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Courtside with Community ft. Tibor Shanto | March 16 | How to become a pro at sales prospecting

Courtside with Community ft. Tibor Shanto | March 16 | How to become a pro at sales prospecting
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rashmi.nag
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What a blast! It’s been an engaging hour filled with a lot of learnings and takeaways! 

A huge thank you to everyone who contributed their insights, questions and experiences - it will definitely be a useful resource to many! 

Finally, thank you Tibor for taking the time to share your expertise on the subject and the many useful tips and tricks. 

We’ll see you next time!

Loved all the insights from today’s session!! Looking forward to more of these.

Cheers, Rashmi || Team Freshworks
rhea.desouza
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Espresso shot ready or not, here we go! 

It’s time for the #CommunityChat - how to become a pro at sales prospecting! 

Let me introduce the host for the hour, @Tibor Shanto, a sales leader for over 25 years. Among many accolades, he is a sales hall of fame inductee 2021, author and consultant. He says it best “Sales is about execution - everything else is just talk!”

Hello and

 

Cheers | Team Freshworks Community
Tibor
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@Manasa Kumar less demographics, and more experience in the act of making a decision.  If they have made decisions of this scale in the past, I go one way.  If they need to be “educated”, I go another way.  I then want to understand their future plan, the clearer those are, the more specific I can be in my discussions with them.

rhea.desouza
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We might have identified our prospects, but now it’s time to qualify them. Moving on to the next question in today’s conversation.

Q2: Is there a way to qualify your list of prospects, prioritizing those that are close to becoming sales opportunities? If yes, how do you do it?

To answer this question, start your answer with A2 or click ‘quote’.

Cheers | Team Freshworks Community
Tibor
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@Sonali18 I don’t worry much about industry, to me the way copier companies sell is almost the same as wireless companies.  As an example, I look for companies in industries that are not growing, but the company wants to grow revenue.  Their best shot is to win competitive business, but they do not want to discount, so how do they grow?  If you think of transport, telephone, cloud, all have this same attributes.  Then as I said in another comment, test their ability to make decisions.

rashmi.nag
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My question is - How much communication is too much when initiating conversations with a prospect? There is a fine line between over-communicating and not at all. What is a good balance to have? 

I believe there is definitely a fine line between professional persistance and annoyance, as I learnt this from someone. So I think the best communication is when you truly listen to understand and not listen to respond. Also while prospecting , whatever metrics we follow, we should always make sure that the prospect talks more and we listen, and then communicate. It should definitely follow a 70- 30% 

@Rituparna - The 70-30 rule is definitely a good point! Listening is key and knowing when to identify potential questions/ challenges etc. that can be addressed is again something that comes with practice.

Cheers, Rashmi || Team Freshworks
Manasa Kumar
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We might have identified our prospects, but now it’s time to qualify them. Moving on to the next question in today’s conversation.

Q2: Is there a way to qualify your list of prospects, prioritizing those that are close to becoming sales opportunities? If yes, how do you do it?

To answer this question, start your answer with A2 or click ‘quote’.

Qualifying need not necessarily be like catching fish in a pond. You can get lucky every time, if you look for the right signals. 

  1. Engagement level with your business - Are they interested in your offering? Are they coming back for more information? Do they believe your product will solve for their problems?Engagement levels are easily available in a CRM. Scores are automatically assigned to leads based on their engagement with my business. 
  2. Are they similar to your existing customers - If they fit your ideal client profile, then they most likely will be interested in your product. How will you know this information?  - Ask qualifying questions such as:
  • What is their current budget? 
  • Who are the gatekeepers? 
  • What challenges do they face?
  • When do they need it?

 

 

S
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We might have identified our prospects, but now it’s time to qualify them. Moving on to the next question in today’s conversation.

Q2: Is there a way to qualify your list of prospects, prioritizing those that are close to becoming sales opportunities? If yes, how do you do it?

To answer this question, start your answer with A2 or click ‘quote’.

Qualifying need not necessarily be like catching fish in a pond. You can get lucky every time, if you look for the right signals. 

  1. Engagement level with your business - Are they interested in your offering? Are they coming back for more information? Do they believe your product will solve for their problems?Engagement levels are easily available in a CRM. Scores are automatically assigned to leads based on their engagement with my business. 
  2. Are they similar to your existing customers - If they fit your ideal client profile, then they most likely will be interested in your product. How will you know this information?  - Ask qualifying questions such as:
  • What is their current budget? 
  • Who are the gatekeepers? 
  • What challenges do they face?
  • When do they need it?

 

 

Well said, Manasa. Thanks for this 

Manasa Kumar
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It’s time for the last question - question no. 4!

Q4: Metrics are key to success. But what metrics must be captured while handling prospects and how often?

To answer this question, start your answer with A4, signifying the answer for Q4.

Some metrics I like to track include: 

  1. Email metrics - email opens, clicks and replies 
  2. Social media engagement 
  3. Sales activity metrics - downloads, demo requests, calls, meetings 
R
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Where do we get the link ? Would it be here posted ?

 

alyssia.correa
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Really looking forward to the session! There’s going to be lots of nuggets to take away 🙂!

Ally, Freshworks Community Manager
rhea.desouza
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Let’s kick things off with the first question of the hour - 

Q1: What qualification frameworks do you use to identify prospects?

To answer a question, tag the answer with the corresponding number. For example, if you are answering this question Q1, start your answer with A1.

Cheers | Team Freshworks Community
J
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Looking forward to learning from you, @Tibor 

My question for you and other participants as well: How can one decide whether a lead is a quality prospect or not? Any tips?

alyssia.correa
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Hello everyone, looking ahead to a fun session.

 

Hello @Tibor ! Looking forward to the session today and a warm welcome to the Refresh Community 🙂!!

Ally, Freshworks Community Manager
alyssia.correa
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My question is - How much communication is too much when initiating conversations with a prospect? There is a fine line between over-communicating and being pushy. How do you keep that balance?

Ally, Freshworks Community Manager
alyssia.correa
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How can one decide whether a lead is a quality prospect or not? Any tips? - I believe you have to be prepared to disqualify leads.  Use the filter of successful deals.  If there are common elements that are present in deals you win, then test for them early.  If the elements are not there, move on, if there is something to work with then develop the opportunity.

 

That’s interesting to note. I would have never thought of disqualifying leads in the first level of filtering out. Most often we look at every lead as an opportunity and try to make something of it. Quality > Quantity seems imperative here. Spend more time on leads you know could generate value based on common elements!

Ally, Freshworks Community Manager
S
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Q2 - Is there a way to qualify your list of prospects, prioritizing those that are close to becoming sales opportunities? If yes, how do you do it? 

You need to map out the buying cycle, from completely not in the market Status Quo, to those ready to buy.  You’ll find three segments, and each one has to be addressed differently.  Think of it as having the ability to speak multiple languages.  

 

I then test “which language they speak”, and prioritize accordingly.  The key is to remember that if you are talking to someone a year away from buying, they are likely not interested in product info, they are looking for insights in context of where they are vis-a-vis their decision.

If their ‘language’ coneys their high sense of urgency = higher up your prospects priority list 💯

Tibor
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@alyssia.correa I think you can be more aggressive than your gut tells you.  Ask yourself, who call you Monday morning, if you can’t remember, then how do expect the prospect to remember.

 

I find you can be persistent, as long as you bringing value.  Think about a successful outcome you delivered and see if you can make a story from it.  Once you do, then tell your story in small pieces; no product, just the next chapter of the story of success.

alyssia.correa
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My question is - How much communication is too much when initiating conversations with a prospect? There is a fine line between over-communicating and being pushy. How do you keep that balance?

I look out for some signals from the lead. And trusting my gut. For instance, the lead may have downloaded an ebook I have shared, and opened an SMS. These signals can be tracked with a CRM quite easily. But if they continue to ghost me in spite of multiple follow-ups, then they are probably not the right target audience. 

 That makes sense @Manasa Kumar ! Thank you for sharing. I’m my experience I believe it also boils down to timing with certain leads. Its potentially important to understand when to let go and revisit as well. 

Ally, Freshworks Community Manager
alyssia.correa
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My question is - How much communication is too much when initiating conversations with a prospect? There is a fine line between over-communicating and not at all. What is a good balance to have? 

I believe there is definitely a fine line between professional persistance and annoyance, as I learnt this from someone. So I think the best communication is when you truly listen to understand and not listen to respond. Also while prospecting , whatever metrics we follow, we should always make sure that the prospect talks more and we listen, and then communicate. It should definitely follow a 70- 30% 

@Rituparna I love the 70-30% example! And I couldn’t agree more - always listen more than just communicating! Thanks for sharing.

Ally, Freshworks Community Manager
alyssia.correa
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Question from me: Is it okay to revisit disqualified leads or to continue nurturing them? If yes, what are some steps to do it?

Hi @rashmi.nag - Absolutely! In one of my previous comments I mentioned timing - sometimes timings is a key factor as to why a lead cannot proceed - sometimes it could be that their business requirements are not aligned, they have a lock-in period with another vendor- what I have done is to keep a mark on certain important leads and keep in touch from time to time, even if just generally! Some where through the process, an opportunity presents itself and you could have converted that lead into a customer!

Ally, Freshworks Community Manager
S
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@Srilakshmi I don’t think you should look at things that way.  I think you need to continue to communicate with all.  The folks you describe are what I call Passively Looking.  This is a great opportunity to influence their thinking.  You need to leave your product in the car, and lead with your subject expertise.

Thank you so much for answering :)

 

S
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We’re mid-way through the session. 🎉 Your next question is here:

Q3: Prospects can be reached out to via email, social and cold calling. What form of communication works best for you? What are some tips to start a conversation with a prospect?

Begin your answer for this question with A3 or click on ‘quote’ below

I find the most effective way to start a conversation is by providing an example of an outcome.  They always told us not to look at the last page of a novel.  I am saying the prospecting call should start with the end of the book, if they like that the rest of the story is straight forward.  Foocus on the end, not the means.

How effective is social media when it comes to prospecting? Is it important to track social mentions of your business and engage with prospects there? Or is it best to use social media as a tool to see if prospects fit your ICP?

rhea.desouza
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It’s time for the last question - question no. 4!

Q4: Metrics are key to success. But what metrics must be captured while handling prospects and how often?

To answer this question, start your answer with A4, signifying the answer for Q4.

Cheers | Team Freshworks Community
rashmi.nag
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@Tibor - Thank you for your answers and explanations! A question for you based on your experience so far - what would you say have been your 3 key challenges in your sales career?

Cheers, Rashmi || Team Freshworks

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