CHAPTER 1: THE REALITIES, MYTHS, ERRORS, AND URBAN LEGENDS BEHIND PROSPECTING (PART II)
Adapted from Perfect Phrases For Lead Generation By Bill Brooks

The Three Biggest Myths in Lead Generation

Myth #1: “Prospecting Is a Numbers Game”

That is simply not true. Prospecting is a game of accuracy. It is all about delivering the right message to the right people at the right time, in the right way. The more you do that, the more you will be able to prospect more effectively.

Remember, it is important to be accurate, correct, on target, and not to waste a lot of time with the wrong prospective customers.

Myth #2: “All Prospective Customers Are the Same”

Early in their sales careers, lots of salespeople are told to “go out and see as many people as you can. ” They are told that sales is all about activity. However, once a salesperson has experienced enough sales success and/or failure and has worked with large numbers of prospective customers and clients, he or she becomes aware of several realities:

• Some prospective customers will never buy, no matter what you say or do. Therefore, abandon them before they take up too much of your time.

• Some prospective customers will take up vast amounts of your time, regardless of how good or effective you are. Therefore, determine who they are and minimize your time with them.

• Some prospective customers are purely comparison and/or price shoppers.

• Therefore, determine who they are and never allow them to compare “apples to apples” or “drive you to your knees. ”

Not all prospective customers are created equal.

Myth #3: “Positioning Is for Companies, Not for People”

This assumption couldn’t be more incorrect. To every single prospective customer you see, you are your organization. How you present yourself relative to minor concerns positions you well or poorly. The choice is yours. You need to position yourself in the way that your prospective customers want to see you in order to help them solve their biggest issues.

The Three Biggest Lead-Generation Mistakes and How to Avoid Them

Mistake #1: Dealing with the Wrong People at the Wrong Level

What you sell will determine the level of the person you should be contacting. It will also determine who, by title, you should not be seeing.

The problem is, far too many salespeople tend to enter accounts at too low a level and then never recover. This is a misplaced strategy and is a much bigger problem than most salespeople (or sales managers) realize.

If you enter too low, tell your prospective customer that you are required by management to deal with higher-level decision makers and then report those findings to your manager. Then, say that you need that contact’s help in getting to the higher level. If your organization is a smart selling organization, that should be a requirement—either formally or informally.

Mistake #2: Spending Too Much Time with Unqualified Prospective Customers

Think back to Part I, the January newsletter, and remember the five traits of qualified leads:

1. An awareness of their need for whatever it is you sell.

2. Both the authority and the ability to pay for it.

3. A legitimate sense of urgency relative to acquiring it.

4. Trust in you and your organization.

5. Willingness to listen to you.

Don’t be fooled into believing that someone willing to listen to you is necessary a qualified prospective customer.

Mistake #3: Employing the Wrong Lead-Generation Strategy

If your strategy is wrong, then even the best proven phrases will not succeed. Like the decision to deal only with qualified prospective customers, the choice of strategy is critical to your long-term success. You must deploy a strategy that is consistent with how your customers buy your product or service instead of how you want to get in front of them. Don’t try to forge partnerships with people who don’t want to have partners.

Your decision or strategy for prospecting could also be driven by the following factors:

• Where you are in your sales career

• Whether or not you have current or inherited business

• Your personal skill sets

• Tools you have at your disposal

• The product or service you sell

• Who your best targeted prospective customers might be

• Budget considerations

• Marketing support

• Clerical support

• Purchasing patterns of prospective customers

Only you can review these issues. No words, no matter how well conceived or delivered, will offset a flawed strategy.

The Hardest Part of Prospecting

Acquiring new leads is the most difficult part of the sales profession, especially if you’re new to sales or in a new sales position. The key to continuing that success is to avoid becoming complacent and, as a result, failing to find new business on a regular basis. This is true no matter what you sell.

You need to engage prospective customers based on the way they buy—not based on the way you want to sell them. In their expectations of the sales experience, your prospective customers generally will be:

Transactional—they buy and move on.
Relational—they want a meaningful, ongoing interaction.
Strategic—you jointly anticipate their future needs.

No matter what your strategy is, you’ll lose many of the accounts you win. Eventually you will be replaced for a reason that may not even be your fault. No matter what you sell, the reality is you must learn to service your customers as well as you can. Be sure to consistently go out and find others to replace them before they leave!

The bottom line is, providing excellent service to your accounts is the best form of prospecting. Sometimes even that isn’t enough, no matter what you do!