When I started in sales, I read somewhere that prospects can fall into one of three general areas:

1. So deliriously happy with their current solution that they’d never consider switching

2. Actively shopping for your product or service

3. In need of your product or service but not aware that a solution exists.

The breakdown I remember was something like this:

If the numbers are correct (and in my experience, I think they are pretty close), there’s a 90% pool that’s worth going after.

Most salespeople go after the the 30% pool. They are the relatively easy low-hanging fruit. They know your product or service exists. They know (or think they know) that it meets their need. And they are relatively close to making a buying decision. So what’s not to like?

They are also actively shopping your competition. When I sold windows, we called them the “Three Estimate Crowd.” They knew they needed windows, and they were in the process of getting three estimates before making a decision. Your challenge in closing them is that they are highly price conscious. I went on many sales calls where my company had been given a glowing recommendation from a past client. And yet, they still got three estimates. Frustrating.

What about the 60% pool? They are harder to attract because they may have a need, but it hasn’t grown to the point where they are ready to make a decision. Or they don’t yet know they have a need because they are completely unaware that a solution exists.

But, and here’s the important point. If you can get in front of them and show them an answer to a question they hadn’t asked yet, they are highly motivated to buy from you. Think about it. You are hungry, but you don’t know that food exists. Then someone shows up and hands you an apple. What’s your reaction going to be? Hmm, an apple. I’m not sure. Let me first try out a pear and an orange and then I’ll make a decision. Not likely! I’ll bet you grab the apple, eat it and proclaim it good. Then you’ll go looking for more apples.

With prospects, it can be the same. Show them a solution to a problem they hadn’t known could be solved or hadn’t yet hit their radar, and they are more likely to buy from you instead of shopping around. They might not do it today, but if you respectfully stay in touch with them, they’ll get there some day.

Don’t get me wrong. You need the 30% group too. They want to write a check soon. You need those customers. But having a bunch of the 60% to cultivate can keep your pipeline full forever.

How do you find them if they don’t know to look for you? That’s where networking and social media come in. Over the next few days, I’m going to show you how to use those channels to attract those 60% and turn them into clients.

Tags: sales

This entry was posted on Thursday, June 17th, 2010 at 7:39 am and is filed under Networking. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.