All prospects are not created equally. Some are worth the continued investment of your time, resources and energy, while others will only sap your motivation, as well give you ample frustration and send you to an early grave. (Sales grave, that is.) Why do salespeople give these poor prospects more time than they deserve? Here are a few reasons for you to consider. The salesperson:
1. Lacks an adequate number of good prospects – so spends time trying to turn poor ones into sales.
(good luck.) 2. Mistakenly believes (as well as some sales managers) that everyone is a good prospect. (Not so.)
3. Doesn't know the difference between a good one and a poor one.
4. Is under pressure from management to see more people, close more deals, and KEEP BUSY. (most
of all, keep busy.)
5. Believes with enough time, the poor prospect will 'come around'.
6. Believes that presentation skills or closing ability are the most important sales skills.
Well, enough of the list. What is walk-away power? It is the willingness and ability to say enough is enough and move on to the next prospect. It is that point in the sales process, the qualification portion, where you discover that this prospect is no longer worth additional time. Even if the prospect did buy, the sale would not justify all of the additional sales costs to close it. If the cost of the average sale today is over $125.00 per call (and this number depends on whose statistics you choose to believe – it can vary depending on the type of sales you do. i.e. telephone, travel over long distances. etc.), does it make sense to have 5 appointments to sell a product or service that will generate $400 in profits?
I am not suggesting that you walk away forever. Prospect's circumstances can change. Today's start-up can become tomorrow's corporate giant. I am, however, suggesting that you weigh the consequences of spending too much time NOW with a poor prospect. Every hour you spend with a poor prospect is an hour you are not spending with a good one. And remember, while you are cultivating a poor prospect, your competitor may be cultivating your good ones.
Here is a simple technique to terminate a prospect. I have used it for years once I discovered that the prospect was no longer worth my NOW time.
Mr./Ms. Prospect, I appreciate the opportunity to discuss how our product/ service would benefit you. However, based on some of the information you have shared with me, I believe it is in your best interests if I get back to you in – 6 weeks, 6 months, 6 years – whatever).
Don't waste time on poor prospects, they sabotage your success and attitudes.
Tim Connor, CSP is an internationally renowned sales, management and leadership speaker, trainer and best selling author. Since 1981 he has given over 3500 presentations in 21 countries on a variety of sales, management, leadership and relationship topics. He is the best selling author of over 60 books including; Soft Sell, That's Life, Peace Of Mind, 91 Challenges Managers Face Today and Your First Year In Sales. He can be reached at tim@timconnor.com, 704-895-1230 or visit his website at www.timconnor.com. |
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