For sales professionals, exceeding monthly quotas is always a major achievement. However, it is also short-lived as the new month begins and the meter resets to zero. Sales quotas are ever-increasing as the pressure to generate new leads mounts, which is why having a well-defined prospecting plan is crucial.
A prospecting plan involves identifying the types of prospects to target, where and how to find them, and scheduling time for prospecting activities. Unfortunately, many salespeople don't prioritize prospecting. Instead, they focus more on servicing clients after a sale is made. However, successful salespeople understand that prospecting for new business is just as important as closing deals.
The most successful salespeople allocate up to 50% of their daily and weekly activities to prospecting. They understand that prospecting is not something to be done when there are no calls to return or proposals to write. Instead, it should be an integral part of a salesperson's routine.
Element 1 - Knowing what to look for
A successful prospecting plan starts with identifying the ideal types of prospects. Salespeople should know the types of prospects that are a good fit for their products or services, including company size, location, or current vendors.
Element 2 - Knowing where and how to find prospects
Knowing where and how to find ideal prospects is also crucial. This may involve leveraging referrals and introductions, networking, LinkedIn, trade associations, social media, conferences, or picking up the phone.
Element 3 - Scheduling time for prospecting activities
Finally, scheduling time for prospecting activities is essential. Successful salespeople treat prospecting time as important as sales calls or appointments. They reserve blocks of time in their daily schedule for prospecting activities, such as researching prospects, making calls, or attending networking events.
Having a prospecting plan is critical for sales success. If you don't have one, the first step is to schedule time to create one. Remember, prospecting is a crucial part of the sales process and should be given the same priority as closing deals. By implementing a well-defined prospecting plan, sales professionals can stay ahead of their quotas and generate more business.
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Jim brings over 35 years of sales, management and marketing experience to the "training table." He has coached hundreds of business owners, sales executives, managers, and corporations to help them achieve greater levels of success and productivity. His areas of expertise range from sales and management training in the advertising and sports marketing fields to professional and business-to-business services, continuing education, new business development, staff hiring and assessments.
