Create a Prospecting Action Plan
In order to focus prospecting activity, we recommend that you create a prospecting action plan on a monthly basis and review it with management. This should compliment your service schedule and include goals for each meeting. Prospecting needs to be scheduled. Time blocking is TRANSFORMATIONAL for BD reps. Make sure you are carving out the time necessary to create and update your target list, and most importantly, prospect effectively and with intention.
The Philosophy
Most BD reps would agree that prospecting is one of their key responsibilities, but few take the time to create a plan. We prioritize planning at ARS because a solid plan can lead to great accounts and excellent time and account management.
We believe that effective prospecting means targeting first, and executing second.
A Prospecting Action Plan will help focus your prospecting activity and create a log of actions and impacts. The most effective Prospecting Action Plans are drafted on a monthly basis by each rep, reviewed by management, and then executed.
In order to focus prospecting activity, we recommend that you create a prospecting action plan on a monthly basis and review it with management. This should compliment your service schedule and include goals for each meeting. Prospecting needs to be scheduled. Time blocking is TRANSFORMATIONAL for BD reps. Make sure you are carving out the time necessary to create and update your target list, and most importantly, prospect effectively and with intention.
The Philosophy
Most BD reps would agree that prospecting is one of their key responsibilities, but few take the time to create a plan. We prioritize planning at ARS because a solid plan can lead to great accounts and excellent time and account management.
We believe that effective prospecting means targeting first, and executing second.
A Prospecting Action Plan will help focus your prospecting activity and create a log of actions and impacts. The most effective Prospecting Action Plans are drafted on a monthly basis by each rep, reviewed by management, and then executed.
The Mechanics
Targeting: Create an Ideal Prospect List
The first step for any Prospecting Action Plan is defining the ideal target and creating an ideal prospect list. Please answer the following questions:
Once you’ve identified your ideal targets, please answer the following questions:
Business Development Outreach Activity | Service Schedules for new and existing accounts
In addition to creating a comprehensive account management/service schedule with goals for your existing accounts, it’s important that you do the same for the accounts you are prospecting. List individual behaviors for success and set specific and measurable goals for each target. Please upload your weekly/monthly services schedules to your folder on the Google Drive to stay accountable.
BD Prospection Action Plan Goals:
Below are examples of the types of goals to include in action plan. Actual plans should contain less than 10 items to keep them meaningful and manageable.
Targets
Identify specific sources for targeting and specify the follow-up plan (email, phone scripts, etc.)
Calls & Emails
Targeting: Create an Ideal Prospect List
The first step for any Prospecting Action Plan is defining the ideal target and creating an ideal prospect list. Please answer the following questions:
- Who are your best accounts currently (not necessarily the biggest, but the best)?
- Where did you find them?
- Is there an industry in which you have experience that might make it a good target industry?
- What is your ideal company size?
- Who at the organization is the decision-maker for our services?
Once you’ve identified your ideal targets, please answer the following questions:
- Who are your prospects’ clients/patients?
- Why do their clients utilize their services?
- What industry events (such as trade shows) do they attend?
- What type of social functions are your clients most active in?
- What’s your plan to convert that prospect into a referring account?
- How will you gain access (cold call, networking, etc.)?
- Once you have access, what steps do you need to take?
- Does this prospect already refer patients to rehab? If so, where?
- Do they already see the value in referring patients to rehab?
- Do we need to teach, educate, and sell them on why they should refer, how to refer, what to look for?
- Why should they change their process?
- What challenges do we have to overcome?
- Have we gained their trust?
- Do we need to build a stronger relationship?
- How much time do we need to invest to convert them into a referring account?
- Once the account has started to refer, what will we need to do to maintain their business? How many meetings/calls per month? How many in-services each quarter?
Business Development Outreach Activity | Service Schedules for new and existing accounts
In addition to creating a comprehensive account management/service schedule with goals for your existing accounts, it’s important that you do the same for the accounts you are prospecting. List individual behaviors for success and set specific and measurable goals for each target. Please upload your weekly/monthly services schedules to your folder on the Google Drive to stay accountable.
BD Prospection Action Plan Goals:
Below are examples of the types of goals to include in action plan. Actual plans should contain less than 10 items to keep them meaningful and manageable.
Targets
Identify specific sources for targeting and specify the follow-up plan (email, phone scripts, etc.)
Calls & Emails
- # of calls and emails
- # of contacts you will reach out to and ask for referrals
- # of challenging phone calls to make each day
- Amount of time you will set aside each week to organize targets for calling
- # of new prospecting meetings to hold
- # of meetings to schedule each week with existing prospects in service schedule
- # of meetings/in-services to hold with referral sources
- Set a goal to contact a number of potential referral partners to request meetings
- Set a number of referrals to give
- Set a number of referrals to request/receive
- Set a number of networking events or meetings you will attend
- Set a goal for how many new online community contacts you will make (using LinkedIn and other media)
- Set a number of people to send an item of interest to (links to blogs, resources, articles, etc.)
- Set a number of events or meetings you will invite a prospect or partner to attend with you
- Plan your day and schedule activities at a set time each morning or afternoon
- Organize targets and wrap up clerical matters at a set time each afternoon
- Document success stories and lessons learned on a regular basis for BD meetings, 1:1s with management and your Quarterly Goals Report
- Implement new techniques regularly
- Identify magazines, blogs, and other publications in your target market and set aside time each week to read them.