You’ve been given a new territory, now it’s time to find a way to get business there.
Let’s go through 10 steps to be successful prospecting in a new industry.
1. Know your value.
What’s the solution you bring to your customers? We don’t sell a product/service, we sell an outcome.
2. What’s the problem you’re solving?
The value you bring is different from the problem. If the value is the solution, then the problem is, why do your customers need this? What’s the problem they’re trying to solve?
via Amazon Prime Video on GIPHY
3. Am I converting or educating?
Convert means they’re currently buying from somebody else, and what I have to do is convert you to my company.
Or, am I having to educate because they’re not familiar with what I do, or what we’re bringing to the market at all.
Those are two different strategies, so that’s going to change how you communicate, for example the frequency and type of information.
4. Your profile.
Notice I didn’t say your customer’s profile, I said your profile. What does the internet say about you? Remember, you’re not known. They’re not going to take a meeting with you without first Googling you.
What would Google say about you? Chances are it’s going to be your LinkedIn profile.
Get more LinkedIn tips here.
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5. Create advocates.
Try to go in and change the world by yourself— it’s hard to do. It’s like boiling the ocean. Instead, focus on creating advocates.
Who are the dominant people in the industry that you can create relationships with, get to know, and can get to know you? They will help advocate.
Maybe there’s somebody in another industry that is willing to introduce you to some people in this industry that you’re moving into, or this territory to that territory, whatever it might be. You need other people to bridge the gap.
6. Build your ICP.
Even within a new industry, you’re not going to be able to sell to everybody. Narrow your focus. Get very tight on your ideal customer profile. Likewise with a territory, you can’t embrace the entire territory at one time. Focus in.
Develop your ideal customer profile in-depth with my ICP Masterclass!
7. Focus your effort.
It’s not about casting a wider net, but rather all about tightening your effort to where you know exactly who you’re going in after. Once you’ve been able to develop information on them, and you’re able to convey those insights to them, your value as a salesperson multiplies.
8. Vertical, not horizontal.
Horizontal is where you’re just going out and prospecting anybody and everybody, and the first person who raises their hand and says, “I’ll have a conversation,” you think that’s a prospect. You think that’s a great customer? What a fantastic way to become very frustrated.
Vertical is about going deep. It’s staying in your ICP.
Within that company there might be five or six people that you begin to develop relationships with. See, that’s vertical. You’re going deeply down and up, because you’re also trying to develop relationships further up in the organization. But what does this do? It allows you to become known faster because you’re focusing on fewer prospects.
9. Know your POE, point of entry.
Your point of entry is what’s the product or the service that you’re most likely going to be leading off with? When I know my POE, I can begin moving myself in that direction. That’s the piece I want to land and expand with.
In other words, when I land you as a new customer, my point of entry might be this particular product or service, that’s my land, and then I will expand out and be able to add in additional and repeat business.
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10. Play the long game.
Too many salespeople move into a new territory or industry, and they don’t stick with it long enough to be able to reap the benefits.
You’re going in and you’re a little bit like a farmer. You’re planting the seed at the beginning of the season, and you’re not harvesting for a long time. In fact, when you plant the seed, you may not even see anything come up out of the soil for the first month or two.
Suddenly things begin to take hold. Sticking in for the long game pays off. You may have to be in this industry/territory for two or three years before you get results, but they’ll come if you follow the 10 steps I’ve laid out here.
The Impact of In-Person Selling
w/ Luigi Prestinenzi
Learn how meeting with prospects helps fill in information gaps better than any email or phone call can.
Copyright 2023, 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.