3 Simple Steps to Convert Your High-Value Sales Prospects

Is all sales follow-up the same?

Do we treat all sales prospects with identical strategies?

Organizations consistently preach the principles of 100% follow-up to their sales professionals. They monitor activities to ensure that the 100% mark is hit – that every single lead receives a series of touches.

I cannot argue with this strategy, but it is not the only strategy that matters. More important is the strategy behind converting “high-value targets,” those prospects that have the highest probability of purchasing sooner rather than later.

The key word in that last sentence was “strategy.” I’m not talking about systems, processes and tools. A great CRM can provide the format for effective and systematic following up with 100% of the prospects.

But top-performing salespeople individualize their strategy for high-value targets.

Let’s conduct a quick case study on two different prospects…

Prospect “A” is considering your product but is dealing with several issues. For one thing, she is not the primary decision-maker; the purchase decision will be made by a trio of principles.

Secondly, your product is outside of the stated budget range. Finally, there are questions about what the prospect really needs versus what they really want. The conversation ended in a vague, “I’ll get back to you. This is going to take a while.”

Prospect “B” feels an urgent need based on a glaring dissatisfaction with her current situation. She needs validation from others, but she is the primary decision maker. Your price is higher than what she was hoping for, but she admits you provide a greater value.

Still, the higher price causes her to say, “Let me sharpen my pencil – let’s talk in the next couple of days.”

I don’t need to tell you which prospect qualifies as a “high-value target.” The question at hand is whether the same follow-up plan will work for both individuals.

And the answer is a definitive “no”!

So, how does a sales professional create an individualized strategy that will convert high-value prospects? There are three steps involved.

Step #1

Begin with an honest assessment of where the prospect sits in the buying process today. What are the barriers? What issues require resolution? How much of the sales presentation has already been accomplished?

Step #2

Step two involves placing a time estimate on the conversion date. This is an educated guess that allows the sales professional to design a plan according to that timeline. Quick conversion estimates require a more intensive follow-up plan.

Step #3

Lay out the steps from point 1 to point 2. With a clear picture of where the prospect is today — and a sense of timing of when they will cross the finish line — the sales professional can now lay out the very specific points of contact in regards to both frequency and quality of interaction.

In our example above, Prospect “B” is clearly a high-value target. She has a glaring dissatisfaction in her current situation and she clearly understands your value proposition, even if she still needs to “sharpen the pencil.”

Step One? Check.

Based on her situation, we determine that there is nothing here that would make for a long buying cycle. We target a one-week conversion schedule.

Step Two? Check.

From there we lay out the plan.

Today: send over value-adding material and testimonials that will give her a greater comfort level with the price.

Tomorrow: Call her first thing and determine whether she has more questions. Close on a second appointment during that call.

Day Three: Another e-mail with appointment confirmation and a minor value-add. Day Five: Second appointment and closing attempt.

I am a true believer in relying upon an outstanding CRM platform and a well-defined follow-up procedure for 100% of your leads.

I also happen to believe strongly in an individualized strategy for the highest-value prospects.

Putting these two ideas together makes for a big boost in your productivity. Now go convert a high-value prospect!