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Chapter 7
Feeding Your System With New Prospects
You’ve set up your System and now you want to follow Step #10 of the previous chapter which said, “Repeat the Process.” One problem. You need to feed the system with new prospects. (That’s like saying to George Foreman, “Don’t worry, George, whenever you are hungry, I’ll find you a burger.”) You’ve defined your territory and now you’re identifying people who have an apparent interest in your service. In a previous chapter I suggested business directories as a fast and effective way to begin the process. If you are going to keep The System operating, you need lots of tools to find prospects. Here are other proven sources of prospects.
Client Referrals
Approach a handful of satisfied customers. The best time to do this is as soon as a customer congratulates you or thanks you for a job well done. You can then say without hesitation,
Salesperson: “Thank you for saying that. Incidentally, do you know any other people/companies/ associations who might enjoy learning about our service/program?”
Be a little cautious when asking customers for referrals. Your client might not want to take the time, take other people’s time, or personally endorse things. If the client says no or dodges your request, be smart and let it drop.
One other suggestion. Build into your System a “referral letter.” Keep a form on your word processor, and whenever you complete a job for a client, send it out soliciting two things: (1) a brief note of recommendation; and (2) the names of any people the client thinks may benefit from your services.
Ask Prospects
Another good method for building your prospect base is by asking prospects . Many salespeople assume that if a prospect doesn’t buy from them there is no potential left in the relationship. Not so. A prospect can and should be asked for referrals. You need to create a recognition in the prospect of your professionalism before asking for a referral. But if you are perceived as credible, trustworthy and ethical, your prospect will have no qualms about referring you to others.
When you approach a prospect who is totally happy with his service provider, he would be nuts to switch just because you appear somewhat squared away. His failure to entertain your offer has nothing to do with you or your company. Simply say,
Salesperson: “It is refreshing to hear that you are a satisfied customer but perhaps you know somebody who is not so happy.”
You then ask for a referral. If you don’t get one, you are not a clown. You haven’t set yourself up for rejection. This is nothing more and nothing less than a professional way of doing business.
Company Leads And Orphan Clients
This source is often overlooked. Your own company probably has highly qualified leads buried in file cabinets — former customers who have done business with you years ago but for one reason or another have stopped. When you unearth a former client, you call them and say,
Salesperson: “Mr. Jones, I understand that you once did business with us and you stopped for reasons that are unclear to me. I’d like to learn what problems might have upset you so I can fix them and ask you to give us another opportunity to work with you.”
(I am not suggesting you parrot my words. If you like them and you can say them naturally, by all means, be my guest. Chances are you will feel better using your own words. Either way, you get the drift.)
By farming your own file cabinets you will find without question some qualified prospects who have a use for what you provide.
This source is often overlooked. Your own company probably has highly qualified leads buried in file cabinets — former customers who have done business with you years ago but for one reason or another have stopped. When you unearth a former client, you call them and say,
Salesperson: “Mr. Jones, I understand that you once did business with us and you stopped for reasons that are unclear to me. I’d like to learn what problems might have upset you so I can fix them and ask you to give us another opportunity to work with you.”
(I am not suggesting you parrot my words. If you like them and you can say them naturally, by all means, be my guest. Chances are you will feel better using your own words. Either way, you get the drift.)
By farming your own file cabinets you will find without question some qualified prospects who have a use for what you provide.
Your Company’s Employees
Some time back, I had been working with a company for two years, when one of our employees came up to me and said, “Mike, I don’t know if you’re interested in this or not, but my next door neighbor works for IBM, and I think he’s connected somehow to the purchasing department.” My immediate response was, “Where have you been for two years?”
My permanent response was that a good way to build a prospecting list is to ask your own employees if they know anyone who might have an interest in what you do.
People who are not marketing oriented do not think about sales. They think about operations. So, if you approach some of your employees and ask them who they know — neighbors, friends, relatives — who might be interested in what you do, you’re going to uncover some potential prospects with a personal connection to someone in your own company.
Friends And Social Contacts
Friends and social contacts are another area that many salespeople fail to capitalize on. I’m sure you have some friends that don’t know what you do for a living. Take the time to write them and explain exactly what you do. Then ask for referrals.
How about memberships in civic and professional organizations? You can’t join them all, but you can join the Rotary Club, Chamber of Commerce, P.T.A. or any clubs that are of particular interest to you. (Of course, you should not join just to sell something.) You will join to learn, to network or to congregate. Along the way, you will have ample opportunity to explain what you do for a living.
Centers Of Influence
A center of influence is someone with above average visibility, reputation, or Rolodex in a position to point you toward prospects or steer prospects to you. He or she is someone important to you for one reason or another. There are centers of influence in every facet of life.
To ask a favor of someone who is going to influence the opinion of others, you’ve got to have established a certain level of rapport. Be sure that this person understands the benefits you have provided other clients as well as the type of prospects you are interested in.
Canvassing
Canvassing is a term used for cold calling. It used to be known as “chasing smoke stacks.” There’s a right way to do it and there’s a wrong way. Here’s the way I do it.
First, you can’t afford to just cold call. Ringing doorbells and walking into companies unannounced to make a sale runs the risk of labeling you a nuisance. Consider these two methods: First, politely and unassumingly walk into a place of business and ask for information. If your territory is like mine in New Jersey, every building has a sign hanging on the door saying “No Soliciting.” News Flash! You are not a “solicitor.” A solicitor by definition is someone who is attempting to sell something. You’re not selling anything. Think of yourself as entering this office seeking information.
Walk up to the receptionist feeling very squared away with your card in hand and say,
MM: “My name is Mike Marchev, Corporate Travel Systems. Since I was in the neighborhood, I would like to find the name of the person in your company responsible for making travel decisions. I’d like to write the person a letter and introduce our services.”
You are not selling anything. You are looking for a name. The receptionist will provide you with a name every single time. Then say,
MM: “Excuse me, but do you have an envelope?”
They will give you an envelope every single time. On the envelope is the address of the company neatly printed. Write the contact name on the envelope along with the name of the person who just gave you this valuable information. (This is a good idea because chances are you will call that company in a day or two and it’s nice to say, “Mary, remember me? I was the fellow who came in and asked for that envelope the other day.”)
Do you see how easy this is? Turning to leave you have your envelope and you have the name of the contact. But a thought strikes you. You turn and ask the receptionist,
MM: “Excuse me, but does Mr. Smith ever see anybody unannounced?”
Most of the time they will say “no” and suggest you call for an appointment. But from time to time you will get lucky. You have absolutely nothing to lose. As long as you are polite, you can try this little gambit without apology. If the person does grant you some on-the-spot face time, your solitary mission is to introduce yourself.
MM: “Mr. Smith I appreciate your coming to see me. My name is Mike Marchev. Is there a time next week when I can meet with you to introduce our service? It will take about fifteen minutes. I think you’ll find what I have to say to be very interesting.”
Most people caught by surprise will only be seeing you out of natural courtesy and they will appreciate your professionalism in not trying to sell something on the spot.
Here is the second method I use to canvass: Walk into an office unannounced and say,
MM: “Excuse me, I was driving by and couldn’t help but notice your sign on the front lawn. What is it that you do here?”
Again, you’re not selling anything. You don’t go in with your bag of tricks or your brochures. Often, the receptionist will feel unqualified to answer in detail. The receptionist will call Mr. Smith and say, “Mr. Smith, someone’s at the front desk asking what we do.” If you’re lucky, Mr. Smith will come out to check out the action.
MM: “Mr. Smith, Mike Marchev is my name. I was driving by heading for the Bigelow Company and I saw your sign. I was curious to learn what your company does.”
True story: I have had plant tours as a result of walking into companies unannounced and showing an interest in what they do.
Conventions And Trade Shows
These are always good places to pick up leads and capture names. Again, you are not there to sell; you are there to identify prospects. You approach a booth and introduce yourself.
MM: “My name is Mike Marchev. I know you’re busy and trying to sell. Here’s my card. When you get back home in a couple of weeks I’d like to call you. I think I have something that you’ll want to hear about.”
They will take your card 100% of the time, if only to get rid of you. After all, they paid a huge rent to stand on a 10 x 10 square foot piece of convention center to do what you just did for free. Yep! They’ll take your card every time. Take their card as you leave. Now, you have a person’s name to follow-up with, and you have a common denominator, the show.
Directories
As mentioned in Chapter 5, be sure you check your local library for information, and introduce yourself to the reference desk librarian. (Consider her the Captain Kirk of the book stacks — helping you to boldly go where no salesperson has gone before . . . to seek out new leads and new prospect locations.)
Networking
The purpose of networking is to make contacts with people who have a common interest and to utilize their contacts and experiences. Don’t for a minute think that networking is only about you. An equal, if not more important, piece of the networking puzzle involves you helping others achieve their goals and objectives. In fact, I strongly urge you to give before you get.
Professionals meeting and helping professionals — that’s what networking is all about. Several years ago I joined the New York City Sales and Marketing Club. At the time, they held luncheons once a month and often featured a guest speaker. At every meeting I would meet ten to twelve new people, swap business cards, and find out what they all did for a living. It was fun and I looked forward to each meeting.
Networking may occasionally appear to be a waste of time. But when it works, it pays big dividends. It’s effective because nobody gets upset that you’re hustling — the arena is set up for working and interacting. You don’t go there if you don’t want to meet people and find out who’s doing what and how they can help each other.
The Sunday Newspaper
Every Sunday morning I pour myself a cup of coffee and open the newspaper. I turn to the Help Wanted Ads and clip advertisements of companies in my area. I figure the companies that are hiring are growing and probably need to buy supportive materials and services. The ads are usually sorted by industry. So, if you know your target industry, the prospecting becomes very focused. In many of the ads you can find a contact’s name or an address. Some even have phone numbers.
Every Sunday, you will find about fifteen or twenty new opportunities. Simply clip the want ads from the newspaper and on Monday morning, as soon as you get to work, make some phone calls.
Direct Mail
This is one of my favorite ways to add names to my prospect list. Direct mail positions you as a professional organization and will prove instrumental in getting you in to speak with decision makers. If administered properly, your prospects will call and ask to see you.
Newsletters Produced By Your Prospects
Try to get on corporate mailing lists if you can. Getting on a prospect’s mailing list can be very rewarding because the latest information comes right to your door periodically with contact names, phone numbers, calendars, events and much more. How cool is that?
Ride The “Terror Train”
An actual survey some years back uncovered the one thing that most professionals feared literally worse than death — public speaking. But if you can get by the terror of the first few times, you’ll find speaking is a fabulous prospecting tool. Why? Because it positions you as an “expert.” You are The Authority. (Relax . . . you do not need to know all the answers to be an “authority.” The proof: All those Wall Street analysts interviewed on TV who sound impressive at the moment, but turn out to be wrong about as often as they are right.)
You can make opportunities happen. Regardless of your industry, I am sure you have some information that many clubs and organizations in your town would find interesting. You simply write an introductory letter and say, “I’m available to speak on ABC. If you would like to learn about ABC, give me a call. I’ll be happy to fill in on short notice or help whenever I can.”
Professional organizations will call in response. They are always seeking people to speak at weekly or monthly luncheon programs. Just write a brief letter and say you’re available. Period. All Aboard!
You can see from the above suggestions that there are many ways to find prospects who can use your service. Consider yourself a gorilla warfare commando. If you are like most entrepreneurial companies you probably don’t have the dollars and the people to do big promotional projects. That’s okay. Use your energy and cunning to try a few of the things I just mentioned. Launch a luncheon speaking grenade here, a direct mail missile there. Commandeer some newsletters.
What you’re trying to do, and this is very important, is to identify people to put in the top of your funnel to sort out as suspects or as bona fide prospects. Do this and you will have more and more customers.
