Choosing the right prospect, to invest your sales energies, is one of the biggest execution challenges. All of us have heard and read volumes, about importance of TIME. Wisdom of time is the key, to build any successful sales career.
Through this article, I wish to share my observations of investing our sales energies at the right prospect.
- Choosing the right prospect, for making first level contact and decision to invest more sales energies on that particular prospect, is as key as, defining our target customers, at strategic level.
- Choosing wrong prospect to invest your energies, will be a double loss. 1. Your sales energies go in vain, 2. You loose an opportunity to focus on, truly potential prospect.
- We hardly witness over 20/30% conversion of prospect to order in many situations, because, we don’t choose our prospect scientifically.
Principles of choosing the right prospect to invest your sales energies:
Finding a fit between product life cycle and customer class
- Your prospect selection should be based on your product or organization stage.
- The class of customers you must be focusing on at each stage is mentioned in Image A.
- Please read more on the class of customers to understand the nature of each class of customer.
Core Benefit Analysis:
- Keep evaluate the prospect based on the core benefit. Do they really reduce significant pain by choosing our offerings or do the enjoy enough pleasure?
- The ultimate benefit of any product or service is based on two core emotional benefits: Pain and Pleasure. The benefit analysis can be done at various levels. One such example is mentioned below, for two different offerings: 1. Audit firm offering Compliance Service 2. A Cafe offering chocolate tea.
- The insights from the above analysis, can also be used to define the one of our sales and marketing communication.
Choose prospect based on facts and data not on convenience or mere hope
- Many fail as, most of our choices made, are based on convenience or assumptions or hope but not on logic, facts and data.
- Mandate profiling of existing customers and learn their different characteristics to improve your definition of new prospects. If you don’t have any existing clients, start with the core benefits of your offering and define the prospect profile and characteristics.
- Encourage your teams to invest time in collecting more facts about your prospect that satisfies the characteristics of your existing customer or target customer.
Choosing a prospect based on convenience, is waste of time; Choosing a prospect based on assumptions / hope is, spend of time; Choosing a prospect based on data and facts, is investment of time.
Hope you find this article worth reading.
#sales #customer #prospect #TheSalesExperiements #MRSalesLab