Sales Prospecting Guide
Sales prospecting whether using cold calling, social selling, emails or referrals is a vital sales tactic especially for new or small businesses. Prospecting and sales are not the same thing, prospecting is solely focused on searching and engaging with potential customers in order to nurture a relationship. The sales event happens once the prospect has passed some qualification criteria. The act of picking up the phone or sending a cold email can seem daunting to a salesperson, especially if they work for a company whose product or brand name might not be instantly recognizable.
50% of sales time is wasted on unproductive prospecting. [Source: The B2B Lead]
So, here is a guide for sales prospecting success:
Use Social Selling and Digital Selling to counteract lack of name recognition.
Using social selling and digital selling tactics can overcome many of the bigger obstacles for new or smaller companies. As Confucius stated “Worry not that no one knows you; seek to be worth knowing.” So, start by really understanding your value proposition and be clear about the buyer pain points and business challenges your company solves.
Givers Gain. The ability to demonstrate (visually using video or content on social media) that you understand your prospects challenges and that you can be a useful source of information to help them improve their business will result in increased relevant connections.
Share first, sell later. Sharing insights and quality information without a big sales pitch is what will get attention from buyers. Use video, case studies, whitepapers, references etc to gentle highlight the benefits of considering your business. Give examples of what makes you different, whether it is a unique product, free trials, lower cost of ownership, proof of concepts or improved performance. Seeding the benefits of doing business with you that can be viewed online will only reinforce your other sales prospecting efforts.
The first step is to create a list of unique benefits and values that will displace any perceived lack of recognition or recall. Building a social selling and digital selling strategy aimed at specific audiences will position the business as one worth considering when it comes to looking for new providers.
Know who you sell to and who will buy from you
Knowing who you want to sell to and who will buy from you are not the same. If you want everyone as a customer, you will sell to no-one. Create 1,2 or 3 Ideal Customer Profiles. In fact, focusing in on who you want to engage is probably THE most important aspect of sales prospecting. To maximize your success, ensure that you prioritize the prospects and profiles in order to improve the chances of providing value to them and their challenges.
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During the research stage, the goals to work towards include:
- To determine if the prospect is worth investing time in
- List, score, and begin to prioritize prospects
- Identify touch points (via social or otherwise) to develop a connection through content, message personalization, nurturing and influence development
Seek to Be Useful, Valuable and Relevant
Regardless of whether you try to engage via cold calling, email or social selling, you should seek to be a useful, valuable and relevant contact. Learn how to social listen so you can research their company and understand their business. What trigger events can you uncover that would warrant engaging with you. Have they just launched a new product? Hired a new CEO, moving to a bigger office, Acquired a new company? Trigger selling is where you leverage specific information to make a prospecting touch point relevant, more informed, and less cold.
Become skilled at Social Selling and Digital Selling
The fact is that while still they still deliver results, cold calling and unsolicited emails are not as powerful as they once were. They still have a place in sales prospecting if used in conjunction with social selling. This activity involves the use of LinkedIn, Twitter and increasingly Facebook as part of the sales process to raise buyer awareness towards a business and then gradually cultivating new connections. Learn to use social media to build relationships before a prospect even starts a buyer’s journey, to close the conversion gap and eventually move online social conversations into offline sales conversations. Social selling is an additive process to connect with all stakeholders, decision-makers and influencers as the buying process moves from status quo, to awareness and onto consideration.
Using your Ideal Customer Profiles, locate and list your prospects on LinkedIn, then begin by sharing quality content, be seen to add value to conversations prior to sending out a connection request. Using a highly personalized message, referencing something that will twig their interest will greatly improve their likelihood to accept your request to connect to them. Now, this can turn your first ‘cold’ call touch point into a warm call and increase the percentage of appointments or demos.
Multi-Channel Sales Prospecting Touch Points
Not one single sales prospecting touch point ("); background-size: 1px 1px; background-position: 0px calc(1em + 1px);">Social Selling, Emailing or Cold Calling) should be your entire tactic. C level executives receive over 100 emails a day and try to avoid numerous cold pitches so the likelihood of success by simply focusing on one tactic will probably deliver slim pickings.
Successful sales prospecting is about communication and getting commitments. There will always be person to person personalised communication, so learn the multi-channel techniques to overcome any lack of name recognition on calls and mails. The buying committee is now on average made up of 5 to 6 people, so think multi prospecting touch points to multiple people as part of your sales process if you want to build recognition for the business.
As buyers self-educate, getting their time and attention isn’t easy, but perfecting the channels and timing of when to engage them will dramatically close the conversion gap and increase the number sales conversations you secure.
Learn the Sales Habit Loop, Set a Daily Schedule for Yourself
It takes 66 days on average to learn a new habit, so as basic as it sounds, plan your day, book time slots for different prospecting tactics in your calendar, daily. Then persist with it and prospect. Make it part of your daily routine and give yourself a reward not just for the success but also for the effort. Selling is a repetitive job, it can be easy to dedicate ourselves to the “easier” sales tasks. Even when your sales pipeline seems full, remember over 80% of prospects make it all the way through the sales process and never make a decision. So, you must have a sales habit loop that consistently refreshes the number of sales prospects you are planning to or are currently engaging.
Never stop Learning
Take time to reassess your sales prospecting process to see what activities generated some return and which ones did not deliver.
After each prospecting campaign, take time to assess how well we:
- Found a pain point or trigger
- Were able to engage in meaningful conversations
- Uncovered challenges
- Understood the buying committee and decision process
- Gave buyers reasons to move out of their status quo
- Closed the conversion gap
Persistence. Learn, have a routine, Try, then try again, reflect, refresh, adjust and go again. And again, and again. Taking time to self-reflect will serve to further improve sales prospecting techniques for future campaigns.