How to Balance Prospecting and Account Management efficiently
When people tell you they’re busy, all you think about is – full pipelines, qualified prospects and still selling to the existing consumers. But just because someone is busy, does not mean their business is doing well. Take yourself for example. You’re an aspiring star-salesperson. Your job is to manage prospecting, servicing your old consumers, looking out for any new opportunities, and maintaining your report. You’re busy, but it does not mean you’re doing very well.
This just means that you have chaos disguised as your schedule. In the beginning, all the activities go harmoniously well with each other, but as soon as you ramp up the number of hot deals, it becomes pandemonium and you’re struggling to do better.
The point to consider here is that it is not about doing better. It is about keeping it together. And that will only happen if you make yourself a nice schedule and more importantly, STICK TO IT.
The Real Concern – Attitude Towards Prospecting
Yes, we get it. Prospecting is difficult, annoying, and a whole bunch of other adjectives you’d rather keep to yourself. But it is an integral part of your job and it must be done. What keeps you from striking a balance between prospecting and managing your accounts properly is the attitude you have towards the former.
At the root of your prospecting actions is the notion that you don’t want to do it. Obviously, it is easier to upsell and cross-sell to your existing accounts, solve their problems and bask in that glory rather than bracing yourself to be rejected for the 100th time. Because let’s face it, most prospecting calls end in rejection. This is why you procrastinate prospecting till the time you absolutely have to do it.
You have a whole big bag of reasons you can use as an excuse to put off prospecting, even though you know you will regret it. But it is just easier and non-demotivating to dial a friendly number who you know will not slam the phone down in the first three minutes.
Now that we have established how much you cherish the idea of prospecting, let’s talk about how you deal with it.
How to deal with it
We can see you smiling, and it is because we know you do not deal with it. You laundry-day it. Just like the pile of laundry in your room screams at you one fine day saying that you won’t have fresh clothes in the next couple of days, your manager tells you that they need NEW BUSINESS. Let’s come back to the laundry-manager comparison later and focus on the point at hand.
After looking at your pile of laundry, you unwillingly fill a tub and drop it off at the laundromat or curse every time you put an article of clothing in your washing machine. Similarly, you stuff all of your prospecting in one day, and the sheer unwillingness of doing it makes you unable to concentrate and do it well.
Here is the breakdown.
- You fit all your prospecting into one day.
- Account management duties do not wait for Prospecting Day.
- You have to prospect and manage on the same day.
- Everything is chaotic and you are struggling.
- You do it again next month.
This is how you end up prospecting ineffectively, that is if you prospect at all.
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Yes, we also heard it, “Bring me solutions, not problems.” But are you ready for it?
The only way to effectively balance your account management and prospecting is to even out the gap you try to fill in one day, into every single day. It means that you have to prospect every single day. It helps you incorporate all days of small activity into one successful result.
Plan your schedule in a way that you have a specific time allotted to prospecting. You don’t want to do it the whole day, so keep specific hours of the day and you can go back to account management for the rest of the day.
Schedule Prospecting through the day – Prioritize it!
Now, when it comes to scheduling time for prospecting, it is advisable to keep it at the beginning of your office day, because if you wait for another time slot, it is likely that you will never get into it and Prospecting Day will become a new occurrence even after all the planning.
Also, in the course of the day, there are going to be a bunch of things that will try to interfere with prospecting and you will get an excuse to procrastinate again. So, front-load your day with prospecting and complete it before any of the distractions come by and take you off.
When it comes to determining how much prospecting you have to do, it really depends on your status as a salesperson. If you are a beginner who’s looking to catch some good accounts, you’re going to need to put in a lot of effort and time. If you’re on top of the ladder, maybe prospecting enough to cover those existing accounts that are leaving you will be abundant. Consider your position and decide the amount of prospecting you need to do.
Plan your prospecting day to the T.
As a sales rep, you will be juggling calls, emails, and miscellaneous conversations throughout the day. If you do not have an airtight plan to deal with all of it, welcome to Prospecting Day.
Manage your leads and pipelines. You might have a huge pipeline with tons and tons of leads, but it does not mean your business will go very well or all of them will turn into consumers. What you can control is the activities related to the leads and not the outcome, so focus on building up the rapport and trust to propose a deal. If in the case it does not work out, let it go.
Analyze your pipelines. You must be tracking a lot of data on your pipelines because of the need to track, but that’s just unnecessary work. Monitor only the kind of data that is actually necessary.
Of course, you want to keep as many leads as possible, but understand that some of them are just cold and take up space that could’ve been for an ideal buyer and also use your resources and time. Make sure you keep flushing them out and checking on your pipelines from time to time.
A balancing schedule is almost like a diet plan. You are excited to burn off unwanted things, but you give up in a day and get back to your old routine. The whole concept of Prospecting Day can only be overcome if you have the willpower to solve your struggling office activities.
Once you fall into a pattern, it will be easier for you to maintain discipline and work more effectively on your activities. However, if you still fail to grab a good hold of it, seek advice from expert B2B sales and marketing consulting firms – they will help you craft an easy-yet-successful way ahead!
Do you also struggle with balancing prospecting and account management? Contact us today and we will take it up from there!