I cannot emphasize enough over the point that prospecting is not an easy task. It is a very unpredictable and comprehensive process. You can never really tell if the prospect is a hot lead, at times they just back off from purchasing the product at the very last stage of the sales funnel. It might be frustrating at times, put so much effort only to be denied in the end. This is where the question arises, how much time should you invest in one prospect? How to know which sales opportunities are worth it and the reasons behind them? The answer to that is sales matrix.
In this blog you will read what is sales matrix and how does it improve your prospecting efforts.
What Is Sales Matrix?
It shows how much time a prospect spends on your site. With its help, you can decide how much time to invest in a prospect based on their general interest. Fit and interest are core concepts. Prospect fit covers the technical side of the process whereas the interest which involves the inbound marketing side. For instance, if you lack interest in the product customers want then the product won’t sell.
Need For Sales Matrix
The main reason why this tool is important is that it helps sales representatives to understand which prospect is really important. Apart from these, the following are the importance of the sales matrix:
- Helps to prioritize important leads
- Helps sales representatives recognize prospects who will not benefit from their efforts and those who will.
- In addition, it helps sales reps know which prospects need some nurturing and which ones need a lot of attention.
How To Recognize The Right Prospect?
All you need is the right knowledge on who benefits from your product, and for how long can they use your product to satisfy their needs. What problems can your product solve and how much time will it require? Where can you find customers who are desperately in need of the type of product you sell and who are they? Once you figure out all of these, then you can identify the right prospects to whom you can sell your products or services.
How To Analyze Whether A Prospect Is Interested In Your Product?
In order to know if a particular prospect is interested in your brand is by analyzing their visits to your website. A person who has visited all your pages is more likely to talk to you rather than someone who hasn’t been to your website. You can use prospecting tools such as HubSpot prospecting tool which will help you to figure and group people according to your preference. Furthermore, if a prospect is leaving behind their personal address and completes surveys then they are likely to invest in your company.
Applying Inbound Sales Matrix.
1. Analyze which prospects are reviewing your product
To understand which prospects have been visiting your company, you can use your website’s prospecting setting(if you have one, or allow us to do it for you). This information is for you to review and decide which prospects are worth your time and how to allocate resources towards them.
2. Perfect prospect for your company
There are different concepts you can consider to analyze critically which company/prospect would be a good fit for your products, for example; what the company does, where it is located, how big or small is the company, how many times /often has this company visited my website or landing page, what was it looking for and when did they last check my website and more other things to consider.
Still, additionally, you can go ahead to contact them directly either by phone call, text message, social media, or even email, and finally, you can add them to your inbound prospecting matrix cart as your immediate contacts if you are sure that you are likely to close a deal with them.
3. Analyze Their Movement On Your Website
Depending on the prospecting software you use, you can see what products or websites have they been looking for at your websites and give them priority accordingly.
Conclusion
The inbound sales prospecting matrix isn’t just about how many prospects you contacted, but also how many prospects you converted into customers; Hence, sales reps should use this tool to separate those who are interested and ready to purchase your products from those who are neutral or just there without interest. This is good because it saves you time and money.