If you want a good prospect, you must know–what is it you’re looking for?
Just like seeking a spouse, a car, or a new home, you should start by having an idea of what exactly you’re looking for.
If you’re going to cultivate a relationship with this prospect, it would be most helpful to know the following six things.
1. What’s a great customer look like?
Think about this, if you’re getting in a car driving somewhere, don’t you want to know where you’re going? Likewise, you want to understand, “What does a great customer look like?”
You could look at your current customers. What do you like about them? What do they tell you? And what are they all about?
Taking some time to analyze these characteristics will direct you toward similar, or if you work at it, better prospects in the future.
2. Have a clear ICP.
ICP stands for Ideal Customer Profile. In fact, in our online program, we have a whole course about the ICP, Ideal Customer Profile. It’s over 20 different steps that you walk through that guide you in how to identify, “Who is that Ideal Customer?”
When you’ve got that, it is amazing how laser-focused you can be. And suddenly, when you’re prospecting, you’ll realize that you have great prospects.
3. Know the outcomes you create.
I talk about this a lot because people get too focused on what they’re selling. Don’t focus so much on the product or the service, get focused on the outcomes.
Before you can do this, it’s important to identify the outcomes. When you know what a great customer looks like, you know what outcomes you have helped them achieve.
It’s not what you sold, it’s what they were able to do.
Think about this for a moment: nobody really wants a drill bit, what they want is the hole that the drill bit will make. No, they really don’t want the hole, they want the hole in the wall. No, they don’t want the hole in the wall, they want to be able to put the picture hanger. No, they don’t want the picture hanger, they want the picture on the wall.
You see, ultimately they’re buying the drill bit to be able to hang the picture. That’s the created outcome. That’s the result that they want.
Focus on the outcome.
4. Understand their buying process.
This is so key. For example, why are you trying to prospect people in the first quarter when they make all their buying decisions in the third and fourth quarter? Why are you trying to prospect people in the fourth quarter when you know they don’t have money, instead of trying in the first quarter?
Or, understand their buying process, in terms of, “They don’t normally buy it here, they buy it over there.” Or, “They don’t normally make the decision here without making it in conjunction with this.” You see, every organization and every individual has some sort of a buying process.
It’s the same thing in terms of understanding the decision maker. (i.e. Are there committees involved?)
This comes back to understanding your Ideal Customer Profile. An ICP allows you to avoid wasting time on people who really have no ability to buy from you.
5. Level of engagement
How much engagement will the prospect do with you? This really determines whether or not they’re a good prospect. If they’re not willing to communicate with you, then they’re certainly not a good prospect.
If I can get engagement on the first call, the first contact, first meeting, I believe that I could have a good prospect.
The level of engagement allows me to also understand how best I can serve them.
Remember, my goal is to help others see and achieve what they didn’t think was possible.
6. Lifetime value
The only good sale is the one that leads to the next sale.
I want to be able to spend time prospecting, knowing that this customer can create lifetime value. Not only from them, but from others they might bring me through referrals.
It’s land and expand.
If I’m going to put the effort and the time into prospecting, I want to maximize each opportunity.
I believe these 6 tips for what makes a good prospect will help guide you toward success.
I want you to not only find good prospects, but I also want you to become the master prospector you’re capable of being.
It would help if you knew your “perfect customer” though, right? Or someone similar to them!
No idea where to start? Surprisingly, you’re not alone.
My ICP Masterclass will show you how to develop a specific ICP you can use to completely remodel your sales process–for only $59! You’ll sell more to the right people and waste less time on the wrong people.
Get access at The Sales Hunter University. Enrollment is already open and if you act fast, you’ll gain access to my exclusive webinar on July 26th.
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There’s so much to gain, I urge you to check it out!
Copyright 2021, 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.
Love the article. When I am helping to train new reps or share my business plan, it is very important to know that not every target or potential target customer is a good fit. Great words of wisdom.
You’ve highlighted some really interesting anecdotes here that can go largely unnoticed in the larger scheme of things