Finding prospects, buyers, leads and how to turn them into customers and increase revenue.
So you have a compelling product or service that you are sure that anyone who knows about it will want, now what? How do you find get in front of prospects?
First off let’s define a prospect. A sales prospect is an entity that at some point and time wants to buy and can buy. A prospect represents a solid opportunity for a sale! A prospect represents the stage after being a lead and before becoming a customer.
With these assumptions in place, how do you get their attention? A problem today is more and more things are seen as a commodity, meaning they are all basically the same except for price. Even if you have a very unique offering and did all your leg work up front you still have to fight that perception. One way to do this is by building a relationship. Selling belly to belly or face to face is becoming a lost art but it is still one of the best ways to create a fast, strong relationship. Social media and email have become an easy excuse to not connect face to face and they have frankly made salespeople lazy (mediocre ones that is). Social media (and newsletters, blogs, etc.) has its place; but to be effective it has to be systematized and routinized. You can’t do it ad hoc and expect great results! We coach our clients that If they are not going to invest the time and the effort their resources can be better spent elsewhere.
Relationship marketing is narrow but deep, these are deeper, more meaningful relationships, they have a great ROI, are easy to identify and to track. Social media marketing like Facebook, LinkedIn, Twitter, Blogs, and Newsletters are a mile wide but only an inch deep, have questionable ROI and are hard to track. If you get it right you can get a lot of activity and with a lot of activity, sales are sure to be the result as a by-product. But it’s a very different type of relationship.
As a Business Coach, we generally find that when it comes to finding prospects, look to your internal customer base and the relationships you already have. Deepen those connections and put a system in place to “touch” them on a regular basis. You have a better chance of not being seen as a commodity with them; they already know you! Your marketing should get them to know you even better. People buy from who the know, like and trust and today the consumer if frustrated and scared because of all the choices. Make it easy to buy from you because of the relationship. Insurance agents are a good example, once they get a customer and as long as they don’t do a bad job (notice I did not say, do a good job), they rarely get shopped. People renew year after year, they feel comfortable, safe, they don’t want to rock the boat and they wouldn’t know who else to trust.
Now that we have shored up our foundation of prospects from existing relationships we can expand by reaching out to new prospects, even using the existing ones to leverage additional new ones. We will talk about ways to do that another time.
Tom Schroth, aka “Business Yoda”, is an Entrepreneur, Speaker, Sales Trainer, Marketing Expert, Business Growth Consultant and Founder of WhiteBoard Group. Tom’s background is in start-ups, turnarounds, sales & acquisitions and franchises. He works with businesses to identify opportunities that will lead to increased sales and revenue using strategic analysis, marketing development and sales force improvement to help them “Perform at Their Highest Levels”. www.businessyoda.com
Do you have a business you want to take to the next level? We would love to hear from you!
Tom “at” wboardgroup.com | 888-724-7684 (888-Schroth) | www.wboardgroup.com