Prospecting in a Cluttered World- Part 1


Module 1 of SELLING OFF-PLAN ACCELERATOR

The Sales Rep Guide to the Universe of Prospecting

“The brutal fact is the number one reason for failure in sales is an empty pipe, and the root cause of an empty pipeline is the failure to prospect.” ― Jeb Blount

Learning Summary

Learn how to strategically and effectively balance prospecting across the various channels to connect with the right prospects in the cluttered marketplace.

Top Sales Prospecting Challenges
The 4 Universal Principles of Prospecting
Your Strategy of Prospecting defining the Who, How, Where, When, And What of Prospecting
Creative and Efficient Prospecting Techniques
Social Prospecting
Best Sales Prospecting Tools
Prospecting has and will always be the most critical activity or discipline in sales. It what separates the superstars from the ones that are scraping by on second hand, hand-me-down leads.

Why do Sales Professionals need to prospect? When you break down the sales process, it is about offering the right solution to the right person at the right time.

Unfortunately, all these variables rarely line up on their own in the universe, and that is why prospecting is crucial for your sales success.

The target of prospecting To develop a database of potential customers, so you systematically engage with them and eventually convert them into customers

However, there are many challenges when it comes to navigating the universe of prospecting. From identifying your buyer’s persona to targeting and using the right outreach methods to maintaining zest and focus.

Lack of Prospecting Drive
Not knowing where to start from
Not knowing how
Not dedicating time to prospecting

Lack of Targeting
Not understanding their buyer’s persona
Not knowing how to work with gatekeepers
Not targeting the right people
Not knowing how to reach out to the correct prospects
Lack of research and customization
Don’t research prospects before reaching out
Don’t customize touchpoints for each prospect (Covered in depth under the P.R.M Module)
The 4 Universal Principles of Prospecting

The Principle of Causation; The Principle of Causation dictates that the prospecting you do in an extended period will eventually pay off in the future at a rate relative to your sales velocity.
The Principle of Replenishment; The Principle of Replenishment dictates that your pipeline must be replenished with new prospects so that you’ re replacing the opportunities that will naturally fall out at a rate = to your (conversation Ratio).
The Principle of Connectivity; The Principle of Connectivity decrees that the impact of daily prospecting anywhere, anytime lets you connect with the right people, for the right reasons and at the right time. Suddenly, opportunities start to materializes out of the Universe of Sales.
The Principle of Perpetual Despair; The Principle of Perpetual Despair is triggered when the lack of prospecting has left your pipeline depleted, then The probability of failure increases exponentially, and you become desperate.
Your Strategy for Prospecting

Defining the Who, How, Where, When, and What of Prospecting

“Every brand isn’t for everybody, and everybody isn’t for every brand.” – Liz Lange

The Who: Involves breaking a market into segments and then concentrating your prospecting efforts on one or a few key sections.

Demographic Segmentation is the most important criteria for identifying target markets, which is based on gender, age, income level, and marital status.
Psychographic Segmentation divides the target market based on socio-economic class, personality, or lifestyle preferences.
Buyer Personas a semi-fictional representation of your ideal customer based on demographics, behavior patterns, motivations, and goals (Buyer Persona covered in depth in Modular 4)
The How and Where: Involves how and where to find your prospects.

Deploy a multi-faceted and balanced approach to connect with more prospects.

  1. Asking for referrals
  2. Networking
  3. Telephone prospecting and cold calling
  4. Following up on leads in your database
  5. E-mail prospecting
  6. Striking up conversations

Tip: Be realistic in your expectations and be precise in your approach; for example, don’t say that you will be going to a trade show for prospecting.

The When: Involves the best time to reach out for your prospect.

Divide your day into two POWER HOURS for reaching out to prospects

POWER HOUR 1, the beginning of the day is 8:00 am to 10:00 am.
POWER HOUR 2, the end of the day is 4:00 pm to 6:00 pm.
The worst period in the day is 11:00 am to 2:00 pm.
Wednesdays and Thursdays are the best days to call leads — almost 50 percent better than the worst day which Tuesday.
Tip: Whether you decide to go with the first or the second POWER HOUR, always make your prospecting calls in the same time frame.

The How and Where: Involves how and where to find your prospects.

Deploy a multi-faceted and balanced approach to reach out and connect with more prospects. Use all available channels to reach out and connect:

  1. Asking for referrals
  2. Networking
  3. Telephone prospecting, Cold calling
  4. Following up on leads in your database
  5. E-mail prospecting
  6. Striking up conversations with strangers.

The What: It Involves what conversation with the prospect you will have and what is the end game of the contact.

A well-crafted script with the proper choice of words is very crucial in putting the prospect in the right frame of mind to listen to what you have to say.

Start your engagement as a conversation, not a one-way pitch
Easy on the artificial sales enthusiasm
Raise curiosity
Give context
Ask for permission to carry on
Ask questions
Schedule the next steps
Creative and Efficient Prospecting Techniques

Proactively Pursuing Prospects

Asking for Referrals

Have A Structure in Asking for Referrals

Referrals are the most efficient and effective way of growing your prospect pipeline.

Many sales professionals don’t ask for references because:

They haven’t characterized the sources of referrals.
They haven’t composed their referral elevator pitch.
They haven’t structured a process for asking for referrals.
Tip: Compose a statement and practice it.

Referrals Characterization

Customer Referrals: They are referrals made by satisfied customers whom you have built a relationship with and they trust you.

Focus on your satisfied clients.
Provide value first before asking.
Be specific with your request.
Develop a referral mindset.
Stay connected with your customers.
Personal Referrals: They are referrals made by friends, family, and acquaintances.

Educate your connection with what you offer.
Explain to them your buyer’s persona.
Agree with them on referral format or procedure.
Assure them that you will add value.
Keep on reminding them all the time and every time.
Professional Referrals: They are referrals made by professionals whom you have formed with a mutually beneficial relationship.

Create your Sales Professional Network.
Identify products or service your prospects might purchase alongside your product.
Reach out to sales professionals at those organizations to get your network started.
Networking

Networking Is one of the cornerstones of sufficient prospecting.

You are networking to meet prospects.
Remember that you are not there to sell, set appointments, or get leads you are there to connect with people first.
Show genuine interest in them by asking questions to build a connection.
Following up after the networking event is key to making a connection.
Telephone Prospecting

“Every single time you pick up the phone, you’re getting closer to a yes.”

The telephone is, has been and will always continue to be the most effective and efficient prospecting tool.
The phone is the most efficient way to reach out to prospects if you are, prepared and organized. (Connect Call Preparation Covered in depth under Part 2- Prospecting in A Cluttered World)

Hours Sunday to Thuresday 10 To 6
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