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Mohsin Khawaja

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What Matters Most? Quantity or Quality of Opportunities

Recently I have been reading a blog post about this and I would like to argue how this opposing view points

If you had to choose between quality vs volume, which one would you choose? Recently I have been reading a blog post about this and I would like to argue how this opposing view points would approach Lead Generation or Appointments.

Lead Generation:
Quality: "I only want leads that are going to convert within the next 30 to 90 days." Volume: "As long as they are qualified, I'll take leads that that will convert now or a year from now."  

Appointments:
Quality: "I only attend appointments with prospects that I've diligently pre-qualified."

Volume:
"There is no such thing as a bad appointment. I get in front of as many prospects as I can." I'm a big believer in the concept of both... in other words I like to say that "We need to work on ‘Quality Volume.' " If I have to lean one way or the other, I lean toward volume!

Lead Generation - As long as the leads are qualified, meaning... they have an interest and a need... I'll start working those leads whether they are going to convert now, or a year from now. Appointments- I want to get in front of as many prospects as possible. If they are willing to meet with me, then they most likely have some level of interest. In both cases, I always have a chance to close more deals when  talking to more people than not talking to them at all.

Success Principle 1:
Train yourself to work at maximum volume. The bigger your pipeline, the bigger your results! Sales people must have an ability to filter. That means working through a lot of potential business and prioritizing opportunities that will close now along with deals that will close in the future. A strong pipeline is going to payoff now and it pays again later. Need Them Either Way - If a deal closes now or in the future, I need that deal either way. The advantage of having lots of prospects is that I don't get desperate with the ones that legitimately need more time. I have plenty of other potential deals to push through now, and I am building a list of prospects who will buy in the future. Sometimes They Come Back - When I'm working on volume, I will close a lot of deals in the process. That's ok... because sometimes they come back. We all have prospects that call out of the blue and unexpectedly say, "Can you please bring the paperwork... we are ready to sign!" The more people I have met with, the more potential surprise call backs. New Products and Offers - There will be times during the year when your company comes up with a new product or offer. Sales reps who have the biggest pipeline have a strong foundation to start from. It is much better to call on prospects you already know and say, "Guess what... I have the solution you were looking for!"

Success Principle 2:
The more prospects you face, the better you get! Volume Develops Quality- In most cases, a sales person's closing ratio is the same... whether you have 100 prospects or 50 prospects. If you are closing at 30 percent the difference is staggering. Think of it this way. If a sales person can't get in front of prospects, that is a bad place to be. On the other hand, if a sales person can get in front of a lot of people, then we have a foundation to work from. I would much rather work on improving the quality of my work rather than figuring out how to build up quantity. The best way to improve on quality is to get more practice. The more prospects you face, the better you get! Volume Builds Momentum - Find a sales team who has a lot of activity and you'll find a team with the power to build tremendous momentum. This team has great confidence, high morale, and puts up huge numbers!   Always remember, your pipeline determines your success. The next time you self-evaluate, ask yourself three questions. How strong is my pipeline? How many leads do I have in my database? How many daily scheduled actions do I have in my CRM?

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Mohsin Khawaja is a Internet Marketing Manager at Intellectual Works.He occasionally writes on various IT topics along with various SEO, SEM and Internet Marketing articles.
http://www.linkedin.com/in/khmohsin