Discover the Stages of Prospecting with airSlate SignNow

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- In this video, you're gonna learn the fundamentals of sales prospecting, and how you can use it to turn total strangers into paying customers. And you want to make sure you watch this video until the end, because if you are doing any type of sales prospecting, and you are missing out on these strategies, no matter how many cold calls you make, LinkedIn messages you send or cold emails you send, you're not gonna get any results. So if you just take a couple of minutes to learn these strategies, it's going to dramatically increase your success rate. (upbeat music) What's going on everybody? It's Patrick Dang in here. Before we get started, make sure to give this video a like, subscribe, and turn on notifications. If you want to see more videos like this. And let's get started. Now, the first thing we gotta do is, we've got to get an understanding of what exactly sales prospecting is. Now, sales prospecting is, generally, the act of looking for people who might be a good fit to buy your product or service, right? In a way you're kind of hunting for customers. And how it works is, you just make a list of people that you want to sell to, and you reach out to them either with cold email, LinkedIn or cold calling. So now that you understand generally what sales prospecting is, let's dive a little deeper on exactly psychologically, why it works. Now, when it comes to sales prospecting, there's going to be three key stages that somebody will go through before they actually become a customer. What you want to do is, you wanna look at this life a funnel, okay? And the first step of the funnel, of the three-step process is that you're talking to somebody who is unaware that they have a problem. Now, when it comes to making any type of sale, before someone can actually make a buying decision, they usually have to recognize that they have some type of pain, right? The pain has to be bad enough for them to want to pay money to make that pain go away, Similar to how you would go to the doctor, you have a stomach ache, you're willing to spend money, ask for advice and biomedicine to make the pain go away, selling pretty much anything is the exact same thing. Now most people that you're going to talk to are going to be unaware that they have a problem. So let's say for example, you are selling a software to accountants, right? And for accountants, maybe they're going about their business, and every day they're doing their accounting work and everything works, but it could be better. But they don't even realize they have a problem. So if you are, let's say reaching out to them with a cold call, for example, and you ask a question like, hey, just curious, how exactly are you handling all your administrative work? And they might say, oh, you know, we just, you know, put it on Excel. And we have print out all the paperwork, and stuff like that, and it works. And you can ask more questions and say, okay, that's pretty exciting. You know, I'm just curious, how come you guys haven't automated this process yet? You know, there's software where it can take care of 80% of the work you're talking about. And they might say, oh really? what kind of software can do that, right? So basically for these accountants, maybe they're doing something a current way and it works, but they don't realize how much time they are wasting, and how much money they're wasting, doing it the old way. And that's why you want to give them the new way, which is purchasing your software. And now suddenly you turned a latent pain, a pain, someone doesn't realize that they have, and you turn it into a realized pain. And suddenly the prospect, or the person you're trying to sell, to is aware of the pain. And they're more interested in buying your product and services. So when you are doing any type of sales prospecting, whether it's cold email, LinkedIn, or cold calling, the first job is to understand if the prospect even realizes they have a pain. And if they don't realize it quite yet, it's your job to make them aware of these pains. Now, the next step of the sales process is once the prospect is actually already aware of their pains, either you have educated your customer on what these pains are and they, you know, see what problems they have, or maybe they already realize they have a pain, but they didn't know a solution existed. Either way, they are aware of the pain. And it's now your time to ask more questions and make that pain really hurt. And what I mean is that you don't want to solve their pains right away. You want to really make them realize why that pain is so strong, and why they should actually do something, whether it's a pay money or invest time to make it go away, and invest in your product and services. So for example, if you're selling, let's say accounting software, you could say, how many hours a week do you spend on accounting? You know, how much money is that costing you to do it manually? Have you tried anything to fix it yet? And as you ask these questions, the prospect is going to realize, wow, actually I've been doing this thing the hard way for the longest time. Why haven't I found a solution sooner, right? You're getting the prospect to think, and you're getting them to try to solve their own problems. But in the end, they're going to realize that they can't really do it by themselves, or maybe they don't want to do it by themselves. And you happen to be the expert who can help them solve their problems better than they can do it by themselves. Now, although this might seem like a very basic concept. It is actually quite advanced and not that easy to do. Basically you're taking someone who has no idea who you are, and they don't know what your products and services do. And you are trying to convince them that hey, you have a problem. And this problem is really bad, and you should buy my products and services to make those problems go away, right? That's like true selling. Now, it's very different from, let's say, you know, a sales rep working at the Apple store, right? 'Cause in the Apple store, you know, the people who are working on the sales floor, selling iPhones and iPads and things like that, they do not get commission for every phone or computer that the sale, because Apple does such a great job in their marketing and branding. People just come in and they just ask a couple of questions and the products essentially sell themselves when they get to that point. So the reason why sales people get paid commission, especially when it comes to prospecting, and closing deals, is because you're doing something difficult in that you're selling something in convincing someone, why they need your certain product and service, even if they don't even know what it is. Now, the whole goal, when it comes to, you know, getting people to become aware that they have a problem is that you're gonna want to position your product and service as the solution to their problem. That way it's very natural sell, right? You're not really forcing anything on a person. It's like, hey, you have a problem. I might be able to help you. You wanna hear about what I do? And they're gonna say, sure, tell me all about what you do. And you earn the permission to pitch. Now, the last step of the sales cycle is to get the prospect to make a decision. And usually this is gonna be a purchasing decision on whether or not they buy your product and service. So, you know, before you even get to the point where the customer is ready to say yes or no, you have to understand this: You identify the customer's pain. You make them really realize why that pain is so powerful. And then from there you position your product and service as the solution to their pains. From there, the prospect is going to make a decision on whether or not they should buy, depending on what you told them. Now you have to understand that even if they have a pain, and even if your product or service is the perfect solution, most of the time, they will actually say no, right? And that's basically sales. There can be an infinite number of reasons for why someone says no. Maybe they don't have the budget, or maybe they're working with a competitor, or maybe it's important to them, but there are other things that are more important right now, and maybe in the future, right? It can be an infinite number of reasons. You have to understand that. Even if you do every step of the process right, people can still say, no. However, by doing this process, you increase your odds of people saying yes. So when it's a good fit to work together, you want to get that yes. Now a trick here is that when it comes to getting the prospect to make a decision, you either want two things. You want a yes. Which is great or no, which is okay too, because people say no for different reasons, but you never want a maybe. Because maybe it means, what does that mean? Does that mean they're going to buy later? Are they gonna buy now? What is a situation? Either hey know they want it, or they know they don't. And you want to clearly articulate it and clearly get them to say yes or no. If they say no, that's okay. But you have to understand why, so you can improve your sales cycle and sales process for the next person. If they say yes, great, you generated a sale. But if you get a maybe, you don't even learn from it. You don't know why they didn't buy it, and you can't improve. So again, get a yes, get a no, but you never want a maybe. And so with that said, those are going to be the three steps to sales prospecting. First, the prospect's gonna be unaware. Then you make them aware. And then you get them to make a purchasing decision. If you enjoyed this video, make sure to give it a like, subscribe, and turn on notifications. If you want to see more sales videos, make sure to check out my other videos. And let me know in the comments, what's the number one takeaway that you got from this video? 'Cause I'm always interested to hear what you guys think. So that said, my name is Patrick Dang, and I will see you guys in the next one.