MAD: The 3 best approaches to deploy when prospecting for customers
Your prospect has to be MAD to buy from you. That is true in almost all the cases. You may ask why?
Market is a gathering of people. It doesn’t matter if those people are on social media or in your neighbourhood – so long they have needs that can be defined and measured, and such people can be reached via the internet, phone calls or physical interaction, they are a market. But unfortunately not everyone who makes up the number in each market will buy what you are selling.
Selling is a profession every humanbeing does consciously or unconsciously. Some people want to be loved and accepted; therefore they are always trying to tweak, and push, own personality to meet the emotional needs of their target. That is not quite different from the way Unilever sells Lipton, or MTN sells recharge cards to millions of Nigerians. Selling therefore can be defined as an objective drive to obtain a favourable outcome. This makes the selling principles adaptable to every area – social and economic.
However, it is possible for the seller to wastes his or her efforts. This happens when the target is not qualified for the product or service being pitched. Being skillful in selling is a major life asset. How then do you avoid wasting your effort as a smart young man or woman just starting out in business – yes, as a startup?
Simply ask and answer these questions.
- Does your prospect have MONEY (M)? Money is key in business interactions. When networking at big or small events, the objective is to attract more money by meeting people and organisations that can give us more business. So don’t be shy about it, does that person have enough money to buy what you are offering? Or is he going to link you up to someone who will give you the opportunity to make more money?
- Does your prospect have AUTHORITY (A)? You will be wasting time if the person you are pitching your product to does not have the capacity to make decision. What you need to do is to ask to meet someone who has the right to make buying decisions. Understand that most prospects are basically ‘prescribers’ or ‘influencers’ while a few are buyers in your market. One prospect may prescribe, for instance children telling their parents about a Cinema down the street; another may influence, for example an uncle telling the kid’s parents about the action-packed movies lined up for the weekend, but it is up to the parents to decide to take the family to the cinema. In sum, it is great to meet prescribers, strike a relationship with influencers, but targeting the decision-makers makes the journey shorter.
- Does your prospect have the capacity to Enforce DECISION (D)? Decisions made can be overturned, reviewed and reversed, or cancelled outright. In filling your sales funnels with smart prospects, ensure you have some ‘big whales’ in there who will stand by their decisions come what may. That ability often rests with people at the top of a buying organsiation. Not every small business owners get there sooner though. Start with prescribers, those are the distributors. Pitch your products and services to them. With time you will learn how to connect with influencers, those sent to make purchases. Meeting the overall decision-makers takes time but if you keep building relationship you will climb the ladder so high to become visible to those at the top.