Building a Sales Pipeline
by
Philippe Lavie, president, KeyRoad Enterprises and a CustomerCentric
Selling® affiliate
Contact
Philippe by email
or phone at 415-934-1449
How do you get prospects who are not looking for the "things"
you are offering to start to look?
Many of my clients have asked me what their sales people can
do to increase their pipeline with qualified leads. The simple
answer is to spend more time on effective business development
activities. Such activities necessitate at least 20% of a
sales reps time and include, but are not limited to:
- Networking with existing friends, colleagues, and acquaintances
- Attending industry/trade meetings and walking the floor
- Securing speaking engagements at local and regional associations
or interest groups
- Hosting breakfast meetings for like titles
- Cold and warm telephone prospecting
- Direct mail/e-mail/fax prospecting followed up with direct
telephone calls
The most effective way to build one's pipeline is to engage
in a five to seven touch-point campaign combining direct mail
introduction, followed by phone calls, in a very specific
sequence. The thing I don't understand is that most sales
reps know that sequence, but most sales reps will also stop
doing it if they can find any excuse to use their time somewhere
else.
So where do we start?
Warren Culpepper, author of The Culpepper Report, writes
that there is a 5-year cycle in IT purchasing. Therefore 20%
of your total potential universe is actively looking for a
way to improve its operation through the use of your technology
at any given time. By the way, your competition knows that
too. It also means that 80% is not actively looking at any
given time. Not looking means that they do not perceive, at
this specific moment, that they have a need to satisfy, a
goal to achieve, or a challenge to address. So my question
is: Do you want to spend your time calling on the same universe
that the rest of your competition is also calling on, or do
you want to spend your resources and energies calling on the
80% that are not actively looking today, and bring to the
forefront of their priority the understanding that their operation
does need your offering to help them achieve a goal, solve
a problem, or satisfy a need?
Imagine two companies, one that is looking and one that is
not. Both have similar profiles, work in the same industry,
and have a similar history. Do you think that their C-level
executives share similar goals? If no one has contacted them
because they are not looking at that present moment, do you
think you could leapfrog your competition if you were to call
on them first, and get them to discover that they need your
offering?
So what works, and what does not work?
The Kenan-Flagler Business School of the University of North
Carolina interviewed senior business executives to understand
the circumstances under which they would accept a telephone
call from a salesperson. The findings were as follows:
| |
Always |
Usually |
Occassionally |
Never |
| A recommendation from someone
inside the company |
16%
|
68%
|
16%
|
0%
|
| A referral from outside the
company |
8%
|
36%
|
44%
|
12%
|
| A letter(s) from a salesperson
followed by a direct call |
4%
|
25%
|
40%
|
31%
|
| A contact at an off-site
meeting |
3%
|
16%
|
28%
|
53%
|
| A direct telephone call from
a salesperson |
0%
|
8%
|
19%
|
73%
|
Continued on Page
2
|