5 Prospecting Myths Debunked

Prospecting isn’t fun, nor is rejection. Here, we debunk five common myths about executive prospecting and replace them with a prospecting action plan.

Don’t worry; when it comes to prospecting, you aren’t alone. Few people enjoy it. Many blame failure on these insurmountable barriers:

• I need the perfect grabber line.
• Marketing needs to deliver more qualified leads.
• I’m blocked by gatekeepers.
• I have no time.

Sound familiar? It’s time to try a new approach – one that may seem contrary to all you thought you new. Set aside your old beliefs and consider the action plan outlined below to make future prospecting successful. But first, let’s dismiss the 5 myths that keep us stuck.

Myth 1: Prospecting is a ‘hunting’ not a ‘farming’ activity. Incorporate prospecting into your routine so you continually have leads ripening and you’re never stuck with barren ground, which will force you to make cold calls.

Myth 2: Gatekeepers are enemies. Gatekeepers have key information that you need:- your target executive’s style, preferred means of communication, schedule and priorities. Befriend the gatekeeper and you’ll have a tour guide with direct access to and influence on your target.

Myth 3: Prospecting is selling. Prospecting and selling are distinctly different. Each requires its own strategy. Prospecting is trying to secure 20 to 30 minutes of quality time with a target executive. It’s about exploring problems, ideas and solutions worthy of the executive’s time. Selling is about closing the deal.

Myth 4: I need more leads. No you don’t! What you really want are more quality interactions with executives you’re targeting. Our below action plan will show you how to increase your executive interactions and deal volume at all stages of the sales cycle.

Myth 5: I need better tools, such as the perfect prospecting letter. What you really need is a well-orchestrated campaign. Most people don’t use the tools they have; needing more is an excuse. You need a systematic campaign you can conduct in a realistic amount of time..

So now that the 5 sales myths are debunked, it’s time for a fresh approach.

4 keys to your new prospecting action plan

1. Dedicate a time each week for prospecting; at least two hours
2. Identify key players
3. Aggregate touch points
4. Build familiarity and rapport

These all lead to your top-level goal: Securing a meaningful interaction with the target.

Also, utilize  these communication tools, as they are readily available to you:

• Administrative assistant
• Voice mail
• E-mail
• Social media tools such as LinkedIn
• Direct conversation
• Fax
• Mail/FedEx

Try to schedule two to four days between rounds with a specific prospect. (A round is a group of synchronized touches).

Follow these procedures every time:

• Start at the top (CEO, Managing Director)
• Separate prospecting from selling
• Ask for help (People like to help; be humble and request assistance)
• Leave a voice mail
• Gather touch points

Key point: No means no but no answer means “customer doesn’t know” or “you haven’t gotten the customer’s attention yet.”

Record every touch point, meaningful interaction and your results; it will help keep you on track. Experience shows that the probability of securing a meaningful interaction peaks at round three. Most give up after one round. Just remember, the contrarian approach to prospecting is to be persistent and to stay with it!

- Co-authored with Mike Scher
President, FRONTLINE Selling
an Executive Conversation partner