Advantages University
Your super-quick sales study guide
By Tonia Cook Kimbrough
With the economic downturn, you should consider pumping up your client base. Here are some prospecting pointers to do just that.
Three Ways
to Cull The Cream Off the Prospecting Pot
1. Examine your current client list. Look to that top 20%, which delivers the majority of your sales success. Seek hidden prospects within those organizations to build business further. If you’ve been servicing the marketing department, but not the human resources division, ask for an introduction.
2. Profile your top 20% of clients and then strategically pinpoint prospects that have the same characteristics. For example, maybe your top 20% are regional financial institutions and you work with their community outreach coordinators. What other kinds of financial organizations might have a similar need in your area? Think of credit unions, banks, accountants, financial aid offices at universities. Look for commonalities that will allow you to present yourself as the expert in that area.
3. Zero in on growth industries. Read your local business journal and newspaper religiously. When you see a certain segment of the local economy thriving, consider this an opportunity. These companies may need extra marketing to keep ahead of new competition. They may be hiring more employees; therefore their human resources department could use some assistance with welcoming, training and motivating the troops. You get the idea.
Create Reciprocity Networks |
Form a network of colleagues and vendors with whom you have an understood reciprocity policy – nothing formal, just friendly. What does that mean? Basically, if you have a client who could benefit from a service your accountant provides, pass along his card. Then he, in turn, will pass your information onto his clients needing promotional assistance.
Think of the many vendors you rely on to conduct business: your technology guru, a caterer, a printer, a sign shop, event planner, graphic designer, copywriters … the list could go on and on. Each of these people offers a point of entry to a whole new list of prospects.
Suggest a business-card swap with them. Provide several copies and ask that they please provide yours to any of their customers who they think could benefit from a promotional products specialist. A lot of good karma and business comes about through reciprocity. |
Qualify Prospects Before Investing Too Much Time
The Top Secrets Newsletter (at www.topsecretswebsite.com), by business consultant David Blaise, frequently stresses the importance of qualifying your prospects. Here are four questions he recommends to pinpoint a quality prospect quickly.
1. Does the prospect have any events coming up (open house, new product launch, trade show exhibit)?
2. Does the prospect use any business gifts (holiday gifts, customer recognition, employee recognition)?
3. Does the prospect use incentives to motivate staff, salespeople or customers to take action?
4. Is the prospect interested in improving safety in the workplace?
| Three Reasons Referrals Make Promising Prospects |
1. It’s easier to make an appointment with a referral because there’s already a basis of trust and familiarity due to your mutual acquaintance.
2. A referred prospect is already in the mood to buy. He or she likely sought out the referral from their associates because there is a need for promotional help.
3. Price isn’t usually a sticking point with referred prospects. While they still want a fair deal, they aren’t commodity-driven purchasers. Clearly, they most value expertise and reliability – thus their willingness to ask others whose opinions they value.
|
Effective Referral Program
• Ask specific questions. Rather than a blanket question like, “Who do you know who uses promotional products?” ask, “Is there another department in your company that could benefit from my services?” “Are you a member of a local business association that might benefit from my speaking about effective promotional marketing?”
• Set up a formal program and kick it off with a clever promotional campaign. Thank your current clients for their business and ask that they pass along any contacts who they think could also benefit. Tell them about specials, discounts or incentives your referral program uses to reward their efforts on your behalf.
• Include a note with each successfully completed order expressing your pleasure in servicing the account. Throw in couple of extra business cards so that the buyer can share your contact information with a colleague, delivering you a new prospect with nary a cold call.
• Always thank your clients for their referrals and promptly follow-up with the prospects they’ve recommended.
The Three C’s of Prospecting
|
Community, Charitable and Civic organizations are three prospecting arenas that can ultimately build your business. You’d be amazed how many useful prospecting contacts there are when you participate in these local groups. Immediately, you have something in common with members – you all are working toward a common goal. The relationships that result are a solid foundation upon which to prospect.
Choose organizations about which you genuinely care – a food bank or a little league – so that you’re enthusiastic in your support of the group. Your passion and commitment testify to how you conduct yourself as a business professional as well, making potential clients take note and call you when marketing problems arise. |