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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
rhea.desouza
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Calling all sales enthusiasts,

This one is for you! 

Welcome to another edition of the #CommunityChat, where we explore a relevant topic with specialists, and YOU.
 

Theme: How to become a pro at sales prospecting
 

In this session, we will be joined by @Tibor, a sales leader for over 25 years. Called a brilliant sales tactician, Tibor helps sales teams and organizations translate strategy to results through a focus on execution.  Tibor develops salespeople who understand that success in sales is about Execution – Everything Else Is Just Talk!  

 

Here’s a list of questions we will be tackling - 

  • What qualification frameworks do you use to identify prospects?
  • Is there a way to qualify your list of prospect, prioritizing those that are close to becoming sales opportunities? If yes, how do you do it?
  • 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?
  • Metrics are key to success. But what metrics must be captured while handling prospects and how often?
     

Come prepared with your insights, and any questions you’d like answered.
 

Let’s get talking on March 16, 9:30 AM PT.

Cheers | Team Freshworks Community

61 replies

Tibor
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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.

rhea.desouza
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Hello Community! We are back with another edition of the #CommunityChat - today we explore the world of sales prospecting. 

Say hello, ask a question, share your experiences - let’s get talking!

Less than an hour to go! 

Are you ready?

Here are a few things to know before we get started with the #CommunityChat: :coffee:

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

  2. If you cannot make it on time, feel free to share your expertise on a particular question at a more convenient time.

  3. You can like/ reply to each other's comments to keep the conversation going.

  4. Be mindful of your comments to others and remember to abide by the community guidelines.

  5. Our members and experts present today might be able to help you out with any challenge or query you might be facing.

  6. Have a great time!

Tagging a few folks to jump in and be a part of our first sales chat

@Manasa Kumar @rashmi.nag @nivedita @LukeH @alyssia.correa @Isaac Thomas @annapoorna.v @klewandowski@dwyermail.com  @LorneH @stevemc @invokker @cky @Alvin Ng 

Cheers | Team Freshworks Community
Tibor
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Hello everyone, looking ahead to a fun session.

 

Tibor
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Q1 - One of the easiest way to identify potential new prospects, it the notion of Lookalikes. See who is buying from you now and look for others similar to them.

Tibor
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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.

 

Manasa Kumar
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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. 

Manasa Kumar
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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 think LinkedIn helps reach decision makers in a professional setting. Instead of directly pitching, what’s worked is: 

  1. Following the decision-maker 
  2. Showing genuine interest in their industry and posts 
  3. Engaging and introducing yourself 
  4. Once they are familiar with you, you can draw attention to your offering and how it specifically helps them 
Tibor
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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 

A2 - I think the biggest factor is propensity to change.  I find the best way to deal with that is to get them to talk about a similar purchase they were involved recently.  You learn about how they evaluate things, and their willingness to change.  If they always go through the process and end up buying the same, they are stuck.  But if they describe how they are always looking for ways to improve, and describe how they are always will to beta things, then you have a better situation to work with.

A3 - I find that the four things above, budget, person, challenges, timing, are all things that can be addressed even when the may seem absent at the start.  Can they make a decision?  That’s key.  And it is rarely a power question, but an ability question.

nivedita
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My question to Tibor and community is: Some prospects who express interest say they’d think about my proposition and get back in a few days - but they don’t until I follow up a few times. What is the ideal number of times to follow up and in what cadence without coming off as annoying?

rhea.desouza
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Looking forward to the conversation like - 

 

Cheers | Team Freshworks Community
Manasa Kumar
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Look forward to an engaging session! :slight_smile:

Varunbk
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Hi Tibor! Thanks for the session. My question is, how effective do you think lead scoring with a CRM is? Have you used AI in prospecting, and if so, how? 

R
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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% 

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.

Interesting. What do you do to prospects who aren’t close to becoming sales opportunities but show strong potential of converting at a later point in time? Do you continue to simply nurture them or begin engaging with them when they are closer to buying?

rhea.desouza
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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% 

70 - 30% - great way to look at it :clap:

Cheers | Team Freshworks Community
Tibor
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@Jadespire45 I believe you need to review all your wins, losses, and no decisions.  You’ll begin to see commonalities.  We use a tool called 360 Degree Deal View.  Happy to make it available ding my email.

 

Once you see what people responded to in the past you can continue to fine tune the front end.

Tibor
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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.

Tibor
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@rashmi.nag revisiting disqualified prospects is a must.  They may have different projects on the go, could be a question of contracts, or many other things.  But always revisit these disqualified prospects.  

R
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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’.

A2 So these are the ways I know we can qualify prospects, 1. Organisation level Qualification- Which If your company has buyer personas, reference them when qualifying a prospect. Does the buyer match the demographics of a given persona. Which industry the prospect belongs to , whats the company size, does the account fit the requirements 

  1. Opportunity Level- Does the prospect know about our solution, is product aware or problem aware or solution aware atleast ? 
  2. Budget - This comes at a later stage maybe but to still have an idea would be great
  3. Authority/Stakeholder- Who would be the key decision maker , and how would they take it up ahead
  4. Timeline- What is the time frame they are looking to avail the solution
Tibor
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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.

Tibor
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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 

A2 - I think the biggest factor is propensity to change.  I find the best way to deal with that is to get them to talk about a similar purchase they were involved recently.  You learn about how they evaluate things, and their willingness to change.  If they always go through the process and end up buying the same, they are stuck.  But if they describe how they are always looking for ways to improve, and describe how they are always will to beta things, then you have a better situation to work with.

Tibor
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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.

A4 - Metrics are key. While there are many, I like leading indicators, I measure the following:

 

Contact to Appointment

First Meeting to Discovery

Discovery to Proposal

Proposal to Close

Average Deal Size

 

Each of these require a learnable and improvable skill that can be coached to.

Tibor
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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?

I think it is one tool when it comes to ICP.  I would leave monitoring mentions to others in the company.  But I do think social to understand and connect with a prospect is part of your tool kit.

Tibor
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My question to Tibor and community is: Some prospects who express interest say they’d think about my proposition and get back in a few days - but they don’t until I follow up a few times. What is the ideal number of times to follow up and in what cadence without coming off as annoying?

@nivedita Early in my sales career I was enticed in to a cult, the cult of Next Steps.  No encounter with a prospect should end without scheduling the next step.  When you present the proposal, and they ask for time, say “ok, how is Friday morning at 10:00 to review, answer questions and plan next steps.”  

 

I don’t think that there are too many follow ups, but I would think about your process if you are running into this regularly. There some specifics, if you want to reach out.

rhea.desouza
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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!

Cheers | Team Freshworks Community

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