How To Tell Prospects From Suspects
I read about a Swiss optician with a great sense of humor. He told of a letter he had received back in the days of the wild west, mining towns, saloons and horses with saddles, instead of pedigrees and opulent barns.
The letter came from a saloon keeper with a problem. His letter was along these lines :
” Dear Sir,
I have heard that you sell distinguishing specs. I need some that will help my bartenders distinguish my money from theirs, as they are having trouble with that now. Send three pair. Enclosed is $10. “
I have had trouble early in my sales career in the distinguishing of prospects from suspects. And I have often wished, when entering a new market, that I had a pair of magic distinguishing specs to help me seperate prospects from suspects.
Think of how productive you would be if you never had to waste time on suspects, but were able to concentrate on prospects. Talking with only those who can afford your product, who need your product and who could buy your product would be far superior to wasting time on those who can’t buy, won’t buy, can’t afford and don’t need what you sell.
There are no magic distinguishing specs, but you can improve your prospect judgement. Take time to set up a system of checks and balances to eliminate the time wasters that don’t need your product, but still lead you on in the process of selling and buying.
After every wasted sales call, write down what it was that drew that person to accepting your offer of a sales call or what it was that attracted them needlessly to your product. Eliminate that from your advertising and marketing and you’ll eliminate those types of calls.
I personally never allow a salesperson to call on me if they have no shot of selling me their product or service. I respect their time and mine more that that.
Show-N-tell time…..What can you add to the process of distinguishing prospects from suspects ?
{ 6 comments… read them below or add one }
Hi Mike,
The B.L.U.F.: Suspects are people you COULD do business with (they meet your target criteria). Prospects are people you’re working with actively, now, and who are engaged in the process.
Strange coincidence you posted this. 3-4 years ago Stephan Schiffman wrote Getting to Closed. I say coincidence because I just added that book to my “book club” yesterday. It’s the only book I know of that talks tactically, not philosophically, about managing your sales process and only “playing ball” with people who play ball with you. In other words, they demonstate they’re serious by making and keeping scheduled appointments first and foremost.
Then, he says, you continue to know they’re serious as that process continues, with the prospect meeting specific criteria he outlines in the book. Check it out, it’s only $10 at Amazon. I rolled out that program at two companies with 1) fair results the first time, 2) excellent results the second time. It’s completely objective, taking all the gut-feel, hopes, wishes, and hunches of the salesperson.
I’ve got two tools coming out that help a sales manager, or individual rep for that matter, take a look at their pipeline along these lines. I’ll let you know when I’ve published them.
Take care.
Great post Mike.
I know this happens somewhat all the time in the web development industry, but you will always have new ‘potential’ clients that want you to look over their project, and create a mock up or demo specifically for them, free of charge.
I always take a step back away from these suspects, as I have learned these type of ‘tire kickers’ never follow thru on the sale. If they can not determine my quality of work based on past projects and results I can show them, then I don’t waste my time or energy on them by making a mock up just for their project.
Thanks
Jason Brown
Thanks for the heads up Brandon. I have other books by S. Schiffman, but missed that one. I’m also looking forward to the tools you spoke of.
Hey Jason - You have now become an Official Suspect Senser. Congrats ! And welcome to the club.
Mike,
LOVE your premise here. When one considers the function of PROSPECTING for what it is (sorting out the useless stuff from the useful stuff), then figuring out how to get to the “NO” quickly with these folks is critical to the efficiency of the sales process…whether you’re a sole proprietor or AT&T!
I’ll be back….love the blog!
Thanks Doc !
I appreciate the confirmation and your time.
Since I see you’re from St.L, I’ll admit to being a lifelong fan, having grown up in the western part of KY.
Go Cardinals !
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