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 InfluenceBelieves in you and what you are sellingIs influential with a significant number of peopleIs willing to give you names on a regular basisThe names given to you are at least partially qualified prospects•Group ProspectingFollow up with interested prospectsTrade shows, speaking engagementsMethods of Prospecting7-8• Planned Cold CallingAt least one out of seven will be receptiveTreat cold calls as a supplement. Don’t neglect other techniquesPreplan cold callsLimit waiting - 15 minutes is a good gauge!Remain enthusiasticMethods of Prospecting7-9• Direct mail or faxProspects do read well-targeted direct mailMailing is only as good as the listSources of lists to consider:–Membership rosters–City directories–Yellow pages–White pages–Religious groups–Past customersCreate your own newsletterMethods of Prospecting7-10Observation - prospects are everywhereAlways be lookingRead the newspaper and selected magazinesTrade journals7-11• Joining Civic GroupsCarefully select the groups you joinWork for positive visibilitySet contact goals for each organization meetingMaintain an information file on the contacts made in each organizationUse “remeet” goals to help you develop closer relationships with peopleUse active listening to learn more about the financial goals and needs of othersLook 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 joinSharing 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 ProspectingTelemarketing ActivitiesAdvertising 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
View Full Document