The three “P”s of prospecting

One of the most important and least-liked aspects of business growth is prospecting. Prospecting leads to sales, and sales is where all revenue in business comes from. Without revenue – any business is just a hobby.

If you truly look at why most businesses (and non-profits) fail – it is seldom a bad product, service, or idea. It is almost always not being able to take the idea and turn it into money. Which is sales and the first step in sales is prospecting for people to sell your product, service, etc. too.

So why do most businesses fail at this? Typically, because they have not defined it properly, built a system, or have not taken the correct steps to move forward with following the system.

To get better at prospecting – you can follow the Three P’s – Personal, Precise, and Painful. These three P’s seem simple – however, few actually take the time to truly build them out and then create a system to follow them.

Personal – making sure any message or communication is personal to the recipient. And the more personal, the better.
Precise – focusing on something specific vs. generic things. Specific product, service, event, etc.
Painful – tying the message to an emotion that the recipient is or has experienced. Not generic things like interest.

Working on then mastering these three P’s not only speeds up prospecting. It also minimizes the pressure, stress, and frustration felt by both the seller and the buyer in the sales interaction.

Here is an example of what applying the three P’s can do to your prospecting messaging:

Traditional Prospecting Messaging – “We sell insurance; contact us for a free quote.”
Which is not only generic – it is not personal, it is not precise, and it is not painful.

3P’s Prospecting Messaging – “We work with small business owners navigating the complexities of insurance coverage, who are frustrated with getting their calls returned, and questions answered.”

This is Personal – narrowing to small business owners vs. the entire population of society. 

This is Precise – to people navigating the complexities of insurance coverage. 

This is Painful – to people who are frustrated by communication from others in insurance.

Not only does it streamline the first parts of the interaction between the seller and the other party, but it also takes the pressure off both parties. – in the traditional message above, the seller is often pressured to offer a free quote and the unpaid work that comes with doing a quote.

And the receiver feels pressure to push away with “not interested” or take a quote they do not want. – this is truly unfair to both parties. It also sets up tons of wasted time, energy, and quite possibly money.

This concept of the three P’s seems simple; however, it is not easy. Our instinct is too broad and generic, as we often worry about excluding opportunities. However, it is incredible how much more effective and efficient our prospecting efforts can be when you open your mind to the possibilities.

So, let me ask – how do you sound? How do your salespeople communicate? How much time, energy, and money could you save by making your prospecting more personal, precise, and painful? If you don’t know or don’t like your answers – you should find a business growth consultant who can support you in elevating Your performance.