Proactive Perpetud Prospecting Howto keep your pipeline full

By Donna L. Cohen

Q ALES strategies have changed dra\)matically over the years, but it's still all about prospects. Or more precisely, how well you prospect. Without an ongoing, revenue-producing prospecting plan, you may find yourself at the end of the month with an empty pipeline and a head filled with fear and panic. You have boxed yourself into a corner with no choice but to make 100 cold calls, in one day, just to get back in the game.

The old school of prospecting relied on approaching large numbers of people with a generic script. We used to say, "Throw enough stuff on the wall and something has got to stick!" The new way emphasizes a plan with a variety of approaches (calls, email, letters, faxes, etc.) customized to the prospect. It is targeted, strategic and unflagging. I call it Proactive Perpetual Prospecting.

First, do your homework so you'll be comfortable with what to say and how to say it. Find out the specific problems your company solves and the value you can provide to your customers. Define and find prospects who need help solving those problems.

Here are some proactive pipeline pointers:

Sell soludons

Executives buy solutions, either to solve a particular problem or help them achieve a vision. Figure out which problems are causing the most anxiety in terms of costing money. time and resources, and your email, letter or voice mail will go to the top of the executive's priority list.

In your conversation, if you have worked with some of the company's competitors and made an impact, say so. You can even generically refer to competitors you've worked with and solved A, B and C. Also, recreate the consequences of not taking action, since that's what will create priorities and a sense ofurgency. Help prospects discover this sense of urgency by painting the picture via third-party stories or intelligent questioning. (What happens if you don't fix X or what happens if you remain status quo?)

Get their attemon

Today's downsized organizations have fewer executive or administrative assistants. which means voice mail is a primary means of screening. First rule for prospecting calls is to be prepared for either way-voice mail or a real person. Have a script or guideline at hand for both scenarios. The script should contain information you acquired based on your research-e.g., two or three major areas of concern to resolve and/or goals they want to accomplish (which. of course, your product or service addresses). Pain elimination is a stronger motivator for most people than vision creation.

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Have a script ready for conversations with the gatekeeper as well.

Full pipeline = conffdence

A key reason to keep a valid, qualified and full pipeline is to maintain a high level of confidence-your own. A full (and accurate) pipeline makes it easier to ask the hard questions, plant your feet, and walk away if the conditions are not right for a trusting relationship where you can add value.

Keep it rcd

Do an honest assessment of each account in your pipeline. What is the clear and specific next step-i.e., the commitment? If you don't have one, you either don't have a qualified prospect or didn't ask the right questions to get a clear, mutual next step. A qualified prospect always moves the process forward to a next step, whatever that might be-proposal, presentation, demonstration, trial, literature, meeting, phone call-because he/she has a problem to solve or a vision to implement; and there is a sense of urgency (which you helped create) to keep the process moving forward.

In addition, one of the biggest distractions to sales is a "leaky" pipeline (i.e., one filled with "fluffl'). When you review your pipeline and see that several names keep appearing month after month, what do you do about it? Do you know why this is happening? Typically, they're prospects who don't qualify, but if you remove them, then you must go prospect some more, and find names to replace the ones you just removed. It's easier just to pretend month after month that your pipeline is legitimate. Time to remove the fluff.

Lleet Your Obfecdves

Have you calculated how many prospect/opportunities need to be closed to reach your revenue objectives for the next two quarters? If you don't have a handle on the amount of effort necessary to generate the required level of revenue, how will you make it happen? How will you create a perpetual pipeline filled with qualified prospects?

A valid pipeline will document the steps and the time involved in each phase of the sales process. It's a guideline to help you stay on track and understand the behaviors required to achieve success. It will keep you focused on the prospect at every stage of the sales cycle. A pipeline keeps track of the entire process from target to contact, to suspect, to lead, to qualified lead, to prospect, to qualified prospect, and, finally, to customer.

A pipeline history creates a foundation for assessing your own conversion ratio and begin to fine tune efforts to streamline the process, identify bottlenecks. and win customers faster.

- Donna L. Cohen is president of sales training and consultant firm Performance Insights, LLC, Greenwood Village, Co., and author o/GO BIG...or Stay Home! Exploding Your Sales Potential & Achieving Your Financial Dreams. Reach he r v ia www.pe rformanc e in s i g ht s llc.com.

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