One of the most often talked about aspects in sales is prospecting. More specifically, what is the newest, most efficient and reliable way of finding qualified leads?
For commercial real estate professionals, the list goes on and on. How should you utilize digital marketing? How much print advertising should be used to complement this? Cold calls vs. canvassing an area door to door? How do you select the right networking group? Do you get more involved in the community? And this is just a partial list.
Finding balance in these areas can be daunting. No matter what methods you choose to explore for finding new business, there are a few best practices that have stood the test of time. Here are some proven methods to help sharpen your prospecting game:
Achieving high-level networking is a crucial element to success in any profession. In commercial real estate, there are no shortage of networking organizations to get involved in. Start by attending a few and find one that not only interests but challenges you. Above all, keep networking. Your group of contacts, organizations and ultimately, relationships will continue to increase over time.
#2 Refine your targets.
One tried and true technique is to ensure you’re refining your target and database. Are you working with property owners? Tenants? A particular industry niche? In today’s digital age, we have all the resources necessary to prospect more effectively by tailoring our message to a specific audience. In fact, various companies can provide predictive analytics to help you target the right people and businesses.
#3 Get social.
Part of being a trusted advisor comes from becoming a thought-leader in your market. This could mean developing a commercial real estate blog that focuses on leasing. Maybe you are active on LinkedIn and start publishing industry related articles via LinkedIn Pulse. Whatever you choose to do, be sure you’re online and social — sharing the valuable information your prospects are looking for. When you contact them and they Google you (yes, they will do that), what will they find?
#4 Reach out to more of the right people.
This may seem self-explanatory, but if you want to land more leads — reach out to not only more people but the right people. Prospecting is a numbers game. Just be sure that you have a solid customer relationship management system (CRM) that is developed with people you want to do business with. Use it for follow-up and lead nurturing — some of which can be put on autopilot if it’s set up correctly. Keep in mind, it’s been said that it takes upwards of 6-8 touches to generate a viable sales lead.
#5 Develop alliance partners.
Another unique method to get in front of more people is to develop alliance partners in your industry. Perhaps you partner with a lender to host a property tour. Getting creative with partnerships can often lead to improved referral sources — a win-win for everyone.
When you first start to prospect, remember that you are going to make mistakes. It is part of the process. Decide early on to learn from them. As you try new approaches, keep notes to avoid the same mistakes from happening in the future. Remember, even losses provide opportunities for improvement. Above all – nothing replaces hard work so don’t give up if it’s not successful the first time around.
At Heger Industrial, we empower our sales team with the tools and resources they need for success. Learn more by contacting us today.