Like a shark, the business that stops moving dies – and the best way to keep moving is to continually bring in new clients. But salespeople aren’t prospecting for new business until their sales pipelines are thin. They’re not prospecting consistently, or worse yet, not at all. They’re hesitant to call high enough in the food chain. When they do engage, they fail to separate themselves from the competition. They spend too much time on current accounts and not enough on finding new ones. They aren’t following the carefully plotted strategies designed to pull in new business.
Cold calls and emails are no longer driving new business.
Do you know what’s not working, or how to find out? Are your people hiding behind email prospecting? Prospects should be targeted, both in terms of choosing an audience and choosing how to communicate with them.
Cold calls are your sales team’s only source for new prospects.
Prospecting isn’t just cold calls. Asking for referrals, networking, strategic partnerships, and sales 2.0 tools are all parts of the sales prospecting process, and avoiding them is just as costly as failing the cold calling process.
You have no prospecting strategy in place.
If your sales team is just being sent off to figure out prospecting on their own, they won’t be effective. There has to be a plan for who to target, how, and at what frequency. Does their prospecting strategy match the marketing strategy? Expectations must be set from the beginning, and held accountable to ensure the prospecting strategy is on pace with new business goals.
Your salespeople aren’t dividing their time properly.
Are they devoting all of their time to existing clients, and only prospecting when their pipelines are empty? Are they avoiding prospecting by pushing other, less important work in front of it? Do they feel like they “don’t have time” for prospecting because they waste it getting ready to get ready?