This post contains cliff notes on Fanatical Prospecting and details key concepts.
Fanatical prospecting is a useful book for salespeople who need to hunt for new business. It provides a useful framework to implement for any SDR or AE who wants to add some structure and strategy to their outbound game.
Opportunities are key to good sales numbers and you only get there through prospecting
In sales, business, and life you can control 3 things
- Your actions
- Your reactions
- Your mindset
You need to have the right mindset to succeed and always prospecting means you need to want to win
It’s not about if it’s a cold, warm, or hot call. It’s about the willingness of the part of the rep to interrupt
Inbound works but misses a lot of the market.
Ignore the what-ifs of the call and make it.
You must interrupt the prospect’s day to make sales.
Adopt a balanced prospecting methodology! Like a diversified stock portfolio.
Prospecting needs a mix of telephone, in-person, email, social selling, texting, referrals, networking, inbound leads, trade shows and cold calling. What you invest in depends on your unique situation.
The more you prospect, the luckier you get!
Fanatical Prospecting Cliff Notes: Three Laws of Prospecting according to
- The universal law of need
- The 30-day rule
- The law of replacement
The universal law of need states that the more you need something, the less likely that it is that you will get it. This law comes into play in sales when a lack of activity has left your pipeline depleted.
The 30-day rule states that prospecting you do in this 30 day period will pay off for the next 90 days. 30-day rule may be one week rule in shorter sales. The implication is that if you miss a day of prospecting it will bite you sometime in the next 90 days. Miss a week and your commission will take a hit. Miss a month and your pipeline is toast.
The law of replacement teaches is that you must constantly be pushing new opportunities into your pipeline so that your naturally replacing opportunities that will fall out. And you must do so at a rate that matches or exceeds your closing ratio example – Becky has 30 prospects. She has a closing percentage of 10%. She closes one deal. How many prospects remain in her pipe? The answer is 20. She has 1/10 chance of a closing deal in pipe. The other 9 are no longer viable prospects. This means her pipe is reduced by 10 rather than 1. She must replace those 10 to keep her pipeline full.
Always be prospecting.
The first rule or sales slumps is to start prospecting!
Know your numbers
Sales is a numbers game
What you (quality) you put into the pipe and how much (quantity) determines what you get out of the pipe.
Make sure you know activity numbers and what comes from that
The three P’s that hold people back according to Fanatical Prospecting
Paralysis by analysis – playing the what if game
Procrastination is the grave in which opportunity is buried
Disrupting the 3ps – focus on making one call and then the next, then the next. Or tell them to “just do it”
Time management is key to success in sales.
You need to optimize for selling time.
Block off golden hour times for prospecting and don’t let anything interfere. Always have it on the calendar to prospect.
Parkinson’s law states that work tends to expand to fill the time allotted for it. Hortsman’s corollary is the converse. It describes how work contracts to fit into the time allowed. So you could allocate 60 calls for a day and people will make 60 over 8 hours or 60 calls for 2 hours and people will make 60 calls in 2 hours.
Sales gravy has inside sales team do 120 calls in three-hour blocks.
Blocking off uninterrupted time works excellently.
Just make dials and update the crm after. No breaks during the hour, no getting coffee. Have a targeted list prepared before. Make notes and log everything after which is time blocked for crm activity. Schedule blocks for email and social prospecting
Three power hours – morning, midday and afternoon.
The above works because work fits in the allotted time so more gets done and anyone can stay focused for an hour.
If you can stick to an hour a day to make 25-50 calls, another hour for email, another for social, your pipe will be packed in 60 days.
Time blocked off for prospecting cannot be blown off. It is mandatory! Don’t multi task! Just make calls, update crm after.
Blocking off time to only make calls is key. No email. No texts. Nothing but calls.
Do not let email stop you from getting your day started and respecting prospecting. block off first hour or two of day for prospecting!
Golden hours – sales prospecting and nothing else
Platinum hours – everything else to set up your day for sales activity
Fanatical Prospecting Cliff Notes:Prospecting objectives
- Set an appointment
- Gather information and qualify
- Close a sale
- Build familiarity
Make sure to define what a qualified opportunity looks like
Start prospecting with the highest value to lowest value. Based on potential or size of the opportunity and the probability they will convert into a sale. The top is hot inbound leads or referrals. The bottom is contact info only. Create a list to call based on this.
CRM – update records, good in depth notes, log calls, put new leads in when you get them
Fanatical Prospecting Referral Types
- Customer – happy clients that trust you
- Personal – from friends or family
- Professional – from your professional network
Key to getting a referral is to give a legendary customer experience and ask
EXAMPLE OF REFERRAL ASK
“Patricia, thank you again for your business. I’m glad to hear you’re happy with us. I’m working hard to add more customers like you. Would you be able to introduce me to other people in your network who might want to use X?”
Social is the best for building familiarity not being pitched or sold to
Find two channels and use them, figure out which are best for your target customer and prospects
Email and phone better than social
Make sure your profile is good on LinkedIn bc buyers will look at it Prob need professional headshots
Connect with everyone you talk to on LinkedIn
“I would love to have a few minutes of your time to tell you about our company” is a terrible message
Messaging on phone, email, social…
-product and service features dump
-an enthusiastic pitch about their company being number one or biggest of that -regurgitated list of generic facts and figures
-marketing brochures -irrelevant info
Prospects meet with you for their reasons, not yours. Your message must demonstrate a sincere interest in learning about them, listening to them, and solving their problems. Don’t overcomplicate the message
Must exude confidence! Be relaxed too.
enthusiasm and confidence are key!
What You Say
Must be quick, simple, direct and relevant.
Answer WIFM – what’s in it for me? For the prospect.
- Focus on a biz objective that is measured. You’ll get their attention if you focus on a metric that impacts their performance
- Disrupts the status quo – people don’t like change and will only move from status quo when they feel they can significantly improve their current situation – increase sales, reduce costs, improve efficiency, reduce stress, etc
- Offers proof of evidence
Fanatical Prospecting’s Power statements
- The prospects issues
- Your offering that addresses these issues
- Competitive differentiators
Why do my customers choose to do business with me?
The Power or Because
“I’d like 15 minutes of your time BECAUSE I’d like to learn more about you and your company” works surprisingly well
Pitch emotion, not logic
Make decisions with emotions and justify with logic.
They give up time if you offer…
- Emotional value – connect on an emotional level – relating to painful emotions like stress, worry, insecurity, distrust, anxiety, fear, frustration or anger and offering them peace of mind, security, options, lower stress, less worry or hope
- Insight (curiosity) value: give them power or leverage over other people. Help maintain a competitive edge.
- Tangible value – logic. A similar situation that we delivered
ASK FOR WHAT YOU WANT
Ask for a meeting. Ask for an appointment. Ask confidently.
- Ask with confidence and assume you’ll get what you want
- Shut up
- Be prepared to deal with reflex responses, brush offs and objections
The reason I’m calling is…”
“Tell me who how when where what”
“Why don’t we go ahead and get that set up?”
“How about we meet at 2pm”
Ask and then shut up.
Fanatical Prospecting Call Structure In FIVE STEPS
- Get their attention by using their name “hi julie”
- Identify yourself “my name is jeb Blount and I’m with sales gravy”
- Tell them why you’re calling “the reason I’m calling is to set up an appointment with you”
- Bridge -give them a because “I read an article that said your company is going to add 200 sales positions over the next year. Several companies in your industry are already using sales gravy for sourcing sales candidates and they are very happy with the results we are delivering”
- Ask for what you want and then shut up. “I thought the best place to start is to schedule a short meeting to learn about your sales recruiting challenges and goals. How about we meet Wednesday afternoon around 3pm?”
Can also say “the reason I’m calling is because you downloaded x” The five step framework is good bc it will help you have a guide.
Don’t pause at anytime doing the 5 steps above. Also, don’t ask “how are you “
Ask for what you want and shut up
-qualifying – then ask for more info to determine next step
-appointment – ask for day and time
-engage in a sales convo – ask an open ended question to get them talking
Only leave voicemails when it matters
Identify yourself, say your phone number twice, tell them the reason for the call, give them a reason to call you back, repeat your name and phone number twice.
No best time to call. Always call. Usually best to do the first two hours of the day.
TURNING around RBOs
Reflexes, responses, brush offs, objections
1. Anchor 2. Disrupt 3. Ask
If you get rbo then respond and another rbo then call back another day. Don’t ever say “I understand “
How To Get Around Gatekeepers
No secret formula. Be likable, use please, be transparent, connect, don’t use tricks, ask for help, call early or late, leverage social, try email, send a handwritten note.
Salespeople help salespeople hack!
You can also try contacting sales because they may be empathetic to you trying to reach someone.
Persistence always wins. Persistence always wins.
Fanatical Prospecting Cliff Notes on Email prospecting
Avoid attaching images, hyperlinks, attachments, skip spammy words or phrases. Don’t send to too many people at the same company or to the same person, scrub bounces.
- Rule #2 email must get opened – if they’re familiar with you it may get opened, hence leaving voicemail, connecting on social etc. subject lines can’t be too long, no questions, impersonal or boring. No secret formulas. Gotta tear
- Your email must convert
Four elements of an effective prospecting email
- Hook – get attention with compelling subject line and opening sentence
- Relate – demonstrate you get them and their problems
- Bridge – connect the dots between their problem and how you can help them. Explain the wiifm
- Ask – be clear and straightforward about the action you want them to take and make it easy for them to do so
Send emails in the morning
Text Messaging works better the better you know the prospect
When it’s time to go home, make one more call.
You can buy the book here – https://www.amazon.com/Fanatical-Prospecting-Conversations-Leveraging-Telephone-ebook/dp/B01617VD3I
www.cheetahiq.com – The fastest way to research your sales prospects