Chapter 7 Topics

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Chapter 7 Topics

• Why is prospecting important for effective
  selling?
  
• Are all sales leads good prospects? What are the
  characteristics of a qualified prospect?
  
• How can prospects be identified?
• How can the organizations promotional program be
  used in prospecting?
  
• How can an effective lead qualification and
  management system aid a salesperson?
  
• How can a salespersonovercome a reluctance to
  prospect?

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Am I a Prospect?
You need to answer 5 questions

• Do I have a want or a need that the purchase of
  the salesperson's product can satisfy?
  
• Do I have the ability to pay?
• Do I have the authority to buy?
• Can I be approached favorably?
• Am I eligible to buy?

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Steps in the Selling Process
Prospecting
.................................Lead
Collecting precall information
Making the approach
Discovering needs
...................Prospect
Making the presentation
Responding to objections
Obtaining commitment
........Customer
Follow up
Exhibit 7.1
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Sources of Leads Endless-Chain
Exhibit 7.3
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Sources of Leads
Assume you are prospecting for a job when you
graduate. Which of these methods would be most
useful?

• Lists and Directories
• Canvassing
• Spotters
• Telemarketing
• Sales letters

• Satisfied customers
• Endless-chain
• Center-of-influence
• Networking
• Promotional activities

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Some Sources of Leads on the Web

• Annual Report Gallery
• www.reportgallery.com
• The Big Yellow Pages
• www.bigyellow.com
• ComFind Internet Business Directory
• www.comfind.com
• Hoovers Online
• www.hoovers.com
• The Inc. 500
• www.inc.com/500
• Moodys Industrial Directory
• www.moodys.com
• Thomas Register of American Manufacturers
• www.thomasregister.com
• TrackAmerica
• www.trackamerica.com

From Exhibit 7.4
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North America Industry Classification System
(NAICS)

• NAICS provides common industry definitions for
  Canada, Mexico, and the U.S. which facilitate the
  measurement of economic activity in the three
  member countries of NAFTA.
• NAICS is replacing the Standard Industrial
  Classification System, a system which had been in
  place for more than 50 years.
  
• NAICS is consistent with the International
  Standard Industrial Classification of All
  Economic Activities, published by the United
  Nations, to facilitate measurement of global
  economic activity.

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North America Industry Classification System
(NAICS)
2 DigitIndustry Subsector
3 DigitIndustry Group
4 DigitIndustry
5 Digit U.S.National Industry
Broadcasting andtelecommunications
Radio and televisionbroadcasting
Wire telecommunications carriers
Paging
Cellular and other wireless telecommunication
Cable networks andprogram distribution
Wireless telecommunication carriers, except
satellite paging
Telecommunications
Telecommunications resellers
Satellite telecommunications
Other telecommunications
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Thinking It Through
Assume your company sends you, via email, the
names and addresses of leads who registered with
your firms web site that day. All of the leads
sent are in your territory and your firm expects
you to quickly follow-up with these leads.
However, your sales manager suggests that such
leads are a waste of time. S/he instructs you to
make cold calls instead, saying Cold calling got
me where I am today. It will for you too!
What would you say in response?
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Any questions about the terminology?

• Banner advertising
• Bird dog
• Blitz
• Bounce-back card
• Buying community
• Center-of-influence method
• Cold call
• Cold canvass method
• Databases
• Endless-chain method
• e-selling
• Exclusive sales territories
• House accounts
• Inbound telemarketing
• Lead
• Lead qualification system
• Lead management system

• Networking
• North America Industry Classification System
  (NAICS)
  
• Outbound telemarketing
• Postcard pack
• Prequalification
• Prospect
• Prospecting
• Qualifying a lead
• Referred lead
• Search engines
• Selling deeper
• Standard Industrial Classification (SIC)
• Spam
• Spotter
• Systems integrator

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