Taking Prospecting to Taking Prospecting to the Next Levelthe Next Level

2008 International Insurance & Finance Congress 2008 International Insurance & Finance Congress

Joey DavenportJoey Davenport

Prospecting PhilosophiesProspecting Philosophies

Prospecting is Belief-Driven.Prospecting is Belief-Driven.The most successful people are the best The most successful people are the best prospectors, not the best salespeople.prospectors, not the best salespeople.We are in a prospecting and promotion We are in a prospecting and promotion business - Granumbusiness - GranumYou have to gather as many “acorns” as You have to gather as many “acorns” as possible early in your career. possible early in your career. The average income of your clientele will The average income of your clientele will equal your average income over time. equal your average income over time.

Reasons for Prospecting FailureReasons for Prospecting Failure

1.1. Simply Don’t AskSimply Don’t Ask

2.2. Lack of BeliefLack of Belief

3.3. Lack of PreparationLack of Preparation

Prospecting is Belief Driven Prospecting is Belief Driven CommunicationCommunication StatisticsStatistics

Words Words = = 7%7%

Tonality Tonality == 38%38%

Body Language Body Language = = 55%55%

Reasons for Prospecting FailureReasons for Prospecting Failure

1.1. Simply Don’t AskSimply Don’t Ask

2.2. Lack of BeliefLack of Belief

3.3. Lack of PreparationLack of Preparation

““ It’s not the It’s not the will to win, will to win,

but the will to but the will to prepare to win prepare to win that makes the that makes the

difference.”difference.”

Paul “Bear” BryantPaul “Bear” Bryant

Prospecting – Setting the StageProspecting – Setting the Stage

““First of all, I’d like to thank Harry First of all, I’d like to thank Harry for introducing us. That’s important for introducing us. That’s important

because I work because I work exclusivelyexclusively on a on a personal introduction basis . . .”personal introduction basis . . .”

Prospecting TransitionProspecting Transition

1.1. Get the affirmativeGet the affirmative

2.2. Refer back to the nominatorRefer back to the nominator

3.3. Ask permission to brainstormAsk permission to brainstorm

4.4. Take the primary objection awayTake the primary objection away

5.5. Feed a name or categoryFeed a name or category

#1 Prospecting Objection#1 Prospecting Objection

“I don’t know anyone in the market for your services”

“No one comes to mind”

“I can’t think of anyone”

““People know people, People know people,

not referrals.”not referrals.”

Client ConcernsClient Concerns

1.1. Concerned about how others will reactConcerned about how others will react

to the referral.to the referral.

2.2. Had a bad experience in the past they Had a bad experience in the past they

don’t want to repeat.don’t want to repeat.

Strategy for Overcoming Strategy for Overcoming ConcernsConcerns

• Acknowledge and validateAcknowledge and validate

• Explore their resistance carefullyExplore their resistance carefully

• Re-frame their thinking softly Re-frame their thinking softly

• If they are still uncomfortable, plantIf they are still uncomfortable, plant

a referral seed and move on.a referral seed and move on.

““The Graceful Exit”The Graceful Exit”

“If you happen to run across someone in the future who you

think could benefit from my services, would you keep me in mind?”

Planting Referral SeedsPlanting Referral Seeds

“If you happen to run across someone in the future who you

think could benefit from my services, would you keep me in mind?”

Planting Referral SeedsPlanting Referral Seeds

“Keep in mind, I’m never too busy to see if I can help friends or

family members you care about.”

Planting Referral SeedsPlanting Referral Seeds

“Don’t keep me a secret.”

Prospecting StrategiesProspecting Strategies

NestingNesting

Benefits of NestingBenefits of Nesting

Increases Your EfficiencyIncreases Your Efficiency

Helps to Pinpoint Specific CategoriesHelps to Pinpoint Specific Categories

You are Perceived as the Expert You are Perceived as the Expert

You Understand their Issues, Benefits, etc.You Understand their Issues, Benefits, etc.

RestaurantRestaurantOwnerOwner

CookingCookingSuppliesSupplies

LinensLinens

FurnitureFurniture

SilverwareSilverware& &

DishesDishes

Other Other Restaurant Restaurant

OwnersOwners

Kitchen Kitchen EquipmentEquipment

FoodFoodDistributorDistributor

Wine Wine & &

LiquorLiquor

RestaurantRestaurantOwnerOwner

RestaurantRestaurantOwnerOwner TiresTires

ToolsTools

WoodenWoodenPalettesPalettes

Other Other Trucking Co. Trucking Co.

OwnersOwners

ShippingShippingMaterialsMaterials

Oil Oil & &

GasGas

Shipping Shipping CompanyCompany

OwnerOwner

TruckingTruckingPartsParts

LargeLargeTrucksTrucks

Ideal Client ProfileIdeal Client Profile

Small Business Small Business OwnersOwners

Franchise ownersFranchise ownersConsultantsConsultantsContractorsContractors

Top SalespeopleTop SalespeopleInsideInside

OutsideOutside

ProfessionalsProfessionalsAttorneysAttorneys

Real Estate BrokersReal Estate BrokersTradersTraders

Investment BankersInvestment Bankers

Corporate ExecutivesCorporate ExecutivesAbbottAbbottBaxterBaxter

GraingerGraingerHewittHewitt

Prospecting ResourcesProspecting Resources

•www.martindale.com

•www.doctordirectory.com

•www.dentistdirectory.com

•www.cpadirectory.com

•www.infospace.com

•www.anywho.com

Three Ways to Three Ways to Grow Your BusinessGrow Your Business

Increase the Quantity of Your ActivityIncrease the Quantity of Your Activity

Increase the Quality of Your ProcessIncrease the Quality of Your Process

Increase the Quality of Your ProspectsIncrease the Quality of Your Prospects