Prospect Scorecard & Buyer Persona

prospect scorecard 1The Prospect Scorecard offers salespeople and businesses a simple and easy way to qualify, track and rank their best prospects. Salespeople, sales managers, entrepreneurs, sole proprietors, insurance agents, realtors and other business people often refer to prospects in vague terms such as: new, warm, hot, cold, likely, qualified, etc. These terms do little to better understand a sales pipeline or convey likelihood of purchase to other members of the team. The Prospect Scorecard resolves this issue, simply, quickly and easily for any salesperson or business. Benefits include:

  • Helps you create ideal attributes to form a buyer persona
  • Creates a simple numeric system to leverage your buyer persona
  • Assigns numeric values to rank your best prospects
  • Creates a simple qualification acronym to determine likelihood to close
  • Ranks your prospects alphabetically, by Prospect Score and Quality Score
  • Color codes prospects into Green, Yellow and Red categories, quickly elucidating prospect status

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prospect scorecard 2The Scorecard & Buyer Persona – What does your perfect client look like? Create a Prospect Scorecard and Buyer Persona to quantify your approach to pipeline building. Some attributes of your ideal client might include revenue, growth rate, client type (business or consumer) and market niche. For example, are you targeting companies with $5m to $10m in revenue? Are your best prospects fast-growing firms (Inc. 500 list)? Are you selling to consumers?

A buyer persona is a composite representation of your ideal customer based upon existing client profiles, preferred prospect profiles and market research. The profile should include demographics, personal and business attributes, and behaviors that are typical of your ideal prospect.  Your buyer personas should be a one or two paragraph written description of your ideal buyer. For example:

  • “Jerry Jones is a CEO, CFO, COO or Risk Manager who works at a distribution company between $15 million and $150 million dollars. He has at least a decade of experience and has been in his current position at least one year. His goal is to improve efficiency and refine processes within his company, which will contribute to bottom line savings. He is a consensus builder, but knows how to drive change, and has the credibility within his organization to implement a new initiative or allocate budget.”

  • “Gina Martinez is a CHRO, Vice President or Direct of Human Resources, with a manufacturer, distributor, technology company or restaurant group. Revenues can range from $5 million to $150 million dollars depending on industry. She has at least a decade of experience and has been in her current position at least one year. Her goal is to improve employee morale, increase wellness programs, ensure compliance and maintain competitive benefits programs. She is open to change, and will consider innovative approaches to this including captives, gap programs, leading edge tools and PBM alternatives.”

Creating an insurance agency buyer persona can help improve producer prospecting and closing, resulting in a leaner pipeline and improved close ratio. And they are also valuable when agencies outsource their appointment setting initiatives. If your agency has not yet created buyer personas, or if you haven’t updated them for a few years, it’s time for a review.

 

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