3 Types of Prospects You Want
In Your Pipeline Now
RainToday.com, February 2010
By Vickie K. Sullivan
Lead generation has taken top priority in these challenging
times. After we cast the net out wide looking for prospects,
the next step is to look through our catch and throw back
the fish we don't want. Here are three kinds of "keepers"
that we want to add to our pipeline.
1. Ready and Willing
The first and most obvious: these are folks who are willing
and ready to buy. They aren't just qualified, but ready. Discriminating
buyers have redefined urgency, so lead generation activities
not only have to attract but also create a "do it now"
reaction. Many campaigns are good at the former at the expense
of the latter.
How do buyers get ready? First, they must have an immediate
reaction to to the promotion. It takes much more than a call
to action now to create a "gotta have that now"
response. Prospects have to see themselves and their situation
in whatever tactic you use to reach out. When they see their
problem up in lights, urgency is created. The narrower you
apply your expertise, the more competent you appear. The more
you diagnose and redefine the situation or their environment,
the more unique you are.
Second, they must have a way to make sure you are for real.
Your website allows them to do enough due diligence that all
they need to do is talk to you before deciding. They want
to make sure you can do what your promotions promise and want
assurance that their needs will be met. This impression builds
over time, which is why consistent exposure such as ongoing
columns or blog posts is important. They won't come to you
immediately, but when they do, they will be far along in the
sales process.
2. Willing and Exploring
The second type of prospects is those who are exploring but
qualified to buy. These are the ones worth nurturing. They
see your value, but other things have to happen first. The
biggest issue here is to separate the poseurs from the real
prospects.
To quickly separate the former from the latter, first look
at their track record. Do they have upward momentum? If so,
there's urgency to buy. Do they have a successful background
in another area? Then they know how to make things happen.
They have a bias towards action. These folks spend time on
what really interests them.
Another way to tell the difference: help them decide on a
deadline, then see if they keep it. Even if they don't, watch
how they break it. Do they acknowledge their role or make
excuses? If they make excuses, they are posing. IF they explain
a delay and recommit, then you have someone who is sincere.
Here's an example from my adventures: I had a prospect we'll
call Betty Sue. She sounded dynamic and had some measure of
success. She passed the first test; I was interested. When
Betty Sue explained that she needed to "do a couple of
things first" I probed by asking, "How long will
it take you to get those items off your plate?" She gave
me a straight answer: three weeks. Very decisive answer; so
far, so good. And I said, "Great. I'll call in three
weeks, and we can either talk about getting started or decide
not to move forward." She agreed.
What happened next? She wouldn't return my calls. And when
she finally did, she made some flippant excuse -- and then
giggled! That was a clue. I backed away slowly and focused
elsewhere.
It's better to explore with five real prospects than chase
15 people who have delusions of grandeur. Pay attention to
the subtle clues in your interactions and proceed accordingly.
3. Small and Steady
Finally, your marketing efforts will attract folks who won't
buy big-ticket items but will make many small purchases over
time. In corporate markets, these buyers face big budget cuts
and are stuck doing more with less. Or they are a nonprofit
organization and have always had to bootstrap. They see your
price point as a percentage of their entire budget. If your
market is small business owners, then your investment is being
compared to their gross revenue. The larger the percentage,
the higher the risk.
These leads are the easiest to find. They are usually the
majority of industry conference, webinar, and public seminar
audiences. Every market segment -- no matter how lucrative
-- has them. They are the easiest to ignore if you focus on
high-fee revenue streams; don't make that mistake. These prospects
are looking for a solution and are open to paying for additional
help. They are great if you want to make your smaller offerings
such as subscription services, webinar series, and public
seminars profitable. They can be your base for ongoing, more
passive income.
To get these buyers, the biggest hurdle is competing with
free resources. They will not respond to offers that duplicate
what they can get for free somewhere else. They respond well
to interactive programs with tactics they can implement easily
and on their own. Tools also are popular -- anything that
will do what they can't do alone.
Another issue to address because of the economy is risk.
The small and steady prospects are no longer willing to risk
even small amounts of money. The mindset used to be, "Hey,
if it doesn't work, it's no big deal. I paid very little for
this." With the uneven recovery, the perspective now
is, "I'm not willing to waste any of my resources."
Good Lead Generation Attracts Good Prospects
Sales success often rests on whom we focus upon. 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.
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
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