Myth Busting: Summer Prospecting

As we enter into the dog days of summer, many of us will take time off to recharge and re-bond with friends and family prior to putting on a full court press for Q4.  Logic suggests that many of your clients and prospects will put their businesses on auto-pilot and will do the same thing.  So, as is somewhat traditional amongst salespeople, advisors, consultants (or for that matter anyone who sells anything), cold-calling and business development efforts slow down to a trickle or are intentionally and completely stopped during these time periods, as the common belief is that “No one is working,” and there is, therefore, no business to be had. In the text that follows I point out the flaws of this ever so conventional (and wrong) thinking.

The simple truth of the matter is that many clients and prospects are working right now, have already vacationed, or if away, are available via phone or email, and therefore can be reached.  Yet, most salespeople believe that these slow times, which occur in the summer months and again around the winter holidays, present periods of time best spent catching-up on mindless paperwork, on business plan development or on vacationing themselves.  Rest assured, most of your competitors think this way.

An important principle to understand is that there is no better time to be selling than when your competition is on vacation. If you really want to stand-out in today’s marketplace, I would suggest you capitalize on the non-competitive sales environments which present themselves throughout the year and INCREASE your marketing and prospecting efforts during these periods vs. shutting down the machine.  “Going against the grain,” or adopting a “Move away from the mass market” mentality, has historically produced tremendous results for sales people willing to put on their contrarian hat.  The best sales people not only use the summer months to set-up a tremendous fourth Quarter, but with enough effort,  a great late summer push can also pave the way for a tremendously successful Q1 as well.

To oversimplify matters, is it more difficult to secure a meeting with a prospect when you are among 3-4 other, fast charging sales people, or when you are among the few working and have little competition?  This concept can be placed in the same category as the best practice which suggests that you call your prospect at 7 AM to capitalize on the “Calm before the storm” opportunities to engage said prospect in a meaningful dialogue.

By no means am I suggesting that you stop vacationing during slow times.  I am, however, encouraging each of you to look at the unique business development opportunities that the last two weeks of August (and the holidays) presents.  The trick is not to look at these slow periods as reasons to stop doing business, but rather, as opportunities to expand business. In today’s tough market clients are looking for their advisors to provid them with an edge. They’re looking for someone willing to hustle when others are not…Remember that if your not talking to your customers and prospects, someone else certainly will be. Good luck and good selling.