HC BUSN 134 - Prospecting—The Lifeblood of Selling

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Chapter 7Slide 2The Concept of ProspectingQualifying the ProspectCultivate prospects who pass the MAD test:Methods of ProspectingCenters of InfluencePlanned Cold CallingDirect mail or faxObservation - prospects are everywhereJoining Civic GroupsNetworking - active cooperation, i.e. ‘tips’Company Initiated ProspectingTrade ShowsE-prospectingWhat methods will YOU use?7-1Prospecting—The Prospecting—The Lifeblood of SellingLifeblood of SellingProspecting—The Prospecting—The Lifeblood of SellingLifeblood of SellingChapterChapter77ChapterChapter77Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irw in7-2ChapterChapter77ChapterChapter777-3The Concept of Prospecting•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“I’d rather be a master prospector than be a wizard of speech and have no one to tell my story to.” -Paul J. Meyer7-4Qualifying 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 information7-5Cultivate prospects who pass the MAD test:oneyuthorityesire7-6Methods of Prospecting•Why we lose customers•Customer’s 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 don’t give referrals•Referrals tend to be horizontal7-7• Centers of Influence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 engagementsMethods of Prospecting7-8• Planned Cold CallingAt least one out of seven will be receptiveTreat cold calls as a supplement. Don’t neglect other techniquesPreplan cold callsLimit waiting - 15 minutes is a good gauge!Remain enthusiasticMethods of Prospecting7-9• Direct mail or fax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 newsletterMethods of Prospecting7-10Observation - prospects are everywhereAlways be lookingRead the newspaper and selected magazinesTrade journals7-11• Joining Civic Groups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 Methods of Prospecting7-12•Networking - active cooperation, i.e. ‘tips’There are formal groups that you can joinSharing information makes good sense•Using Directories - Goldmines if used correctly•Moody’s Industrial Manual•Poor’s Register of Directors and Executives•The Dun and Bradstreet Reference Book•The Thomas Register of American Manufacturers•Contacts InfluentialMethods of Prospecting7-13•Company Initiated 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 salesMethods of Prospecting7-14• Trade ShowsMethods 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 information7-15• E-prospectingMethods of ProspectingSales leadshttp://www.infousa.com/http://www.business.com/search/rslt_default.asp?r4=t&query=prospecting+sales+leadshttp://www.zapdata.com/http://www.bcentral.com/products/cl/default.asp specific searchsnowboarding trade maghttp://www.transworldsnowboarding.com/snow/snowbiz/0,13010,,00.htmlagricultural equipmenthttp://www.agsites.net/links/agriculturalequipment.html\7-16• What methods will YOU use?Methods of


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