What Is Sales Prospecting?

 In Sales Prospecting

What Is Sales Prospecting?

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Prospecting is the act of looking for new customers or clients to generate business for a company. Prospecting is about building a strong database of people interested in your company or who meet certain criteria. Then reaching out to these people in the hope of converting potential customers into new customers.

 

Why is sales prospecting important?

Any company’s lifeline is its sales team. Sales reps are responsible for bringing in cash flow through the acquisition of new prospects and conversion of customers to them. Businesses need to remember that even if you feel you have enough customers, you shouldn’t stop prospecting. Prospecting must continue in order to grow your business consistently.

This allows the company to have a wide customer base that can outperform its competitors even during slow growth periods or recessions.

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What time should you prospect?

Sales prospecting should be a daily habit. Even if you don’t have any new prospects to reach them, it is a good habit. Today, technology can automate a lot of the sales prospecting process. A company that was not a good fit for its customers today may become a great match later.

Inbound vs. Outbound Prospecting

Inbound Prospecting

Inbound prospecting is about nurturing potential customers that have already come to you. You might have referred them to your website via a blog post, a lead magnet, or through an email. Inbound prospecting is a personal approach to a lead.

The prospect has complete control. They’ve come to you and they have the right to choose whether or not they want to leave.

They have been attracted in by a magnet. You can use content, video or social media to draw them in. Find out how they found your profile and build trust with them.

Outbound Prospecting

Outbound prospecting involves sending messages to your target audience in order to attract them. This includes things like cold-calling and email outreach. Outbound prospecting basically means that your sales reps make their first move.

This type of prospecting is based on cold-pitching and spreading awareness.

Summary

The sales process becomes easier once you have a good prospecting system.

Don’t waste time or resources on leads who want to get a free ebook. Instead, spend your time and effort on identifying your ideal sales prospect.

It takes some time to analyse your past data and identify common traits among your top customers. Once you have this persona it becomes easier to evaluate leads and eliminate those who don’t fit.

It takes some effort to identify and attract your ideal sales prospect. But it will be worth it. You will be rewarded with a higher sales quota and a better bottom line for your company.

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