Should you call them three times, ten times, or even more?
Should I call them 20 or 30 times?
I’ve had prospects where I’ve had to stay in the game for months, even for multiple years because they’re large enough. They get validated via these eight questions.
I’m here to provide clarity. Here are eight essential questions to help you determine your engagement strategy.
1. Do They Fit Your Ideal Customer Profile (ICP)?
Assess whether the prospect fits your Ideal Customer Profile (ICP). If they don’t, why invest your time? Understanding your ICP is crucial for effective prospecting.
Build out your ICP in-depth in my Ideal Customer Profile Masterclass.
2. Can You Help Them?
Next, evaluate if you can genuinely assist the prospect. It’s not enough that they fit your ICP; you need to determine if your products or services will address their needs.
3. What’s Their Today and Lifetime Value?
How much is this prospect potentially worth to you?
Consider both the immediate and long-term potential of the prospect. How much revenue can they generate now and in the future? Understanding their value is key to prioritizing your efforts.
4. What’s the Sales Cycle?
How long is it going to take to close this deal?
If closing the deal will take years, think carefully about your commitment. However, if the lifetime value is high enough, it may still warrant your attention.
5. What’s the Potential for Downstream Revenue?
If landing this prospect could lead to additional sales within their network or to their customers, it’s worth pursuing them longer. This can create a snowball effect for your business.
There are a lot of companies that I’ve stayed in the game for because I know that if I land them, they’re going to put me in front of a lot of other potential customers.
6. How Are They Positioned in Their Industry?
Evaluate the prospect’s standing within their industry. For a high-profile company, I’m probably going to stay in the game longer, while a lesser-known business could pose risks. Be strategic about where you invest your time.
7. What Are Their Referral Opportunities?
Landing this prospect could lead to valuable referrals. Let’s say I’m dealing with one particular division, and this customer in turn could refer me to a dozen other divisions within the same company. Bingo! Referrals can be a game changer in sales.
8. What’s the Learning Potential?
Lastly, consider the learning opportunities. Working with this prospect might provide insights that enhance your skills or position your company favorably. Continuous learning is essential for growth.
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Understanding these eight attributes will help you decide how long to engage with a prospect. I’ve had situations where I needed to stay in touch for months or even years due to high potential, while some prospects require only brief engagement.
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Copyright 2024, Mark Hunter “The Sales Hunter” Sales Motivation Blog. Mark Hunter is the author of A Mind for Sales and High-Profit Prospecting: Powerful Strategies to Find the Best Leads and Drive Breakthrough Sales Results.
