Last week I started a serious called the “Five Steps to Successful Selling” and wanted to continue this week with step number two. Step two is about the “Necessity of Prospecting.” In this step we will break down the difference between prospect vs. suspect. Also, we will talk about the prospecting/sales ratio. So without any more delay let’s get our teeth around step number two.
A.) Prospect vs. Suspect – What is the difference between the two?
Prospect – someone who may be a potential client.
Suspect – someone who you have an 80% chance to close on.
The difference here is that a prospect is all the available people who you can market to and a suspect is someone who is pre-qualified and someone who is already in the behavior mindset to buy training. Focus on suspects!
B.) Prospecting/ Sales Ratio
1.) poor sales ability – numbers game. If you are willing to continously try and determine who is a prospect or suspect and market to them than you can be great.
2.) great sales ability – if you can identify a suspect and close then you will be successful at sales. You need to measure your closure rate to determine if you have a great sales ability.
In order to be successful at sales you need to know the difference between a prospect and a suspect. Make sure you close on every suspect you come into contact and try and increase your closure rate on prospects. Also, if you don’t track or measure your closure rate you will be unable to determine whether or not you have a good or poor sales ability.
