Prospecting, let’s cut to the chase!
What is it, how do we use it, and how can it help you close more deals!
In short, a prospect is someone who you define as an ideal customer. This is someone who, if you had the choice, you’d like to do business with time and time again!
This doesn’t mean they are your highest paying clients or even your more demanding lower-paying clients! (I’m talking from experience here… it’s often the case that the lower the pay the more demanding they are!)
What we are looking for is the middle ground. That perfect client that brings in enough revenue on each deal and that is easy to service. I’m all for making my business life as simple as possible! Why bother overcomplicating things right?
So, let’s cut to the chase and show you how it’s done!
Here at TheHunterCo, we have done many prospecting profiles over the years and we have boiled it down to a few key elements!
But, just touching on this point… We have also seen some shocking attempts at prospecting profiles! And more often than not, companies are operating without even having this sort of thing in place. How on earth can you run a business without knowing who your customers are! Crazy right?
So, step one…
Your Niche!
What is a Niche? Actual definition: A specialised segment of the market for a particular kind of product or service.
For example, if you are a sports fan you may actively seek to buy products from the club you support! Take me for example… I am an avid Formula 1 fan and I often buy products relevant to the sport! (Shows model f1 car and champs picture)
So, takeaways from step one… Create a product or service that is relevant to the people you are selling to!
But how do we do that? More on this later!
Step two…
Your USP or Unique Selling Point!
Actual definition: A USP is a statement that outlines how your business, product, or service is different from that of your competition. It identifies what makes your business the better choice, and why your target prospects should choose you over the competition.
Now, following on from that, it’s important to understand what business is actually all about… Some people might disagree with this but at the heart of it, It’s a competition right? You and a bunch of other people who have had a similar idea have entered into a pool of providers and it’s your job to either get to the top of that pool or at very least capture a reasonable size of the marketplace!
So, how can you stand out?
Well, you have your niche that you’re going to target, now it’s time to explain why you are better than others in the said pool of providers!
Take TheHunterCo for example… Our tagline clearly speaks to the prospects in our niche and looks something like this.
TheHunterCo | A Business Growth Agency, Helping SME sales & marketing people hunt the RIGHT opportunities online.
The formula should look something like this,
Industry > Market Segment> Ideal Prospect > Reason/Pain Point
Step three…
Now, this is where it gets interesting! This is where you dial in the targeting. This is about being as specific as possible!
At TheHunterCo we split this into three sections…
Personal Demographic
This is about describing the individual.
So, for example, Gender, Location, Marital Status, Family Size, Race or Religion.
Next, we have…
Professional Demographic
This is about defining the job role of the individual and the type of company they work for.
For example, Job title, Industry, Company Size, Company Revenue & Company Goals.
Finally we have…
Professional Attributes
This is about understanding what the day to day life of the people you are trying to target looks like.
Example. Job Duties, Point Points, Barriers Of Entry. Reporting Hierarchy.
Now you have an understanding of your prospects, it’s time to understand how to actually reach them!
It’s all good and well knowing who you should sell to, but, it’s worthless without knowing where the buying activity is.
For example, TheHunterCo only sells to companies in the B2B (Business To Business) marketplace. So, it’s a good bet that our prospects and more than likely to congregate on platforms like LinkedIn & Twitter. Whereas more B2C (Business To Consumer) companies may opt for a platform that has more relevance. For instance, If you sell tangible consumer products you may want to use instagram or facebook as that is where the buyer’s attention is.
Going on from there you can look at things like networking groups either in person or on online! LinkedIn & Facebook both have great platforms for groups to be a part of. Also, you may want to look at things like relevant skills, hobbies & sports of these individuals as you can never underestimate bumping into a potential prospect in your day-to-day life… I have picked up many of clients at sporting events so just some food for thought.
And that’s it… simple right?
Yes this is only a brief blog and i’m sure I could sit and talk about understanding ideal prospects until the cows come in but I think this is a good place for you to get started!
If you have any questions, please drop a comment in the comments section here on youtube!
And if you need any more assistance in understanding your ideal customers, please reachout on here, our website, or on any other social media platform that you follow TheHunterCo.