Prospecting for Gold Customers

by RJ on June 15, 2012

Prospecting For Gold (Customers)

Are you waiting for prospects to find you?


Have you really made an effort to cold call everyday?


Do you know how to plat the numbers game?


The numbers game is not something that you will find inLas Vegas,Atlantic CityorMonte Carlo. In this game the odds are in your favor, every time, guaranteed. I am talking about the number of prospects that you call on everyday. The more prospects that you call on will increase the number of wins.


Meyer Lansky once said “there are two kinds of gamblers, winners and losers. The losers play the game and the winners own the game.” I want you to own the game.


What is your hit ratio, 1 out of 10, 50 or 100? Most salespeople don’t know because they do not take the time to determine how many calls they make before they actually get someone that is interested and how many do they close. Maybe they are afraid to find out.


Bernie, a very successful real estate agent inSouthern California, said his hit ratio was 1 out of 25 for a particular housing project that he was working at the time. He said that 1 out of 25 people that showed an interest in the project bought a house. One week he said that the next person in the door is going to buy a house. He said that he already showed the property to 24 people that week who didn’t buy. Bernie was sure because he knew his hit ratio. He had already seen 24 people that did not buy and within the next few prospects the next one would buy. Don’t ever give up. The next buyer is just one phone call away when you know your hit ratio.


If everyone in the world is a prospect for your product or service then call on everyone or do some sort of mass mailing or advertising. If everyone is not your prospect then find out who are your prospects, narrow the list down, and call on as many as you can every day. Today the computer and search engines can narrow your list down in minutes. You can research without leaving your office or home office. I was watching a video yesterday about Brendon Burchard, who started his multi million dollar business from his girlfriend’s bedroom on a three legged table borrowed from his Mother. Today there are no excuses not to do your research.


Perfect your presentation because you only have a few minutes to get the callers attention and schedule an appointment or get the prospect to listen to your pitch. Have a few sample start up lines or scripts, as they are called, ready and be prepared to speak to different levels of management including administrators. Have a notebook in front of you with product brochures and possible answers to frequently asked questions. If you get a question that you cannot answer tell the prospect that this is the first time you have been asked this question and you will get back to him very shortly. Find the answers quickly and add it to your frequently asked questions. I personally love trade shows. It gives me an opportunity to hear hundreds of questions and how they are answered either by me or colleagues. In just a few short days you have the opportunity to get a great education. You can also visit competitors and see how they handle questions and present their products. No one said cold calling is easy but it is a numbers game and the more calls you make the more successful you will be become. Learn to enjoy making cold calls. Your future depends on them.


On my next blog I’ll tell you a true story of how one salesman making cold calls in theEmpireStateBuildinginNew York City, used some extraordinary tactics to make a sale.

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