Hands down one of the greatest surprises in my work with IT services firms is how often I encounter a company trying to run sales and marketing programs without prospect lists. Having a targeted list of qualified prospects (target account list) is sales and marketing 101, yet so many businesses have forgotten the importance and effectiveness of narrowing their sales scope in order to concentrate on the best opportunities.

Many sales professionals will look at me like I have a second head if I ask, “How big is the current prospect list you are working from? Or, how many times a week are you contacting the individuals on your prospect list?”

In sales and marketing, you have to have a bit of a bounty hunter’s mindset. You must know who your “Most Wanted” targets are and go after them with strategic, creative assertiveness. Without a well-developed prospect list, a significant amount of your sales and marketing efforts go to waste on unqualified or uninterested parties. With a strong prospect list, you are continually sending valuable messages to potential clients that need, use and have the funds for the services your organization provides.

As the final sales quarter of 2007 gets underway for businesses, I want to provide sales professionals with a 10-point reminder of the numerous reasons why it’s so important to work from a qualified prospect list:

Why Prospect Lists Are a MUST

1. Focus. A qualified prospect list allows sales professionals to focus on the best business and revenue opportunities.

2. Time. Sales professionals reduce their workloads significantly by building and working from one list of prospects that is regularly updated rather than sending out new information to a constantly changing group of recipients. They also don’t waste time chasing the wrong prospects.

3. Effectiveness. Working from a list of qualified prospects will always be more effective than striking out on your own with each new sales and marketing program. The prospect lists allows you to concentrate on the best sales opportunities, which increases your likelihood of making sales. 

4. Profiling. Having a target prospect list helps sales and marketing professionals to define and know the profile (size, industry, challenges, etc.) of target companies. It makes the entire marketing and sales organization more focused and effective.

5. Greater Access. With a targeted prospect, sales people have time to better get to know, research and make contact with the company. They are more likely going to have the time and resources to get to reach and know key decision makers, a vital step in the sales process. 

6. Reduced Redundancy. When sales teams do not work from prospect lists, they run the risk of having multiple sales professionals contact the same company. The result is a business looks disorganized to the prospective client. When all sales teams work on qualified sales lists that are centrally vetted for redundancies, these types of awkward sales replications will not occur.

7. Measurement. When a prospect list is used it is much easier for a business to measure the effectiveness of sales and marketing programs. The organization gains important insight into why certain programs piqued the interest of prospects and why others failed to make an impact.

8. Increased Organization. A qualified list is a critical tool in organizing the busy, busy schedule of today’s sales professionals who must make calls, attend events, go to business and sales events, make business pitches and attend meetings. The list is another important tool that allows sales professionals to measure and keep track of their progress in reaching prospects.

9. Image & Brand Building. Focusing marketing and sales messages on key clients in a strategic, focused method is one of the best ways to build a strong, memorable brand with key businesses. The prospect list allows marketing teams and the sales professionals to customize and direct messages to the target, creating stronger, more resonant messages.

10. Timing. The prospect list is also an important tool for helping determine how much time you have invested with a prospect. If prospecting efforts with a qualified lead have gone on for numerous months with zero response, it may be time to move the prospect to a secondary list in order to add new, warmer prospects to the A list.

Stay tuned to the ClearEdge blog for more on how to organize and update prospect lists and how to keep prospect lists growing with proven lead generation techniques.

Leslie Vickrey
President & Founder
ClearEdge Marketing

This entry was posted on Friday, October 5th, 2007 at 12:05 pm and is filed under Business & Marketing Strategy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.