What is sales prospecting?
Sales prospecting is the process of searching for potential customers, clients, or buyers in order to develop new business. The goal is to create interest and convert that interest into a sales meeting with hopes that you will be able to close the deal and further convert the prospect into a revenue-generating customer.
How do you begin prospecting?
Prospecting is a process that can be tailored to anyone. And because one prospecting technique may not work all the time, it can be a very difficult process. The simplest way to get started is by developing a basic framework that can be utilized in a variety of sales processes, and then iterate when necessary. Here are a few simple steps on how you can begin creating your framework:
1. Do your research
This is the most important stage when it comes to prospecting. You want to make sure your prospect is qualified and workable in order to improve your chances of sparking their interest and confirming a sales meeting. Within this stage, you also want to prioritize your prospects and look for opportunities to develop a connection to them. Some factors you want to consider when qualifying your prospects are their constraints, key stakeholders, their level of awareness and familiarity with the offering, and whether they fit within our target market. All of these characteristics can either serve as advantages or disadvantages depending on what you are looking for when it comes to a prospect.
2. Prepare for your first contact
After you have researched and prioritized your prospects, you want to begin prepping for your initial contact. You want to gather the information you have researched on your prospects and formulate it into a personalized pitch.
3. Initiate the first contact
After you have personalized and prepped a pitch, whether it is through calling or emailing, you want to tailor your outreach to your prospect’s particular business, goal, or industry. When contacting a prospect, you want to make sure that your outreach is real, personalized, and relevant. Your goal should be to just deliver the value you can provide to them in a simple conversion. Trying to generate a sale will be premature and it could potentially cost your relationship with the prospect.
4. Reflect and iterate
You should reflect and iterate your process after each contact with a prospect. By uncovering the challenges you faced, and what went well and what didn’t, you will be able to improve your calling techniques for the future.
After your initial contact with prospects, you’ll want to follow up. Learn how to follow up effectively by reading this blog.