In fact, when it comes to the sales process, prospecting is the part salespeople and sales development reps struggle with most, according to leaders in one study. Yet in most organizations today, sales professionals’
ability to bring in new business is a crucial skill. Without a pipeline of prospects, there’s little chance for long-term growth or even proper short-term results. Because prospects are customers-in-the-making – whether they buy today or a year from now – sales success begins with effective prospecting. Prospecting
creates a steady flow of new customers. The key is to identify those who fit your organization’s customer profile and hold the potential for becoming buyers. When you qualify the right prospects, you can build steady growth and avoid the ups and downs of sales that frustrate some sales professionals. “Prospects equal options,” says Tibor Shanto, author of Execution: Everything Else Is Just Talk!
“Master prospecting and you will be the master of your sales destiny.” Consider prospecting as the prerequisite to all the other activities that you need to do to complete a sale. Without effective prospecting, there’s no way you can be fully effective at the remaining elements in the sales process. Efficient prospecting techniques enable sales professionals to accomplish three critical tasks:
“Keep your sales prospecting pipeline full by prospecting continuously,” says Brian Tracy, author of Eat the Frog. “Always have more people to see than you have time to see them.” Brian Tracy’s advice is more than just a pithy saying. It’s a neverending quest. The most successful salespeople continually find creative ways to uncover new prospects, find ways to help them and attract customers. The Right Attitude Sets the CourseSale professionals can follow every prospecting protocol and come up empty-handed if they approach this critical aspect of selling with the wrong attitude. Prospecting, like anything else, can be viewed positively or negatively. “How we feel when we start to prospect is going to impact our success,” says Jeff Bloomfield, author of Story-Based Selling. “You have to possess a belief that what we are doing is actually helping people. It doesn’t matter what it is that we’re selling. What matters is that we’re solving a need for a prospect. If you start thinking of prospecting as just a numbers game, you won’t have much success.” Your prospecting results are highly influenced by attitude. Determination, perseverance, enthusiasm and a positive attitude are the backbones of prospecting success. Because prospecting is both art and science, the correct mindset leads to successful prospecting – and ultimately more lucrative sales. For leaders, encouraging sales professionals to “keep their chins up” or “look on the sunny side of things” – especially after rejections – is ineffective at setting the right attitude. Here’s what actually works for sales professionals:
MAKE AN ACTION PLAN YOUR PRIORITYMost sales professionals are pumped to start the day when they have a deal to close. The idea of spending the day prospecting isn’t as exciting. That’s why prospecting often gets put off until a later day … when everything else has dried up. However, if it’s a priority all the time, the pipeline will never dry up. Prospect-driven sales professionals with a clear action plan give prospecting the time and discipline it requires to be done well. An active prospecting plan includes time to identify potential customers, ways to initiate action and strategies to cultivate relationships and grow business. You plan to stay effectively busy. Make these steps part of your action plan, recognizing that the most successful salespeople include prospecting in their weekly (sometimes daily) routine.
The ideal calendar has sales pros spending 40% of their time developing and executing their prospecting plan and 60% of their time on activities with existing customers. Find Your Ideal ProspectsWhile your approach to prospecting should be planned, recognize that prospecting can happen almost anywhere and at any time. Start with solid research and analysis (plus your action plan and goals) to find prospects of interest. Know what prospects do and their likely objectives. You can find plenty of details for online searches, colleagues, press releases, annual reports, and social media. From that, choose a few of the most effective avenues for approaching prospects.
The Keys to Warm and Cold CallsThe more you know and understand about prospects’ businesses and headaches, the more credible you become during warm and cold calls of all types – whether your approach is at an industry event, on the phone, via email or social media. So, do your research and follow these keys to making effective calls: Warm CallsWarm calling has the advantage of comfort. Your call, intent, and interaction are at least somewhat expected and wanted.
Cold CallsCold calling is more of a shot in the dark – which makes it understandable that some salespeople dread or fear it. By one estimate out of a Baylor University study, just 2% of cold calls result in a meeting. However, other research from The Rain Group shows that 70% of customers want to hear from salespeople early in their buying process. That means there’s a percentage of prospects who are willing to listen to someone who can promise a better solution. Cold calling can pay off (get the Cold Calling Cheat Sheet) – it’s one of the only ways for salespeople to uncover new, previously unsuspecting prospects, people who are unhappy with their current situation, or at least willing to listen to a better offer. You just can’t give up easily: It usually takes eight cold call attempts to get through to a prospect, according to research from Telenet and Ovations Sales Group. So, approach a call or visit like this:
INCREASE YOUR SOCIAL MEDIA NETWORKINGSocial selling or social media networking will get you noticed. More prospecting can and needs to be done via the most popular business social media channels: LinkedIn, Twitter and Facebook. Here are some steps and tactics to follow.
Tips to Improve Voicemail ResponseFace it: Most prospects will see an unknown number pop up on their phones and won’t answer your unsolicited calls. So, you’re destined to get lots of voicemail and very little human interaction. To increase the chances that they’ll return your message:
Techniques for Setting AppointmentsTo increase the odds of getting appointments from your prospecting efforts:
RECOGNIZE AND OVERCOME PROSPECTING RELUCTANCE“But the enduring mantra of the fanatical prospector is ‘One more call,’” says Jeb Blount, author of Fanatical Prospecting. To become closer to being a fanatical prospector, recognize the common signs of call reluctance:
Because many salespeople wouldn’t pick prospecting as their ideal day at the office, they might try to minimize the time they spend on it. However, doing so puts your sales growth and career at risk: If you aren’t calling on prospects, someone else is. “If you’re not moving closer to what you want in sales, you probably aren’t doing enough prospecting,” says Jack Canfield, sales expert and author of The Success Principles. To overcome prospecting reluctance, and move closer to a sale:
Get Past the GatekeepersOne of greater barriers salespeople face in prospecting is getting past the gatekeeper – the one who holds the key for you to get in the decision-maker’s door. It might be PR, an administrative assistant or the company’s receptionist. While gatekeepers are just trying to do their job, you need to do yours: Prospecting. Sometimes, to storm the castle, the most useful weapon you have is a friend at the gate. Here are some ways to get through a tough screener.
What to Do When You’re Finally in Front of a ProspectWhen you finally get time with prospects, you want to use that time well. You only have about 10 seconds to make a strong first impression. Accomplish that, and you still don’t have much more than 30 minutes to captivate them. To be successful once you’re in front of prospects:
START A RELATIONSHIP BY ASKING POWER QUESTIONSWhen you’re with prospects, you want to get them to talk and become emotionally involved. Ask the right questions for the situation, and you can make a successful prospecting call. Questions that identify pain.The avoidance of a pain point often motivates people to buy more than the pursuit of a gain. To help prospects identify their pain, ask:
Questions that identify opportunity.These prospecting questions help identify weaknesses in the current situation. Ask:
Questions that impress.You can use these questions to help prospects see the value:
Know How Prospects Make Buying DecisionsBefore you have the opportunity to meet with prospects, you want to understand their decision-making process. Researchers found that they go through four distinct phases, and if you can stay on that track with them, you’ll more likely turn prospects into customers.
How to Minimize RejectionRejection is a hard reality of prospecting. There’s no avoiding it. There’s only minimizing it. To keep it at a minimum:
Best Ways to Follow Up When ProspectingWhether your prospecting efforts result in what feels like wasted time, another meeting or achieve a sale, follow-up is critical to furthering relationships with prospects. Here are follow-up tips to foster open relationships.
Related articles: The Ultimate Guide to Demand Generation The Ultimate Guide to Lead Generation What are four commonly faced situations where a salesperson may ask for referrals?The ______ ________ provides guidelines for a salesperson to ask for referrals in four commonly faced situations: preapproach, presentation, product delivery, and service and follow-up. When does the presentation phase of the referral cycle actually begin?
What should the salesperson most likely do to identify new prospects in the same territory and industry?What should the salesperson most likely do to identify new prospects in the same territory and industry? -Contact people in different departments of current client companies.
How do you get customer prospects?10 trending tips for sales prospecting. Create an ideal prospect profile. ... . Identify ways to meet your ideal prospects. ... . Actively work on your call lists. ... . Send personalized emails. ... . Ask for referrals. ... . Become a know-it-all. ... . Build your social media presence. ... . Send relevant content to prospects.. Which one of the following efforts is used by progressive sales personnel to improve the quality of the prospecting process?Which one of the following efforts is used by progressive marketers to improve the quality of the prospecting process? Shorten the sales cycle by quickly determining which of the new prospects are qualified prospects.
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