkling about his sales prowess. He was short, heavyset and balding. When he spoke, his speech was slow and deliberate...with a distinct lisp.

How did Ben Feldman do it? How did he sell more life insurance by himself, than 1000 life insurance COMPANIES in America?

1. Hard Work. Ben worked 7-day weeks, and 12-hour days. At the end of the day, he would come home and read-and-study for another 2 hours. "It's his chief form of relaxation," his very understanding wife, Fritzie Feldman said.
2. Preparation. In Ben's words, "Read. Study never stops because publications never stop coming in. It's read and study.  And think about what you're studying. Take it apart and put it together. Ask 'why?' And know the answers."
3. Chutzpah. Each and every week, Ben made 30-40, face-to-face, in-person cold calls. No warm-up telephone calls beforehand. No pre-approach letters. No warm, referred calls. These were walk-right-in, ask-to-see-the-owner, no-apologies cold calls.

The Feldman Method. Ben's approach is best described in his own words in  "The Feldman Method," an out-of-print book that details his straightforward style.

• "I rarely use the telephone because he may not want to see me. I have a better chance of seeing the man I want to see if I do go. Besides, switchboard girls and secretaries have become very good. They've learned to take you apart. 'Who? Why? What for? What company?' You don't always get by. I seldom call on the phone. I'd rather go.
• "On calls, I just walk right in...and my first barrier is usually the switchboard operator or the receptionist. On the phone, a switchboard operator can stop me dead. But face to face, the odds are I'll get by. And when I go, I may leave something with her. You know what it is? It's a pair of little golden slippers. She doesn't know what they are until I've left and she's opened the box. They I usually get a thank you note. From that time on, I get in."
• "I'm very frank, very open. I just say I want to meet her boss, whatever his name might be. (And you'd better know his name.) The receptionist ordinarily announces me, but it's a cold call, and the odds are he doesn't want to see me. I get thrown out of more places!"
• "There are many ways of saying, 'No.' He probably won't see me the first time. That isn't so bad. Why? Because I'm coming back, and when I come back I'm no longer a stranger! I've been here before!"

A few side comments. Ben's target audience were the many small business owners who worked in the East Liverpool-Youngstown, eastern Ohio region. As also can be determined by Ben's words, he betrays an American business climate of the '40s and '50s, that was overwhelmingly male.

Also, Ben's sales calls were not 'cold,' in this sense. Before each call, he would study and prepare beforehand. He would use Dun & Bradstreet to determine who the owner and the key personnel were, and the approximate sales volume of the company the age of the owner, the corporate structure, etc.

He was relentless. If the 'boss' didn't see him, he would come back, again and again. Over time, he would make the receptionist his ally.

• "...If I call once of twice more, and if the answer is still 'No,' she'll probably begin to feel sorry for me. Now she's on  my team. She'll do her best to open the door for me. Particularly if she feels I'd be helping her boss. You've got to have disturbing things to say to the receptionist that will make her boss want to see you, just as you have disturbing things to say to the boss himself."

Ben Feldman...Salesman Extraordinaire. A relic from a different time. His quaint straight-ahead approach certainly wouldn't work today...in a day where we are all much more sophisticated and savvy with regard to sales techniques. Or would it?

More on this later.

That's all for now...Ciao!

Comments

[R'EUGENE ROTENIZER]

I just wonder with todays' HIGHLY regulated insurance and securities enviornment; how would Feldman do business today? Cold call and still sell permanent insurance or go the term way -- like his ole friend JOE GANDOLFO? Thanks....

[Ralph]

Yes, the climate has changed a lot. As a new recruit, I am asked to use the telephone extensively, preferably with persons I already know or have met. Cold calling is not recommended at all. Professionals have told me that they will not even see a person who has not made an appointment. The small town of Liverpool is now a megalopolis of continuous city laced together by business buildings galore filled with people waiting in chairs to see the owner, practitioner, or "boss'. Today's cold calling is a network of telephone lines like a spider web, waiting for some frustrated insurance agent to make an appointment.

[Gerrard !~ Lim banglacow]

so professor what is your stance on ben feldman?

would he succeed in this climate with his methods?

Personally I think nothing would stop him. It is not his methods but his unrelenting assault on excellence

[naveed]

salam please chk ur sale man ship

[Allen]

If this man is still alive, he will still be the #1 life insurance agent. No techniques or 'methods' give a man this kind of success for 52 years. It is the person that worked.

[Joe G. Garcia]

I think Ben Feldman would become so profician on the phone, that the same method of approching prospects would work for him, with just a little tweaking.

[Ruben Garcia]

Ben was willing to pay the price. Whatever it took. He worked seven days with 12 hour days. Who is willing to do this and forsake comfort, entertainmnet and every other distraction that comes at you?

[william veasey]

Ben was the best of the best. He was willing to do what others were not willing

[ms]

Feldman also slipped a $100 dollar bill along with his business card to the receptionist/gatekeeper to get to see their boss.

[Keith Andoos]

Selling is selling and people are people. You naysayers should stop over-analyzing. When I was with Merrill Lynch Video, we would interview the salespeople at the top-producing office every year. When asked, "How did you do it?" the answers were always the same:
"Icome in early"
"I stay a bit later than the others"
"I take a shorter lunch"
"I make three extra calls a day"

Sales numbers would always go up after that video was released, but would then settle back down again after a few weeks.

Consistency and good ole "Keep on keepin' on."

It ain't rocket science, folks!

Good selling!

Keith Andoos

[Bill Watchulonis]

Actually I read Ben offered the owner five crisp brand new $100 dollar bills that he showed to the secretary. Telling her to inform the boss if what he had to discuss with the boss wasn't of at least that much value he could keep the money.

[Kevin]

Yes, but how much did he or his family really live life to it's fullest, so much for being a husband and a father.... Great story. You must live life in balance.

[Adam]

Ben Feldman had the unique ability to "open" clients to eventually talking to him through what I call "Disturbances" in daily routine.

His ability to create "word spears" which, when thrown at a prospect, receptionist or whoever they were intended, caused them to "JUMP" out of their daily grind and sit up and take notice.

And you know what, all of us are more than capable of creating these word spears, presenting them in a way that causes "Open" ended two-way dialogue and in essence see's the prospect "Close Himself"!

Think about it... and I mean REALLY think about it... You'll Get It!

[puma speed cat]

Great write up. It is indeed the chance encounters with friends that can be really enjoyable.

[Jordan Jumpman]

I recently to visit your blog, reading, I very much enjoy, and above the content is great.

[RamonGustav]

Do you have a viable business but lack the necessary finances to get it off it’s feet?

[Thomas James]

Ben Feldman would have succeeded in today's world as he did in the past. Far too many salespersons spend endless hours on the telephone and neglect the opportunity to go out in the field where the prospects are. There is no replacement for persistence and face to face contact, if you have a definite plan of action.

[replica chanel watches]

I checked out this site and kind of love it I would love for more photos of the boroughs and northern Manhattan Anyone got em?

[replica chanel watches]

I checked out this site and kind of love it I would love for more photos of the boroughs and northern Manhattan Anyone got em?

[Air Jordans]

Religion has convinced people that there’s an invisible man?living in the sky, who watches everything you do every minute of every day. And the invisible man has a list of ten specific things he doesn’t want you to do. And if you do any of these things, he will send you to a special place, of burning and fire and smoke and torture and anguish for you to live forever, and suffer and burn and scream until the end of time. But he loves you. He loves you and he needs money.

[coach outlet]

Thank you for your articles which let me think about my life and find out what to do. Your blog is like a mirror.

[retro jordan 2]

he will still be the #1 life insurance agent. No techniques or 'methods' give a man this kind of success for 52 years. It is the person that worked.

[cheap nike shox]

If someone prays for patients, you think god gives him patients, or he gives him an opportunity to be patient?

[Supra skytop]

Today is not yesterday. We ourselves change. How then can our works and thoughts, if they are always to be fittest, continue always the same?

[air yeezys]

Because between love the word is heart~