Your Funnel Should Be A Horn Of Plenty3

By Tibor Shanto - tibor.shanto@sellbetter.ca

Harvest c

Most would agree that sales is not strictly a numbers game, but as with other issues such as closed ended questions, the pendulum at times seems to swing too far in one direction. While no one will argue that there needs to be a greater focus on quality than quantity, you also can’t get away from the fact that numbers play a great role in sales success. Just the plain simple fact that we are measured on our success with numbers, leads to the integral, if sometimes inconvenient fact that sales is a numbers driven sport.

I bring this up because of reaction to my piece the past Monday on how to deal with prospects who are reluctant to commit. At one point I mentioned that anything other than a firm yes is a NO, regardless of what it sounds like, and how much hope a statement may allude to. I went as far as to suggest that if you can’t get a next step you should walk away. Some questioned the soundness of that strategy, why would you walk away?

Well two things to consider, first, when I say walk away, it doesn’t mean that you can’t ever revisit that prospect in the future, whether that be three months, six, or a year, you can come back. But the reality is that if you don’t walk away and engage with a real buyer, you will miss your quarter, and may not have your job by the time this prospect is ready to go. With all the tools available from e-mail, e-mail marketing, social media, you can be present in the prospect’s world, without having to spend valuable time while they are coming around. Walking away is not forever, it for your sales success.

The other which goes straight to numbers, has to do with the quality and quantity in you funnel. If you needed 5 prospects to close a deal, and you had eight real ones in your funnel, if one went soft, you wouldn’t lose much sleep, after you’ve got the five, plus a couple for insurance. On the other hand, if you needed five prospects to close a deal, you had three real prospects in your funnel and one went soft, you have a problem. Leading to the obvious conclusion that quantity does give you options when facing a quality issue.

Most companies struggling with their sales are struggling more from a quantity of opportunities perspective to a much greater degree than quality. The issue is that prospects they have are good, they just don’t have enough of them. In that scenario the logical approach would be to go out and get a few more good prospects, the numbers side of the equation. But most sales people believe they can breathe life into a dead deal with more ease than going out and prospecting more good opportunities. I never understood why they prefer being rejected by a prospected they have invested time, money and emotion in, than being rejected on a prospecting call.

Starting from a position of plenty, meaning more prospects as measured in numbers, gives you options, allows you to execute on the best opportunity. Having a small number of “good” prospects, will give you some quality but in insufficient amounts to assure success.

What’s in Your Pipeline?
Tibor Shanto

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3 Comments

  1. Jason Adams

    Great post Tibor, I would add maybe when someone is not a firm yes, maybe looking at ways to nurture the relationship with some form of marketing automation. If the prospect is not a firm yes, there is probably some resistance in the way.

    • Tibor Shanto

      Jason,

      I agree, thanks for the feedback.

      Tibor

  2. Steve

    A great sales manager sets goals and priorities.
    Each day brings unlimited opportunities that must be addressed with limited resources. How, then, do you perform at your best today while you address the needs of tomorrow? Without clear goals, it is easy to get bogged down and lose sight of the larger picture. set your goals and convert your sales lead today http://salesassailant.com/

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