The sales industry is highly competitive. With so many products and services in the market, it can be difficult to acquire quality customers and clients. However, there are many techniques and strategies that you can use to achieve success in your sales career, including sales prospecting.
What is Sales Prospecting?
Sales prospecting is any strategy used to seek new clients or customers. Basically, at the onset of prospecting you don’t have any leads; however, at the end of your prospecting campaign, you have a new client base.
In a recent post, AMP Payment Systems notes that prospecting techniques can include outbound strategies, such as cold-calling and social spamming, or it can include inbound techniques, such as returning to old leads that have since gone cold and social selling. For more insight into this definition, see this useful article.
How Can it Help with My Sales Business?
Because sales prospecting is designed to increase your client or customer base, it can help stimulate sales and, in turn, grow your business or determine the success of your sales career.
In addition to gaining new customers and increasing revenue, prospecting also allows you to gain valuable data when using the right strategy. Through surveys or calls to action, salespeople can determine what potential customers want, the best methods to sell products to them, and their main goal or focus while shopping. Although this data doesn’t instantly turn potential leads into revenue-streaming customers, it does allow you to develop sales strategies that reflect buyers’ demands.
Let’s Look at Some Statistics
In a given year, a salesperson, on average, loses approximately 15 – 20% of their customer or client base to gradual attrition. However, with prospecting, you can significantly reduce this number.
Over recent years, studies indicate that sales prospecting is essential to success in the industry. Let’s have a look at some numbers:
• Approximately 77% of potential customers responded positively to emails from a new service provider.
• About 69% of buyers took calls from sales prospectors.
• 82% of potential customers agree to meetings with salespeople who first reach out to them.
• 96% of people find it valuable when salespeople articulate the value that their product or service can deliver.
Through these statistics, it’s clear that prospecting can greatly impact the success of your sales career. The vast majority of people respond favorably to sales prospecting, and, with this strategy, you can connect with these potential customers and start generating more revenue.
For more helpful statistics to perfect your prospecting strategy, refer to this article.
How Can I Use Sales Prospecting?
First, you need to establish a prospecting strategy and decide whether you’ll use inbound or outbound techniques. Keep in mind, 64% of businesses that used inbound prospecting were able to reach their sales quota, while only 49% of businesses using outbound prospecting were able to meet their goal.
Next, you’ll want to complete some research and determine the likelihood of turning prospects into valuable leads. Then comes the actual prospecting where you’ll connect with potential customers and inform them of your products or services. After you’ve completed your campaign, you’ll likely have a new customer base, more revenue, and higher success in your sales career.
For an insightful guide into the beneficial world of sales prospecting, see this article https://smallbusiness.chron.com/benefits-sales-prospecting-63931.html