WEDNESDAY DIGEST

UNDERSTANDING PROSPECTING

"Selling to your mother is not prospecting" Mark Hunter

A prospect is a person or organization that has the financial ability to pay for your product, service or idea but has not made a financial commitment yet.

Since making sales is about two parties exchanging value,it means that the lifeblood of a salesperson or sales organization is in the number and quality of prospect they have.

The more prospect you are engaging, talking to or having meeting with,the higher your probability of converting some of them into paying customers.

Like the legendary real estate sales coach, Tom Ferris, put it: " It's better to have ten lousy sales meetings than no meetings at all because you just might sell one".

Sales is about numbers

Selling is mathematics. The reality is that not everyone you talk to about your product will buy from you during the first conversation and some won't even buy from you at all.

To get YES customers, you will go through a couple of NO customers

Knowing this , it's important to determine from the onset how many products and services you want to sell then determine the number of people you will have to talk to achieve your sales target.

For example, if you spoke to or presented your product/service to one hundred people in one week and twenty paid, that means you have a sales conversation or convincing rate of 20percent.

Therefore,if you want forty people to buy your products, how many people will you talk to or make presentations to? Two hundred!

To achieve this,you need to focus and invest your effort on prospect-generating activities because more prospecting increases your possibilities of success in sales.

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