Prospecting Skills

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Prospecting Skills

  1. 1. Rajesh gabriel Content PROSPECTING SKILLS
  2. 2. Discuss the importance of developing a prospect base  Identify and assess important sources of prospects  Describe criteria for qualifying prospects  l Rajesh gabriel Content LEARNING OBJECTIVES 1
  3. 3. LEARNING OBJECTIVES Explain common methods of organizing prospect information  Describe the steps in managing the prospect base  Rajesh gabriel Content 2
  4. 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  Rajesh gabriel Content 3
  5. 5. IMPORTANCE OF PROSPECTING Every salesperson must cope with customer attrition: Rajesh gabriel Content  Customer may have a one-time need  Customer may move outside the salesperson’s territory  Firm may go out of business or merge  Sales may be lost to the competition  4
  6. 6. PROSPECTING REQUIRES PLANNING Increase number of people visit by increasing cold calls  Improve the quality of prospects  Shorten sales cycle by determining which prospects are “qualified”  Prospecting plans must be monitored continuously for effectiveness  Rajesh gabriel Content 5
  7. 7. SOURCES OF PROSPECTS Website  Computerized database  Cold calling  Networking  Educational seminars  Prospecting by nonsales employees  Rajesh gabriel Content Referrals  Centers of influence  Directories  Trade publications  Trade shows and special events  Telemarketing and e-mail  Direct-response advertising and sales letters  6
  8. 8. REFERRALS 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 who may have influence on opinion leaders Rajesh gabriel Content  Prospect 7
  9. 9. LEAD GENERATION Through different Activities.     Rajesh gabriel Content  Issue of hand outs distribution in the Amusement park/bus terminus school/colleges/trade centre, Malls exhibitions halls, market area ,Field activity Cold calls Referrals (referred leads) Regular Field visits Posture Activity 8
  10. 10. 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  Rajesh gabriel Content 9
  11. 11. TRADE SHOWS/PUBLICATIONS  Trade Rajesh gabriel Content 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 10
  12. 12. 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 leads generated by other methods  To conduct follow-ups  Rajesh gabriel Content 11
  13. 13. DIRECT RESPONSE AND SALES LETTERS  Direct Rajesh gabriel Content response advertising: often features inquiry cards or information requests via mail or telephone  Sales letters: send sales letters to decision makers, then follow up 12
  14. 14. WEBSITE  Websites provide a 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 Rajesh gabriel Content  13
  15. 15. COLD CALLING Simply calling prospects without referrals New salespeople rely on these as they haven’t built a referral base  Must be strategically planned  Prelude to in-person appointment  A way to introduce yourself and your company to a prospect  14 Rajesh gabriel Content 
  16. 16. NETWORKING Rajesh gabriel Content 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 15
  17. 17. THREE TYPES OF NETWORKS Rajesh gabriel Content 16
  18. 18. NON-SALES EMPLOYEES Non-sales personnel can be valued source of leads  Prospecting not necessarily exclusive task of sales force  Non-sales personnel often need training and incentives Rajesh gabriel Content  17
  19. 19. COMBINATION APPROACHES Salespersons generally rely on combination of prospecting methods  Some methods have higher yield than others  Important to use Customer Relation Managing technology to help maximize efficiency Rajesh gabriel Content  18
  20. 20. QUALIFYING PROSPECTS  Does the prospect have the authority to buy my product?  Does the prospect have the financial resources to buy my product?  Does the prospect have the willingness to buy my product? 19 Rajesh gabriel Content Basic questions:  Does the prospect need my product?
  21. 21. COLLECTING AND ORGANIZING PROSPECT INFORMATION data can be collected and organized into Customer Relationship Management (CRM)  Examples of popular applications:   Rajesh gabriel Content  Sales Excel Word 20
  22. 22. PROSPECTING AND SALES FORECASTING PLANS Rajesh gabriel Content 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  21
  23. 23. KEY CONCEPT DISCUSSION QUESTIONS  Discuss the importance of developing a prospect base  Identify and assess important sources of prospects  Describe criteria for qualifying prospects  Explain common methods of collecting and organizing prospect information  Describe the steps in managing the prospect base 9-23 Rajesh gabriel Content

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