You're juggling new leads and existing prospects. How do you decide where to focus your efforts?

1 Lead Potential

When you're evaluating where to focus your efforts, start by assessing the potential of each new lead. Look at their industry, company size, and specific needs to determine if they're a good fit for your product or service. If a lead's potential value is high and they seem like a likely candidate for conversion, they may warrant more immediate attention. However, this doesn't mean you should neglect your existing prospects; it's about finding a balance that maximizes your chances of closing deals.

2 Prospect Readiness

Understanding the readiness of your existing prospects is crucial. If a prospect has been thoroughly nurtured and is showing signs of readiness to purchase, prioritize them. These signs could include asking about pricing, indicating a timeline, or requesting a demo. These prospects are often closer to the end of the sales funnel, and pushing them through to a closed deal should take precedence over newer leads that may require more time to develop.

3 Sales Goals

Aligning your efforts with your sales goals is another key factor in deciding where to focus. If you have a quota to meet, you might prioritize prospects who are more likely to close within the sales period. Conversely, if your goal is to expand into new markets, you might focus more on new leads that align with that strategic direction. Always keep your end goals in sight to ensure your efforts are contributing to your broader sales objectives.

4 Time Management

Effective time management can help you serve both new leads and existing prospects without compromising quality. Allocate specific times of the day or week for prospecting and follow-ups. Use customer relationship management (CRM) tools to keep track of interactions and set reminders for follow-up actions. By organizing your schedule, you can ensure that neither new leads nor existing prospects are left behind.

5 Lead Qualification

Lead qualification is a process that helps you determine which leads are worth pursuing. Develop a set of criteria based on factors like budget, authority, need, and timeline—often referred to as BANT—to evaluate new leads. If they don't meet these qualifications, it may be more efficient to focus on prospects already in your pipeline who have passed these checks. This ensures you're not wasting time on leads that are unlikely to convert.

6 Relationship Building

Finally, don't underestimate the power of relationship building. Even if a prospect isn't ready to buy right now, maintaining a relationship can lead to future sales. Regular check-ins, providing valuable content, and being responsive to questions can keep you top-of-mind. Balancing new lead acquisition with nurturing existing relationships is key; it's not just about closing the immediate sale but also about building a foundation for ongoing business.