8 Ways to Let Go of Prospects Clogging your Sales Pipeline
Ever have a prospect that hangs around like the massive burger you ate three days ago? Clogging your sales pipeline by taking the precious time you could be spending on candidates that will buy?
We all know that breaking up is hard to do. However, you are in this game to make it happen, so don’t let people willing to take all of your time, but never buy, be part of the game.
The following is a guide to putting these inactive prospects in your rearview mirror. These types of prospects often look so close to buying but are always just beyond your reach. The excuses are endless, and a sale is never realized. Time management is a crucial element of the sales process, and these prospects are time suckers.
So, the question becomes “How long you are willing to keep up the chase?” You have followed all the steps in the sales process: done your research, uncovered their needs, told a compelling story, removed any doubts, and developed the ideal solution for their company’s needs. Every time you call on this prospect, it seems they are so close to committing, but something, or (someone) is standing in the way. The following are some tips to help you advance the sales or cut ties and make better use of your valuable time.
- Is the prospect a qualified buyer?
Some middle management types will lead you to believe that they are the decision maker when in fact, they are not. Take the time to research the chain of command and who is involved in the decision-making process. It is rarely ever one person alone and in most major companies is between 5-8 different people from areas of the business that will be impacted by the change.
- How many times have you had contact?
While it can take 5-8 calls to get a commitment, and even twenty in some industries, there is a time when enough is enough. Figure out what the average looks like in your industry. Keep track of the number of touchpoints and where the conversation is going. If you hear your voice echo into the abyss after 20-40 attempts, it may be time to reassess the opportunity.
- Have you followed and completed the sales cycle?
Follow-up is the number one reason salespeople fail. There should be a plan that adds value for the buyer throughout this process. If you are half-assing it to check the box, then you will see the results of your efforts. Take the time to plan your sales approach and make “buyer defined” value the center of your efforts.
- Have you developed the ideal solution to meet the company’s needs?
If you have done a thorough job in the research, rapport, discovery, solution, commitment and follow up phases of the sale and still do not see a purchase made, the prospect is most likely not a fit for your offering now.
- Have you removed any doubts by asking questions, providing client testimonials and uncovering unanswered questions?
Do you know the risks of making the change? Having client testimonials to provide of others who have successfully made the change will help by alleviating the fear of the unknown while making a statement of your credibility.
- Have you identified the costs for the prospect associated with inactivity-time, money, etc.?
Both your time and the candidates are valuable. Take the time to understand the impact of your value to the business. What are they doing now? What is the cost associated with the current solution? A lack of time and resources are usually the reasons people do not move forward. Identifying the cost of doing nothing may push your solution farther up on the list of competing priorities.
- Have you established a timeline, when they will decide?
When prospecting, it pays to get in the habit of asking what happens next. If you build a roadmap to the next step, both sides are clear on the process. Having a system in place for what happens next is efficient for both parties and establishes credibility in the eyes of the buyer.
- Was this a Waste of Time?
These prospecting efforts do not have to be viewed as a loss of time and resources. Hopefully, you have established a great relationship with this individual. Ask if they know anyone else who might benefit from your offering. Keep in touch with them through timed emails and quarterly follow-up. Who knows they may be a buyer someday, just not today?
My recommendation: Some salespeople tell me they have built a strong rapport and like these individuals. In sales, I believe your network is your net worth. If you value the connection, keep them in your circle of friends.
Moreover; I recommend taking them off the top of your prospecting list. I would love to hear your thoughts. If you are interested in learning more click here: https://www.hnhsalesconsulting.com/
