I hear this question a lot…”When should I move on?”
You have left 6 messages and haven’t received a return call.
You have a prospect and things were moving along pretty well and now you can’t get them back on the phone.
Should you move on?
First, the data is clear on this – it takes an average of 8 attempts – eight! – to reach a prospect. And if it’s a prospect that is already in the sales process, you probably screwed something up….
Second, whether or not you should move on is dependent on six factors. I’ll list them here:
Factor #1 – The Size of Your Prospect Pool: If you have thousands of potential prospects, it’s easy to say, “next!”, while if your pool of potential prospects is limited, “next” is not a viable option.
Factor #2 – The State of Your Pipeline: If your pipeline is filled with quality opportunities, it’s easy to say, “next!”, while if your pipeline is on the empty side, “next” is not a viable option.
Factor #3 – Competitive Nature: If you don’t mind losing, it’s easy to say, “next!”, while if you can’t stand to lose, “next” is not a viable option.
Factor #4 – Odds: If you don’t have much of a chance to win the business, it’s easy to say, “next!”, while if you have a good chance to win the business, “next” is not a viable option.
Factor #5 – Profiling: If the prospect doesn’t fit the profile of your ideal customer, it’s easy to say, “next!” while if they are right in your sweet spot, “next” is not a viable option.
Factor #6 – Leverage: If the prospect was using you to keep their existing vendor/supplier honest, it’s easy to say, “next!” while if low price isn’t a factor and there isn’t an existing vendor in place, “next” is not an option.
Can you think of any more?