Prospecting%20and%20Pre-approach

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Prospecting and Pre-approach

• Module Five

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Improving ProductivityThrough ProspectingAn
Experts Viewpoint
. . . BMC Software developed a comprehensive
prospecting process that treats the generation of
sales leads and qualification of prospects as an
ongoing sales strategy. . . .
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Improving ProductivityThrough ProspectingAn
Experts Viewpoint
. . . . This comprehensive screening system not
only improves the closing ratio of BMCs
salespeople and account managers, but also has a
positive influence on customer satisfaction and
retention by better assuring the right match
between customer needs an company solutions.
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Why Buyers Wont See Salespeople

1. They may have never heard of the salespersons
   firm.
2. They may have no need they just bought the
   product category.
3. The buyer may have their own deadlines on other
   issues.
4. Buyers are constantly getting calls from
   salespeople and do not have the time to see them
   all.
5. Gatekeepers in any organization screen their
   bosses calls and are often curt and even rude.

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Prospecting
The process of identifying, qualifying, and
prioritizing organizations and individuals that
have the need for and potential to purchase the
salespersons market offering of products and
services.
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Prospecting Plans are the Foundation for
Effective Prospecting
Set Goals
Establish daily, weekly and monthly quotas for
acquiring new prospects
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Prospecting Plans are the Foundation for
Effective Prospecting
Set Goals
Allocate Time
Establish a regular daily schedule for conducting
prospecting activities.
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Prospecting Plans are the Foundation for
Effective Prospecting
Set Goals
Allocate Time
Track your results from using the different
prospecting methods.
Keep Records
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Prospecting Plans are the Foundation for
Effective Prospecting
Set Goals
Allocate Time
What is working for you? Compare results and use
the methods that work best for you.
Keep Records
Evaluate
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Prospecting Plans are the Foundation for
Effective Prospecting
Set Goals
Develop confidence by knowing your products and
believing that you offer the best solutions.
Allocate Time
Keep Records
Evaluate
Stay Positive
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Popular Prospecting Sources Methods

• External Sources
• Referrals
• Introductions
• Community Contacts (Centers of Influence)
• Organizations
• Non-competing Salespeople
• Visible Accounts

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Popular Prospecting Sources Methods

• Internal Sources
• Company Records
• Lists and Directories
• Advertising Inquiries
• Telephone Inquiries
• Mail Inquiries
• Internet or World Wide Web

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Popular Prospecting Sources Methods

• Personal Contact
• Observation
• Cold Canvassing
• Trade Shows
• Bird Dogs (Spotters)

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Qualified Prospects . . .

• Can benefit from the sales offering
• Have the financial wherewithal to make the
  purchase
• Play an important role in the purchase decision
  process
• Are eligible to buy based on a fit within the
  selling strategy
• Are reasonably accessible and willing to consider
  the sales offering
• Can be added to the customer base at an
  acceptable level of profitability

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Importance of Effective Prospecting
Suppose it takes 10 leads to generate one
qualified prospect
It will take100 leadsto generateone customer
And suppose it takes 10 qualified prospects to
generate one customer
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Importance of Effective Prospecting
The better the lead generation method, the higher
the proportion of qualified leads.
The more accurate the qualifying process, the
higher the proportion of customers per qualified
lead.
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Gathering Precall InformationThe Prospect
The prospects name and title
Info Needed
Correct spelling and pronunciation can be
gathered by asking the receptionist or secretary
or gatekeeper to verify information.
Source
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Gathering Precall InformationThe Prospect
Is this prospect willing to take risks? Are they
confident with their decision making?
Info Needed
May have to ask the prospect
Source
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Gathering Precall InformationThe Prospect
Is the buyer involved in their community? Do
they belong to clubs or professional
organizations?
Info Needed
Observe club or organizational honors displayed
in the office.
Source
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Gathering Precall InformationThe Prospect
Does the prospect have hobbies or interests they
are proud of?
Info Needed
Observation of office.
Source
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Gathering Precall InformationThe Prospect
What is the prospects personality type? Easy
going? All business?
Info Needed
Observation and experience with buyer.
Source
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Gathering Precall InformationThe Prospect
Where did this prospect grow up? Where were they
educated?
Info Needed
Look for diplomas. Ask.
Source
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Gathering Precall InformationThe Prospects
Organization
What type of business are we dealing with?
Info Needed
Can be gathered from a directory and company web
site.
Source
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Gathering Precall InformationThe Prospects
Organization
To what market does the company sell? Who are its
primary competitors? What does the company make
and sell?
Info Needed
Annual reports and company web site.
Source
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Gathering Precall InformationThe Prospects
Organization
Who and how many vendors does the prospect
presently buy from? How much and how long have
they been purchasing from their supplier(s)? What
challenges is the organization facing?
Info Needed
Source
Salesperson may have to ask for this information.