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The question is, what is a prospect?
I asked the question because there is a difference between a suspect and a prospect. A suspect is a name that could be a prospect but you don't know yet. A prospect has a need for the product, a possible desire to own that product and the financial capability to implement that decision. You spend time with suspects, you invest time with prospects.
In this session, our goal is to create a profile of your ideal prospect so that you can identify the characteristics and demographics surrounding those that you have already closed and looking for similar entities to do business with.
For example, if within your existing customer base, your best customers are in a certain geographical area, you owe it to yourself to explore what other opportunities in the same geographic area. The same would hold true, if they belong to a trade association, everyone else in that association would be a warm called for you. Taking the time to find this information is important.
What does the ideal prospect look like for you?
To create this profile, you begin to think about your current customers, what similarities can you see in them? Do they have the same job title or are they from the same industry or the companies? All about the same size or location.
Don't forget, when you are building a profile of this ideal prospect, you must consider the company as well as yourself. Would this type of customer be the most profitable to the company for you to have a sales? Be a true success, the customer wins, the sales person wins, and the company must win. You need to make sure you are targeting the customers who give you the best return on your time invested.
Once you identify a prospect that fits the profile of a good customer of yours, you must contact that prospect with the intention of asking enough questions so that you can either;
1. Turn him from a suspect to a prospect.
2. Disqualify him as a prospect so you can move on.
3. Find the real buyer or decision maker.
4. Sell your products.
Remember, a truly qualified prospect meets all these qualifications. They have the authority to buy, the ability to pay and an unmet need.
It's important not to push products on people who are not qualified prospect. It wastes time and damages their trust in you and your company, rather disqualify the prospect and move on to apply this information today create a profile of your best customer and begin to look for prospects that fit this profile.
Realizing, of course, that some prospects will buy that don't fit that profile. Use the profile as a sort of magnifying glass to help you zero in on the best people to spend your time with, even if you think you have the best product or service in the world, there are people out there who couldn't care less. Your job is to eliminate them quickly, so you can help the people who do need what you sell.
Mary Kay of Mary Kay Cosmetics once remarked concerning the fur coat the company awards to top sellers, "every hair on this coat represents a customer who said, no." She knew that if you keep eliminating the noes, you have more time for the yeses.
Differentiate between suspect and prospect, don't get confused between the two.
Always, always, always target the prospect and not the suspect.