Database set up? Check
Phone working? Check
Calendar in front of you? Check
Great work…you’re now ready to start booking appointments. Where better to start than the beginning? Last names that start with A.
Adams: Met multiple times with your predecessor but never dropped a ticket. Not worth the call right now. Next one.
Afton: Dropped two tickets back in 2016. Also not really worth the time right now. You need to reach people who are going to do business. Next contact.
Ahrendt: Never returned calls. Next.
Akel: Notes say, “Rude, hangs up on wholesalers.” Next.
Akens: Left the business in 2014. Next.
We’ve all been there…staring at a database of thousands of names, not knowing where to start. There has to be a better way than this.
Whether you’re new to the job or established in your territory, getting your data squared away can seem like an overwhelming task, but it’s not as hard as you think. Here are some tips for ranking and listing your database so that you can hit the ground running when you start making calls.
Know which side your bread is buttered on. If a contact has done business in the last six months or a year, create a search field and term so you can come back to him easily.
Consider sub-categorizing your producers, too. For example, if a client did less than $50k in the last year, rank them as a D producer. If they did $51k - $100k, rank them as a C producer. And so on and so forth.
Do Your Homework
Chances are that there are prospects in your territory who are buying products like yours from other vendors. Find out who they are by pulling some simple market metrics and, again, create a search field and term that you can give to these contacts. Something like “Fund purchaser” or “Did business with other product wholesalers,” will allow you to search for these people the next time you’re making calls.
Having this information is great, but it doesn’t mean anything if it’s not timely. Make sure you date your lists and rankings so that you know you’re dealing with the freshest stats. Label your best clients “A Producer 3-2019” or your most elusive prospects, “Top 10% producer 3-2019.” Update the dates as the stats change and grow.
Broaden Your Scope
Individual purchases make up your sales so the bulk of your focus should be on singular contacts. However, there are often special relationships that are created between wholesaling product companies and broker-dealers. Know the companies with which your product has unique features and put your focus on those offices and branches.
Sales isn’t a stab in the dark. Be prepared with updated, current sales numbers and aim your focus at those who are likely to buy your product.
The ESA Advantage
Executive Scheduling Associates knows the importance of good client lists and rankings. We will work with you to update your client information quarterly so that we are always calling on your most-refined focus list. Our custom databases have fields created specifically for noting who is who and every update we make is dated with the month and year so your most up-to-date information is always at our fingertips.
Ready to fill your calendar with the best and brightest in your database? Give us a call.
What’s your favorite way group your contacts? Tell us about it in the comments below.