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Let's review different prospecting methods and the level of effectiveness each delivers. You will then read about the common denominator that links both the methods and these complaints. We will define what a qualified lead is, and finally, we will review some ways to generate qualified leads using the common denominator, the telephone, to contribute to the success of sales people.
Complaints
- I am always amazed to hear sales people complain about how difficult it is to build their pipeline and therefore meet or exceed their revenue target. I often hear gripes like:
- Marketing is sending me poor leads and I am wasting my time going after them.
- Prospects don’t call me even though we have a terrific product feature set advertised all over the place.
- I call new prospects but they never return my calls
- I can’t get anyone on the phone to present what I offer with players that can buy from me.
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The other complaint I hear from companies is that their sales people are not good at prospecting. These companies know they need a better qualified pipeline. They implement what everybody else has implemented to generate leads, from email campaigns, direct mailing, trade shows, seminars, and then some. Unfortunately, it only perpetuates what has failed to create the desired outcome of effectively and cost efficiently generating qualified leads.
Upon review of these pipelines, I find that few have qualified leads. I am therefore astonished when sales people act surprised when they are not meeting or exceeding their quarterly and yearly revenue target.
Achieving sales goals and meeting revenue target are a sales person’s responsibility. It is part of the job definition. We, as sales people, have no excuses at the end of year if we have not reached our goals and made the money we want to make. Whatever lead marketing or any other part of the organization comes up with is simply icing on the cake. Therefore, it is our responsibility to prospect and create the opportunities we will need to meet our objectives.
Type of prospecting tools and methods
The University of Carolina business school published the results of a research they did, dealing with the effectiveness of different prospecting approaches. Here is a brief summary of its findings:
Even though cold calling appears to be the least effective method of prospecting, the use of the telephone is paramount to all these methods.
What is the common denominator? The Telephone
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Whether you cold call, warm call, or hot call, there is one tool you will use: the telephone. Unfortunately, here is what a telephone looks like in the mind of a sales person when cold or warm calling:
And if you are a sales person, then you know what I am talking about. Fear of rejection, being a bother to the prospect, or forcing a solution they may not need, are some of the psychological reasons people resent using the phone. Is it any wonder then why sales people dread picking up this tool to build their pipeline?
So what the sales person does is to rely on marketing to create leads and engage in any and all activities aside from the using telephone in attempt to create opportunities. Unfortunately, to be successful, a sales person has to create leads.
What are leads?
For under-performing sales people with below quota performance, every prospect, that calls in or with whom they have a beginning of a conversation, becomes a hot prospect in their pipeline. For companies that participate in trade shows, every person that scans their business card is also a strong qualified lead, right? The challenge is, at times, the prospect looks like this.
My question is: Does this look like a professional with the ability to buy what you have to sell? Does he have power to move the buying process forward? Can he, more probably than not, access unbudgeted and unallocated funds to pay for what you have to sell? Unlikely, I would say.
Never the less, pipelines are full of such leads. As soon as a prospect calls or expresses any interest in your product features, (s)he becomes a qualified one, with a smiling face and great potential, right!?
--By Philippe Lavie, President, KeyRoad Enterprises
If you would you like to minimize the struggle and equip your sales people with the skills that are required to sell more effectively in this new technology marketplace, contact us at www.keyroad.com or call us at 415-934-1449 to determine if we can assist you in achieving your sales enhancement goals.
Philippe Lavie is president of KeyRoad Enterprises (www.keyroad.com). KeyRoad teaches organizations how to sell by delivering organizational sales processes, sales ready messaging, and sales skills development workshops, in addition to consultation in the areas of leadership, marketing, messaging, value justification (ROI), pipeline management, as well as on-going strategic sales planning both domestically and internationally. KeyRoad became a licensed affiliate to CustomerCentric Systems in 2002. He operates out of San Francisco and can be reached at plavie@keyroad.com or by calling 415-934-1449
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