Looking at the Long-Run for a ‘Lost’ Prospect

Just because a prospect is not interested in you now doesn’t keep your offer from looking real good for them some time in the future. Look at the case of MeSQL and Amazon Web Services:

“This past April, MemSQL spent more than $27,000 on Amazon virtual servers. That’s $324,000 a year. But for just $120,000, the company could buy all the physical servers it needed for the job — and those servers would last for a good three years.”

The cloud has its advantages but it seems MeSQL doesn't see them last the long-term.

So you see, a prospect isn’t always lost on the first attempt to qualify them. Look to the long-term and see if you can find your competitive advantage there.

In a way, this would need a tremendous amount of patience. That’s not always a good thing if you were still running an urgent campaign and you’d rather have sales now than in a few more years.

But suppose those few years have already passed? Do you think you could see that prospect running back to you because, like the in case of AWS, they found you more cost-effective?

There’s still an equal chance that they may have forgotten you altogether and went to yet another competitor!

How do you keep this from happening and still maintain focus on your current marketing and sales work?

Recognize your long-term advantage – First, you need to make sure you have an advantage in the long run. Suppose you were also likely to be a cheaper deal compared to a competitor like AWS. Have you done the math to prove it?

Don’t pitch it immediately – Long-term advantages do not make good pitches immediately. For one thing, your prospect may not have as much patience for them either.

Keep an eye on them – This is where you give yourself the chance to pitch at a time when they are ready to reconsider your offer. Instead of discarding their information from your database, you can use it to call again (or at least find a way to keep yourself updated on what’s happening).

Give them something in case they change their mind – Its sounds cliché to expect them to but there’s always that chance isn’t there? Leave contact information for them to call back with. It will also make them less likely to look for competitors with similar costs as you because they would think of you first.

Think of it like aging wine. It just starts out as grape juice but give it time, you’ll have something of greater value. Don’t be quick to discard prospects who find you expensive on the short-term. Call them back when it looks like it’s time for them to consider a better long-term solution.

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