So I just received a question from a client asking about the effectiveness of cold prospecting and whether or not it was a valid way of marketing for people who weren’t actively searching for the need.

So let me address this in today’s video.

At any given time, only 3% of your total market is in the market to buy right now.

So that means the vast majority are either open to it, not thinking about it, or don’t know they’re interested. 

But this majority could be interested with the right information. So when we’re cold prospecting, because most people are not buying right now, you don’t want to hit them with a sales pitch right away. 

Instead, you want to be able to find a way to offer them a new and fresh perspective on an existing problem or an area of business that they’re actively trying to improve right now. 

You see, you want to give them a new and fresh perspective that adds value to their lives, opens their eyes up to new opportunities, and just really gets them excited for what’s possible. 

Now, a silly little example I can give you is the Chinese food restaurant at the mall food court. Now look, there are many times when I happen to be walking by, and I have no interest in buying any food whatsoever. But then the restaurant worker hands me this little piece of orange chicken on a toothpick. And then the next thing I know, I’m in line to order just a plate full of food. 

Now, in your business, you’re doing the same thing. You know, for example, let’s just say that you’re an agency, and you might reach out to say something like, “Hey, I noticed you’re registered as an exhibitor at XYZ conference. And I’m happy to share a few ideas for how I’ve helped other people double the number of leads that they received from that exact same conference last year.”

Now, what you’re doing is you’re giving them little bits of relevant insight, information, and education that they’ll find valuable in building their desire to learn more from you. 

For some people, they might buy– boom– right away, but for others, you’ve added value, caught their attention, and you started a relationship.

So as their need arises for themselves or they’re gonna get a referral, you’re going to remain top of mind. 

Now that’s how we turn outbound prospecting into a windfall profit center for the wider market who’s open to it but didn’t think they were ready to buy right now.