TRex Used to Wander the Earth…and Sales Reps Used to Prospect!

TRex did not wait for the kill to come to them – They went out and found it!

The most important lesson learned in my 15 years of owning my own business? Prospecting is the lifeblood of revenue! That is why we work to help sales teams learn that being proactive in their territories will yield short term and long term benefits, predominately with increased revenue and profits! The short story? Continue to hunt…or die!

During my over 30 years as a sales person, VP of Sales, sales consultant and a recruiter I have had hundreds of conversations regarding the importance of proactively segmenting and reaching out to companies which have the profile that best fits the solution they are selling. Most reps, and companies, are focused on today, with no thought to what the future will bring. Even worse, many reps are “reactive” and only respond to prospects who call in. When a prospect calls you, they have already made the decision to buy and are now shopping price and rationalizing their decision. That is why you see the statistics illustrating that most of the sale is accomplished before the prospect calls you.

What’s the answer? Don’t wait for the phone to ring! Put together and pursue a proactive and well-orchestrated Territory Action Plan!

There continues to be pushback to prospecting for a myriad of reasons including “that’s marketing’s job”. In my experience, the marketing department creates the awareness and branding to in the marketplace. It is my responsibility to extend this awareness within my territory and I am ultimately responsible for making quota.

There is no doubt that fear of rejection deters most salespeople from looking for new clients. Yet, studies by market research companies reveal that 80% of non-routine sales occur only after at least five follow-ups.

Think about that. It takes at least five continuous sales efforts after the initial contact, before a customer says yes. Here are some fascinating statistics:

  • 44% of sales people give up after one “no”
  • 22% give up after two “nos”
  • 14% give up after three “nos”
  • 12% give up after four “nos”

This tells you that 92% of sales people give up after four “no’s”, and only 8% cent of sales people ask for the order a fifth time. When you consider that 80% of prospects say “no” four times before they say “yes”, the inference is that 8% of sales people are getting 80% of the sales.

Not one of the companies in your territory wake up in the morning thinking of you, your company or the solutions you sell! It is imperative that if you are to be successful, you put into place a “Territory Action Plan” to create opportunities that have substance. If you are unsure how to do this, contact us for a Territory Action Plan template and start your journey to higher revenues!

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