PPB January 2019

Sales Prospecting | FEATURE | JANUARY 2019 | 89 “H ow do you decide who to prospect, and where do you find clients and potential clients?” As a supplier and active social media user, I recently posted this question on an industry group Facebook page to start the conversation on a topic I think is critical to business success—and apparently others do too. My intent in asking this question was to engage the community and encourage idea sharing, and to gather and present the results in a way that would help people and encourage them to look for new and easier ways of prospecting for new customers. Prospecting is the first and possibly the most important step in the sales process and it involves systematic communication to convert someone from a prospect to a customer. Because different methods of prospecting produce different results, it is incredibly valuable to understand how different industry companies do business. It’s interesting to note the differences between what prospecting looks like for a small business versus a big business, or more importantly, to those who have a big-business mindset. If you are thinking like a small business and acting like a small business, then chances are, your business will remain small. And that’s OK if you are happy with your sales volume. There is no right or wrong way to prospect. However, if you’re hitting a wall or not seeing the growth you’ve been hoping for, it might be time for a change. How Do Other Companies Prospect? Most of the distributors who responded to my post represent small companies. For them, successful prospecting techniques include networking and cold calling on local businesses (see sidebar on page 90). Unlike small businesses, larger organizations don’t bother stopping in random businesses hoping to find the right contact. Instead, they employ the services of companies that provide qualified lists of prospects. While these lists typically come with a hefty price tag, they take most, if not all, of the guesswork out of prospecting. If your competitor is using such a list, they likely have access to comprehensive information from company names and decision makers in a certain geographic area or industry niche, to annual sales, annual budget spend and much more. There is no other prospect information available to small companies that large companies don’t already have or have access to if they are using these kinds of lists. So, though no single company can legitimately lay claim to a specific prospect or client, it may appear that a larger company is calling on or marketing to someone a small company’s sales rep considers to be their prospect. Instead, it is far more likely that the small distributor is calling on a prospect the larger company is already working with. Use Promo To Sell Promo Have you ever received a request from a client asking for a quote on a pen they just got in the mail? As industry professionals, we profess that promotional products are the No. 1 way to get in front of new clients and to keep existing clients. However, it seems we often employ every other prospecting strategy before we use our own products. We cold call, e-mail, make in-person visits, drop off catalogs and use social media in an attempt to tell the story about the power of promotional products. At the same time, we don’t think to—or are not willing to—invest in our own medium: promotional products. Larger companies, and successful small- to mid- sized companies as well, know the power of promotional products and use them strategically to market to and win clients. It’s that simple. The big takeaway from this is that promotional products work, and your competitors’ direct mail packages are proof. While it’s frustrating for your clients to receive marketing materials from a competitive company, in truth you should thank them for creating awareness about promotional products. Imagine though