In today’s competitive landscape, scoping out potential prospects and convincing them to invest in your business requires more strategy than it used to. In order to maximize numbers, Sales Reps are constantly embracing new strategies, techniques, and tools that help them target the right people every time.
We know that prospecting is an important part of the sales process for converting leads into customers, but it’s also important to know the best prospecting practices to stay ahead of the curve!
What is Sales
Sales prospecting involves identifying potential customers (prospects)
by developing a database of qualified leads and then systematically
communicating with these leads to generate sales.
It’s important to note the difference between a lead and a
prospect. A lead is a potential
customer who has shown interest in your business. For example, they might have
visited your website or signed up a weekly newsletter. They might not fit your
buyer’s persona and may not be ready to make a purchase at the moment, but your
business is on their radar.
A prospect is a lead
that aligns with your buyer’s persona. They are interested in what your
business has to offer and possess the ability to make a purchase.
Understanding the difference between a lead and a prospect
brings you one step closer to moving through the sales funnel; converting leads
into prospects and closing on more sales.
Customers expect businesses to anticipate their needs and
offer appropriate recommendations before they even initiate contact. When your
sales team is successful in determining, prioritizing and quantifying customer
pain points, they can position your business as a solution and offer a more
differentiated pitch for those customers.
Poorly managed leads, coupled with a decline in sales
productivity, cost businesses $1 trillion annually. Having
a prospecting process in place helps you target the right people so you don’t
spend hours chasing an unresponsive, cold lead.
With effective prospecting, you can adopt a more targeted
approach to selling by identifying the decision-makers early on.
Grow Your Pipeline
While prospecting creates lasting results, 40%
of salespeople say it’s the most difficult part of the sales process. Knowing
this, it’s important to plan ahead to incorporate time into your schedule to
focus on your prospecting efforts. By blocking off time to prospect, you’re
actively filling your pipeline, which often results in more conversations and
better win rates.
Regardless of which stage of the sales cycle a potential
buyer is in, you should always keep a prospecting mindset and be ready to learn
about their business needs and how you can best meet those needs.
Now that you have a better understanding of prospecting, start committing the time and resources necessary to make it a successful part of your business strategy for the New Year!
Proforma is the leader in the printing, promotional products and packaging industries with a creative edge to add impact and value to your programs. Get in touch to learn how Proforma can help you achieve your marketing and overall business goals.