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Prospects: Catch Them Early In The Game

     The constant churn in the market place means that some of your customers will be acquired and others will go out of business. Unless regularly replaced by new customers, your business will inevitably dwindle. If you are going to thrive, you must replace and add to them. This brings us to the need for prospecting. 

      As you know, prospecting refers to the front end of the sales process. It is the necessary process of identifying companies and institutions who can buy your products and services, and then arranging a first appointment with them. As with every other stage of the sales process, there are ways to do this better than others.

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"Wisdom is scar tissue in disguise."

Anonymous

     In today's economy it is not just about identifying a prospect, it is about identifying a prospect that is likely to buy. The quality of this first step can be a key determinant in your long-term success, as it will keep you focused on those who are most likely to buy. The more information you can obtain about a prospect, and the closer you bring him or her to doing business with you in the early stages of the relationship, the further ahead you are.

     Following is a two-step process to jump start your efforts:

Step One: Buy A List

     This is so simple and so obvious, yet I'm amazed at how relatively few people do this. Study your best current customers and develop a profile of what they look like. How many employees? What SIC codes? Any geographical demographics? Who are their customers? 

     Once you have a profile in place, go to the internet or the yellow pages and look up "mailing list brokers." Call two or three, explain what you are looking for and ask for a quote. The quote should include the count and cost for a list that contains the name, address, phone number, e-mail address and number of employees of the businesses that meet your criteria. For a small charge per name, you can obtain a list of companies who look the most like your good customers. That's a great way to start.

Step Two: An Offer They Can't Refuse  

      Offer your prospects a special price on a promotional product they are probably currently buying which is such a good offer that they can't refuse. For example, offer an imprinted pen or logoed mug for a one-time special purchase price. You may not make money on the deal, but if a prospect takes you up on the offer, you will have moved the sales process considerably forward. You will be on their computer vendor list, you will have a reason to call on them, and they will be predisposed to spending some time with you. 

     In other words, you may have lost a little money and gained a customer for it. Think of it as buying a customer. How much is one worth? The few dollars you lose on an initial order is a bargain.

     Apply this simple two-step process and in a matter of a few weeks, you'll have a handful of high-potential prospects who are open to doing business with you.

     Source: Dave Kahle is a consultant and trainer who helps his clients increase their sales and improve their sales productivity. He speaks from real world experience, having been the number one salesperson in the country for two companies in two distinct industries. Kahle is the author of more than 500 articles, a weekly e-zine, and five books. His latest is 10 Secrets of Time Management for Salespeople.