Friday Funnel Focus by EPOCH Sales Management Solutions
Prospecting is a crucial component of any successful sales strategy, and establishing the right principles and priorities can make a significant difference in your team's ability to generate new business opportunities.
“Everything flows from culture. Culture is everything.”
Building a successful sales function in a small business requires a holistic approach that considers culture as a foundational element. The saying "Culture is everything, and everything is culture" underscores the importance of creating a positive and productive work environment.
We first heard of this quote in Mike Weinberg’s book, “Sales Management Simplified.”
Let's discuss 11 prospecting principles and priorities for your small business.
Get the messaging right:
Clear and succinct messaging is essential to resonate with prospects. Ensure your team can communicate the value of your products or services effectively. How well can they answer this question?
What problem does your business solve that people are willing to pay for?
Test your sales people.
Can they deliver clear, succinct messaging to your prospects that truly resonates with them?
We endorse Mike Weinberg’s Company Sales Story for Tactical Sales Messaging (In New Sales Simplified) and Chet Holmes’ Core Story/Stadium Pitch for Strategic Sales Messaging (in the Ultimate Sales Machine).
Get the targeting right:
Each salesperson should have a well-defined, written target list for the month. This helps focus their efforts on the most promising leads. Review this in monthly accountability meetings to make sure it is right.
Did they create a finite, focused, written, workable target list for this month?
Set track and measure new opportunity goals:
Setting and tracking weekly and monthly new opportunity goals is essential for maintaining a steady flow of prospects and opportunities. This is the number one sales metric for new business development.
Do you set and track weekly and monthly new opportunity goals?
Use, protect and enforce time blocking:
Salespeople must allocate dedicated time on their calendar for new business development and protect it as a critical appointment. The recommended time varies but should align with your sales role and goals. We recommend 90 minutes to 2.5 hours each day for all account executives. Double those numbers for full time prospecting salespeople.
Do they block time on their calendar each day/week for New Business Development and protect it like it is an important appointment?
Dampen the roller coaster effect:
Yes, the first priority is to get paid. If there is something you can and need to do today to close a deal today, this week, this month, do it. After that work on the top of the funnel and then work down your sales funnel. Do not work your sales funnel from the bottom up. That is a recipe for the feared roller coaster effect.
Manage your sales funnel by prioritizing opportunities that can close soon, filling the top of the funnel, fully qualifying existing opportunities, making presentations, and submitting proposals.
Are they dampening the “Roller Coaster Effect” by working your sales funnel in this order?
- Closing Deals that can close today, this week, this month
- Putting something new in the top of the funnel
- Fully qualify existing opportunities
- Make presentation to fully qualified prospects
- Submit proposals requested by fully qualified prospects
Prospect on multiple Channels:
Utilize all available communication channels, including phone, text, email, video mail, social media, and others, to reach prospects through their preferred methods.
Do they use all available channels?
Meaningful Selling Interactions:
Measure and track meaningful interactions, such as appointments, phone conversations, email or text exchanges, requests for introductions or referrals and intentional networking events.
Do you measure and track meaningful selling interactions?
Encourage your sales team to practice their outreach techniques. A warm-up period can help them get into the right mindset before prospecting.
Do they schedule a “warm-up period” to practice each prospecting day?
Accountability is crucial for maintaining consistency. Create a system or have a designated person or team responsible for keeping your salespeople on track.
Who helps keep them accountable?
Number of Touches:
Research suggests it can take a total of 10 to 15 touches across multiple channels before a prospect becomes a lead or is disqualified. Ensure your team is persistent but not overly aggressive in their follow-ups. We do not recommend more than 3-5 touches on any one channel.
How many touches do they make before moving someone to nurture or DQ?
Effective follow-up is vital in keeping prospects engaged. Ensure your team has a well-defined process for following up with leads and maintaining the momentum of the sales process.
Remember that culture isn't something you can set and forget. It requires ongoing effort and commitment to maintain and nurture. By prioritizing a positive sales culture, you can set the foundation for a successful and sustainable sales function in your small business.To build a strong New Business Development Culture, it's essential to focus on these principles and priorities. Consistency, persistence, and effective communication are key to successful prospecting. Regular training and accountability will help your sales team develop the right mindset and habits for sustainable success in new business development.
You only have to measure the things you want your salespeople to do.
Make sure you measure what matters.
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