What is the Sales Prospecting Cycle?

The sales prospecting cycle is an essential framework for any growing business. When used successfully, a prospecting cycle helps your reps consistently connect with qualified leads, and bring potential customers into the fold while expanding brand awareness.

Most businesses think of prospecting as tedious work, making hundreds of calls for a few qualified leads. But there’s a lot more to prospecting than making cold calls and sending emails. Here’s our guide on how to develop your sales prospecting cycle to maximize your success.

#1 Research Your Leads

Before you make any contact, take time to research your leads. This will help you get to know their business model, familiarize yourself with their industry, and potentially identify future pain points. Researching leads may look different depending on their industry, but includes strategies such as:

  • Reading the mission statement on their website.
  • Reading blog articles.
  • Watching webinars they’ve hosted online.

The more you learn about your prospect, the easier it is to tailor your initial sales pitch to include relevant information about their industry.

#2 Connect on Social Media

Thanks to social media, cold calls don’t need to feel like a shot in the dark. Connecting with your prospect on social channels like LinkedIn, Facebook, and Instagram allows you to establish a casual connection with your prospect before you engage them as a potential lead.

Social media is an excellent means to gauge interest and familiarize yourself with a prospect’s professional sphere. Join mutual business groups on LinkedIn or Facebook to connect with your prospect beyond a transactional level. This way, you can “warm up” your cold call or cold email by sending them a message, or commenting on a post.

#3 Utilize Multiple Channels to Connect

Don’t rely on one means of communication as the be-all and end-all. Some professionals prefer to communicate online via email or message, while others might prefer old-fashioned phone calls. Introduce a multi-channel approach initially, until you have a clearer sense of your prospect’s preferred communication platform. For example, if you start with an email, follow up with a phone call and vice versa. Remember, diligence is often required to gain a prospect’s interest.

#4 Adopt Value-Based Sales Prospecting Cycle Selling Techniques

Nowadays, prospects are looking for products that genuinely add value to their lives. This is why successful sales pitches are straying away from the traditional “best deal for the best price” model, and instead are focusing more on problem solving and client satisfaction.

Approach your initial conversation with ample curiosity and let your prospect do a lot of the talking. Get to know their individual needs and determine how your product might be a useful solution for their challenges. Ask plenty of follow-up questions like:

  • Where would you like your business to be in 5 years?
  • What are you looking for in a solution for future challenges?
  • How have you dealt with past challenges?
  • What aspects of your business do you want to prioritize?

The goal is to illustrate how your product may be able to offer unique solutions that align with a prospect’s values and goals. Demonstrate that you’re invested in their future success but don’t go overboard with the sales pitch. Approach the meeting with the mindset that you are there to help them, not the other way around.

#5 Follow Up

Most new prospects don’t convert in one day. After you’ve had your initial phone call or meeting, don’t forget to follow up! Establish consistent contact that provides value and information for your prospect. Don’t worry if you need to follow up several times before getting a response, but don’t badger your prospect. You don’t want them to feel rushed or uncomfortable, so it’s important to respect their decision-making timeline.

Fine Tuning the Sales Prospecting Cycle with Acquirent

Hoping to tune-up your prospecting cycle? At Acquirent we work with companies nationwide to facilitate a cohesive and productive sales team. Our team is ready to tackle prospecting, recruitment, and sales training, all while maintaining a positive and collaborative environment. Acquirent’s goal is to help your company succeed by providing you with the best business tools for the job. Need extra help? Acquirent offers completely outsourced prospecting resources, so you can spend time developing other aspects of your business.

Contact us today to get your free quote.