After you cast your net for prospects, make sure you keep only those good for your firm
When times are tough and it’s difficult to sign on new clients or get current clients to buy additional services, we’re all tempted to take any business that comes our way. But that is a mistake. You must have a discriminating eye when considering prospects. You want a client who will stick around for the long haul and will help you grow your business.
With that in mind, Vickie K. Sullivan this week writes about the types of prospects you must have in your sales pipeline (3 Types of Prospects You Want in Your Pipeline Now):
- The Ready and Willing
- The Willing and Exploring
- The Small and Steady
Each group has its own qualities, and their members are all serious buyers.
We’d all be wise to look at each prospect that comes along and evaluate whether it’s the right fit. If it isn’t, throw it back. As Sullivan says:
“Pipelines with too many false buyers create a low close ratio, a low cash flow, and a high degree of frustration. Effective lead generation campaigns catch the attention of many buyers and have a system to distinguish between serious prospects and the wanderers in the wilderness.”
Buying Is an Emotional Experience
Martin Lindstrom, author of Buyology —Truth and Lies About Why We Buy, says buying is an emotional experience for the purchaser. Whether people buy a product or services, their emotions are always part of the equation.
Mike Schultz and Robert Croston explore that concept in their article, Use Your Brand Symbol to Trigger Emotional Responses in Buyers. Looking at the successful use of cookies in the marketing strategies of DoubleTree Hotels and Midwest Airlines, Schultz and Croston point out how those two companies used a brand symbol to appeal to travelers by creating an experience those people will value.
Professional services firms can do the same thing, they say. Ask yourself what feelings are associated with working with you and then find a symbol that represents and elicits those feelings.
Another way to get prospects comfortable with you and help them understand the value you offer is to produce online audio such as podcasts, says Randy Shattuck in his article, Podcasts: Powerful Marketing and Sales Tools. They can significantly improve lead nurturing and give you a leg up on the competition. Shattuck says:
“Audio tools such as podcasts and MP3 files can have a major impact on client acquisition, perceived value, and profit per deal. When prospective clients understand your firm’s value, expertise, and unique vision before they talk to you, you’ll realize a shorter sales cycle, higher close rates, and enhanced profitability. “
The key, however, is to produce business-class audio. Badly created audio will hurt you—you won’t be considered professional. Review Shattuck’s five best practices for producing online audio so you can avoid that.
Such communication with prospects and clients is actually public relations, Drew Gerber points out. You’re developing relationships with them—your public—and you need a strategy for doing so, he says in this week’s podcast, Get Prospects to Notice You: What Every Marketing Campaign Must Have. Listen as Gerber discusses techniques for reaching your public, whether it’s via traditional or social media; what’s required for a good PR campaign; and the success businesses can see as a result.
