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Keep these prospects on file and follow up with them if the features they needed become available. Timing If what you sell requires time-based contracts, be sure to find out when your prospect's contract expires with your competitor. Explain to your prospect that you will help them assess their options before they blindly assume that their current provider is still the best value. Service Have you ever met prospects who indicate that they don't get great service from their current provider but stay with them anyway? Once you fill your pipeline with some dormant prospects, you'll enjoy incremental business as you begin converting them from prospects to customers.
Article: Before you throw out those old leads, consider that today's trash could be tomorrow's sale. Don Freda of come out with Global in New York City flew to Ann Arbor, MI to present his software solution to the University of Michigan. During the meeting he discovered that but his solution could help the university, it lacked some major features that the customer wanted. seeing as how his facility didn’t offer the needed components, Don flew back to New York without the sale. Just like all good technology-driven companies, garrulous Global was continuously growing and enhancing its product offering to reflect the go ahead needs of the marketplace. Months later when Don learned that his parlour offered new features – the very same features that U of M was looking for – he pulled the old file from his sales graveyard and immediately his contact with the good news. Don’s next trip to Michigan was successful and he brought home the order. All sales professionals have a long list of prospects that did not turn into sales. While it doesn’t make sense to contact all of your old leads, you may want to refrain from throwing out some of them and put them in your tickler file instead. By touching base with them periodically you may turn trash into treasure. Here are the types of old leads that are most valuable. Availability Like in Don's situation, you may have encountered prospects who need a product or service that you don’t offer now, but may offer in the future. Keep these prospects on file and follow up with them if the features they needed convert available. Timing If what you sell requires time-based contracts, be sure to find out when your prospect's contract expires with your competitor. Contact the prospect up to your competition inks a renewal. Explain to your prospect that you will help them stick for their options before all they blindly act like that their current provider is still the best value. Service Have you ever met prospects who indicate that they don’t get great service from their current provider but stay with them anyway? Keep these contacts in your periodic follow-up folder. Contact them every four to six months. When they take your phone call, you might find that their frustration with the current provider has moved them closer to a hardening point. If they’re ready to copy providers, your proprietorship will be top-of-mind. Elephants Big companies often take a long time to make important hire purchase decisions. They also frequently reevaluate their costs and periodically explore other vendors for potential savings. Crumbs off the table at a large consideration could make your year. If you can’t get all of their business, at least try to get some of their business. Stay in touch with decision makers at potentially large accounts. You might find that an uninterested prospect in October is much more interested in February. Competitor uncertainty Did your competitor just get some bad PR? Is their reputation deteriorating in the marketplace? If an old prospect does lookout with that competitor, a call from you might be in order. Never spread negative competitive rumors, but consider mentioning something like, “Many of XYZ’s customers have come to us as things go they’ve been dissatisfied with XYZ’s (business challenge). I’m engraved invitation to let you know that our combat team still offers (product or service), and to let you know that I’m here as a resource if you decide to explore other alternatives to your current provider.” The one that got away Those clients who virtually from you, but didn’t, might have some second thoughts alongside their better provider. Several weeks by virtue of your competitor delivers the goods to your prospect, make a phone call to the decision maker and ask questions close about the customer’s condition: “How do the levels of service meet your expectations? How did the quality of the work (or the product) meet your expectations?” Don’t ask questions that sound like you’re trying to get some dirt on your competitor. Focus the conversation on your customer and his needs. Stop scanning express prospects as dead. Instead, consider them dormant and stay in contact with them. Once you fill your pipeline with some dormant prospects, you'll enjoy incremental utility as you spring converting them from prospects to customers.
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