In the opening sequence of the classic television show, The Beverly Hillbillies, the character of Uncle Jed (played by the actor Buddy Epsen) is chasing a rabbit and fires his rifle - missing the rabbit and only ends up taking a big chunk of dirt out of the ground. But, miraculously, “up from the ground comes the bubblin’ crude”. He and his family had struck it rich with a single random shot from the old trusty family hunting rifle.
In our “hunt” for anew business leads to help create sales however, it’s likely going to take considerably more effort than one or even a few random shots to create a steady stream of prospects. Only with both sustained and intentional effort can we generate the ability to acquire the correct prospecting targets initially and, the right customers eventually.
For many years now, the funnel has been used as a diagram in countless sales and prospecting discussions. Sales training has often focused on bringing prospects through the “sales funnel”. But that is absolutely the wrong picture to have in our heads. In building a sales (marketing and sales support) list of qualified prospects, the proper image should be one of a pipeline. Something that has a continuous flow of prospects, not a voluminous, unqualified top end.
Your revenue pipeline is likely going to take more time, energy, and resources than you may hope for or be comfortable with. But there are rarely any shortcuts to building a process that will deliver a steady stream of prospects in the long run. Though the tactics will change depending on your business, industry and circumstances, consider implementing the following 3 concepts when building your pipeline.
Identify. For each of your particular products or services – find those customers most likely to buy. Spend some effort profiling your existing best customers. What are the common characteristics? In all probability, similar people or businesses exist who share the same needs and values and would make ideal prospects. And therefore, are more likely buyers of your services.