Prospecting: 3 Steps to the Pre-Approach
- Sylvia MacNeil
- Sep 13, 2016
- 3 min read
A prospect is a qualified lead. In my 10+ years of selling, I've seen many businesses that operate solely off of lead-lists. Typically, a list is provided and direct marketers or sellers (telemarketers, usually) are given a list to call - they are encouraged to add to the list in various ways. Now, a neophyte sales person might assume this list is qualified but a contact or a lead is NEVER qualified unless the pre-approach work has been done. This involves the salesperson doing some research. You may ask why you should do this extra work - and the answer is simple: because it will improve your appointment ratio by 30%, on average. That should be worth some effort, I should hope!
THREE QUALIFYING QUESTIONS
So, first, let's look at the list you've been given and consider some simple questions to determine who stays on the list and who to put aside: Does this contact have the budget to make a purchase? Do they have the interest in your product or product-category? Are the contact names purchasers, influencers, or users? Your list, ideally, should have names of decision-makers (provided the list is current), so it's established that they do, indeed, have the authority, If not, find out who the decision maker or purchaser is and update your list. (This is imperative!) If the lead uses the competition, the budget is determined and so is the need, so little further research is needed for this step.
OBJECTIONS AND OPPORTUNITIES - MORE QUESTIONS
Next you must determine what questions you might get asked, should you win a meeting. I imagine several scenarios, especially objection-handling. This allows me to effectively research my own product, industry, market and potential clients - all before making a call. I imagine any sort of objection and find the information to deal with these possible questions. Even if these should not arise in conversation, I have made myself a fountain of information for any of my future prospects. Another - and possibly more effective - way to look at qualifying leads is to look at their mission, profitability and vision/opportunity. This is most effective because you are putting the customer first. Consider how your product aligns with your lead's mission and if using your product will increase the customers' ability to adhere to their missions and goals. What problems occur for this customer and how can your product/service solve it (opportunity)? Does this firm have the means to purchase your product and, if not, do you offer financing? How will purchasing from you lead to fulfilling the firm's mission and put them on path for the development of their vision?
PROSPECTING STRATEGY - a 2-part process
Concurrently, you should be working what I'll call the third step of the prospecting process: creating a prospecting strategy. The Lead List is just that - a list of leads; they are by no means exhaustive. They should naturally lead you to finding additional prospects through referrals and competing companies, but you must continually grow your lead and prospect list. Here, the savvy salesperson will continue to use creativity and imagination, asking questions such as, Who are my ideal prospects? Do they have particular attitudes, opinions, interests....
Know where I'm going with this? This process involves defining (profiling) your target market. Some of your leads will fully fit the profile, while others will have many qualities of the ideal prospect. You can (should) class them into a top, second and tertiary market. Find out EVERYTHING you possibly can about these prospects.
And now you get to ask the key question: where am I likely to find the highest number of companies that fit this profile? You can use the web, your own network, find organizations, use social media, lists and directories, attend demonstrations and trade shows.... Whatever puts you in-front of your target market. Go back to step one - who's the decision maker? Do they have the money and interest? What challenges face their company and how does your product assist in creating a solution? What solutions are they currently using? Then funnel those questions down - Is there anything unique about the person or company you're approaching? Do you have a common interest, personally?
Know your prospect. Know your prospect. Know your prospect! By answering all these questions, in this order, you'll be ready to begin rehearsing your approach with confidence: the kind of confidence that increases your appointment setting ratio by up to 30%! Now that's what I call effective pre-approach work!
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