Tag Archives: prospects

Developing the Ultimate Sales TIP

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What exactly is a TIP and how does it work? In his book “Getting the Second Appointment,” author Anthony Parinello describes this sales weapon as, “a tool that helps you to eliminate individuals and organizations that are likely to waste your time.” TIP stands for Template of Ideal Prospects, and it works to qualify your sales leads by comparing your current prospects to the qualities you see in your top current customers.
Here’s how you can create your own TIP sheet:
  • Take your company’s current customer list and study it very closely. You may need to break the list down into sub-groups, industries or niches in order to get the best understanding of what lies at the core of each company.
  • Ask yourself: What do my company’s best, biggest, and most profitable current customers have in common? Then write down your answers this question for each top current customers, being very detailed and deliberate about what you record.
  • Develop a worksheet that lists these common factors, along with a way to record whether your prospective customer meets that criteria (see sample TIP sheet below). The longer the list of common factors, the more accurately and completely you will be able to prequalify your prospects.
  • Once you have created your TIP sheet, you can begin filling it out for your prospects. In the beginning, it is best to only spend your energy pursuing the prospects that meet all of your criteria. Remember, the criteria you have established was gathered from your top current customers, and offers a reflection of the type of companies you want to do business with. Don’t compromise on what you deem to be most important.
  • If you have been wasting your time tracking down lukewarm leads and prospects, this TIP sheet is sure to give you a fresh perspective on landing hot sales.

Find Prospects Not Suspects

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Are you wasting your time, money, and enthusiasm on people who sincerely aren’t interested in what you have to offer?
Instead of looking for suspects who may have the capacity to buy your product or service some day down the road, start seeking prospects who are qualified to do so today. In other words, go where the money is.
Here are some tips on how to find prime, qualified targets today:
  • Build a strong client list of names, addresses, e-mails, and phone numbers by placing customers on a preferred client mailing and announcement list. After requesting to add them to your client list, be sure to follow through and make formal announcements once you compile your client list.
  • Use the Internet to search for other industries that have a similar target audience (those who are complementary versus competitive with your business). When you determine which other businesses would also sell to your client, contact them and offer to share or trade prospect names with them.
  • Don’t limit your prospecting simply to previous or current customers. A large number of high-quality prospects and leads can be turned into profitable clients through regular and strategic communication with them.
  • Avoid general advertisements, letters, or promotions. Always make sure that your offers refer to a specific product or service. This way, readers with strong interests can easily qualify themselves and take advantage of your offer.
  • Always focus your efforts on the markets, prospects, and activities that offer you the highest probability of a payoff. The less energy you waste on suspects, the more you have left for big, rewarding prospects.