Have you found it difficult to truly clarify your prime prospect’s profile (or as the industry calls it your target market) and identify who you want to serve? As I talk with business owners and service professionals it’s obvious there is a lot of frustration around this topic. Perhaps you can relate.
It’s easy to provide a “category” of people, “ie accountants, retail store owners or start-up companies”, but the real value is found when you go deeper. This allows you to immediately recognize quality prospects when you are networking and identify quality referral opportunities.
When you are really clear about who you want to sell to, selling will become easier and the deals you close will be more profitable! It also helps you craft the perfect value proposition that will actually resonate with prospects! Let’s walk through this process together.
If you need help crafting your prime prospect description, please connect with me directly and we can book a strategy session.
The first step in my Streamline and Supercharge Your Sales Sequence consulting program is to analyze what’s happening in a prospect’s life before they hear about you or realize they need you. I call this step “Life Before You”. This allows you to dive deep and create a very specific picture of the motivations, wishes and challenges that are facing a prospective client. Then you can identify prospects in an instant and tilt conversations in a direction that will uncover if they qualify for your services.
You may have different prime prospects for each product or service you provide, as I do. For a long time, I tried to bucket them all into one ‘prime prospect category’ which was “service provider”.
As my business evolved, this broad category no longer worked. How broad is your current prime prospect category description? There are thousands of “service providers” to sell to so without clarifying context it will be harder (okay impossible) to consistently reach the right ones who are a perfect fit for you.
For some products or services you might have a broader prime prospect description than you do for more in-depth products. You may know me as a speaker from an event – that’s where I’ve met many of the Elevate Biz community members for the first time! (BTW thanks again for being one of them. I am honored to be in your inbox – if you aren’t already on the list, check this out). You may not realize I actually have four key product offerings or delivery methods.
- speeches at conferences
- self-guided online training programs
- internal business/corporate training and
- in-depth business growth consulting.
Now it’s your turn, list your product offerings based on delivery methods. This will make the next step easier.
My speeches represent the broadest prime prospect profile for Elevate Biz. One reason for that is because I spend the least amount of time with this service offering and it applies to many. As we move through the offerings, my prime prospect description gets deeper.
For example, my prime prospect for speeches is
“An association or conference that represents an industry of welcoming professionals or business owners who require relationships to drive bottom line success.”
Wow – broad, but it works. It is also specific enough that I know when I need to say no to a speaking engagement.
Contrast this with my prime prospect profile for my business growth consulting which includes…
A business with revenues between $100,000 and $10M, sometimes more (broad still, but enough to give me direction) that wants to double, but doesn’t have the sales processes and marketing messages in place to succeed. The decision maker has to be an active participant and committed to the process and the team has to have the authority to implement the plans.
They are frustrated because they have a good product or service, but don’t have as many clients as they should have. They often lose deals to competitors because they don’t have savvy sales skills to win the bid. Their marketing messaging is often done in-house or with freelancers and is too “features based” to drive sales and does not capture their true value and essence.
The head honcho is tired of spending money on consultants and really wants someone on the team who will dive in and guide them straight to the top.
The business does not sell widgets. Their product or service requires high trust and often means a long sales cycle and they want to shorten as best they can. They have a passion for what they do, but don’t love the art of selling. They are open to and motivated to be a positive member of the community. In addition to more streamlined sales, the goal is to go from being a secret in their marketplace to becoming influential and well-known. They want to be the first option on their prospects’ minds.
I could go on, but I’ll stop there. The point is, I’m so clear what makes my prospect tick that it’s easy for me to spot them when they are in front of me! Is your prospect that obvious to you?
How much more of a mental image does that description conjure compared to “service provider”?
Knowing all of that, when I am out networking or interacting with people I can have conversations that will uncover some of this information. For example, I may ask a business owner, “So what’s next on your list? Are you in hyper growth mode or just coasting for a bit?” If they are coasting, they aren’t a prospect. I can get a sense if someone matches many of these statements in casual conversation.
Another conversation directly that can help is when I tell someone I’m a business growth consultant. If they complain about the last consultant they hired it opens the door for a conversation that will reveal if they have not achieved some marketing and sales goals.
If I notice they are on the sidelines of an event or are mingling, but aren’t talking with the most influential people in the room or their ideal prospects, then I can make an assumption that some of my branding and networking training will help them.
Being this clear about what makes your prospects tick will allow you to know exactly how to approach a sales meeting and ask more relevant and revealing discovery questions.
Deducing if someone is a prospect through casual conversation, in sales meetings or when asking a client for a referral becomes much easier when you have an in-depth understanding of the motivations, wishes and challenges a prospect has before they even know you.
If you don’t have an absolutely clear prime prospect profile then we need to start right there! Once that’s clarified, then we can move into crafting your value proposition and how you will get more sales meetings with the perfect prospects!