Customers are the foundation of any
salesperson's success, which makes new
buyers an important part of a long and
profitable selling career. To find the buyers
that bring in more sales, you need to start
with effective prospecting habits. Once you
know how and whereto look for new customers you can make sure you never run out of them. To help maintain your own steady supply of prospects, start with these six tips:
1. Know your customer.
Thorough customer knowledge not only helps you serve them more effectively, it can also tell you where to look for good prospects. Make a list of specific criteria your current customers meet, including size and type of their business, amount of income, the markets they serve, market strength and buying power. Let your list tell you where to look for similarly qualified prospects. Ask your customers for referrals and information about their associates that might provide you with more leads.
2. Design a prospect profile form.
Before you begin your prospecting efforts, create a form to use as a guideline to search for new opportunities. Your form should contain spaces for all pertinent information on your prospect: company name, address and phone, key contact names and titles, product or service description, definition of primary needs and so on. Leave extra space on the form for notes so it is easy to revise and expand. Develop a rating system to help you assess each prospect's potential quickly and easily.
3. Take advantage of reference information.
Business directories and other reference books can provide a wealth of information to help you in your prospect search. Many area Chambers of Commerce provide directories at minimal cost. Your local public library should also own several regional, state and/or national directories. To simplify your search you might also want to consider the Business to Business Yellow Pages or other directories or lists of leads on CD. Use your list of "perfect prospect" criteria to find promising prospects, then complete prospect profile forms for each.
4. Expand your reach.
Salespeople prospecting on a national scale should extend their search to one or more major industrial directories. The Thomas Register, U.S. Industrial Directory or Frazier's in Canada are good places to start. For an international search, consult the ABC Directory of European Production. Focus on the product or service categories similar to those of your customer base. Salespeople with a very diverse customer base can select a few key clients, target their markets and research their competitors to either target them as prospects or uncover new applications for their products.
5. Make initial contact.
With your new list of prime prospects completed, you're ready to approach some of them. Take a look at each individual company to decide on the best way to approach it. Whatever approach you choose, make sure it contains these four elements: (a) the specific purpose of the contact, (b) the benefit to the prospect, (c) two or three invitations for the reader to reply to and (d) brief instructions on how the prospect can proceed. To help establish the quality of your product or service offer testimonials from your current customers.
6. Implement sales procedures.
After you've established contact and built rapport with your prospects, start turning them into customers. Keep your selling skills fine-tuned so that you can make your prospecting efforts pay off. Be persistent. If you've chosen your prospects carefully they should be a good match to your product or service, even if they don't know it immediately.
Question them carefully and listen closely to the answers to find out how to sell to them.
Great sales and great prospecting go hand-in-hand - you can't have one without the other. And lucrative prospects are out there for the salespeople who are willing to look for them. To make your own prospecting efforts pay off more generously, develop the techniques that will help you target and locate them, then start looking. Remember - the aggressive prospector gets the sale.