18 Apr
sales-prospecting-binary-method-qualification-keith-petri

Binary Method to Prospecting Leads with Alex Berman

Alex Berman, currently the Business Development Manager at Vimbly, originally contacted me via oHours in hopes of discussing how to best enter the New York tech scene. After networking his way into Vimbly, a new activity finding service, we reconnected to discuss sales tactics which resulted in the following video discussion.

Alex asked me via email, “When you set a quota for yourself, how do you come up with the order to call leads in? Do you put the easy ones first? The hard ones? People likely to say no?”

If you have additional questions, please do not hesitate to contact me. Click here to download and view the example Excel document we reference in the video (or a larger image).

Using the binary method to prospect and qualify leads is dependent on both industry and product. In our example, we take on the role of a B2C discount network for the hospitality industry. A few of the attributes we reference when determining deal strength were number of locations, warm versus cold introductions, and whether the restaurant location used OpenTable for reservations – using competing or related products shows a propensity to testing new technologies.

To clarify, deal strength is quite different than deal probability. While a leads probability helps quantify the likelihood of it closing, deal strength represents the potential return generated if such a deal comes to fruition.

When initially formalizing your business’s sales process it is necessary to complete A/B testing on your communication methods, talking points, and other strategies. If you are unaware of previous, successful methods, you can reference published case studies.

Once you contact a qualified lead it is necessary to organize your communications in a centralized location for your entire team, if not company, to be able to access. I would highly recommend Pipedrive (affiliate link), but other services offer similar solutions (Nutshell, Salesforce, Highrise, etc.).

Alex and I will review how we both utilize Pipedrive for managing our personal networks in an upcoming video. If you want to be notified when published, just signup for my newsletter – thanks!
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Alex also blogs about marketing and customer development on his blog Following the Rules, check it out for strategies and scripts you can use to learn more about who your startup’s customer’s are.


  • Mark Revill

    Hi guys,

    I’m completely new to the world of Sales so I wanted to thank you for all the helpful info you’ve got going on here on your blog, Keith. This is the first post I’ve read in full, but I’ve already spotted several other post titles that’ve drawn me in! I come from more of a blogging/content creating background and have only just started to properly look at affiliate & other marketing lately, but I’ve no experience in Sales whatsoever – I’d no idea there were such things as proven case studies! It’s been really helpful to hear your discussion on prospecting leads, thanks!

  • Hi Mark,

    Thanks for the note. I appreciate the feedback and hope the posts are able to provide you insight as you begin to explore affiliate and other marketing techniques. Feel free to drop me a note with any specific questions. Always happy to help one-on-one!

    KP

  • Craig B

    Wow, Alex, your parents invented colored latex gloves? I’ve picked up some great tips on gathering contacts, but my main issue’s prioritizing the ones I have managed to gather. This has been really helpful as a springboard to let me try a few new things out, thanks!

  • Haha yeah, before them doctors only had white gloves. Glad this method could help you, Craig!

  • Chris Leyden

    I can sympathize, Alex, I’ve had a few failed endeavors over the last few years, some of them I’ve poured so much into only to have them crap out eventually for one reason or another. I get that the important thing is to learn from any mistakes made, but how do you find the energy to pick yourself up and keep going? Sometimes it’s hard to keep finding the energy to get back out there and try something new.

  • Jamie Paterson

    Nice discussion guys, I’ve found it useful to see a real world example of how you manage this. I’ll definitely be checking out the case studies site you recommended for more. Can’t wait to see how you both utilize Pipedrive.

  • Daniel Muirhead

    I’m another interested in seeing how each of you use Pipedrive as I’ve not quite taken the plunge myself yet. This article’s been helpful to me as someone who hasn’t had that much success in handling their leads so far, hopefully I’ll do better with your tips behind me. Oh, and Alex, awesome blog…I’ll be following along for sure.

  • Thanks for the comment Daniel! I am glad you find the posts informative and look forward to your feedback on the Pipedrive post.

  • Jamie, let me know if you find any of the case studies interesting. I am happy to discuss them further. You might also like the case studies included in this eBook I recently read here: http://leananalyticsbook.com/. Covers topics ranging from pricing to marketing strategies.

  • Hey Chris, thanks for the comment. I guess the main thing is to trust your past judgement. At some point in the past you really wanted to own a business and that’s because you knew it was the best thing for you. 

    Unless your circumstances changed considerably, it’s still probably the best option. 

    Think about the last time you tried to learn something; I bet it didn’t click right away, but once you kept at, eventually you could do the thing that once looked like a mystery, but you kept trying because you were committed to learning it no matter what. This is the same thing.