TECHNIQUES IN SALES PROSPECTING
OUTLINE
- What is Sales Prospecting
- Types of Sales Prospecting
- Sales Prospecting Process
- How To Qualify A Sales Prospect
- Techniques In Sales Prospecting
WHAT IS SALES PROSPECTING
The difference between leads and prospects is leads are simply potential customers who are yet to express interest in purchasing your products or services by engaging in your marketing campaign, prospects are leads who have been qualified as having a higher likelihood of becoming a paying customer.
Sales prospecting is the process of identifying and nurturing prospects (potential customers) for your products or services. The goal of prospecting is to build relationships with potential customers and ultimately convert them into paying clients.
TYPES OF SALES PROSPECTING
There are two types of sales prospecting. Sales reps can either choose to stick with one method of prospecting or incorporate elements of both.
Outbound prospecting is when you cultivate relationships with leads who are yet to express an interest in your business. Its process takes longer because you have no prior history to personalize your outreach. An example is cold calling or emailing.
Inbound prospecting is when you cultivate relationships with qualified leads who show an active interest in your business. Its process is shorter than outbound prospecting as you already have their contact information and interaction history to develop a more personalized outreach. An example is warm emails and follow-up calls.
HOW TO QUALIFY A SALES PROSPECT
Sales Prospecting Questions You Should Keep In Mind
Knowing who to go after will focus your activities and save you time. That is why you should research and evaluate a lead based on who your ideal client is before qualifying them as prospects.
- Does this lead to a fall in our target market?
- What does the lead need?
- Is my contact an influencer or a decision-maker?
- Can this lead afford my product or service?
- Is my lead likely to buy immediately?
SALES PROSPECTING PROCESS
After you have qualified your leads, it is time to start nurturing or building a relationship with them. Following a systematic process will help channel your activities in an organized and effective manner.
Step One: Research
The goal of this phase is to know how likely your prospects, their needs, and how likely they are to make a purchase based on their budget and constraints.
Step Two: Outreach
Once you have determined the quality of your prospect, connect with them using either a cold or warm email.
Step Three: Discovery Call
This is when you make that first call to understand your prospect and establish yourself as a credible authority in their space. Asking the right questions will help you know whether your product/service suits their needs.
Step Four: Inform
Using follow-up calls or emails, you use the data you have gathered in the discovery call to personalize your pitch, paying attention to their pain points and challenges. These pain points and challenges are the gaps or concerns your product/service will provide a solution to.
Step Five: Attend To Possible Objections
Do not be caught unprepared when they raise objections. Consider every possible objection and prepare answers or alternatives for them ahead of time. Be specific in how you respond, and tell them how your product/service will address their issues.
Step Six: Consistent Follow-Ups And Evaluation
Nurture your leads by strategically putting your product/service in their face with consistent calls and emails. After every outreach, reevaluate your prospects again and segment them into categories to help you build personalized relationships and know how much effort you are to invest.
Step Seven: Close
At this phase, you have built a solid relationship with your prospects and are ready to turn them into customers. Ask for the deal. Convey the value your product/service offers them. You either win the sales deal or lose it.
TECHNIQUES IN SALES PROSPECTING
- Set Aside Specific Time For Prospecting.
- Use Social Media And Digital Events Like Webinars To Generate Leads.
- Leverage On Existing Relationships (Referrals)
- Segment Your Prospects To Build Personalized Connections.
- Connect With Your Prospects Via Their Favorite Contact Channels
- Do Not Quit, Instead, Find More Creative Ways To Connect With Your Prospects.