Most salespeople have their “Top 10 Prospect List” - important companies in their territory that have the ability to generate significant sales dollars for the company, and significant commissions for the salesperson. These companies are usually difficult to get an audience with, especially if you have had little or no prior contact with them. After all, they probably don’t know who you are…you have no credibility with them. When you’re having difficulty getting an appointment, you’ll have a tendency to get frustrated and abandon them for greener pastures.
“Seven Touches”
Studies have been done which indicate that when trying to establish a business relationship from scratch,
most prospects need between 7 and 15 “touches”
(exposures to the company by phone, advertising, etc.) before enough credibility has been established so that the prospect is willing to meet with the salesperson. Further, studies show that
most salespeople give up after no more than 3 attempts
(touches). The area between the third and seventh attempts is called the
Lost Opportunity Zone.
So, when a key “suspect” in your territory gives you the cold shoulder, stop trying to “sell” them, and start “marketing” to them. They need to be removed from your “sales funnel” and moved to your “marketing funnel.” You need to develop that important credibility before they decide that you’re worthy of their time.
There’s a difference between selling and marketing.
- Selling is a short-term strategy designed to position you as the solution provider of choice for an opportunity that exists now.
- Marketing is a long-term process designed to build credibility and position the company as a potential vendor partner for future business opportunities.
Trying to sell when the prospect is perfectly satisfied with their current vendor relationship, when pain (or fear of future pain) is non-existent, is a weak business strategy that pays very poor dividends on your time and may alienate your prospect.
You should adopt a strategy of staying in touch
without
each contact being interpreted as an attempt to sell them something. Provide them something of value, use a mailing campaign, try to meet them at industry events, invite them to events you are sponsoring, etc.
Get creative, but don’t be a pest.
Self-Study Assignment:
What are some ways you can stay in touch with your key prospects without being considered a pest? See how many unique things you can come up with and create your own Seven Touch Marketing Campaign around your ideas.