Every business wishes to expand their target market in order to earn more profit and help the company grow in size. One of the most effective ways of doing so would be to explore the world of prospecting.
When it comes to succeeding in sales prospecting, you have to consider that everyone you meet, from your family down to the people you have just met now, is a possible prospect for sales. You also have to be ready to hear the word No! over and over again in different tones. One good trick when it comes to prospecting? Do not take everything in an emotional manner. When you get rejected, just quickly move on to the next prospect. Time is precious, so make sure you do not waste any of it.
Since this action plan for increasing sales needs to be taken seriously and with careful consideration, we would like to help you out. There are a couple of blank spreadsheet samples that we have also included in this very article to help you make your prospecting task a whole lot easier. Tips and guidelines? We have included them here as well! You ready to find out and learn more? Just make sure to keep scrolling for more information.
Sales prospecting is a business process wherein sales representatives perform outbound calls or perform email marketing in order to create opportunities and gather leads for account executives. The goal is to search for potential customers, potential clients, or potential buyers in the hopes that a new business will be developed. The main goal when sales prospecting is performed is to turn these prospect into long-term, loyal customers. The more loyal customers, the better as revenue will always be generated.
Want to learn more about email marketing? Read up on our article about Sample Marketing Email Templates.
Whether or not you are dealing with leads or prospects, your goals are the same: be able to nurture and give importance to them until they end up buying or availing of the products and/or services that are available in your company. Here’s how you do the nurturing process from the very beginning:
Want to know what your customers think about your services? Have them fill out a sample customer feedback forms and use the results as a means of improving your lapses.
There are two common methodologies used when it comes to sales prospecting: outbound prospecting method and the inbound prospecting method. To give you a better example of each type of method, we will give a couple of examples of each type of method.
In doing outbound prospecting, you need to make sure that you do your research well. This is a time-consuming process but you want to make sure that you are well-equipped with enough information about the potential customer and you will be able to easily establish a connection.
Since inbound prospecting is already done with leads, this means that previous interaction, plus contact information are readily available, the research process is way shorter. Through the previous interactions, it will also be easier to assess the interest and purchasing behavior of a customer. This makes reaching out more personalized.
Make sure that you have a record of all the outbound calls and inbound calls that have occurred during the day. You may check out How to Create Call Log Template and Sales Call Report Samples for more information.
Inbound prospecting is way better than outbound marketing as you have some of the most vital information ready right in the palm of your hands compared to outbound prospecting where you have to do your research from scratch. In marketing, time is of the essence, so you have to be quick in terms of growing your market. Who likes getting cold calls nowadays anyway, right? Cold calling will just end up wasting your time and that is something that you can’t afford right now.
Performing inbound prospecting also helps you to pay more attention to your buyers and understand what they need and what they want. For more information, check out the Difference between Inbound and Outbound Marketing.
Want to learn more about how you can effectively market your products and services via telephone? Check out Telemarketing Tips for more information.
Most of the time, sales representatives prospect for leads on a weekly basis in order to hit quotas easier and on a regular basis. It will also depend on the needs of the company. Prospecting is usually a routine type of work that ensures that you have a constant record of old and new leads. The more leads you have, the highly likely your market will grow.
So what is the importance of sales prospecting? There are two reasons why: they increase the volume of your customers and it helps to increase your revenue.
Given that you were able to properly carry out the sales prospecting process, you are sure to attract more buyers and potential customers that you can turn into buyers. If prospecting is not performed on a regular basis, you are sure to lose buyers. Increasing your pool of buyers can make it easier for you to add revenue to your business. It’s better to have more potential buyers waiting.
The more the customers equal to more revenue. Every prospect or lead that becomes a buying customer, in the end, helps to increase the sales production of your business. With more revenue, the bigger the chance of helping your company grow over time. This is also a win-win situation for both the company and the sales representative because the sales representative can get more commissions while the company is able to increase their profits.