Prospecting comes first!

Prospecting is not the only aspect of selling, or even the most important part, however if you want to grow your business, it must come first. 

Unless and until you know that you or a salesperson will consistently prospect for new business, what difference does it make if you or he/she is empathetic or knows the product?  

A significant predictor for success in sales is the number of contacts initiated with prospective buyers on a consistent basis!

Prospecting Research

• Across industries, the salespeople who sell the most are those who are most willing to get out and get in front of prospective buyers on a consistent basis

• They sell more because, regardless of their talent, their experience or their knowledge, they always have new people to sell to

• They're visible and they manage their visibility so that customers know who they are and what they can do

• 80% of all salespeople fail to complete their first year because of prospecting distress where their energy is directed towards coping rather than prospecting strategies 

• 40% of experienced sales people report one or more episodes of call reluctance severe enough to threaten their career

• The hesitation to initiate first contact with prospective buyers on a consistent daily basis is responsible for the failure of more competent, motivated, capable revenue generating people than any other single factor. Nothing else even comes close

•  Despite content or quality, no training can earn back what it costs until and unless sales people initiate contact in sufficient numbers with new and existing clients

•  Filling the shoes of an elite sales performer requires high energy, goal focus and minimal contact inhibiting behaviour (hesitation)

• The burning issues facing sales managers today is not overloading their people with even more training on how to manage time, provide service excellence or make customer friendly sales presentations. The critical issue facing sales management is getting people to apply what they've learned.

Why sales matters to you & anyone in your business

• Relationship of Prospecting to Sales = Critical
• Relationship of Sales to Revenue Growth = High
• Relationship of Revenue Growth to Your Role = ?

When are your prospecting efforts too low?

When they fail to support any one of the following:

• Personal goals / organisational standards or objectives
• Existing market opportunities
• Establishing contacts within new clients
• Developing new business with existing clients

Pull & Push Prospecting Strategies

MYTH: Cold Calling is a good idea

FACT: a full battery of 'pull' & 'push' prospecting strategies are necessary to ensure that sales people invest valuable face-to-face or phone selling time with the right people on a consistent basis. 

• Multimodel Lead Generation Modes:
• Branding & Public Relations
• Website & e-mail
• Events
• Phone Calls & Face to Face
• Referrals
• Direct mail & Online Marketing

Prospecting for new customers

• Establish what a viable prospect looks like
• Decide WHO you are going to target
• Decide HOW you are going to target them:
• telephone, face to face, public seminar
• cold, warm referral, new or existing client
• pre approach letter
• Create a list of contacts / prospects
• Establish the your purpose of call
• Develop a script to guide you
• Set aside a block of time each day to make calls
• Always leave a detailed message if unavailable
• Always follow up
• JUST DO IT

About Sue Barrett and BARRETT