Prospecting

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Chapter7

• ProspectingThe Lifeblood of Selling

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Chapter7
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Building Relationships through the Sales Process
1. Prospecting
The sales process is a sequential series of
actions
2. Preapproach - planning
3. Approach
4. Presentation
5. Trial close
6. Determine objections
7. Meet objections
8. Trial close
9. Close
10. Follow-up
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Ten Important Steps in the Customer Relationship
Selling Process
1. Prospecting. Locating and qualifying
prospects. 2. Preapproach. Obtaining
interview. Planning determining sales call
objective, developing customer profile, customer
benefit program, and sales presentation
strategies. 3. Approach. Meeting prospect and
beginning customized sales presentation. 4.
Presentation. Further uncovering needs relating
product benefits to needs using demonstration,
dramatization, visuals, and proof statements.
5. Trial close. Asking prospects opinions
during and after presentation. 6. Objections.
Uncovering objections. 7. Meet objections.
Satisfactorily answering objections. 8. Trial
close. Asking prospects opinion after overcoming
each objection and immediately before the close.
9. Close. Bringing prospect to the logical
conclusion to buy. 10. Follow-up and service.
Serving customer after the sale.
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The Concept of Prospecting
Id rather be a master prospector than be a
wizard of speech and have no one to tell my story
to. -Paul J. Meyer

• A salesperson without prospects is out of
  business
• A salesperson without prospects can no more close
  a sale than a surgeon without a patient can
  operate
• Prospects are everywhere - develop ways to find
  them

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Qualifying the Prospect

• Moving from a lead, to a qualified prospect
• Lead - is just a name
• Prospect - researched for money, and authority,
  and desire.
• Qualified prospect - evaluated prospect along
  with personal information

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Cultivate prospects who pass the MAD test

• oney
• uthority
• esire

MAD
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Methods of Prospecting

• Why we lose customers
• Customers company goes out of business
• Competitor takes your customer
• Customer moves or dies
• Merger or downsizing
• Customer-salesperson relationship deteriorates
• Referrals
• Have person make the initial contact for you
• Learn how to ask for a referral!
• Why people dont give referrals
• Referrals tend to be horizontal

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Centers of Influence
Methods of Prospecting

• Believes in you and what you are selling
• Is influential with a significant number of
  people
• Is willing to give you names on a regular basis
• The names given to you are at least partially
  qualified prospects
• Group Prospecting
• Follow up with interested prospects
• Trade shows, speaking engagements

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Planned Cold Calling
Methods of Prospecting

• At least one out of seven will be receptive
• Treat cold calls as a supplement. Dont neglect
  other techniques
• Preplan cold calls
• Limit waiting - 15 minutes is a good gauge!
• Remain enthusiastic

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Direct mail or fax
Methods of Prospecting

• Prospects do read well-targeted direct mail
• Mailing is only as good as the list
• Sources of lists to consider
• Membership rosters
• City directories
• Yellow pages
• White pages
• Religious groups
• Past customers
• Create your own newsletter

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Observation - prospects are everywhere

• Always be looking
• Read the newspaper and selected magazines
• Trade journals

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Joining Civic Groups
Methods of Prospecting

• Carefully select the groups you join
• Work for positive visibility
• Set contact goals for each organization meeting
• Maintain an information file on the contacts made
  in each organization
• Use remeet goals to help you develop closer
  relationships with people
• Use active listening to learn more about the
  financial goals and needs of others
• Look for appropriate opportunities for further
  business-oriented discussions

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Networking - active cooperation, i.e. tips
Methods of Prospecting

• There are formal groups that you can join
• Sharing information makes good sense
• Using Directories - Goldmines if used correctly
• Moodys Industrial Manual
• Poors Register of Directors and Executives
• The Dun and Bradstreet Reference Book
• The Thomas Register of American Manufacturers
• Contacts Influential

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Company Initiated Prospecting
Methods of Prospecting

• Telemarketing Activities
• Advertising Response
• Direct Mail
• Newspaper
• Past Customers
• Go over list of inactive accounts
• Develop and create a Web site
• Streamline the sales process
• Affiliate program marketing
• Turn web leads into online sales

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Trade Shows
Methods of Prospecting

• Selecting the right trade show is critical
• On the spot sale versus lead generation
• Pre-show training and post-show follow-up
• Display planning to get high visibility
• Staffing the booth to handle information

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E-prospecting
Methods of Prospecting
Sales leads http//www.infousa.com/ http//www.bus
iness.com/search/rslt_default.asp?r4tqueryprosp
ectingsalesleads http//www.zapdata.com/ snowbo
arding trade magazine http//www.transworldsnowboa
rding.com/snow/snowbiz/0,13010,,00.html
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What methods will YOU use?
Methods of Prospecting