To know whether chasing an opportunity makes sense, you need to know how much it will cost to sell to that prospect, writes Joel McCabe. "[M]any reps will invest their precious time chasing the wrong opportunities. With every prospect there is a point where the cost of time spent will surpass your payout." You can become more productive by identifying the characteristics of your ideal customer and segmenting your accounts, he writes.
"Before attacking any prospects, you need to understand what type of prospect they are," McCabe adds. "Do they fit one of your Ideal Customer Profiles? If so, which one? If not—cut bait and move on to more fertile prospects."
Learn more at Sales Benchmark Index's Sales Force Effectiveness Blog.