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Prospecting and Pre-approach

Prospecting and Pre-approach. Module 5. Sales Leads. Screening Procedures for Qualifying Leads. Qualified Prospects. Prospecting.

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Prospecting and Pre-approach

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  1. Prospecting and Pre-approach Module 5

  2. SalesLeads Screening Procedures for Qualifying Leads Qualified Prospects Prospecting The process of identifying, qualifying, and prioritizing organizations and individuals that have the need for and potential to purchase the salesperson’s market offering of products and services.

  3. Many Leads 100 Leads Few QualifiedProspects Many Qualified Prospects OneCustomer Few Customers 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

  4. 50 Leads OneCustomer 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.

  5. In-Class Exercise – Prospecting

  6. Popular Prospecting Sources & Methods Personal Contact • Observation • Cold Canvassing • Trade Shows • Spotters • Sales Seminars/Educational Forums

  7. Popular Prospecting Sources & Methods Internal Sources • Company Records • Lists and Directories • Advertising Inquiries • Telephone Inquiries • Mail Inquiries • Internet or World Wide Web

  8. Popular Prospecting Sources & Methods External Sources • Referrals • Introductions • Community Contacts (Centers of Influence) • Organizations • Non-competing Salespeople • Visible Accounts

  9. Turning Suspects/Leads IntoBona Fide Prospects • Identify MAD Customers • Money to Buy • Authority to Buy • Desire to Buy

  10. 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

  11. Nature and Importanceof Qualification • The nature of the qualifying task is different for various types of personal selling • Salespeople must be resourceful and should devote time and effort to the search and qualification phase

  12. Prospecting Plans are the Foundation for Effective Prospecting Set Goals Establish daily, weekly and monthly quotas for acquiring new prospects

  13. Prospecting Plans are the Foundation for Effective Prospecting Set Goals Allocate Time Establish a regular daily schedule for conducting prospecting activities.

  14. Prospecting Plans are the Foundation for Effective Prospecting Set Goals Allocate Time Track your results from using the different prospecting methods. Keep Records

  15. 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

  16. Prospecting Plans are the Foundation for Effective Prospecting Set Goals Allocate Time Develop confidence by knowing your products and believing that you offer the best solutions. Keep Records Evaluate Stay Positive

  17. Important Pre-Approach Information Examples include: • Client name and pronunciation • Risk/type of buying situation • Communication style/profile of the buyer (may not be able to assess till several visits) • What is the market position of the company • Major competitor(s) of the company • Industry condition/intelligence • Challenges the organization may be facing • Company characteristics – size, division, decision makers, etc.

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