Sales: mid-year review. Grow your pipeline
Are you consistent in your approach when building your pipeline?
We are all inundated with offers today, to the extent that most messages are simply deleted. Coupled with the new data protection legalities when prospecting, it’s no wonder pipelines may be looking a little dire, at this point in time.
Now is the ideal moment to review what went well, what did not and what can be done better. I’d like to offer a few tips to help you along the way:
- RESEARCH is key. Ensure you conduct thorough research to identify business and personal prospects. Online research is perfect here as it generally meets contact compliance requirements. Segment them appropriately to ensure you have clearly defined audiences.
- CONTENT must be relevant. Once you have your prospect segments, write a few bullets of WHAT THEY will be interested in. Then write a few bullets of WHAT YOU want to offer. Compare the two to get your concise message. Do this for each segment
- CHANNEL must be active. Your research should indicate where your prospects are looking for information. An example is B2B – linkedin. Once you’ve found them, see what groups they are members of and where (if) they have made comments in.
- CONTACT them directly and honestly. You can start this either via phone calls or via social media channels. Ensure you include GDPR statements offering them an opt in and an opt out. You’ll soon find out who is interested in what you have to say and who is not.
- FOLLOW UP until you have a yes or a no; regardless of how long it takes. Sales training experts and research analysts all agree – most sales (large or small, business or personal) can take in the region of 7-10 contacts to complete. Yet astonishingly, the majority of sales people give up after 3 or 4 attempts.
- GET HELP if you are in sales and deal only with a small number of accounts, then most likely will have time to properly and consistently execute these steps to build your pipeline. If not, you will need help – either through various internal teams; market research, inside sales, sales, account management – or via outsourced agencies who specialise in one or many of these steps.
One element to remember throughout this entire process – ensure you are CONSISTENT. Stay on track. Go small and work your way through your prospect list – this may take months to complete, but if you follow through with a consistent approach you can achieve your targets.
All too often, with pressures looming, these steps are not carried out properly, prospect lists are too large to complete, consistency in approach: segment/message/channel/follow up gets lost.
Naturally, I am going to offer our help if you need it. Feel free to call me – Melanie – to discuss any of the above.
Alternatively, if you have any comments to this month’s article of best practices, I’d like to hear your stories.
Have a good day all!
Filed under: News on July 17th, 2018 by Melanie Hill « 7 top tips for selling commercial health insurance | Breaking into South Africa »