300 likes | 770 Views
9-2. Learning Objectives. Discuss the importance of developing a prospect baseIdentify and assess important sources of prospectsDescribe criteria for qualifying prospectsExplain common methods of organizing prospect information. 9-3. Learning Objectives. Name some characteristics that are importa
E N D
1. 9-1
2. 9-2 Learning Objectives Discuss the importance of developing a prospect base
Identify and assess important sources of prospects
Describe criteria for qualifying prospects
Explain common methods of organizing prospect information
3. 9-3 Learning Objectives Name some characteristics that are important to learn about customers as individuals and business representatives
Describe the steps in developing a prospecting and sales forecasting plan
4. 9-4 Prospect, Prospecting, and Prospect Base Defined Prospect: a potential customer that meets the qualification criteria established by your company
Prospecting: identifying potential customers
Prospect base: is made up of current customers and potential customers
5. 9-5 Importance of Prospecting Every salesperson must cope with customer attrition
Customers move, firms go out of business, sales lost to competition
Average company may lose 15 to 20% of customer base every year
6. 9-6 Girard’s Ferris Wheel—Supply
7. 9-7 Girard’s Ferris Wheel—Loss
8. 9-8 Prospecting Requires Planning Increase number of people who board the Ferris wheel
Improve the quality of prospects
Shorten sales cycle by determining which prospects are “qualified”
Prospecting plans must be monitored continuously for effectiveness
9. 9-9 Referrals Prospect recommended: by current satisfied customer or one familiar with product or service
Endless chain: ask contact who else could benefit from product
Referral organizations: facilitate networking
Friends, family members, centers of influence: a person may not make decision but has influence on those who do . . . opinion leaders
10. 9-10 Hancock’sLead Generation
11. 9-11 Business Network International Visit the world’s largest referral organization
www.bni.com
12. 9-12 Directories Hundreds of business and industrial directories available
Many major trade associations publish directories
Be sure to use current copy or edition as prospects shift firms; track people and companies
13. 9-13 Thomas Register
14. 9-14 Trade Shows/Publications Trade shows and conventions: your company may have a booth at key trade shows/expositions
Trade publications: each industry has trade publications that sales professionals need to read
Join trade associations: many salespersons join trade associations to gain access to potential buyers
15. 9-15 Telemarketing Telemarketing: the practice of marketing goods and services through telephone contact
To identify buyers and generate contact lists for sales staff
To qualify prospects
To verify sales leadsgenerated by other methods
To conduct follow-ups
16. 9-16 Direct Response andSales Letters Direct response advertising: often features inquiry cards or information requests via mail or telephone
Sales letters: send sales letters to decision makers, then follow up
17. 9-17 Website Websites provide cost-effective way for sales professionals to:
Project personal image
Provide additional information
Generate leads from visitors to site
Present product information
Establish e-mail lists
18. 9-18 Computerized Databases In-house databases: your firm may already have a comprehensive database; sometimes referred to as the “house list” with details on customers, purchase patterns, and so forth
List sources: wide range of precise lists available from variety of sources
See www.infoUSA.com
19. 9-19 Computerized Databases Purchasing databases or lists can be costly; price usually set on cost-per-thousand names
Not all relevant databases are equal; some “pull” better than others
Pull is the percentage of the list resulting in qualified prospects or actual sales
20. 9-20 Cold Calling Simply calling prospects without referrals
New salespeople rely on these as they haven’t built referral base
Must be strategically planned
Prelude to in-person appointment
A way to introduce yourself and your company to a prospect
21. 9-21 Networking Making and profiting from personal connections
Networking guidelines
Meet as many people as you can
Tell them what you do
Do not do business while networking
Offer business card
Edit contacts and conduct follow-ups
22. 9-22 Three Types of Networks
23. 9-23 Educational Seminars Provide opportunity to showcase product without pressuring to buy
Require extensive preparation
Start value-added process
Can attend or present at industry sponsored seminars or offer your own
24. 9-24 Non-Sales Employees Non-sales personnel can be valued source of leads
Prospecting not necessarilyexclusive task of sales force
Non-sales personnel oftenneed training and incentives
25. 9-25 Combination Approaches Salespersons generally rely on combination of prospecting methods
Some methods have higher yield than others
Important to use CRM technology to help maximize efficiency
26. 9-26 Discussion Questions If you were selling ACT! contact management software, how might you develop a prospect list?
If you were a personal investor, how might you develop a prospect list?
If you worked for an international shipping company, how might you develop a prospect list?
27. 9-27 Qualifying Prospects Key time-saving criteria:
Does the prospect need my product?
Can prospect make the buying decision?
Can prospect pay for the purchase?
Will anyone close the sale?
28. 9-28 Organizing Prospect Information Prospect as an individual
Prospect as a business representative
29. 9-29 Prospect Information Harvey Mackay suggests 66-question customer profile.
See it at:
mackay.com
30. 9-30 Prospecting and Sales Forecasting Plans Important to balance time and organize contacts:
Prepare a list of prospects
Forecast potential sales volume for each new account, by product
Carefully plan the sales route to minimize time and cost