Steps to qualify your sales leads

Hi readers,

The process of sales involves turning “suspects” ( maybe he could be my client), to prospects ( aha!….I think he would buy from me if I could convince him)…to eventually , clients (YES! he bought from me …wooohoooo!!!)

BUT…in order to actually maximize your productivity, the star sales man has to learn the art of pre-qualifying the list of “prospects” as actual, warm, or hot leads…and thats an eclectic mix of art and science.

I have elucidated some steps that I think assist the sales rep to pre-qualify a prospect and to close the sale…

STEP 1. Define your target industries. Based upon your experience (and that of your colleagues) figure out which industries have both the greatest need for your offering as well as the money to purchase your offering. Limit your target to one or two industries at most. Now go through the generic list and scratch out everyone who isn’t in one of those target industries.

STEP 2. Define your target job titles. Within each industry there are “natural” buyers who either purchase offerings similar to yours or greatly influence such purchases. Based on your experience (and that of your colleagues) figure out the two or three specific titles that this natural buyer usually has within your target industry. Now go through the edited list from Step 1 and scratch out every remaining prospect that doesn’t have one of those two or three job titles.

STEP 3: Craft a targeted message. Based upon what you know about that natural buyer in your target industries, create a compelling message. You want a message that identifies the problem that keeps the prospect awake at night and which your offering helps to solve. The most effective messages have a high emotional content. For example- if you are selling  a video software service to a client using SMS to broadcast his marketing message, instead of saying that you are the best thing that happened after you-tube you may want to consider…” Would you consider a video software, that could compress a personal video message of upto a minute to a size that could be sent across to all your friends and business associates as a film clip, either through the SMS service or as an email?”

STEP 4: Reality-check the list and the message. At random, call four or five of the prospects on your edited list. Do not attempt to make a sale at this time. Explain that you’re trying to understand how to sell into the prospect’s industry. Ask them to confirm that the targeted individuals inside the targeted industries are actually the people you should be calling and that the message will prove effective. If there’s a disconnect, re-examine your assumptions and return to Step 1.

STEP 5: Help Marketing create better lists in the future. Make your cold calls. If you find (as you probably will) that pre-qualifying your cold calls results in a higher number of average sales per call, save yourself some time and trouble in the future. Ask Marketing to purchase or generate prospect lists that fit the demographic of your proven target. Warning: when the marketing group sees what you’ve done, they’ll probably want you to come work for them!

Happy qualifying and closing!!!

The 10 best questions to warm up a cold prospect

Hi readers,

Apologies for the sabbatical from my blogs…been busy on-boarding in my new avatar as Vice President Business Development of a great technology startup that will disrupt the social media space in the remote , rural , under-served, economically deprived, Bottom of the Pyramid Markets. The company I speak of is called GramVaani media (http://www.gramvaani.org/)

All this while I have addressed a distinguished gathering at the Rockefeller foundation‘s , Rock Talk event, and participated at the RMAI round table.

During all this, I have had the opportunity to engage with a group of very bright, young women who are raring to have a go at key account management and sales with a great new  platform that is poised to disrupt the wedding services space in India.

They posed a very good question to me- what would be set of some basic key questions that could warm up a cold prospect in the first meeting, agnostic to the vertical or the profile of the prospect (client). And I started to think on this and came up with this list that I believe would serve many who have the same question bothering them.

here goes…

  1. What can you tell me about your organization… and yourself?
  2. What do you like about what you’re currently doing?
  3. What don’t you like about your current situation?
  4. What would you like to be enhanced or improved?
  5. Have you spoken to other solution providers to address your current specific challenge?
  6. What can you tell me about your priorities and your options?
  7. What obstacles are there in the way of this initiative moving forward?
  8. What will be your criterion of evaluating different options if at all?
  9. How much have your budgeted for this proposal/project?
  10. When do you wish to start?

Try these questions with a cold prospect and write back to me with your inputs and comments…

more than happy to ideate with you !

Happy reading