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Video: Appointment Setting - Prospect List

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Transcript of "Appointment Setting - Prospect List"

Hi, Kelly Smith again and at SalesDouble.com, we work hard to be your sales double and do all the tedious mundane work, like list database creation and management, making the outbound sales calls to get you appointments, and handle all your marketing needs so we can both create immediate leads who want to talk now and also nurture the future prospects who aren’t ready yet and we nurture them forever until they are ready to talk to you…you just quote and close and we do all the rest and I was just talking about the flawed concept of going for in person appointments only and that there are four specific steps to really take marketing from a dismal 2 to 1 return at best to a 5 to 1, 10 to 1 or more return on investment.

I want to get in depth on this so we’ll break the four steps down into four videos and this is about step number one which centers around the first of four P’s…the word Prospects. The first thing needed to begin your marketing program is the right target group of prospects. We have insurance clients who send us their own lists that actually have other competitive insurance agents on them and elementary schools and things that are a total waste to call. This is a numbers game and we use the numbers to your advantage to achieve the highest return on investment possible.

If your target list of prospects is 2000 names total you can expect the first pass of calling through that list to wean out approximately 10% as bad numbers and since we handle all that data base management and clean up then the next pass through that list is more efficient as we’ve removed those bad names. But imagine a list that does not take in to account other important variables of revenue range, geography, employee count, SIC code, or even important finite details like credit rating or male vs female ownership. If 50% of your list is the wrong target then you’re of course throwing away 50% of every marketing dollar.

Let’s start with revenue ranges, now if you’re a client of ours then the list is included in your program but if you’re doing this on your own and purchasing a list from ZapData or InfoUSA which is SalesGenie then please understand that the current revenue ranges are not accurate for todays economy. You’ll see the list providers claim to be calling businesses annually to update data but ask around and try to find anyone who’s been audited by these list providers…our company has been called once in ten years and only asked if so and so was still the owner and that was it then they hung up. So a company listed as having 1 million in revenues a few years ago may be doing only 500 k today if they’re still in business so rule number one is bump your revenues up a full bracket.

Now let's take a look at geography. Guaranteed you have a competitor who is mailing to the same list or even telemarketing and over 90% of the time people pick specific zip codes or even a county as their geographic selection to call. Well rule number 2 is to forget what the list providers are trying to pigeon hole you in to and rather than choosing their blanket general options, look at your specific geography as if you were going to personally walk and canvas your area. You surely would avoid less affluent areas and focus on areas of heavy concentration of what your ideal target would be. If you pick Jackson county because that’s the blanket option, and just 1 mile outside of Jackson county is a concentration of your perfect prospects, then that needs added and placed tops on your list. So you can pull names using a radius of your office, plus zip codes, plus even drawing a square box around a certain area of town. Remember it’s a numbers game and you need all the numbers to be in your favor.

Now what about employee count. Is it important. The answer is yes as too many times we see people select revenues that do not match the employee count and therefore they lose what may be hot prospects. Let me give you an example. We often have business brokers who put a minimum revenue of 1 million dollars for the businesses sales but then turn around and place a minimum employee count of 5 so they weed out the small mom and pops. The problem here is that while a retail store may have 5 employees to hit the revenue of 1 million dollars, a wholesale distributor can hit that with just 1 employee. Both are good candidates for the business broker to sell yet using the set criteria of 1 million plus and 5 employees minimum the wholesale distributor would not have made the list and a possible great sale is lost. If you’re our client we handle that for you however if you’re doing this on your own then rule number 3 is match the revenues to the employee count for the industry you’re calling.

Speaking of the industry to call its humorous that the list providers still generate list based on SIC codes or Standard Industrial Classifications while the rest of the world focuses on the government’s NAICS codes or North American Industry Classification System numbers. Well if you’re buying from the main list providers then you’ll be pulling from SIC codes probably and they at least make it easy by allowing you to do keyword searches. But possibly the single most important element is rule number 4, call the right types of companies. Now this seems easy on the surface but remember here we’re playing the numbers and more specifically the number of contacts you’re able to make with the decision makers. So you say I can sell my product to most anyone which gives you a broad target list…that’s the worst thing you can do.

Specific niche marketing still rules today and nothing beats it. These are generalities however I’ll use them to make my point and I mean no offense to anyone. When we call the construction trade, they are easy to get through to the decision maker however not very accountable when it comes to follow up as in being at the appointment. Last minute emergencies take them away at a moment’s notice and lack of let’s say top notch time system management only exasperate the problem. Restaurants may be your cup of tea but difficult to find the decision maker, get them to the phone, and you’ll probably be waiting forever at the actual appointment only to have a half dozen interruptions. Doctors and attorneys are great as they still have money even in this crazy economy however again you have a very difficult time getting past the gatekeepers and through to the decision makers. It doesn’t mean you omit these from your target list but it does mean you factor them into the overall percentages and make sure you are putting the numbers in your favor.

So our first P Prospects includes creating a perfect target list and then maintaining that database continually so it’s as clean as possible and that puts the numbers in your favor. On the next video we’ll cover our next P which includes specific verbiage and techniques that penetrate right into the brain of your prospects. See you on the next video.

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