It is important to identify the prospects that will have the highest need for your product or service. These are your best prospects—the ones who are most likely to buy, use, and recommend you and your services.
When you have identified your best prospects and know where to find them, you can use your marketing skills to generate leads that will most likely result in profitable sales. Qualified lead generation is the fuel that drives the engine of your sales success. The techniques discussed here can keep you supplied with highly qualified leads.
How can you identify those prospects that are most likely to want to hear your message? And, once you’ve identified the profile of those most likely to buy—your TOP 20%—where can you find prospects in large numbers who fit that profile?
Begin with an analysis of your sales over the last year or two.
In your analysis, you look at three things:
1. Who bought what?
2. How did you find and sell those customers?
3. Why did they buy what they bought?
Possessing the right marketing skills is crucial in properly identifying the right kinds of prospects for a company. Smart companies accomplish this responsibility by profiling the top twenty percent of their current customers who typically provide eighty percent of their profits.
Looking for new business is very expensive. Therefore, companies need to avoid the wrong kinds of prospects for them. Just as it is critical in distinguishing the attributes of the right prospects, a company needs to outline the characteristics that make-up the bottom twenty percent of their customer base. Anybody in business can easily recognize who the complainers, price-grinders, and transaction-oriented clients are. By clearly understanding the bad traits of those bottom twenty-percent, companies can much easier avoid the wrong prospects.
