Business To Business Prospecting

Prospecting is the heart and soul of sales. If you won’t prospect you may as well pick up another line of work. In my 27 years of B2B sales 100% of the people I’ve seen fail did so because they couldn’t or wouldn’t prospect effectively.

Reflect about it. If you have vast presentation skills. If you are the world’s best closer. If you have a superb grasp on your technology. None of this will help you unless you have opportunities to close

Prospecting is also the most difficult portion of sales. It is a daunting proposition to approach a perfect stranger who most times does not have the time of day to give you, and who is also being accosted daily by countless other reps who possess neither skill nor polish. These hacks make it difficult for the rest of us to achieve what is at best an unpleasant task. On the other hand, if you hold your professional poise you will typically area yourself apart and get an appointment.

Prospecting is also made more difficult because it calls for effective territory management, consistent follow up, development of a strategic plan, establishment of tactical goals to meet the strategic plan, and mountains of dedication.

Gold prospectors know their geology, so you don’t spy them digging in the middle of Ohio. The same holds true for you.

What product are you selling? Who has the most need for it? Where is the bang for your buck? Where are you most likely to strike gold?

Every business you pass on the street has some obtain of copier, from a small fax to a massive two ton production honker. Hop in your car and begin knocking on every door you study. It’s definitely a thought. Is it a noble one? Don’t laugh. I’ve seen a hundred guys do honest that. They have all been flat broke and short lived.

The Value of Research

It’s been argued many times in the past that preliminary research is a raze of time and that it is more effective to simply make the call and qualify or disqualify a prospect. I disagree emphatically. There is a clear amount of truth to the philosophy that making a 30 second telephone call to qualify a prospect is better than wasting time on an hour of research. However, the psychological injure inflicted by an overwhelming number of hostile calls can be devastating.

Sales is a “head game.” The odds are against you when you are prospecting from a base that has a little chance for success based on superficial knowledge. To blindly call every account in the business directory is to invite disaster in the form of total dejection and the frustration of perceived futility.

At the same time, spending too much time researching your potential target base can be even more of an obstacle to success. This “analysis paralysis” will help reinforce your natural call reluctance and prevent you from canvassing as many accounts as you can.

The best solution I have found is a combination of both theories. It is usually easier to disqualify an account as a prospect than it is to qualify one. Most reps will dive into a massive territory trying to determine who fits the best criteria for success. While this is an important step it is easier to first discard accounts that are obviously not potential users for your product or service. Cold calling 2,500 suspects in a territory is a daunting proposition. If you can defer or completely ignore 1,700 suspects and only focus on qualifying 800 you now have a more manageable task.

This may seem counter intuitive at first, but if you think about it, by following this method, we are reducing the number of total suspects and increasing the odds of prospecting for a true prospect.

However, don’t allow your disqualification to get too easy or you’ll salvage yourself with an empty prospecting list. Support it to glaringly obvious misfits at first.

If your HR service is designed for 100 or more employees it is a waste of time to call on companies with fewer than 100 employees. What if they have 97? You can’t constantly second guess a suspect, make your decision a hard line and stick to it.

Sometimes it is not that dark and white. Let’s use telephone systems for this example. Most manufacturers are providing digital phone systems that economically support as few as 5 extensions. So, any company with more than 5 employees would be a target. Simple.

Now I’ll complicate things for you with real world factors. Most small companies will not consume the money on a new telephone system unless their current system explodes. If they are spending money on a system, they will nickel and dime you to death. You will ultimately regret selling a tiny phone system because the return is far less than the investment in time. My personal break-even point on systems was a minimum of 20 extensions so I eliminated all companies with fewer than 20 employees.

As my experience grew I learned that number of employees was relative to the type of business I was calling on. For example, a company that manufactures corrugated boxes having 30 employees may only require 10 telephone extensions as the other employees worked in manufacturing. On the other hand a law firm with 30 employees may have as many as 35 or 40 extensions.

Be reminded that selling is a trade skill, so the more you do it the better you get at it. Early on I would call every company with 20 employees and learn for myself who to eliminate.

When you are beginning your career you are better off being conservative in your estimate of the quality of a prospect. In other words give yourself some latitude in selecting target accounts. You will speak to more unqualified accounts than you probably should but at least you will not overlook a possible opportunity.

As you hone your skills identifying a rich prospecting base will become easier.

Know Your Product Application

Obviously the more knowledge of your product the better prepared you will be to present it, but all your operational knowledge of your product will not help in determining suspect accounts. When establishing your prospecting criteria you need to know your product’s application or “fit.” Place more emphasis on what your product does for a business rather than how it does it.

I could cover the benefits of every feature of a original digital telephone PBX in painful detail. If some IT engineer asked me HOW it works I’d tell him, “Hamsters!”

What benefit does my product bring to a prospect? Respond this question and only look for customers who probably have a need that would back from your solution.

If your product is human resources software designed to manage 100 or more employees it would be a waste of your time calling on companies with 5 employees. This seems to be a simple concept, but wait until your sales manager is on your back for appointments.

Many times you are presenting a product or solution designed for a specific segment. Take tax software for example. This makes the decision process somewhat academic as you would not call on doctors to sell tax return software. However, you would probably consider some other criteria to determine who among the CPA segment would be more likely to embrace your solution.

Are you getting the drift? Eliminate the accounts that are obvious non-candidates and forget about them.

The Purpose of Prospecting is Pre-Qualification.

I have heard it over and over again in my career. “The object of prospecting is to collect an appointment!” My secret to success is to add, “…with someone who has a definitive probability of having a need for your solution.”

Would you set an appointment with someone you KNEW beyond any doubt had no intention of buying your product? If you even hesitated at answering with an emphatic “NO!” apply for a job in accounting. Sales probably isn’t for you.

How do we make this determination? Ask them! Overcoming the learned behavior of being indirect when talking to a complete stranger is a difficult task, but one that needs to be accomplished to succeed in sales. Believe me; they appreciate your desire not to waste time as much as you should.

If you knew before hand that a prospect was not eager in or prepared to pay for your solution would you waste the time to sit in front of him for an hour? Obviously not. What’s worse is that you may find prospects out there with time on their hands that will kill hours of your time and resources only to turn you down at the end.

In business to business sales the key to success is matching solutions. If there is no opportunity for a prospect to use your solution in any way shape or manufacture, it is a waste of time to set an appointment there.

A Word on “Creating Opportunities”

There is a philosophy I’ve heard that states that truly huge sales people can “construct” an opportunity. I don’t subscribe to it. In fact, I think it’s crap and I’ll tell you why.

A truly spacious rep can identify an opportunity even if the prospect can’t see one. This assumes that the existing business environment is conducive to benefit from our solution, but the prospect hasn’t yet been educated to the value of your solution. They make widgets. They aren’t experts at payroll.

This is a critical concept to understand. If you don’t grasp this, you will waste a great deal of time chasing your tail on a prospect that has no chance in hell to discontinuance, because you are hopeful that you will be able to create a need.

If you can’t clearly define a value to the prospect in your own mind, walk away and find another prospect.

If you are certain in your conviction that you bring a value to the prospect, but haven’t been able to explain it in their mind, stay with it for years if necessary. Just be honest with yourself.

Bear in mind that when prospecting for an appointment it can be unsafe to over qualify the narrative before you get there and lose the appointment. It is equally dangerous to under qualify an appointment and destroy a boatload of time on a solid loser. In the beginning, however, it is better to go on some un-qualified appointments rather than risk missing an opportunity.

Time and experience will boom you what a worthwhile appointment looks like.

Always Start At The Top

It is far more difficult and time consuming to get to the highest authority in the company, but in the end it is worth the effort and aggravation. This is particularly true when you are providing services or other intangibles.

There are a number of good reasons for this tactic:

• Someone at the top of the ladder will have a better overall or strategic view of the company and will be in a better place to settle the value of your service or product. The lower down the ladder you are working, the more price and commodity driven the sale. A CFO will judge a global document management solution. The office manager will retract a copier.

• Your profit margins will be higher if you start at the top. If the final decision maker chooses to allow an underling to “gather the proposals for review,” it comes down to price. The information gatherer will do a thorough comparison, and then atomize it all down into a spreadsheet for Decison Maker to witness at. Decison Maker will diligently ensure that he is looking at “apples for apples” and pick the lowest heed.

• You will have gotten your name in front of the final authority. This will make a difference if your competition hasn’t made the effort.

• Even if you get delegated down, your credentials are that much stronger. “The boss wanted me to reach out to you to take a look at this.”

• If the initiative for a project has not come down from the top, then you are dealing with someone compiling a “wish list,” and it will be a complete waste of time.

• Once you have had substantive interaction with a contact lower down the ladder, it is impossible to go over their head to Decison Maker. Assume about this one. You meet with Peggy the Office Manager and she tells you your product really doesn’t have an advantage in the company. Two days later you get through to her boss’s boss and he shows a genuine interest in your solution, so he calls Peggy and tells her to buy a closer seek at you. Is Peggy an ally or an avowed enemy?

“Who cares? Screw Peggy!” is a shapely sentiment, but Peggy will do everything in her power to undermine you, and, in fact, promote a competitor out of pure spite. If you think Peggy will regain fired because of her lack of vision you are tiresome wrong. Once you have discovered that you are not dealing with the proper contact, get out.

Your products or services may, by design, threaten someone lower down the ladder. Your primary benefit for a company to adopt your HR services will be to crop overhead and increase efficiencies by eliminating some, most, or all of the HR department. How well received will your proposal be to the head of said HR department?

You should always be addressing the person who will personally benefit most by your products or services, and this contact resides at or near the top of the heap.

NEVER PITCH TO A GATEKEEPER

Don’t waste your time by presenting your case to a gatekeeper, secretary, executive assistant or anyone other than your target contact. When interacting with anyone during the process of getting to the DM give information sparingly. I’m always polite and at times show myself as a poor lost soul, but there are a number of dangers in giving too grand information. The biggest danger is wasting your time. The only decision Peggy can make is whether or not to let you through the gate. Telling her all about your product is a complete waste of your time. Another danger is giving Peggy the opportunity to say, “Nah, we don’t need any of that stuff.” Now you’re really shut down.

Try to understand the psychology of the gatekeeper. Typically they are women who are very capable at their job as an assistant to your DM. Many times they have supported the DM for many years and have become very defensive of their time. The DM does her review, gives her raises, days off and bonuses, and even goes to her kid’s graduation party.

Sadly, many times they do their job too well and they insulate the DM from a great solution.

Research Calls

Before you pick up the telephone, you want to identify at least 30 target accounts to call. This process should take place during off hours, i.e. early, late or lunch. Remember that highly productive activities are those that relate to direct contact with a prospect. Everything else is time wasted. Focus on your selection criteria and ignore any old notes that exist in the system.

After doing your research and targeting 30 accounts you will need to find the appropriate contact. This is an art in itself.

Many excellent information sources exist that will provide a list of executive contacts for businesses. The Web is substantial source. I always laughed when a gatekeeper refused to provide me with someone’s name and upon checking the company’s website not only did I salvage the appropriate name, but also e-mail address, direct dial phone numbers, biographies, photos, etc.

Having a contact name makes life simpler and it’s a great inaugurate, but you still need to have a conversation with the contact, which means you will probably need to penetrate at least one gatekeeper.

The next issue becomes the validity of the contact. It is critical that you positively identify your primary contact with as distinguished absolute certainty as possible. Failure to accomplish this will always result in countless hours of effort spread over weeks or months only to finally get through to someone who is not even remotely fervent in what you are offering.

As you occupy a prospect to call take a pen or pencil (I prefer pencil) along with ruled pad and write out company name, contact name and title (if you have it), and telephone number on one line. Skip four or five lines and write the next one until you have about 30 companies listed.

My logic for using this method over direct interaction with a CRM is simple and multi-dimensional:

• Unless you are a speed typist, writing notes is faster than entering them on the cover.

• Writing is second nature. You can have a quality conversation while making abbreviated notes and bullet points manually. Typing while talking will split your focus.

• You can review, correct, expand and compile your notes at your leisure in non-prime time.

• Having the chronicle up on screen will distract you by reading previous notes. Never buy the time to second guess a prospect when you are in the middle of calling. You can take whatever time you like while determining your call list, but once you put them on make the call.

• Transcribing the notes later will help you recall items you may have missed initially.

• Having a list or stack of sheets will give you a sense of accomplishment. Having a list or stack will set a goal for you. You must complete the list. Calling from the screen gives you too many opportunities to say, “Well, I guess I made enough calls today.”

You will complete more calls, more effectively if you use this blueprint than calling from the cover.

This process begins with the telephone number. You dial the number and you get a recording that it is disconnected. Try the number again ensuring you dialed correctly. If you receive the message again make a note on the paper and move on to the next call. This is prospecting time NOT research time. Research is vitally necessary but during prime time it is wasteful and unproductive. Wait until lunch or end of day to check the number.

If indeed the number has been disconnected, then either delete the account or mark it for deletion. This is a pet peeve of mine. I have inherited a dozen databases over my career and it really puts me off at how many inconsiderate, illiterate dullards don’t delete disconnected numbers from the database.

Do your research carefully. Is the company out of business or has it been acquired by another account in your territory?

Use every opportunity to verify the information in your database. For example, if you don’t get anything else from the operator or receptionist, at least verify their address may have blown an appointment you have been working on for months.

Once you have compiled your notes from all of your calls, you can make yourself a cup of coffee and make the necessary updates to the CRM. As I said earlier, this will give you an opportunity to review your notes and fill in any details that will be helpful.

This is also the perfect time to build your strategy around an anecdote. All strategy in sales involves timing, contacts, and next action.

Commence with an introduction letter.

The Introduction Letter

The Introduction Letter accomplishes a few things. First, it is the most professional way of making an initial contact with a prospect. Your contact is probably very adept at ducking sales calls, so it is always a good idea to give them a heads up.

Before you send an introduction letter it is vital that you have telephoned the myth and verified your contact, his title and the good spelling of his name.

Here’s a little strategy that can help you verify the information from the website, and almost never fails to obtain the appropriate contact.

When you have the receptionist on, use this line:

“Hi, my name is Jim Fiorini and I’m calling from HR Services Unlimited. We are the world’s largest provider of HR Services and we are presenting a seminar on the financial advantages of HR services outsourcing in a global economy. We’d like to procure invitations out to the senior financial staff at ABC, Inc. and I was hoping you could help me out with that.”

There is something disarming and non-threatening about sending an invitation to a seminar. Many times the person will ask you for a clarification, or they may give you the HR manager’s contact name. Be very grateful and take the information, but ask them if the contact name they gave you is the highest financial authority in the company. It’s NOT a seminar on HR services, it is about the financial impact of HR services outsourcing.

“Thanks for the information. I want to be sure that these invitations go out to the highest financial authority. We don’t want to hurt anyone’s feelings, and if they want to pass the invitations along to someone else well that’s objective up to them.”

You’ll catch the hang of it. It almost always works and you aren’t lying. You would like to invite them to a seminar that has been individually prepared and given at a personal level.

Very few reps use this tool, so as a differentiator the introduction letter is very effective.

By setting an expectation for a follow up contact, and then actually completing the follow up, you begin to build credibility with your prospect.

When confronted with a gate keeper wielding the dreaded, “Is he expecting your call,” you may now, with all confidence and honesty, reply, “Why yes, he is.”

Lastly, by using the introduction letter as the first step in a process you bring structure to your plan. I recommend sending a minimum of 30 letters every week so that you have a minimum of 20 follow ups the following week. Of course, if you are having difficulty keeping up with the follow up calls, you can throttle the initial letters, but more effective would be to step up your follow up activities to clear the way for more letters.

Start building your goals from the very first action!

The Pre-Approach Letter should be short and to the point. Build it around an expanded elevator pitch. You will always end a pre-approach letter by informing the contact that you will be calling in the near future to set an appointment.

I generally bewitch a very passive aggressive position with prospects. Being patiently persistent may take longer, but I find my chances of success to be much higher.

So let’s start the dialing process.

When the operator or receptionist answers the call just ask for the contact as if you were an old golf buddy looking to confirm a tee time.

“Hi, is Jeff in? “ If she transfers you thank the benevolent god of sales, you got lucky.

“Who’s Calling? “ Tell her the truth but give her your name like ol’ Jeff has known you for years.

“Jim Fiorini.”

“What company are you calling from? “ Again, you should be truthful but very casual, as if Jeff is expecting the call.

“HR Resources.”

“Will he know what this is regarding? “ I hate it when they are good at their job!

Because you sent an introduction letter you answer confidently, “Yes, he will.”

The operator puts you through and you gain Jeff’s voice mail. DO NOT LEAVE A MESSAGE!

• Jeff will probably not return your call so don’t waste the time.

• If you leave numerous unreturned messages, the moment you get lucky enough to have Jeff buy up and you introduce yourself you stand a very good chance of getting a response something like, “Peruse, if I was interested I would have returned your call.” Never an auspicious beginning to a relationship.

• If you don’t leave a message you can safely create repeated attempts to reach Jeff.

When to Leave Messages

You should leave a brief message following up on the introduction letter. The letter states you will be following up, so let him know you are.

When Jeff finally picks up the phone live and in person be ready for your pitch. Your time is limited, so put something together that will be good to the point and set the hook. Many people call this a benefit statement.

Jeff knows the trusty reason you are calling; you want him to buy your product so you can obtain money. He knows, because he gets many similar calls every week, and if you don’t differentiate yourself, then you are done.

A benefit statement is simply a concise statement of the benefit the potential customer might realize if he partners with you on a deal. What challenge is Jeff facing for which you are providing a solution?

“Good morning, Jeff, my name is Dave Johnson and I am calling from HR Specialists Unlimited.”

“Jeff, I apologize for coming at you unannounced, but I am following up as I said I would in my letter of introduction. I wanted to take a minute to witness if there might be a draw we can support the HR Department at ABC Company.”

“HR Specialists Unlimited provides a comprehensive support program for companies with more than 50 employees. Through a combination of on-site software and outsource services for things like recruiting, payroll, benefits and 401k, HR Specialists can enhance your HR process while reducing costs. Jeff, we currently encourage more than 4,000 enterprises in the United States, and I was calling to set a convenient time for us to get together and determine if there might be a good fit between your requirements and our services.”

Perfect, you told Jeff what you do and of what benefit your services can be to his company. You also, wisely, threw in a bit of credibility by mentioning your stout customer base. If you’re really intellectual you will have prepared a couple of recognizable names to drop. If you are selling a widely distributed product like office equipment, you should have some local companies to mention. Competitors of your target account are enormous names to drop.

Now comes the fun portion. This is the stage that separates the professionals from the wannabes.

If, on a million to one chance, Jeff says, “Sure, how’s tomorrow discover,” go hold a lottery ticket, because you objective got lucky.

Overcoming objections to a first appointment is probably the most difficult part to master

Let’s take a look at some of the common objections and some ideas on how to respond.

First some general ground rules:

1) Keep them engaged. If you hold them talking to you you’ll be surprised at the information you obtain and where the conversation could lead you.

2) Never undermine someone’s area on the subject. Stay positive and reinforcing. Even an implied criticism can extinguish any chance of getting your foot in the door.

3) Be patient. I have found that there is an average three-touch baseline for getting a first appointment. In other words, it takes an average of three conversations before someone will agree to a meeting.

4) They are probably objecting to the call, not to you or your product. Keep in mind that you interrupted their day and you have no idea the day they are having. I can quote thousands of personal experiences where my first contact was a disaster, to the point they were calling the police, and then a few weeks later I got an appointment with the same person.

5) Never take it personally. They don’t know you. You are doing your job, they are simply doing theirs.

6) More than anything you must believe that your product or service will improve their business or their personal standing within their company. If you maintain that belief and conduct yourself professionally you will always succeed.

7) You are one of dozens if not hundreds of vendors asking for some of their time. The decision maker is inundated with people trying to sell him everything, from paperclips to fork-lifts.

Always set an expectation for a next action.

I. “Thanks but I’m not interested.”

This is a standard response from someone who gets many calls and has limited time to listen. Chances are that as soon as Jeff heard your introduction he immediately went into “just another sales get” mode, and did not even hear most of what you said about your product. You need to score Jeff keen in listening. This calls for testing with probing questions to qualify here.

“I understand how busy you are Jeff, and I apologize for coming at you unannounced. Since you don’t have any interest, is it magnificent to say you have fewer than 50 employees? “

“No, we have almost 200 employees.”

You’ve obtained vital pre-qualifying information, and you have an opportunity to re-state your qualifications, as well.

“That’s great! That’s the perfect reason for us to get together. Our services are designed to support businesses with more than 50 employees, but the cost justification really soars when there are more than 100. I would just need about 20 minutes of your time to give you a good overall picture of what we do. Do you have some time on Thursday? “

Try to close for an appointment after addressing an objection. If the conversation leads to multiple objections make multiple attempts to close for an appointment.

If Jeff doesn’t purchase at all, and simply dismisses you, don’t give up. Recycle him for another letter and round of contact. Perhaps you may need to take a pass at an alternate contact, but we will discuss that position later.

II. “Our HR department handles everything in house.”

“I’m clear you have a sizable HR department in house and we don’t want to replace anyone. We just want to enhance your employees’ HR experience by providing you with scalable applications to succor your HR load. From the search for candidates, through the onboarding process, to termination or retirement we can help you handle associates from cradle to grave. Do you think you could find 20 minutes to talk when you are expecting me? “

III. “Now is not a safe time.”

“Jeff, I know how busy everyone is these days. That’s exactly the reason ABC Company partnered with us. We helped Mark over there enhance his HR flow, while having a dramatic positive impact on his budget. If I could just derive 20 minutes to lay out our offering maybe you would have a better idea of when the perfect time to take a closer look might be.”

IV. “Send some information.”

I LOVE this one. Most reps will unbiased cave in and send something in the mail. This is a perfect plan to collect more information.

“I’d be happy to do that, Jeff. It will give you an opportunity to see some of what our capabilities are. The problem is that, as I said earlier, we have a very comprehensive and scalable product, so I don’t want to overload you with literature. Could you tell me if there is one area of improvement you’d like to see in your department? “

This may get Jeff to admit there is some pain in his life, and give you an exploitable entry point into the account. Jeff will also get the message that you will not passively accept his dismissal. I would be bold enough to say that I have gotten more appointments from this objection than any other.

V. We already outsource most of our HR services.

“That’s great, Jeff. That tells me you are familiar with the advantages of placing some of your services with specialists. Since we are the leader in scalable HR solutions, it would be beneficial to gather together and determine if there are any holes your current relationship may have left.”

Don’t be disappointed by this response. The bad news is that they are engaged with an incumbent. The good news is that they have bought into the model. This is what I refer to as a “Lifetime Opportunity.” I need to stay in touch on a regular, but arms length, basis until an opportunity to unseat the incumbent presents itself. Use your CRM.

This information is critical when dealing with time definitive relationships like equipment leases, service agreements, or any other contract. When I was in the copier business all I did was date prospect lease terminations and focus on leveraging them when they came up. In the meantime I had the opportunity to build a relationship and offer many non-copier based software solutions that my company had available. Sometimes I had the chance to do something smaller but more estimable while waiting for the big opportunity to come due.

There are many objections to an appointment, but hopefully you get the picture. Deem outside of the box. Keep spinning the conversation until you get an appointment.

VI. Delegation

If your persistence pays off, the next step for an owner may be to delegate your call to someone further down the ladder. Hang on to the top rung of the ladder for as long as you can.

“OK, Jim, but you want to talk to Mary Hartman in my HR department.”

“Thanks for the direction, Jeff. I’ll be sure to get in touch with Mary, but it would be a value for you to gape our solution from a strategic perspective, so would you give me 20 minutes prior to my reaching out to Mary? “

“That’s not necessary, Jim. Mary can handle it.”

“I’m sure she can, Jeff, but my experience has been that HR supervisors feel threatened by our services and don’t come by a full appreciation of our value. The net result is that the information gets shelved and an opportunity for a strategic improvement is lost. Would it be possible for you to sit in on our first meeting to kind of set the tone? “

“Jim, Mary is your contact. She’ll run with it.”

“OK, Jeff, I’ll near out to Mary, and keep you in the loop throughout the process.”

Jeff may have agreed to net together at any point in that conversation, or he may have pushed hard on the delegation. You must fight to keep Jeff involved.

VII. You struck out your first time

All of your objection management skills failed to pay off, but you are certain there is an opportunity for you to do business with the memoir. What is the next step in the plan?

Once again, opinions vary on this topic, from call back in a few days and try to bully your way in, to walk away from the prospect and plow greener fields.

Once again, I find myself somewhere between the two extremes. Being pushy may work for selling used cars or stereo equipment, but it is the quickest map to de-rail a high level professional sale.

Walking away from the prospect is easy, but if you walk away from every prospect that resists setting an appointment your closing opportunities will quickly become limited. There is certainly a time to dawdle away from a prospect when there is clearly no opportunity for a deal.

This is where your CRM and follow up techniques come into play, and they are definitely a part of the prospecting cycle.

Personal Visit (Cold Call)

Showing up in person at a prospect can be very effective when in the proper setting. Cold calls can also demolish a great deal of time if not scheduled properly.

Let me be absolutely clear on one point first. In most markets, running from door to door dropping off business cards and literature as a primary prospecting map is a complete waste of time.

There are a few exceptions to this rule. Some examples are retail advertising: radio, phone book, coupon mailer, etc. In these venues dropping by in person is probably the most effective intention of reaching out to prospects. In the substantial majority of B2B solutions or capital equipment sales this is not a winner.

There are times, however, when personal visits have a place in the cycle.

You have just finished up an appointment in a relatively unfamiliar share of your territory, and there happens to be a broad commercial park nearby. This is a great opportunity to at least swing through and ticket the businesses located in the park. You will gain greater familiarity with your territory, and you may well identify an overlooked opportunity. Pay particularly close attention to any signs of company relocation, either into or out of a space. A change of physical location will often provide an environment for other changes in infrastructure.

Your appointment may have been in a multi-story building. This is an equally good opportunity to scope out what’s happening in the building.

In either of these scenarios, it is perfectly appropriate to pop in and give the receptionist the same intro you would if she were answering the telephone. The only change I would make is to apologize for the inconvenience of stopping by without an appointment, but you would like to set one.

The Stop By

Another personal visit is what I refer to (for lack of a better term) as a “Stop By.” The Cessation By is most effective when you are having difficulty getting through to an identified contact on the phone. You have made numerous attempts to arrive someone, but always raze up in voice mail.

This is where your CRM really comes in handy. You have set an appointment 40 minutes away from the office and you wish to maximize your time. Sort all the accounts in the zip code for the appointment, and pick out the accounts that you have been unable to make contact with.

Depending on the number of these accounts, you may want to beget a whole morning of Stop By’s, or afternoon, or the entire day. You are investing 80 minutes round gallop to glimpse one prospect. If possible, maximize your travel time. The Stop By is always at an account that you suspect is a good candidate for your product, and you have made numerous efforts to arrive them. The Stop By will accomplish a number of tasks for you.

• First, you will regain a personal view of the prospect. Many times I have diligently worked to get to a contact, and on stopping by I observe that the account really isn’t edifying. I can now steal it from my list, thus refining my territory.

• There is also a chance that you will get to meet the contact you have been working so hard at meeting. Many people hide behind their voice mail these days, but if you show up in the lobby they will often pop their head out.

• At the very least, the contact will know that you are dedicated enough to make the effort to drop by. I always write a limited note on the serve of my business card letting them know that I will be trying to reach them for an appointment.

• For those times when you come a contact who rewards you with that renowned line, “Send me some information first,” the Stop By is a perfect excuse to, well, stop by. Tell the receptionist the truth. “Donna asked me to send her some information, but since I had an appointment at ABC just down the street I thought I’d set aside the postage and deliver it myself.” Big smile. “By the way, do you judge Donna may have a miniature to shake hands? ” Donna will probably come out and say hello. If not, again, at least she will know you are making a serious wretchedness to earn her time.

E-mail

You should be asking for a contact’s e-mail address every time. This is a most effective method for staying in touch with a contact. I have found that contacts who are terrible at taking calls or returning messages respond to e-mail messages.

The perfect time to request an e-mail address is at the infamous, “Send me some information.” The only time anyone has balked at that one are those precious few who have no e-mail address.

To a large degree, the rules for e-mail are the same as phone calls. You should have a specific reason for the message, though a “Unbiased Checking In” e-mail is acceptable from time to time.

E-mail is also an effective precursor to a phone call or visit. Clearly state in the e-mail message that you will be calling or visiting on a specific date. This will nullify the gate keeper’s inquiry, “Is Donna expecting you? ” You may now honestly answer, “Yes.”

Many companies spend e-mail services to distribute marketing materials on a regular basis. This is a terrific service with huge impact. Most recipients won’t complain unless the material is annoying or the frequency is obnoxious. On the other hand, if someone gets aggravated enough, they will call you to complain. This is the perfect time to be the hero and apologize for the “SPAM” your inconsiderate marketing department has been sending. After you soothe them, stare if you can’t strike up a conversation with them and witness where it leads.

I’ve actually found that many prospects are easier to residence appointments with via email.

Targeting an Alternate Contact

You will undoubtedly encounter a contact that is completely inaccessible. You may have heard someone out there jabber you that if you are persistent you will wear them down. As usual, there is a positive amount of truth in this philosophy but you need to determine when it is in your best interest to take your chips to another table.

Keep in mind that just because you’ve switched your sights to another target it doesn’t mean you have to give up attempting to reach your valuable.

It is difficult to assign a set time line for changing your near but I would say that you should have exhausted all methods of attempting to near your primary and have made at least three attempts through each medium; Phone, letter, email, personal visit.

Once you have made the decision to change select the next rung down in the ladder. Don’t give up on the CFO and dive right to the purchasing department. Try finding a VP of Operations, Controller, Business Manager, someone who is a direct report to your primary contact.

Always View Prospecting as a Process

I’ve witnessed countless newbies self-destruct at prospecting. After the manager that hired them and the trainer that indoctrinated them site their expectations at six figure incomes and easy pickings the reality of being rejected 49 times in 50 calls crushes them.

Too many times the goal is determined by the number of appointments set. In reality you made 50 calls but only region one appointment. Talk about disheartening.

Now take a closer stare at what really happened. You made 50 calls and set one appointment. You also confirmed 13 contacts, identified 4 definite prospects, dwelling up three contract end dates and had two substantive conversations with contacts who allowed you to set a next step within a quarter. Not a bad day’s work.

If you are methodical in your notes and planning prospecting gets much easier because your prospects become warmer each time you touch them. I chuckle when I see the looks of chagrin on the faces of recent guys in the pit during “Phone Blitzes”. I will have my three appointments set in about an hour while they will hammer away all day and get none.

If you only look for the immediate opportunities and discard prospects with a longer event horizon your territory will be forever green and you will be perpetually poor.

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