Keeping the infamous “sales funnel” full is every marketing and salesperson’s challenge. To meet the challenge, many follow the approach that “if you fling enough mud against the wall, some of it has to stick.” Is that the right approach when it comes to filling your funnel with prospects?
Should you search for prospects in such a broad and wide fashion that the majority are weeded out? The answer is no. This approach is likely to be filled with rejection and is both costly and time-consuming.
At NWI, we advocate a more selective approach to prospecting. Don’t just accept every client that knocks on your door, go after the clients that you would like to work with and who are a better fit for your company.
We work with our clients to narrow their target audience – selecting two to three vertical markets/targets. Within these markets, clients design an ideal client profile listing the characteristics, pain points, and personas of each desired client type.
Who is your target market? Identifying the following factors is how we approach building your Ideal Customer Profile:
• Industry
• Location
• Company size (If B2B)
• Gender and age (If B2C)
• Decision maker
• Pain points
• Product or service needs
• Order size
• Delivery date
Red Flags
• Poor credit history
• Prospect does not align with your company values
• Lead time does not meet their delivery schedule
This process changes the concept of the sales funnel into a “sales cylinder”. As a cylinder, desired leads will expand, and they will flow more rapidly.
Of course, once you define your ideal prospect/client, you need to find them. To be successful, both your sales and marketing team need to consider the target’s lifestyle, communication style, and understand what they need.
If you have been following my blog, you know that NWI stands for “Networking with Impact”. We believe that one of the quickest and most cost-effective ways of locating your defined target audience is through networking
When a trusted advisor introduces you to your desired prospect, you are 80% of the way to a sale. Since the prospect trusts their advisor, the advisor can help bridge the gap between the prospective customer and you.
We find that most of our clients can close a sale if they have the opportunity to present their product or service to the decision-maker and if their product conquers one of their problems. Several tools are necessary to support these introductions such as a strong online presence, website, strong content, and enticing collateral materials or presentations.
To learn more about target markets, sales techniques, and a wide range of other sales and marketing related topics, follow our blog and consider attending one of our many educational seminars and workshops. Keep up to date on our latest offerings here.
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