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    7 7 Presentation Transcript

    • Prospecting—The Lifeblood of Selling Chapter 7 Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin
    • Chapter 7
    • The 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. Meyer
    • 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
    • Cultivate prospects who pass the MAD test :
        • oney
        • uthority
        • esire
    • Methods 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 horizontal
      • 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 engagements
      Methods of Prospecting
      • 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 enthusiastic
      Methods of Prospecting
      • 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 newsletter
      Methods of Prospecting
    • Observation - prospects are everywhere
        • Always be looking
        • Read the newspaper and selected magazines
        • Trade journals
      • 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 Prospecting
      • 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 Influential
      Methods of Prospecting
      • 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 sales
      Methods of Prospecting
      • 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
      • E-prospecting
      Methods of Prospecting Sales leads http://www.infousa.com/ http://www.business.com/search/rslt_default.asp?r4=t&query=prospecting+sales+leads http://www.zapdata.com/ http://www.bcentral.com/products/cl/default.asp specific search snowboarding trade mag http://www.transworldsnowboarding.com/snow/snowbiz/0,13010,,00.html agricultural equipment http://www.agsites.net/links/agriculturalequipment.html
      • What methods will YOU use?
      Methods of Prospecting