The Sydney City to Surf Run is 14km of running in the most scenic route in the world. Finishing at Bondi Beach, the runners get to dip into the ocean to cool off. The problem is the infamous Heartbreak Hill, about halfway along. It’s a steep gradient that goes on forever and the gorgeous views aren’t enough to distract from your aching legs.
Running coaches teach us to keep your eyes on the road when you’re climbing a hill. You don’t want to see the top of the hill and start panicking. The best approach is to focus on putting one foot in front of the other and before you know it, then hill has been conquered.
When you’re prospecting for new corporate partners it can feel like climbing Heartbreak Hill. Your best approach is to acknowledge there will be tough phases, be prepared for what’s ahead and just keep running.
Here’s what to remember.
Your prospects will say no
Most of them will say no. You can increase your chances of them saying yes by getting a warm introduction. Do you have a connection with someone in the company you’re targeting? Does anyone in your network have a connection to the company? It’s always best to start to increase your chances. Even with a warm introduction though it’s best to expect a 50% rate of hearing no.
No, often doesn’t sound like no
People feel uncomfortable saying no and so they look for softer and nicer ways to say it. Japanese people rarely give you a direct no, as they want to avoid hurting the other person’s feelings. It can make for a frustrating time in business negotiations.
Your corporate prospects are no different. They’ll just use different lines like… the timing isn’t good for me… we already have our partnerships locked in… can you email me something to consider. All of these answers are no. You role is to work out why. Is your value proposition not strong enough? Have you tailored your approach to that prospect or sent them a standard template? Have you clearly defined what’s in it for them to give up their precious time and meet with you?
You may need 2 – 3 attempts to get a response
You’ve had one of the responses above. Think about how you can change your communication to show how it will benefit the prospect you want to meet with. Not a logo on your website- a real benefit that is directly relevant to their plans and goals. When making your initial contact expect that the first one will be ignored. Generally, by the third communication you will get a meeting, or a response. Importantly, it must be tailored specifically to them and demonstrate the benefit for them in meeting with you. Please don’t keep repeating your initial communication. Forwarding the last communication and adding ‘as per my last email..’ is just a poor attempt at a guilt trip. Mix it up, make it personal and a sense of humour (especially on your 3rd go) goes a long way.
Generic emails don’t work
If you’re sending the same generic email out to a couple of hundred prospects, then I’d say your success rate is going to very close to zero. Please don’t do this. Why specifically do you want to meet with that person? What is it about them? What value do you have to offer to them and their company? What made you chose that company? The more personalised your approach the harder it will be for them to press delete or ignore you. This should be easy when you’ve completed your research. Personalising shows you’ve taken to the time and effort to get to know them and what’s important to them. It takes time but will greatly increase your chances.
Try a different channel
How many emails do you receive daily? How many do you delete without even opening? Everybody’s inbox is flooded these days. Consider other channels to make the intro communication – especially if you don’t have a warm introduction. If you haven’t received an email response and you want to stand out from your competitors then try a different channel. Connect via twitter if they’re an active user. Approach them on LinkedIn if your value proposition is strong. Otherwise, send them a small gift and introduction in the mail. Snail mail really grabs people’s attention and show you’ve invested time in them. It also activates the law of reciprocity, where the recipient feels an obligation to respond
Prospecting can be a rollercoaster of emotions, especially when you’re first starting out. You will encounter Heartbreak Hill along the way. Being aware of what to expect will help you keep moving through the time stretch and make it over the finish line.