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Chapter 7

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  • 1. Ch. 7 Prospecting—The Lifeblood of Selling Chapter 7 Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin
  • 2. Exhibit 7-1: The Selling Process Has 10 Important Steps 10. Follow-up 9. Close 8. Trial close 7. Meet objections 6. Determine objections 5. Trial close 4. Presentation 3. Approach 2. Preapproach/planning 1. Prospecting The sales process is a sequential series of actions
  • 3. Some Prospect, Some Do Not
    • Many salespeople prospect, both those selling business-to-business and those selling to consumers
    • Examples are:
  • 4. Compensation for the Salesperson who Prospects is Often:
    • Based upon 100% commission – if you do not sell, you do not earn
  • 5. Prospecting–The Lifeblood of Selling
    • Qualified prospect is MAD
      • M
      • A
      • D
  • 6. Exhibit 7-2: Before the Sales Presentation
  • 7. Steps Before the Sales Presentation
    • Prospecting > appointment > planning
    • Rule of thumb
      • 40%
      • 20%
      • 40%
  • 8. Prospecting–The Lifeblood of Selling
    • Prospect –
    • Prospecting –
    • Lead –
  • 9. Where to Find Prospects
    • Persons selling different services and goods might not use the same sources
  • 10. Planning a Prospecting Strategy
    • Prospecting requires a strategy that can be constantly improved
  • 11. Prospecting Methods
    • E-prospecting on the Web
      • Individuals
      • Organizations
    • Cold canvassing
    • Endless chain – customer referral
    • Orphaned customers
    • Sales lead clubs
  • 12. Prospecting Methods, cont…
    • Prospect lists
    • Become an expert – get published
    • Public exhibitions and demonstrations
    • Center of influence
    • Direct mail
    • Telephone and telemarketing
    • Observation
    • Networking
  • 13. Prospecting Guidelines
    • Three criteria are:
      • Customize
      • Concentrate
    • Always keep knocking on prospect’s and customer’s door to help them
  • 14. Exhibit 7-7: Components of the Prospect Pool
  • 15. The Referral Cycle
    • Obtaining referrals is a continuous process without beginning or end
    • Referral cycle – when and how to ask for referrals
    • The parallel referral sale
      • Sell
      • Obtain
  • 16. The Referral Cycle, cont…
    • The secret is to ask correctly during referral cycle
      • The
      • The
      • Product
      • Service and follow-up contact phase: Customer service
  • 17. Don’t Mistreat the Referral
    • Mistreatment can have a ripple effect
    • The mistreated referral tells your customer – you may lose both!
    • Remember to follow the Golden Rule
  • 18. Treat the Referral Like a Customer
    • Once you have sold the referral, and gotten more referrals, ask the new customer to contact the referring customer about her experience with the salesperson
    • Now you have two customers giving referrals
    • This can create an endless chain of referrals quickly filling your prospect pool with only customers and referrals
  • 19. Call Reluctance Costs You Money!
    • Call reluctance refers to not wanting to contact a prospect or customer
    • For many salespeople, owning up to call reluctance is the most difficult part of combating it
  • 20. The 12 Faces of Call Reluctance, cont.. 1. Yielder - Fears intruding on others or being pushy 2. Overpreparer - Overanalyzes, underacts 3. Emotionally unemancipated - Fears loss of family approval, resists mixing business and family 4. Separationist - Fears loss of friends, resists prospecting among personal friends 5. Hyper-pro - Obsessed with image, fears being humiliated 6. Role rejecter - Ashamed to be in sales
  • 21. The 12 Faces of Call Reluctance, cont… 7. Socially self-conscious - Fears intruding on others or being pushy. Intimidated by upmarket customers. 8. Doomsayer - Worries, won’t take risks 9. Telephobic - Fears using the telephone for prospecting or selling 10. Stage fright - Fears group presentations 11. Referral aversions - Fears disturbing business or client relationships 12. Oppositional reflex - Rebuffs attempts to be coached
  • 22. The 12 Faces of Call Reluctance: How to Conquer the Fear
  • 23. Obtaining the Sales Interview
    • Key factor in selling process is obtaining a sales interview
    • The benefits of appointment making
      • Personally making the appointment