Surefire Signs You Should Walk Away From A Prospect
When you work in sales, time is your most valuable asset. Many salespeople spend entirely too much time on prospects who simply aren’t a good fit. They pour their energy and resources into low-value or unqualified leads when they could be focusing their time on pursuing highly qualified, ready-to-buy prospects.
How can you avoid wasting time? Know the warning signs that a prospect isn’t right for you. Aja Frost, HubSpot’s head of content SEO, has outlined seven signals that it’s time to walk away from a prospect. We share her guidance in this issue of PromoPro Daily.
They can’t answer the critical questions. These include what success looks like, who else is involved in the decision and when the project needs to be complete. If the prospect responds with “I don’t know” to any of those questions, Frost says they’re either not serious or not a decision-maker.
They simply don’t have the budget. Everyone wants the best price and may push back when you present pricing details. However, sometimes the prospect really can’t afford your offering. To determine whether they’re fishing for the best price, or they truly don’t have the budget, Frost recommends asking questions like “What’s your company’s revenue?” and “If I changed billing terms or offered a slight discount, would that change things?”
They’re talking to three or more other promo companies. Competition is healthy, but when 3 or more companies are in the mix, it probably isn’t worth your time. This also indicates the deal may be in the early stages and you may not be working with the true decision-maker yet.
They ghost you. When you stop hearing from a prospect, take that as a sign that you should move on. They might respond to that 10th or 11th voicemail, Frost says, but at this point the odds are slim. Try sending a breakup email with wording like “permission to close your file” and then move them out of your pipeline.
They’re not the decision-maker. You won’t always immediately interact with the decision-maker and that’s okay. It only becomes a time-waster when the prospect won’t introduce you to other stakeholders, discuss their budget or answer any questions about their pain points. Don’t imply this person isn’t useful to you, Frost says, but ask them who else needs to be involved in the conversation.
They don’t see your value. If you’ve repeatedly attempted and failed to convince the prospect of your offering’s ROI and they still don’t see it, Frost says it’s time to call it quits. Some buyers will never grasp the message — and you’ll simply waste your breath if you keep trying.
It’s just not a good fit. Your ultimate goal isn’t to close more deals, but to provide the best solution to those who need it. When you know you really don’t have a product or service to help a prospect, move on. This frees up your time to focus on prospects who are the right fit for your offering.
It’s not easy walking away from a potential deal. However, doing so can help you in the long run. Stay alert for the signs above. If you find that you’re pursuing a poor-fit prospect, cut your losses and move on to more viable leads.
Compiled by Audrey Sellers