How to Identify the Ideal Prospect

By Ron LaVine, MBA and President of Accelerated Cold Call Training, Inc.
Cold Calling System for Sales Success – Live Cold Calling Training Workshops®

The ideal prospect will have the following four characteristics.

Confidence

People buy from people they know like and trust. Like means similar to them.

Does the prospect trust you?

Have you established both you and your organization’s credibility?

Does the prospect know the organization you represent?

Does the prospect believe you sincerely have their best interests at heart?

Do they have confidence in your organization s ability to provide them with and support your solution that works?

Authority

Authority is the ability to sign the check. Your time is valuable so why spend it in front of someone who lacks the authority or the funds to purchase what you are offering. The exception to this statement is if the contact can provide the information you require before speaking with the final authority.

Does the individual you are speaking with have the authority to buy?

Do you know how much authority your prospect has before further approvals are required?

Resources

It is important to define the resources or budget required to purchase your solution. This requires a commitment from the prospect to allocate enough time and staff to conduct an evaluation and make a recommendation to management.

Does the prospect have the time and staff necessary to conduct an evaluation?

Does the prospect have the time and staff necessary to prepare a cost justification?

Does the prospect have a budget available or access to discretionary funds?

Does the prospect have the right technical environment (hardware or technology)?

Serious Intention to Buy

When the prospect perceives an attainable solution to a current or future need, they have a serious intention to buy.

Is the prospect willing to act towards a solution?

Have evaluation criteria been defined? Is the prospect starting to look at competitors?

Has a specific person been assigned to find a solution to a specific need?

Does your prospect have a serious intention to buy?

How to Determine When it is Time to Move On

If someone says, no or we’re not interested , that may mean, We re not interested at this time. Before you move on, inquire as to when they may be looking for your type of solution in the future. Then place a note in your schedule to call back at least one month before that time.

If you cannot find all four items mentioned above in any department then it is time to move on. If you leave at least eight voice mails, emails, or faxes for the person who is responsible for acquiring your solution and you receive no response, then it is time to schedule long-term follow up (i.e. 3 months, 6 months or 1 year) or just plain move on.