Success breeds success. Just about anyone can identify who the “Top Dog” salesperson is in their company. They often are easy to spot — just look for the person with the great smile, great car and great clothes. They probably have the biggest commission check, too. But these are the results of success, not the cause. So what causes their success? What do they do and — equally important — not do that makes them that way?
This month we’ll look inside success and discuss the one key area that absolutely will assure the success of every salesperson and, therefore, their company: The Sales Prospect Pipeline a.k.a. the Sales Funnel. Using a funnel is a great way to visually depict the sales process: Just dump a sizeable number of good prospects and potential buyers into the top of the funnel and out come a steady stream of new customers. Sounds easy? Not so fast. If it was that easy, we wouldn’t value salespeople as highly as we do and pay them the big bucks. Finding those prospects and getting them into the funnel is no easy task. It takes time, patience, tenacity, knowledge and, most importantly, the ability to understand clients’ needs and then show them how a decision to use your products and services is their best business decision.
So where do we go to find these prospects? Using a fishing analogy, we would go to waters where there were lots of fish available — think fishing in Alaska when the salmon are running upstream. We also could go fishing where there are fewer people fishing — think a lake reachable only by a long hike or seaplane. In these two examples, we identified more prospects in one case and less competition in the other. Both are good strategies and both require a little thought, research and planning. Where can you go to find either or perhaps both?
Work your base. I am often surprised when working with clients that they overlook a place to fish that is often teeming with prospects and is one of the best and fastest ways to build their pipeline — the existing customer base! We recommend to our clients developing a program to contact every active and maybe even inactive customer on a regular basis. A phone call, visit or, depending upon their size and potential, a breakfast or lunch are all good ways to uncover opportunities and increase your sales funnel. One of the best things about selling to existing clients is they already know you. If your service has been good, the sales process should be easier, shorter and potentially more profitable. So work your base.
