Do you really know if your prospecting process matches your prospect?
A key reason why prospecting fails to work is it’s not aligned with the target audience. In order for a sales prospecting process to work, it has to fit the way the prospect thinks.
Keep this in mind.
What would happen if your sales prospecting process was 50% more effective? Chances are it can be 50% more effective — or even more — if each step of the process you’re using fits perfectly your target prospect.
The problem is far too often salespeople embrace a prospecting activity they think is going to work, when in reality they’re doing it because it’s easy.
What it comes down to is knowing who your prospect is in a much more detailed manner than most salespeople and companies realize.
Below are 10 questions you need to ask yourself about your prospects / customers.
Answering these questions is the first step in building out a prospecting process that will work for you and what you sell:
1. How many calls does it take for you to close an average sale?
2. What % of sales do you close in two calls or less?
3. What is your close ratio?
4. How long (weeks/months) does it take to close an average sale?
5. How often will your customer return to buy more?
6. Is there a time of year when prospects are more inclined to make a decision or avoid making a decision?
7. What is the average transaction amount?
8. What is the profit of the average transaction?
9. What is the 3-year value of each new customer in revenue and profit?
10. Does the customer have to buy?
Being able to answer these questions is the first step in being able to determine what your prospecting process should look like.
Increasing your effectiveness entails tailoring your prospecting process to fit the decision making process your prospects are most likely going to use.
This is why I’m a strong believer in not trying to take what works for one person, using it for someone else, and thinking you will have the same results.
Want more tips like these? Want more profit from your prospecting efforts? Of course you do! Check out Breakthrough Sales University!
Copyright 2015, Mark Hunter “The Sales Hunter.” Sales Motivation Blog. Mark Hunter is the author of High-Profit Selling: Win the Sale Without Compromising on Price.
Great post! Would have loved to have it and your book on hand back at one of the start-ups I worked for! They had just started selling the product and they had no processes, support or structures in place, nor did they seem to keep track of any of the 10 points you made.