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Prospecting Strategy

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Kevin88660

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Feb 8, 2019
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There are a lot of topics related to sales. I think it is worth opening up a thread on that.

I want to focus on prospecting- finding clients who are willing to give you time to listen to your presentation. Prospecting is the most important part in the game of sales. If you have a good pipeline if prospects, the war is won before it is ever fought.

I am a financial advisor tied to one of the biggest insurer in Singapore.

Quality prospects are defined to have all the following characteristics
1) People who can afford your products
2) People who see value in your product
3) People who are willing to take action (buy) now

An “A” grade prospect is said to have all three factors.

A “B” grade prospect have the first two but is unable to take action for personal reason-busy with work, cash flow problem until year end bonus or having a bad mood due to a quarrel with his wife.

Only look for these two types of prospects. Do not waste time on others.

One method I am using is to have a list contacts of professionals like doctors, lawyers, managers and company senior executives. Check them through the “Do not call list”. Call them and tell them who I am, and ask them if they are interested in a million dollar term life insurance coverage. If they say no, then I reply “Have a good day and good bye”. It take 30 seconds to end a call for a “no”.

Set an appointment with grade “A” prospect. If they are not willing to see me means they are not grade “A”.

For Grade “B” prospect ask them what is a good time to contact them again. Mark it on the calender.

For all others just contact them again one month later to see if they have turned into an A or B. “No” means “not now” unless they have requested for you not to call them again.

There is a lot of details and finetuning in the execution. But the board strategy is as mentioned. It is a system of repeatable actions on a book of 1000 phone contacts. It is one of the strategy that is working well for me and hence I am sharing it.

I hope other business owners and salespeople can share their prospecting strategies. Let us see what we can learn from each other.
 

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