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Do You Have Too Many Prospects in Your Sales Pipeline?

sales prospectingThis tip rubs a lot of people the wrong way, especially managers, but I’m a firm believer in it. I know I will have more success if I have fewer prospects whom I can really focus on rather than a bunch of names I don’t have time to deal with.

To get to this point it means you must have a prospecting process that allows you to qualify quickly whether or not the prospect is really a prospect or if they’re nothing but a suspect.

Way too much time is spent by salespeople chasing suspects. Many times the suspects are nice people — they will engage you, the salesperson, so you think they must be a potential customer. You should never forget the first objective of prospecting is to qualify the prospect.

The most valuable asset you have is your time. It’s not what you sell or the service you provide; it’s your time. If you waste 25% of your prospecting time with suspects, then you’ve lost 25% of your prospecting time you could be spending making money.

4 Rules to know if they’re really a prospect and not a suspect:

Have they told you when they are going to make a decision? Nothing is worse than spending time with someone who is not going to buy for a couple of years.

Are you sure you’re dealing with the decision maker? Nothing will waste more time than having to sell it twice, because the first time it wasn’t the decision maker.

Have they given you some proprietary information? People aren’t going to share with you proprietary information unless they have confidence in you and are interested in doing business with you.

Do you know what their process is for making a decision? This question encompasses the previous 3 questions, but it challenges you to understand what other issues you could be dealing with.

Your objective is to spend more time with fewer prospects who will in turn give you the highest potential to close a sale.
Mark Hunter, “The Sales Hunter,” is a leading sales expert and author of “High-Profit Selling: Win the Sale Without Compromising on Price.” He speaks to thousands each year on how to increase their sales profitability. For more information, to receive a free weekly email sales tip, or to read his Sales Motivation Blog, visit www.TheSalesHunter.com.