Good prospecting for great success – Part 2

Last week, we looked at a logical and mathematical approach to determining the level of prospecting required to achieve your sales targets. This week, let’s look at the critical stages in this approach and tips on how to improve your ratio of success at each level.

Lets start at the top of the sales funnel:

1. Targeting suspects
Target the markets and niches which have a strong attraction to your product or service, rather than using a spray-and-pray approach.

2. Converting suspects to prospects
Highlight ‘what’s in it for them’ (W.I.I.F.T) or the value proposition of your product or service rather than talking about what the product or service is. For example, let’s assume you provide a direct mailing service, which has proven, higher response rates than impersonal mail. Your service enables businesses to generate a higher return on investment from their marketing efforts, or simply put, generates more sales per dollar spent in marketing. You are more likely to get your prospects attention if you talk about how you are helping your customers increase sales rather than telling them about the mailing service itself.

The W.I.I.F.T principle helps you engage your customers better whether it is communicated in spoken, written or audio-visual form.

3. Converting prospects to customers
After engaging your customer, a thorough verification of their needs, motives and expectations puts you in a position of superior knowledge. Knowledge is power. Having gathered the information you need, tailor your offer precisely to the customer’s requirements to make it compelling and persuasive.

4. Increasing customer transaction values or growing customer revenue
Once you earn the right to become a supplier to your customer, it is important to go beyond the day-to-day ordering of your product to further understand their business, its structure, processes and goals. Mapping your product or service range against their departments or potential buyers enables you to plan a better penetration strategy into their company.

In summary, you need to build good prospecting plans and develop your sales skills to enjoy great success.

I’d love to hear your comments and feedback. Click the link below to save or share this article.

Last week, we looked at a logical and mathematical approach to determining the level of prospecting required to achieve your sales targets. This week, let’s look at the critical stages in this approach and tips on how to improve your ratio of success at each level.

Lets start at the top of the sales funnel:

1. Targeting suspects
Target the markets and niches which have a strong attraction to your product or service, rather than using a spray-and-pray approach.

2. Converting suspects to prospects
Highlight ‘what’s in it for them’ (W.I.I.F.T) or the value proposition of your product or service rather than talking about what the product or service is. For example, let’s assume you provide a direct mailing service, which has proven, higher response rates than impersonal mail. Your service enables businesses to generate a higher return on investment from their marketing efforts, or simply put, generates more sales per dollar spent in marketing. You are more likely to get your prospects attention if you talk about how you are helping your customers increase sales rather than telling them about the mailing service itself.

The W.I.I.F.T principle helps you engage your customers better whether it is communicated in spoken, written or audio-visual form.

3. Converting prospects to customers
After engaging your customer, a thorough verification of their needs, motives and expectations puts you in a position of superior knowledge. Knowledge is power. Having gathered the information you need, tailor your offer precisely to the customer’s requirements to make it compelling and persuasive.

4. Increasing customer transaction values or growing customer revenue
Once you earn the right to become a supplier to your customer, it is important to go beyond the day-to-day ordering of your product to further understand their business, its structure, processes and goals. Mapping your product or service range against their departments or potential buyers enables you to plan a better penetration strategy into their company.

In summary, you need to build good prospecting plans and develop your sales skills to enjoy great success.

I’d love to hear your comments and feedback. Click the link below to save or share this article.