Effective Prospecting: Increasing Your Chances of Success

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June 16, 2016 | PJ Nisbet
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Effective Prospecting:
Increasing your chances of success

☞ BRAIN TEASER
All of the numbers between 1 and 15 are listed below except for
4 and 9. Where would these numbers fall in this sequence?
8, 11, 15, 5, 14, 1, 7, 6, 10, 13, 3, 12, 2

Answer: Think alphabetically, not numerically!
8, 11, 15, 5, 4, 14, 9, 1, 7, 6, 10, 13, 3, 12, 2
☞ BRAIN TEASER

CSO INSIGHTS top sales challenges for 2016

How to profile your ideal prospects
Understanding the activity metrics
necessary to achieve your target
Implementing a multi-dimensional approach
to getting meetings with your clients
5 practical exercises to stay on top of your
prospecting goals
Agenda

What are the
common characteristics
among your current clients?
Can you describe your best customers?
Industry
Buying Roles, Business
Issues and Problems solved
Identifying the profile

Problem
What specific problems can we help
them with, normally a combination of
people, process and technology
challenges
Business Issue
What are their likely business issues,
usually about revenue, cost, quality or
compliance
Value created by resolving business issues
Buying Roles Which job titles are most we relevant
for?

Identify sources of information
• Industry information
• Associations
• Trade Press
• Lists
• Partners
• Co-Marketing Opportunities
• Local Sales Reps
• Internal data
• Marketing Campaigns
• Past Customers
• External Data
• Lists
• Social Networking-
particularly LinkedIn

Leverage your base
Can you expand your
current customer “spend”
with you?
─Identify additional
problems you can solve
Are there additional buying
centers in your current
customers that are
untapped?
Referrals – other
companies, friends, or
colleagues who could
benefit from your services?© 2016 ValueSelling Associates, Inc. All rights reserved.

Filling Your Pipeline:
How many prospects do you need?

Target
Average Transaction Size
Total Number of Transactions Required
Average Win Ratio (Meeting to Close)
Total Qualified Prospects Required
Pipeline Ratio (Qualified Lead lead to Meeting)
Total Prospecting Year – Month – Day
For example
2,000,000
125,000
2m/125K = 16
1 out of 3
3 x 16 = 48
1 out of 5
5 x 48 = 240 per year or 20
per month or approximately
1per day

Building your prospecting campaign
Email campaigns
LinkedIn connections
Social media
Telephone calls

How do you contact your prospects
(before you phone them)?

Prospects pick up the phone
less than 10% of the time
This doesn’t necessarily mean
that they aren’t interested,
could be that they are just
busy…
What do we do with the 90%...
Connecting with your ideal prospects by telephone

Tactics for making prospecting calls
Start calling as high as you can (MD, CEO, President)
There are 5 likely scenarios…
– You get through
– You can leave a voicemail
– You can speak to their Admin/PA
– You can speak to the Admin/PA voicemail
– You go to Reception
Leave a credible message on voicemail and/or if talking to the
PA/Admin or Receptionist get a referral to another key Buying
Influence
Repeat this process for all key Power People

Tapping into the social DNAof the prospect

Credibility introduction
Who you are and what you do
That you solved a business issue or very large
problem for an organization similar to mine
What was unique about how
you solved it?
What value (financial impact)
did they receive from it?
30 second Credibility Introduction…

Persistence pays off…
90% of sales people give up after the first attempt
97% don’t make it to the 3rd attempt
Make at least 3 attempts to contact the identified
power people
3 business days is optimal between your attempts
Try and create as many “touch points” as you can
(i.e. voicemails, email, referrals, ADM dialogues,
etc.)

5 practical ideas on improving your
prospecting effectiveness
Profile organizations likely to do business with you, think
of the problems that they are likely to have
List key sources of information about these organizations
in your industry or market place
Current customers are the best source of referrals; think
of 3 clients you could ask for a referral
Gather prospect information, establish the highest level
decision maker and 3 other important buying roles
Create your compelling credibility introduction which you
can use as a basis for email, voicemail or on the first call

Schedule time
Be purposeful
Begin with the end in mind
Focus and avoid distractions
Prospecting is non-negotiable

Questions?

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For more information or questions about today’s webinar,
please email me directly at: pjnisbet@valueselling.com

Save the date!
Our next webinar will be:
5 Steps to
Overcoming Objections
August 18 | 10:00 AM PDT

Thank you!
PJ Nisbet | Managing Partner EMEA
pjnisbet@valueselling.com
+44 (0) 1440 820 384 office
+44 (0) 77 184 89422 (UK Mobile)
+27 82 779 1872 (SA Cell)

Effective Prospecting: Increasing Your Chances of Success

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