Not all prospective customers are created equal.
Big news, huh?
Not really. It’s why practices like lead scoring and target persona selection are integral to strategic B2B marketing.
However, those approaches are usually based on our assessment of the prospect’s need for our solution, budgetary authority, urgency or enthusiasm for making a purchase, and so on.
A different approach involves assessing their current knowledge about the situation and their willingness to change their mind.
Let’s consider two extreme cases (over-simplified to make the point).
Andy is a subject matter expert on the market into which you sell and the type of technology you provide. He’s well informed but he’s receptive to new ideas. This makes Andy a great candidate for promoting—and hopefully selling—your solution.
Zack is misinformed about the market, and the technology. He thinks he knows it all but, in practice, he subscribes to industry folklore and obsolete technical dogma. He’s also an expert at shooting holes in new ideas. This makes Zack a poor candidate for promoting or selling your solution; it’s likely a waste of your time.
Each prospect on your business development radar can be ‘scored’ on these two axes: how much they already know, and how open they are to new information.
In the figure below, I’ve created a 3-by-3 matrix to capture nine possible outcomes.
On the ‘how much they already know’ axis, I’ve labeled prospects as misinformed (like Zack), uninformed (they know something, but not much), or expert (like Andy).
On the ‘how open they are to new information’ axis, I’ve labeled them as resistant (like Zack), ambivalent, or receptive (like Andy).
Let’s discuss each of the nine prospect types and how you might prioritize and approach them.
Let’s start with prospects like Zack.
They have entrenched beliefs that are untrue or outdated, and they’re unwilling to listen to new ideas.
Until and unless something—or someone—manages to shift them from resistant to ambivalent or receptive, these prospects are a waste of your time. They’re Lost Causes.
This remains true even if they represent large, potentially lucrative accounts.
Priority: Low. Don’t waste your time here.
Approach: Look for ways to get around them—e.g., by finding a different person to deal with in their organization—but be aware that they might still impede your progress.
The next type of prospect knows little—accurate or otherwise—but is also resistant to new ideas.
They are often aware of their ignorance and want to avoid being called out for it.
Their approach is to bury their heads in the sand—hence, Ostriches—and wait for you to leave them alone.
External forces—such as peers or superiors—can nudge them into action, but they lack the contextual knowledge to appreciate your value proposition or make the case for it within their business.
Priority: Low. Even if they become more receptive to information, they aren’t equipped to do much with it.
Approach: Include them on your mailing list so that they’re aware of your product. If someone else recommends buying from you, they’ll be unlikely to object.
Our third category of prospect is well informed but resistant to new ideas. They’re commonly recognized as a “know-it-all”.
This type of subject matter expert (SME) can be a major obstacle to penetrating an account.
Their organization defers to them for technical advice and decision-making, often oblivious to their intransigence and growing obsolescence.
Blockers can be some of the hardest people to work through or around in an organization because they hold unique technical authority (there’s no one else you can turn to) and they are trusted implicitly (the filter they place on new information is invisible).
Priority: Medium. If you can earn their trust and open them up to hearing new information, however grudgingly, you can open a powerful gateway to their organization (see Gatekeepers, below.)
Approach: Respectfully keep them informed of your progress, especially through case histories coauthored with their technical peers. Let the information soak and don’t expend too much effort until you see a chink in their information armor.
On the middle row of our matrix, we find prospects that are ambivalent to new information. In other words, they will hear you out, but they won’t necessarily do anything with what they’ve heard.
The first prospect type is misinformed but willing to listen. The new information will contradict what they currently believe, so it will take time—and likely more than one piece of supporting evidence—to change their thinking.
Consequently, these prospects are usually Followers. They stick to their preconceived ideas until they see many of their peers accepting and acting on the new information.
Once several others have adopted a new approach, they will cautiously follow.
Priority: Low/Medium. Tailor your approach based on how misinformed and intransigent you think they are, and how connected they are to the wider technical community.
Approach: Keep them informed of your progress. Once you have multiple client testimonials or case histories to share, use FOMO (fear of missing out) tactics to persuade them into following the pack.
Next, we come to Ostriches who have dug their head out of the sand and are observing new information (with one eye).
These prospects aren’t married to incorrect or obsolete ideas, they’re just stuck in neutral.
New ideas sound okay to them, but they lack the context to jump at the value or to make a compelling business case within their organization.
They might give you a shot, but it’s likely to be slow and could require a lot of handholding.
Priority: Medium. If you encounter a Slowpoke but they’re willing to let you do a lot of the heavy lifting for them—for example, helping them develop an internal business case and write the justification document—then it might be worth investing some effort. How much will depend on the potential size and importance of the account.
Approach: Offer to help them secure internal approval for a purchase. If they’re receptive and your team has sufficient bandwidth to take on a high maintenance client—and the account is large enough to justify the effort—then push ahead. If any of those conditions don’t apply, put them on the back burner.
The final square in our middle row is for prospects who are SMEs and ambivalent toward new ideas.
Unlike Blockers, who actively resist information that contradicts their established expertise, these SMEs are at least willing to hear you out.
If you can persuade them that your information is credible and offers sufficient upside to their company, they’re likely to let you pass.
Much like the troll asking riddles to those wishing to cross its bridge, they’re a Gatekeeper to making progress within their organization.
If you can navigate your way past them, you’ll move on to deal with other people—Gatekeepers aren’t the type of expert who will champion your cause (more on those in a moment).
Priority: High. Like Blockers, Gatekeepers occupy a privileged position in their organization. People look to them for technical advice and decisions, and their words carry significant weight. If you can persuade them to endorse your solution and value proposition, you’ll be in a strong position to make a sale.
Approach: Show respect for the SMEs knowledge and position by supplying them with data and facts and asking them to apply their expert judgement. Ask them questions rather than telling them what they should think. Seek approval and endorsement. Be very well prepared for your interactions, since they will be on the lookout for pretenders.
And so, to the top row—prospects who are receptive to new information.
Unsurprisingly, these should be of great interest to your team.
First, let’s discuss the misinformed.
These are prospects who, like the Lost Causes and the Followers, harbor outdated or misguided ideas about your target market, the challenge they’re tackling, or potential solutions to it.
However, they’re willing to listen to new ideas.
This makes them very important prospects because, if you can convince them to give you a shot, they can become influential advocates for your solution.
Converts—prospects who previously denounced your approach but who listen, learn, and come around—make for powerful peer-to-peer marketing.
Priority: High. If you’re able to take advantage of their receptivity and convince them to adjust their beliefs, Converts will both facilitate the sale within their own organization and help you persuade their peers at other organizations to do the same.
Approach: Acknowledge their position, listen to their reasoning, offer convincing, fact-based information, and guide them on how to properly evaluate their alternatives. Persuade, don’t push.
Next up are those without pre-existing knowledge anchors who are willing to listen.
These are fantastic prospects, when you can find them.
With so much information (and misinformation) available to everyone these days, it’s hard to find someone in a decision-making position who lacks an established point of view.
Like a blank canvas waiting to be created upon, these prospects are genuine Opportunities to inform, educate, guide, and persuade.
Help them to understand their situation, objectively compare possible solutions, and make the right buying decision for their company and they’ll recognize you as a trustworthy and valuable supplier.
Priority: Very High. Never pass up this type of prospect (unless the company they represent is a poor fit for your organization).
Approach: As mentioned above, focus on establishing their level of understanding and then supporting them with relevant, helpful information. Guide them toward making a solid purchasing decision.
And finally, in the upper-right corner (always the best spot in a business matrix!), we find subject matter experts who are receptive to new information.
These are the true experts, whose innate curiosity survives despite earning the SME label, and who are constantly in learning mode.
Assuming your solution is truly a fit for their organization, this type of prospect will become your Champion.
They will thoroughly assess what you have to offer, apply their existing knowledge to make an informed evaluation and decision, then leverage their position within the organization to ensure its implementation.
Not every organization has a potential Champion on their team, so you will have to work your way past Blockers and Gatekeepers, create Converts, and look for Opportunities.
But, when you find one, don’t let a Champion get away!
Priority: Maximum. These prospects are the gold standard.
Approach: As with Gatekeepers, respect the Champion’s knowledge and provide them with the data and information they need to make an informed decision. Once you win the trust and support of a Champion, go out of your way to keep them satisfied and on your side. Support them in making the case for your solution and let them guide the implementation. They know their organization better than you do—and it will listen to them in return.
Here is the completed prospect matrix:
Whenever you encounter a prospect that seems promising based on business need, budget, and decision-making authority (or whatever other scoring metrics your company uses), ask yourself:
How much do they already know about this market, situation, and type of solution?
And, how open are they to new information?
Based on those assessments, identify where they sit in the 3x3 matrix and prioritize and approach them accordingly.
In this way, you’ll avoid wasting time on Slowpokes, Ostriches, and Lost Causes that might better be spent on Converts, Gatekeepers, Opportunities, and—best of all—Champions.
Image credit: Adobe Stock
