How to Prospect for Sales: A 2020 Guide

Even under the best of circumstances, increasing sales revenue and growing your customer base is a priority. Due to today’s volatile economic environment at both the macro and micro levels, however, it’s more critical than ever before.

That’s why you must implement an effective sales prospecting plan not just for your small business to thrive but to survive.

Here’s how you create an effective sales prospecting plan:

  1. Qualify your leads
  2. Identify the decision-maker
  3. Set up a meeting
  4. Listen to your prospect
  5. Close the sale

Overview: What is prospecting?

Sales prospecting is the initial step of the sales process: identifying potential customers, that is, from your prospect pool. The goal is to build a database of probable customers and then communicate with them to convert them into current customers.

Sales prospecting is applicable primarily to business-to-business (B2B) sales as opposed to business-to-consumer (B2C) sales.

That’s because the sales cycle of one business selling to another is typically longer, involves more than one person in the decision-making process, and creates an ongoing business relationship following the sale.

Lead vs. prospect: what’s the difference?

A key distinction to keep in mind is the difference between a lead vs. a prospect. A lead is a potential customer who has demonstrated interest in your products or services. This interest can be demonstrated through a business card collected at a trade show, a query submitted online, or even signing up for an e-book…

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