6 minute read
FOCUS
By Troy Harrison, author and sales navigator
Let’s get real about prospecting. Prospecting has changed – right along with everything else in selling. As salespeople and managers, we have to adapt and overcome those challenges, but certain things remain true. As the title says, they can’t buy from us if they don’t know that we exist. If you view prospecting as the most direct way to make sure that potential customers know that we exist, you understand how it fits into our sales matrix.
In our B2B world of selling, we have one great advantage – we know (or should know) who potential customers are. We don’t have to broadcast messages and hope that potential customers reach out – and yet that’s what entirely too many salespeople still do. I’m not big on a “crank it and hope” philosophy, so let’s dig into the realities of prospecting today.
Even the best associations rarely have 100% membership penetration into their markets. In fact, for most associations, 50% is a great number. All too often, this is because potential members don’t even know about the association and the benefits that membership can bring. Many trade associations – including some of my clients – have had great success with active prospecting efforts like the ones I describe in this article. If you’re looking to grow, maybe it’s time to get back to fundamentals. Make sure that every potential member knows about you and about what you can do for them.
Telephone prospecting
When thinking of “prospecting,” this is what we think of. Smiling and dialing, cold calling prospects in an attempt to get appointments. There are a number of sales “experts” out there who will say that this approach doesn’t work anymore. I will say, telephone prospecting doesn’t work – unless you do it. Yes, I said it; telephone prospecting from a quality database is still the best, most controllable way of gaining an audience with targeted decision makers, WITH the following caveats:
1. Working from a quality database and asking for a specific person, by name, rather than doing the “person who” call. The “person who” call is when you call the receptionist (if they even have one nowadays) and ask for “the person who handles….” etc. If you do this, you’re dead in the water. Data is too easy to obtain nowadays; databases like Data
Axle (formerly ReferenceUSA) are free through most public library systems in the United States and have complete data including contact names and titles – check and see if they have it. If not, one nearby will – there is no excuse for not starting from good data. 2. Contact-to-dial ratios are lower than they used to be.
Twenty years ago, you would get a contact (a voiceto-voice conversation with your targeted decision maker) on every second or third dial. Now it’s more like every fifth. There’s no good way around this, and all the internet research in the world won’t help you increase that ratio.
3. That means that you must have a compelling and short introduction message. “How are you today?”
“I’d like to see if you’re getting quotes on,” or “I’d like to talk about” isn’t it. Have an incredibly powerful benefit statement ready (or a couple to rotate) and a good question or two ready for when they respond.
The lower contact ratios mean that you have to be really good at the prospecting conversation; the law of large numbers won’t help here. If you’re working from a good database of well targeted prospects, have a compelling approach and are enthusiastic, you should be getting an appointment on every two to three contacts.
What about other ways of prospecting? There are others, of course – but their percentages are lower. Still, prospecting in the 21st century means being adept at all of them.
Email prospecting
Email prospecting is probably the lowest-percentage form of prospecting. If doing an e-blast to prospect, you really should be doing more than 200 at a time, at a minimum. Even then, it might not get a return email or call. The “delete” key is too easy. Here are a few tips:
1. Don’t put an attachment in the email, not even a great flyer. This will get it spam-blocked and/or deleted more than anything else. 2. Personalize it – use the recipient’s first name, at a minimum. 3. An all-text prospecting email works best, because some email clients (Outlook, for instance) don’t open images by default. Plus, all-text looks more personal because it is. 4. Your return rates are even lower than direct mail.
Getting a 1% return rate on a cold email blast means it’s done great – 0.1% is more typical.
LinkedIn is the only social media prospecting worth discussing for B2B selling, in my opinion. Sure, some are having some luck on Facebook, Instagram or Twitter, but in the B2B world, that’s an exception. LinkedIn is where
continued on page 26
Wichita Topeka Kansas City
HALFWAY BETWEEN EVERYWHERE
• Conference Center • Advanced Technology • On-Site Catering • Convenient Parking • Versatile Space • Competitive Rates
emporia.edu/union 620-341-5443 schedule @emporia.edu visitemporia.com/meet 800-279-3730
continued from page 25 decision makers live, and one might be able to get some new prospects here – but you have to work carefully.
1. Do not immediately hit someone with a sales message when first connecting (this will result in a disconnection more often than not). LinkedIn leads must be nurtured rather than attacked. From the time of connection to the time of the first sales message should be at least three messages (nonselling) and four weeks. Minimum. 2. Post often – once per day is ideal, so that it shows up on peoples’ timelines. 3. Engage – make sure to be reading, liking and commenting on others’ posts, particularly targeted contacts. 4. Even so, recognize that LinkedIn leads will be a minority of incoming leads, unless one is very lucky or very good.
Text message prospecting
I do not recommend a text message as a first contact, under any circumstances – there’s no quicker way to get blocked permanently.
BE HEARD.
INSPIRED MARKETING SUPPORT FOR ASSOCIATIONS
// WEBSITE DESIGN & HOSTING
// NEWSLETTERS
// SOCIAL MEDIA CONTENT
// GRAPHIC DESIGN
ARE YOU READY TO BE HEARD?
One conversation can change everything.
785.843.1234 // create@treefallmarketing.com
treefallmarketing.com
So, what does my preferred prospecting mix look like, assuming it’s done based on the above guidelines? From a time allotment standpoint, I’d suggest 70% telephone prospecting, 20% LinkedIn and 10% email. Results, of course, might vary – but this is what I’ve seen work across industries and geographic areas. Remember the title of this article – they can’t buy from you if they don’t know you exist. Let them know you exist. F
Troy Harrison is the author of “Sell Like You Mean It!” and “The Pocket Sales Manager” He is also a speaker, consultant and sales navigator. He helps companies build more profitable and productive sales forces. To schedule a free 45-minute sales strategy review, call 913-645-3603 or e-mail Troy@TroyHarrison.com.
Harrison
701 N. Kansas Ave. Topeka, Kansas 785.251.6944 parks.snco.us
Built in 1927 and restored to its original grandeur, this former Union Pacific railroad station offers several event spaces: the Grand Hall and Mezzanine (up to 200 people), and the East Gallery (up to 100 people), which together, can hold up to 300 people. A conference room, suitable for small business meetings of up to 12 people, is also available.
