Top Tip #6: Define your ideal prospect

There is a common saying that you are a product of the five people you hang out with the most.

Even though this means I am…

One part hairy Irishman (don’t ask which part)

Only two parts female (again, don’t ask which parts)

One part Alexa

And one part Labrador

I am still a strong believer in this idea.

The people you hang out with influence your values, thoughts, actions, habits and ultimately… how much you ace-it in life.

If you want to be a brilliant person/musician/stockbroker, don't hang out with crap people/musicians/stockbrokers. Hang out with brilliant ones.

A similar thing exists in sales.

Your success is a product of the PROSPECTS you hang out with.

Call upon low-level prospects and don't be surprised if you achieve low-level results.

Call upon high-level prospects and… hello the high-life.

Now you may want to sit down because I am about to blow your mind with the next sentence:

Better prospects = better sales results.

Do you know this? Yes.

Do you live by it? Hmmm.

Don't worry.

Most salespeople can't tell me what their ideal prospect looks like.

They work hard chasing low value prospects who keep them busy but give them little in return for all their time spent.

However…

Not knowing your ideal prospect is like looking for a needle in a haystack, without knowing what a needle looks like.

i.e. a waste of your freaking time.

Top performers have a clear understanding of their ideal client.

  • They know exactly who they want to work with and go out and get it.
  • They share their ideal client with others so they receive great referrals.
  • They handpick their prospects and only commit time to working with them if they know the return on investment is there.

In this blog we help you define your ideal prospect so you can focus your prospecting strategy to achieve great sales results. 

To download the strategy worksheets that accompany this blog click here

  Company expenses were mounting as Tom defined his ideal prospects as those who commuted by helicopter

Company expenses were mounting as Tom defined his ideal prospects as those who commuted by helicopter

How can I define my ideal prospect?

Your ideal prospect is one that takes you closer to your sales goal in the easiest possible fashion. They are highly profitable, buy premium solutions and grow year on year.

In order to work out your ideal prospect, follow these two steps:

1. Set your ideal prospect spend

Your ideal prospect spend is based on your sales goal and your average close rate. It helps you work out the minimum that each prospective opportunity in your pipeline should be worth to give you the best chance of hitting your goal. To set your ideal prospect spend follow these steps:

 

A. Work out your monthly (4-week) sales goal

Work out how much money you have to bring in every month to hit your goal. (e.g. £11,272)

(for help, read this blog: pimp up and break down your goal, or download the step-by-step strategy worksheets here)

 

B. Divide this by your average close rate/ month

Estimate how many closes you make on average every month. (e.g. 3)

Divide your monthly sales goal by this figure. (e.g. £11,272 / 3 = £3757)

 

This (£3757) is your ideal prospect spend: the minimum each prospect in your pipeline must be worth in order for you to achieve your sales goal.

So, once you know your ideal prospect spend, make sure you ONLY have prospects with this value or higher moving through your pipeline.

 

2. Define your ideal prospect 

Once you have the ideal spend, define the other features of your ideal prospect:

  • Authority: Which job roles have the authority to say yes?
  • Location: Where can you find the closest, most lucrative opportunities
  • Prestige: Which prospects would give prestigious testimonials?
  • Security: Which prospects tend to buy long term, high value solutions?
  • Money: Which prospects can afford your ideal spend?
  • Need: What are the common needs of your biggest prospects?

If you're feeling artistic you can finish by drawing your ideal customer and giving them a name that defines them.

For example, my ideal prospect is "Ross", the Sales Director of a large UK based field sales team. Ross's team are fun, work hard and sell a modern, high value product or service. Their offices are trendy, Shoreditch-esque style beauties with music playing, good vibes and almost always a ping pong table or two. Ross has been a Top Performer in sales and now, as Sales Director, is looking for strategies to help his team learn and embed great sales habits, find confidence and motivation through sales slumps and ultimately achieve great sales results.

The key point here is that yes, I DO work with other people, telesales teams and smaller businesses in all sorts of industries BUT knowing my ideal prospect allows me to focus my prospecting and sales message so I am more likely to 1) speak to the right people and 2) Find bigger, more exciting opportunities.

 

In summary

In summary, if you want to become a brilliant salesperson, you have to be surrounded by brilliant prospects. Look at your last 5 closes. These are the prospects that are defining your success. Do they tick the boxes above?

Or is it time to start prospecting for bigger, more lucrative opportunities?


How can I coach my team to define their ideal prospect?

Got a sales team? Want some ready made training material to use in your next team meeting?

1. Download the strategy pack. 

2. Print off the relevant ready made worksheets to use in your next team meeting.

3. Follow the examples and coach your team to create their ideal prospect.


Top Performer Journal_Strategy.jpg

Like this blog? You'll love our sales strategy pack!

5 Top Performer Tips for a Focused Sales Strategy

  •  Gain control of your success by breaking down your goal
  •  Strengthen your networks through developing an 'A-list' of ideal prospects
  •  Improve your sales pipeline by prospecting like a pro

Download for free 5 Top Tips for a Focused Sales Strategy

Or order your very own Top Performer Journal today.


Blog written by Jen Wagstaff, CreativeMind Sales Training

"A curious yet delightful mix of human, artificial intelligence and excited puppy"