Without a Plan it's a dream!
In previous entries I have discussed lead generation and the myths surrounding it. What is often missed in a sales focused prospecting plan is the PLAN. Karmic Salespeople know that the foreseeable concequence of planned prospecting is a full pipeline and quota achievement. It is a critical piece of the sales formula and simple to create.
1. What Are Your Sales Goals or Quota
Do you have a quota you need to meet? Is there a sales incentive you want to win? Do you want more new customers or more repeat sales to existing customers? Are you targeting a specific client segment or profile? It has often been said if you dont know where you are going any road will get you there. Come up with your goals. Ensure they are specific, measurable, and time bounded. When you know exactly what you want to accomplish, it’s easier to do it, because your goals will help define other aspects of your plan.
2. Who Are Your Ideal Prospects
This important question is often never asked, and the answer isnt everyone Most salespeople waste a majority of their time with prospects who will ‘never’ do business with them. To maximize your prospecting time, you want to spend it with the people who are ‘most’ likely to buy from you. Spend some time defining which clients your product or company has the most success with, determine who your ‘ideal’ prospects are. The people who ‘most’ need your software and will ‘most’ appreciate its unique benefits.
Start your profiling by examining your current customers: What do they have in common? Then decide who else you want to target and list their defining characteristics:
Some common variables for Business to business sales include:
Industry
Type of business (manufacturing, retail, service, etc.)
Geographic location
For-profit vs. non-profit vs. government
Annual revenue
Number of employees
Size of sales force
Distribution channel
Customer profile
The more narrowly you can define your target prospect, the more effectively you can craft a sales proposition that resonates with them.
3. Where Are They
Whoever your ideal prospects are, you’ll find some of them everywhere. But you want to focus your efforts where the greatest concentrations of them are. Identify geographies where these segments exist and where you have local references in their industry. Why? Well first off you will maximize your travel dollars when you go see them. Also most industries and geographies are highly self referencing and being able to say "Joe down the street has done business with me for years." The other benefit is that you can attend functions where you would expect your ideal customers to be such as business events, golf events, etc.
4. How Will You Reach Them
There are many tools at your disposal from email, to direct mail, to seminars etc. The key in using any of these is relevance. Ensure that your message is relevent to the prospect you are targeting. Mix up multiple channels and use referrals where possible.
5. What Is Your Hook
Here’s an important secret about sales in general and prospecting in particular: Nobody cares about you, your company, or your software. What people ‘really’ care about is ‘themselves.’ So lead with a hook! A hook is based on a deep understanding of the business that the prospect is in that will generate a lot of value for the client with little or no risk. Take the time to be prepared. Understand the business challenges of your ideal customers, who are their competitors, and what are their strategic objectives. Be memorable present something that makes them rethink what they are doing.
6. Execute Execute Execute
I will say it one more time Execute. This is one of the most important parts of your plan. Most of us have good intentions, but falter on implementing them. Unless you commit to taking action, you won’t achieve the goals you’ve set for yourself. Schedule exactly what you’re going to do and when, with as much detail as possible. Break each project into incremental steps, with a time line for each one. This will help ensure that those things get done. Deadlines are powerful motivators.
7. How often will you review this plan?
After you have written your plan, review it at first weekly then monthly. Set yourself measurable targets that you can impartially compare against that are indisputable. Ie. you hit it or didn't. Be ruthless with yourself if you arent achieving what you committed to do.
All sales people (karmic or not) know that If you want to sell more software, you need more prospects. A prospecting plan as an integrated part of your sales strategy and sales process can be a powerful tool for finding and reaching them. The foreseeable concequence of a detailed plan that you are committed to and measure yourself against ruthlessly is quota achievement and loyal customers.
Moment of Zen
All know the Way, but few actually walk it. -BodhiDharma
P.S. If you are interested in leveraging the karmic philosophy to accelerate your career or business please check out my website http://www.karmiccoach.com , and get Karma working for you!
1. What Are Your Sales Goals or Quota
Do you have a quota you need to meet? Is there a sales incentive you want to win? Do you want more new customers or more repeat sales to existing customers? Are you targeting a specific client segment or profile? It has often been said if you dont know where you are going any road will get you there. Come up with your goals. Ensure they are specific, measurable, and time bounded. When you know exactly what you want to accomplish, it’s easier to do it, because your goals will help define other aspects of your plan.
2. Who Are Your Ideal Prospects
This important question is often never asked, and the answer isnt everyone Most salespeople waste a majority of their time with prospects who will ‘never’ do business with them. To maximize your prospecting time, you want to spend it with the people who are ‘most’ likely to buy from you. Spend some time defining which clients your product or company has the most success with, determine who your ‘ideal’ prospects are. The people who ‘most’ need your software and will ‘most’ appreciate its unique benefits.
Start your profiling by examining your current customers: What do they have in common? Then decide who else you want to target and list their defining characteristics:
Some common variables for Business to business sales include:
Industry
Type of business (manufacturing, retail, service, etc.)
Geographic location
For-profit vs. non-profit vs. government
Annual revenue
Number of employees
Size of sales force
Distribution channel
Customer profile
The more narrowly you can define your target prospect, the more effectively you can craft a sales proposition that resonates with them.
3. Where Are They
Whoever your ideal prospects are, you’ll find some of them everywhere. But you want to focus your efforts where the greatest concentrations of them are. Identify geographies where these segments exist and where you have local references in their industry. Why? Well first off you will maximize your travel dollars when you go see them. Also most industries and geographies are highly self referencing and being able to say "Joe down the street has done business with me for years." The other benefit is that you can attend functions where you would expect your ideal customers to be such as business events, golf events, etc.
4. How Will You Reach Them
There are many tools at your disposal from email, to direct mail, to seminars etc. The key in using any of these is relevance. Ensure that your message is relevent to the prospect you are targeting. Mix up multiple channels and use referrals where possible.
5. What Is Your Hook
Here’s an important secret about sales in general and prospecting in particular: Nobody cares about you, your company, or your software. What people ‘really’ care about is ‘themselves.’ So lead with a hook! A hook is based on a deep understanding of the business that the prospect is in that will generate a lot of value for the client with little or no risk. Take the time to be prepared. Understand the business challenges of your ideal customers, who are their competitors, and what are their strategic objectives. Be memorable present something that makes them rethink what they are doing.
6. Execute Execute Execute
I will say it one more time Execute. This is one of the most important parts of your plan. Most of us have good intentions, but falter on implementing them. Unless you commit to taking action, you won’t achieve the goals you’ve set for yourself. Schedule exactly what you’re going to do and when, with as much detail as possible. Break each project into incremental steps, with a time line for each one. This will help ensure that those things get done. Deadlines are powerful motivators.
7. How often will you review this plan?
After you have written your plan, review it at first weekly then monthly. Set yourself measurable targets that you can impartially compare against that are indisputable. Ie. you hit it or didn't. Be ruthless with yourself if you arent achieving what you committed to do.
All sales people (karmic or not) know that If you want to sell more software, you need more prospects. A prospecting plan as an integrated part of your sales strategy and sales process can be a powerful tool for finding and reaching them. The foreseeable concequence of a detailed plan that you are committed to and measure yourself against ruthlessly is quota achievement and loyal customers.
Moment of Zen
All know the Way, but few actually walk it. -BodhiDharma
P.S. If you are interested in leveraging the karmic philosophy to accelerate your career or business please check out my website http://www.karmiccoach.com , and get Karma working for you!
Posted by Dinesh Kandanchatha at 7/15/2008 2:05 PM 
Categories: Business
Tags: Sales process Sales Coaching Sales Strategy Sales help Sales tactics sales tricks sales methods Sales tips
Categories: Business
Tags: Sales process Sales Coaching Sales Strategy Sales help Sales tactics sales tricks sales methods Sales tips
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