Understanding the difference between prospect and customer is something that you should definitely absorb before getting into choosing suitable prospects for your business. Customers are those who have eventually made the sale while prospects are those who have the potential to turn into customers in the future.
How to improve your prospecting and focus on sales-ready leads?
When it comes to identifying who your prospect customer is, you should remember that true prospecting is not about getting into as many pitches and conversations which could be possible. Instead, you have to identify who is prospect customer and get into meaningful conversations with suitable people. Reports clearly state that successful sales teams usually tend to close out deals faster with smaller pipelines that have better and higher quality leads.
Having a healthier pipeline is vital for helping you identify and shift high-probability prospects into the sales cycle. You should definitely adopt a selective approach when covering new prospects. Have a clearly defined process of qualification which enables highlighting low-quality leads swiftly in order to ensure that you focus on the right people.
How to find the best prospect customers fast
You should have a qualification checklist in place for finding out your ideal prospects swiftly. You should not always have a very complicated process for qualifying leads.
This is a handy checklist for helping qualify leads-
- Is the prospect similar to an ideal customer- Look for the suitable demographic profile, company size, industry sector/vertical, annual revenues, employee count, the persona of the decision-makers of the company and so on.
- Does the behavioural pattern and preferences of the prospect match customers who have closed deals successfully? Check out customers who have given you success in the past and match their behaviour accordingly.
- You could have a form for lead generation on the landing page of your website for qualifying leads swiftly and pushing them on the sales cycle.
- BANT is one system for pre-qualification that you can employ for finding the best prospects faster. This refers to Budget, Authority, Need and Timing.
- Get a clearer understanding of the pain points that you can solve for your prospect.
- Tap your network and warm up prospects via referrals. Existing customers can be leveraged excellently for prospecting. Trusted referrals are more likely to cut ice with suitable prospects.
- Also check the existing customer base for finding customers that are looking to scale, whether there are other departments which could use your product/service and other opportunities for up-selling or cross-selling.
- Familiarity breeds higher opportunity. Tap into people and companies that you have previously talked to across social media, events and even on the phone. Earlier clients can also be tapped.
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Prospecting to find more ideal customers
You should be looking to efficiently streamline your process for prospecting if you have suitable customer relationship management (CRM) tools already set up. This will help you save more time with regard to outreach and research activities.
Having the right data and leveraging it well will enable finding actionable insights that you can work on swiftly in order to pre-qualify all leads by retrieving web-information and other data about these contacts.
Features of your ideal prospect
When it comes to ideal features of prospect customers, you should be ideally narrowing it down to those who have the budget, authority, need and of course, the right timing for investing in your product/service as mentioned above.
Here are some other things that will help you qualify ideal prospects for your business:
- If your suitable customer personas match with the prospect completely.
- If the challenges faced by the prospect are in sync with your solutions.
- If you have complete access to the actual decision-maker of the organization.
- If the prospect comes from any customer referral then it is also considered ideal.
- Existing customers are always ideal prospects.
- If you have already had touchpoints earlier with a prospect, then he/she could be added into the ideal
Developing a thorough understanding of ideal prospects is vital for classifying, qualifying and prioritizing leads in tandem with optimizing time and overall performance when it comes to sales.
Innovative sales solutions may help you find better prospects faster
There are several innovative solutions available in today’s day and age. These are some great options for finding ideal prospects much faster and closing deals in quick time. LeadX is one such solution, empowering everyone in your organization and partners to post warm and qualified leads (based on their personal and professional networks) instantly to be handed over to the sales team.
They are incentivized with rewards and recognition for posting leads while progress on closing deals and nurturing leads is tracked in real-time across one platform. Deals are closed as a team and you do not have to spend time on identifying qualifying and filtering leads. Break sales silos while building a solid sales culture across your company.