Filling Your Pipeline: Finding & Qualifying Prospects. Julie Thomas, President & CEO ValueSelling Associates June 10, 2010
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1 Filling Your Pipeline: Finding & Qualifying Prospects Julie Thomas, President & CEO ValueSelling Associates June 10, 2010
2 This document contains proprietary information of ValueSelling Associates. Its receipt or possession does not convey any rights to reproduce or disclose its contents or to manufacture, use, or sell anything it may describe. Reproduction, disclosure, or use without specific written authorization of ValueSelling Associates is strictly forbidden.
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4 Today s Objectives Profiling companies and individuals who are likely to do business with you Identification of candidates that meet that criteria Leveraging your current customer base for referrals Qualification to improve effectiveness
5 The Funnel Concept The Universe Suspects Prospects Customers
6 Do you know how many prospects you need? Quota Average Transaction Size Total Number of Transactions Required Average Win Ratio Total Qualified Prospects Required Pipeline Ratio Total Prospecting Year Month - Week
7 For Example Quota 2,000,000 Average Transaction Size $125,000 Total Number of $2m/$125K = 16 Transactions Required Average Win Ratio 1 out of 3 Total Qualified Prospects 3 x 16 = 48 Required Pipeline Ratio 1 out of 7 Total Prospecting Year - Month - Week 7 x 48 = 336/yr 28/month, 7/week, 2/day
8 Make a date with yourself! Calendar activities Business development is a non-negotiable on your calendar Be purposeful Begin with the end in mind Focus and avoid distractions
9 Buying Frenzy What causes people to line up? Develop Profiles Leverage the success of one sale to motivate others
10 People Need a Reason to Change Profile Existing Clients Situation Qualities Business Issues Typical Problems Who has the responsibility to resolve the issues and problems?
11 Buying Frenzy Identify and Profile Prospects with similar situations Business Issues Problems Use reference stories that match the profile Leverage the success of one sale to motivate others and gain attention
12 Customer Centric Messaging Research Predict Business Issues Emotional Triggers Prepare Anxiety Influence Motivation What is in it for THEM Campaign
13 Identify Sources of Information Local information Business Journals Industry information Associations Trade Press Lists Partners Co-Marketing Opportunities Local Sales Reps Internal data Marketing Campaigns Past Customers External Data Lists Social Networking
14 Go Find Your Prospects Trade Shows Industry Events Company Events Charity Events Where can you meet them to warm up the introduction?
15 Leverage Your Base Can you expand your current customer spend with you? Identify additional problems you can solve Business Are there additional buying centers that are untapped? Referrals other companies, friends, colleagues, who could benefit from your services?
16 Leverage Referrals Introductions are better than names Time Value Personalization Thank you Follow up
17 Attitude is everything Think long term not short term Stay positive Why is the best question! Persistence and resilience
18 Work Habits of Top Sales People They get to work early EVERY day. They maintain personal relationships with customers. They systematize their work. They prioritize everything. They find and provide solutions.» PBP Executive Report: How Great People Sell 2008
19 Prospect Qualification Process driven not event driven Customer Specific Just because they can doesn t mean they will Reverse Engineer the Customer s Buying Process
20 Fully Qualified Prospect Should I buy this? Is it worth it? Can I buy this? Am I convinced and when will I buy?
21 Summary Set Goals based upon ultimate objectives and current metrics Prospecting is a process Prospecting requires activity Segment and Prioritize Garbage Trucks don t make good prospect Leverage your qualified prospect profiles to produce more qualified prospects You will only find what you are looking for!
22 At the End of Today s Webinar Download a copy of today s presentation from our website. Go to the Knowledge & Insights tab, scroll down and click on Webinars and then on the left-hand side of the page click on: Webinar Archive
23 Next Webcast August 13, :00 am Pacific Time Changing the conversation from price to value
24 Looking for More Information Visit the estore at Books, ValueSelling Tools, and elearning course Webinar and Newsletter Archives
25 To Contact ValueSelling Associates Julie Thomas, President and CEO ValueSelling Associates Comment on my blog:
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