In these challenging economic times, developing new business is more important than ever. You can no longer rely on run-rate business to keep you afloat. Even your most faithful customers are feeling the pinch and delaying new purchases – or cancelling programs altogether – out of an “abundance of caution.” So, if you want to stay in business, it is time to start prospecting for new business, because – believe it or not – there are still people out there who are ready to buy what you have for sale. All you need to do is find them
According to Anthony J. Urbaniak, a prospect is a person or institution that can both benefit from buying the product or service and afford to buy it. The process of identifying good prospects is called “qualifying” the prospect.
Once you have identified a list of good prospects, or leads, the qualifying process begins in earnest. The qualifying process can be divided into two basic stages: pre-call research that will help you begin to develop a profile of the needs, interests and capabilities of your prospect, followed by creating the best strategy for the manner in which you will conduct the initial contact with the prospect. In the end, you can’t be 100% certain the prospect is qualified until you begin to interact with your contact. The art and science of prospecting relies heavily on strategies for making this initial call.
Sometimes sales reps overlook the fact that developing an effective contact list plays out in stages. The goal, of course, is to get in front of the decision maker, but in many cases that person may be shielded from calls like yours. In all likelihood, you will need to identify and cultivate relationships with a sequence of contacts within the organization that will allow you to identify and explore all the opportunities within that organization while you are working your way up to the decision maker. Start by creating a contact tree that would also include spots for:
So, how do you start climbing this contact tree? This is where all the great new Sales 2.0 technology can really make things easy. Once you figure out which organizations you want to penetrate, you can go to a website like Data.com, which allows you to identify and export contact information about the key players in practically any company – sometimes for free. Also, sites like Linked In provide a process whereby you can work within your network to get people to introduce you to key contacts you want to meet in your target organizations. Once you have your contact tree clearly defined, you can start climbing that tree and uncovering the information you need to customize your proposal and win the new business that is ripe for the picking.
When you are ready to reach out to the decision maker, your efforts may still be thwarted by the fact that decision makers are surrounded by gatekeepers and mired in meetings. Boost your chances of getting through to the decision maker by calling either before or after hours, or as close to these times as possible. Decision makers often come in early or stay late so they can catch up on work before their hectic schedule kicks in. Also, calling at lunch may pay off. The decision maker is less likely to be in a meeting then, and often the gatekeeper is away at lunch!
Baker Communications offers leading edge training solutions for sales makers and sales managers that will help you address the goals and achieve the outcomes addressed in this article. For more information about how your organization can achieve immediate and lasting behavior change that will uncover new opportunities, drive revenue, and boost your bottom line, click here.
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