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Prospect Vs. Selling
Prospecting and Selling are different activities that should usually be done by different individuals.
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Document Transcript:
Prospecting Vs. Selling
Fred E. Miller
Kim Demotte's 'Catch & Release' Process states: "There is a distinct difference
between Prospecting and Selling.
Prospecting is sorting and sifting.
Selling is persuading.
Ideally, different people should do these separate functions."
He is correct.
Unfortunately, many salespeople confuse the terms, and waste major time working
on minor possibilities. Being 'busy, busy, busy' doesn't mean someone is being
productive.
Sad, but true, everyone is not a prospect for your product and/or service.
If I were selling extreme-cold winter clothing, full-page ads in the Miami Herald
might not be the best use of my funds!
Additionally, there are many who are prospects, but don't feel enough 'Pain' to
change what they are doing and look for other solutions. 'Pain', in this sense,
refers to being emotionally engaged with the problem. For instance, aggravated
and/or frustrated with something going on in their business and looking for a way
to solve the problem. If they don't have those kinds of emotions don't waste time
with them!
In an ideal selling environment, a salesperson should only spend their selling time
with people who know they have a problem and are looking for a solution.
I didn't always believe this, and it took much convincing from Kim to change my
mind.
I had been of the school of thought that, 'as long as they're breathing they're a
prospect!'
I told him about the company that finally bought my product after 25 or more
contacts over a 3-year period. I was proud of that persistence."Wouldn't I miss a lot of business by not being that aggressive and persistent?" I
asked Kim.
"Yes," he replied, "But you'll sell so much by eliminating, quickly, those who
don't have or don't realized and admit they have, a problem that your product or
service might solve."
He's right!
Ralph Blakey stated it this way:
"I never thought it made sense to go into a large field, find a horse, put a rope
around his neck, drag him all the way to the fence and force his head into a trough
of water."
"Doesn't it make a lot more sense to find a 'Thirsty Horse'?"
You bet it does!
Have a program that finds those 'Thirsty Horses'!
Kim Demotte's 'Catch & Release' Process is one way to do this.
It utilizes a telephone person, making lots of calls very quickly, to eliminate those
who have no interest in your product or service,
The people making these calls are not salespeople, and are not compensated on
companies they find with a need. Their job is to get information.
It is a survey, and something I, and many of you who are salespeople, can't do
well.
If someone tells me they don't need my product or service, I almost immediately
get in the 'Selling Mode' and start asking questions: "Tell me a little bit more
about that, please, or "That's interesting, how do you do that?" (I know I can
convince them they need my service!)
The tele-prospect filtering person is not a salesperson and doesn't have the
answers to questions that are asked.
If someone asks questions to the survey caller, they can have a salesperson call
them - or not, Period!
Now, just because someone presently doesn't have a need or realize they have a
need doesn't mean they have to be forgotten forever.Kim's 'Catch & Release' Process throws them back in the pond for 60, 90, or
whatever number of days make sense to revisit them, because things change, don't
they?
New products, change of ownership, management changes, competition, and a
variety of other things can happen in the marketplace that can put the prospect in
the 'Change Mode', the sweet spot for selling new business. When major changes
are going on in someone's business, decision makers are more open to change.
Because of this, for our clients and ourselves, we add the step of getting their
email address.
Gradually a database is compiled that can be used in a 'Drip Marketing' program.
Email marketing can be an efficient part of such a campaign.
Regularly, prospects and clients can be contacted by email with new products,
services, industry trends, and a variety of other subjects that should have value for
the recipient.
One of the goals of such a program is when the emotional need for your offering
comes about; you and your products and services will be 'top of mind.'
Fred Miller is the president of FredCo, a Sales Lead Generation Service in St. Louis, MO.
He also speaks on Prospecting, Customer Service, Public Speaking, and Mind Mapping.
He can be reached at Fred@MasterMindMapper.com or 314-517-8772.
Fred E. Miller
Kim Demotte's 'Catch & Release' Process states: "There is a distinct difference
between Prospecting and Selling.
Prospecting is sorting and sifting.
Selling is persuading.
Ideally, different people should do these separate functions."
He is correct.
Unfortunately, many salespeople confuse the terms, and waste major time working
on minor possibilities. Being 'busy, busy, busy' doesn't mean someone is being
productive.
Sad, but true, everyone is not a prospect for your product and/or service.
If I were selling extreme-cold winter clothing, full-page ads in the Miami Herald
might not be the best use of my funds!
Additionally, there are many who are prospects, but don't feel enough 'Pain' to
change what they are doing and look for other solutions. 'Pain', in this sense,
refers to being emotionally engaged with the problem. For instance, aggravated
and/or frustrated with something going on in their business and looking for a way
to solve the problem. If they don't have those kinds of emotions don't waste time
with them!
In an ideal selling environment, a salesperson should only spend their selling time
with people who know they have a problem and are looking for a solution.
I didn't always believe this, and it took much convincing from Kim to change my
mind.
I had been of the school of thought that, 'as long as they're breathing they're a
prospect!'
I told him about the company that finally bought my product after 25 or more
contacts over a 3-year period. I was proud of that persistence."Wouldn't I miss a lot of business by not being that aggressive and persistent?" I
asked Kim.
"Yes," he replied, "But you'll sell so much by eliminating, quickly, those who
don't have or don't realized and admit they have, a problem that your product or
service might solve."
He's right!
Ralph Blakey stated it this way:
"I never thought it made sense to go into a large field, find a horse, put a rope
around his neck, drag him all the way to the fence and force his head into a trough
of water."
"Doesn't it make a lot more sense to find a 'Thirsty Horse'?"
You bet it does!
Have a program that finds those 'Thirsty Horses'!
Kim Demotte's 'Catch & Release' Process is one way to do this.
It utilizes a telephone person, making lots of calls very quickly, to eliminate those
who have no interest in your product or service,
The people making these calls are not salespeople, and are not compensated on
companies they find with a need. Their job is to get information.
It is a survey, and something I, and many of you who are salespeople, can't do
well.
If someone tells me they don't need my product or service, I almost immediately
get in the 'Selling Mode' and start asking questions: "Tell me a little bit more
about that, please, or "That's interesting, how do you do that?" (I know I can
convince them they need my service!)
The tele-prospect filtering person is not a salesperson and doesn't have the
answers to questions that are asked.
If someone asks questions to the survey caller, they can have a salesperson call
them - or not, Period!
Now, just because someone presently doesn't have a need or realize they have a
need doesn't mean they have to be forgotten forever.Kim's 'Catch & Release' Process throws them back in the pond for 60, 90, or
whatever number of days make sense to revisit them, because things change, don't
they?
New products, change of ownership, management changes, competition, and a
variety of other things can happen in the marketplace that can put the prospect in
the 'Change Mode', the sweet spot for selling new business. When major changes
are going on in someone's business, decision makers are more open to change.
Because of this, for our clients and ourselves, we add the step of getting their
email address.
Gradually a database is compiled that can be used in a 'Drip Marketing' program.
Email marketing can be an efficient part of such a campaign.
Regularly, prospects and clients can be contacted by email with new products,
services, industry trends, and a variety of other subjects that should have value for
the recipient.
One of the goals of such a program is when the emotional need for your offering
comes about; you and your products and services will be 'top of mind.'
Fred Miller is the president of FredCo, a Sales Lead Generation Service in St. Louis, MO.
He also speaks on Prospecting, Customer Service, Public Speaking, and Mind Mapping.
He can be reached at Fred@MasterMindMapper.com or 314-517-8772.
