Keep Prospecting Now – Here is Why
March 25, 2020
We know your company plans on being viable when this global crisis has concluded, therefore you cannot stop prospecting now. This point cannot be stressed enough. You simply cannot stop prospecting. Whether your business expects to see continued sales right now, or your sales will be halted or delayed as a result of the crisis, prospecting becomes even more important during times like these. Each business is different, and we are seeing many companies across multiple industries, worldwide, facing extreme challenges that threaten their viability and survival. As a result, it is imperative you have a plan to reach out to prospective clients and stay in front of your current clients as well. You must plan for sales next week and next month while setting up potential sales for next quarter, next year and beyond.
In order to give your business the best opportunity to succeed, remain viable, and survive during and beyond this crisis, your sales team must be proactive. You should be prospecting at, or above the same level before the crisis struck. During times like this, additional prospecting efforts may be required in order to just maintain and sustain your current level of sales activity. It is essential your sales pipeline does not dwindle during this critical time.
Keep prospecting! You must plan and prepare for survival.
Your company’s future depends on it.
Here are 5 reasons why you should be putting maximum effort into prospecting now:
- You need leads – Sales happen when you have leads. Leads happen when you prospect. Your efforts in prospecting should never stop but especially in times of fear and budget cutting. Prospecting must be part of the plan if you expect to line up sales in both short-term and long-term time frames.
- Connect with current clients to retain and expand your relationship – You have clients right now. And you are providing products and services to them now. The absolute first goal with current clients should be to retain them as your client. It is a documented fact that it is far more expensive to obtain new clients than to retain current clients. In fact, it is up to 5-7X more expensive. Additionally, you can explore expanding your offering or offerings to them. Prospecting new products and services or presenting additional product/service lines to them, skips the most difficult and time-consuming part of the process. Take advantage of this opportunity to connect further with your clients to solidify that you are part of their solution and not part of their problem.
- Reconnect with inactive and lapsed clients – Your past clients are the equivalent of warm leads. Very warm leads. By reaching out to them, you have skipped the most difficult and time-consuming part of the prospecting process. These inactive and lapsed clients are already familiar with your company. Your prospecting call may be the perfect timing to remind them that they need your product or services once again.
- Keep communications flowing – By staying in communication with prospects and clients, you can remain top-of-mind with them. Especially with prospects, they haven’t worked with you yet and this may be perfect timing to establish a relationship, to better learn about their needs, and for them to learn about your products and services. Remember, they are navigating the same uncertain waters that you are, and they need to keep their company afloat and thriving during challenging business climates.
- Plan an outreach campaign to your competitors’ audience – We are all dealing with anxiety surrounding the circumstances none of us has ever seen. Business must continue, survive and thrive. Your competitors may take their foot off the pedal by cutting their budgets and prospecting activities. Now, today may be the perfect time to take the opportunity to reach out to competitors’ audiences and target markets. You may want to reach out and see if their current clients are happy and if they are not, learn why. This can be a very captive, willing audience for you.
These are unprecedented times and it’s important for all of us, our families, our colleagues and friends to keep business and the economy alive to the best of our abilities. It’s our livelihoods. The natural inclination may be to pull back, cut budgets, cut staff and any other expense that comes to mind. However, there are certain things that must continue in order to keep your business viable and thriving. You can stay one step ahead of the curve and continue to prospect or slow your activities to the extent that you will have a significant uphill climb to reinvigorate your business. You do not want to find your company playing catch up with your competitors who decided to proceed full steam ahead.
A reduced number of leads now and a less than full sales pipeline
will most assuredly have long lasting ramifications that are difficult to
quickly correct, if at all. You cannot be devoid of leads!
Plan for sales today, tomorrow, and the future. Plan for ways to keep your sales pipeline full, especially if your sales cycles are long. Plan to help your company remain viable and thriving. Cutting back on these plans can have long lasting effects that you may not be able to overcome. Intelemark and companies like Intelemark are helping businesses stay ahead of the curve. Don’t hesitate to find out what these companies can do to help you.