So Why Concentrate on Prospecting Instead of Sales?

Prospecting is the "be all and end all" of business!

Without prospects to sell to, you will have no sales, therefore prospects are the lifeblood of any business. Smart businesses know how to collect prospects data to use for later education and conversion to customers.

Even then these past customers are still prospects, as all is not done with yet! There are backend and upsell sales to offer these customers, who now are prospects for your new offer!

The prospecting attitude is a vital and never ending attitude for business, but you must know the metrics for this strategy.

Offline businesses have a harder time with this than the online community, as they mostly just concentrate on obtaining the new sale, then they go out and spend 6-10 times as much money on trying to capture another new customer, rather than upselling to the customers they already have!

I was told that at any given time in a data base of over 500 well targeted prospects, there is at least 3% of sales just waiting to be reaped. I tested this a few years ago with a business I had at the time when computers were just coming in and I did not have one, so everything was phone and snail mail.

Here are the results.

We used to send our data base monthly to 3 monthly newsletters, but NEVER once offered them our basic program or any other product we had for sale!

Can you believe that?

After hearing about the 3% figure, we sent out promo information on our $600 product to the data base of just on 1,000 people and if the numbers were correct, we should gain around 30 or so sales. Within a month, we were so busy, I put the price up 10% to $660, then after 2 months, we had enrolees everywhere had only waded through 680 odd people on the list, had gained 30 sales and promptly trippled the price to $1990, added payment plans and gained more referrals and sales!

Big shock there...My lesson was that prospecting is gold. Educate your prospects to the benefits of owning your product, treat them with respect, give them good info and remember to offer them your products!

This can become a money tree for life as you branch out, adding more and higher priced products to your back end over time.