Sales play a crucial role in bringing in cash flow into the business. A business cannot sustain its daily operation without it, and without it, a business would eventually fail. One of its most important and initial steps is called “prospecting” – the process of qualifying the leads who has demonstrated the desire to make a purchase decision.
Here is an in-depth definition of ringDNA on what prospecting is, and what it involves:
“The definition of sales prospecting is when inside sales reps make outbound calls or send outbound emails to leads in hopes of creating opportunities for account executives. Prospecting can involve cold-calling as well as reaching out to nurture leads that have gone cold. Many inside sales organizations have achieved successful results by hiring dedicated sales prospectors. Prospectors, also known as sales development reps (SDRs) can help achieve predictable ROI by creating a steady stream of opportunities for account executives. This can be highly effective because it frees account executives from having to prospect for their own leads. Instead, they can spend their time selling to sales-ready prospects that have been qualified by sales development reps.”
Prospecting is pivotal in closing deals, which is the reason why it must be executed properly and in the right time. According to statistics, the first viable vendor to reach a decision maker has a 74% chance to win the deal if they manage to set the buying vision.
Here are the key takeaways from this infographic by Business Coaches Sydney on what it takes to prospect more effectively:
- Follow a consistent schedule
- Focus, focus, and focus
- Implement different techniques
- Create prospecting scripts
- Be a provider of great solutions
- Practice warm calling
- Establish yourself as a thought leader
- Know that prospecting is not selling
Check out their infographic to find out more.