Article: 3 Types of Prospects
to Go After in a Volatile Economy
RainToday.com, November 2008
By Vickie K. Sullivan
When the economy is unpredictable, it's very tempting to
run around selling to any kind of prospect with a budget.
In the spirit of "just get out there," many professional
service firms will talk to anyone, sell to anyone and as a
result, waste a lot of time with folks who may have the resources
but are not willing to buy. Instead of looking at who has
the budget, let's also look at urgency. In this economy, three
agendas emerge that create the motivation to buy. Clients
with these inclinations are more willing to move past economic
fears and move money around to get what they want. They are
a better group to devote precious marketing efforts on.
The unstoppable visionary
Who are they: Visionaries are the evangelists. They
are on a mission. They aren't going to let the economy stop
them from attaining their goal. Some are in denial and need
a reality check. Some are well aware of the violate economy
and believe they can win anyway. The urgency comes from within.
With these folks, it is personal. Coaches are a natural fit
for visionaries, as they realize that the journey to their
goals requires changing their behavior in order to influence
others to change as well.
Where to find them: In the media and in industry conferences.
Visionaries are natural hosts -- they build bandwagons then
invite others to the party. They are easiest prospects to
find, as they are out-front and very vocal about their views.
The goals will be transparent; the agenda behind the goals
will require more work.
What to pitch: Because they are so easy to find, visionaries
are deluged with offers to help. The key: focus on being the
conduit without coming off with a brown nose. Visionaries
don't need more visions -- and they won't tolerate any conversations
on why their goal won't work. They need a path to get them
from point A to Z. They need accountability and ongoing feedback
in the face of obstacles. They need to hone their personal
brand and interpersonal skills to build support. Start with
conversations that show that you have unique approaches that
are in sync with their world view. Suggest nuanced ideas that
make them think. And be bold. Visionaries love stimulating
conversations with peers. Chemistry is everything with these
clients.
The opportunist
Who are they: Opportunists are the predators. They
see the economy as clearing out the deadwood and want to use
the situation to their advantage. They are on the hunt for
new opportunities and want to springboard their current success
into something bigger when the economy turns. Their urgency
is speed. They don't want to miss any chance to get ahead.
They are motivated by winning. Like the visionaries, these
folks are forward-thinking. Unlike the visionaries, opportunists
look outward rather than inward. They love working with consultants,
especially those focused on strategy, finding and exploiting
opportunities.
Where to find them: Harder to find than the visionaries
because they are lurking. (It's hard to pounce when everyone
can see you.) Best place to start is the grapevine. Most companies
in a position of strength will want to get stronger in this
economy, so they will put out the feelers. Look at media announcements
for mergers. Your brand is critical here. Be attractive with
speeches, articles, etc. on opportunities and let them come
to you. Personal introductions work well, too.
What to pitch: When word gets out on who is on the
prowl, these folks will also be inundated with offers. They
key: focus on having the inside scoop. Opportunists don't
have time to waste, so they approach who they want to work
with rather than working with who shows up. Those who show
thought leadership before the search will have the inside
track. Start conversations and/or speeches on trends and where
to find the best opportunities. Be strategic and show nuance.
And be prepared to apply your ideas to their situation (just
a sample!) to differentiate you from the hordes.
The paranoid
Who are they: In the animal world, the paranoid would
be the gazelles. Fast, nimble but always on the lookout for
predators. These folks are strong enough to withstand the
economic pressure but still feel the effects and are worried
nonetheless. Like the visionaries, the paranoid have goals.
Like the opportunists, they want to grow. But their urgency
is based on survival. Already successful, these organizations
want to keep what they have. They are concerned enough to
avoid risky strategies but not panicked enough to shut down
all spending. They will invest in staying strong. This is
the most conservative group, but don't count them out. Survival
is a great motivator. These folks resonate with the feel-good
message many motivational speakers bring.
Where to find them: These prospects are the hardest
to find. Of all the categories, they feel the most vulnerable
and don't want to tip their hand. Networking and referrals
is the best way to flesh out this agenda. Like the opportunists,
attraction works well for the paranoid. So any articles on
how to survive/thrive will bring out the kindred spirits.
Speaking at industry events is very attractive; speaking at
their events is the best way in.
What to pitch: Because they are already strong, even
the paranoid will be flooded with opportunities to invest.
Many professional service firms won't get past the gatekeeper
because they confused the paranoids with the opportunist and
pitched new growth too hard. The best approach is a blend
of reassurance without appearing fatalistic. They are not
struggling -- just more concerned.
You're only as good as your clients
Regardless of the times, there are always winners and losers.
Those who have the urgency to act will do what it takes to
get what they need to prosper. By going after clients based
on their reaction to the economy, our efforts won't be bogged
down with fishing expeditions and folks too paralyzed to buy.
And that's a win in any economy.
Since 1987, Vickie K. Sullivan, President of Sullivan Speaker
Services, has generated millions of dollars in speaking fees,
book advances and ancillary income for her clients. Sign up
for her free market intelligence at http://www.SullivanSpeaker.com
|
