[1 Simple Question] 3 Simple Responses

‘Why Should I spend time Prospecting’?

I love sales people, not because I am one, but just because most sales people that I come into contact with ask the truly tough questions and expect a straight answer, moreover an answer that is real!

Does this sound familiar?

On Friday during a customer meeting, one of the high producing reps asked a simple question – why should I spend so much time prospecting? In the same breathe he made the justifying statement, I am having a record year, and have a full plate in handling my existing customer base. The fact is that he is having a remarkable year.

My response was simple enough. The easy answer is you don’t have to. It really is a choice.

The room went stone silent.

I restated, you don’t have to prospect if you have solid answers to the following questions:

  1. Does any one customer represent more than 15% of your total sales? If so, you are out of balance.
  2. What is the annual attrition rate for your industry? (for many industries it is up to 20%)
    The fact is customers transition and many times it is beyond your control.
  3. Within your existing, or your companies pipeline, are there enough qualified prospects to absorb a significant loss to one of your key customers?

Healthy sales organizations are encouraged to have a solid balance of customer retention and prospecting for new business in order to secure their future.

What has been your experience in creating a balance?

To your success,
Andy

 

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