2. Discuss the importance of developing a prospect
base
Identify and assess important sources of prospects
Describe criteria for qualifying prospects
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LEARNING OBJECTIVES
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3. LEARNING OBJECTIVES
Explain common methods of organizing prospect
information
Describe the steps in managing the prospect base
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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
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5. IMPORTANCE OF PROSPECTING
Every salesperson must cope with customer attrition:
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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
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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
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7. SOURCES OF PROSPECTS
Website
Computerized
database
Cold calling
Networking
Educational
seminars
Prospecting by nonsales employees
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Referrals
Centers of influence
Directories
Trade publications
Trade shows and special
events
Telemarketing and e-mail
Direct-response
advertising and sales
letters
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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
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Prospect
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9. LEAD GENERATION
Through different Activities.
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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
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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
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11. TRADE SHOWS/PUBLICATIONS
Trade
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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
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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
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13. DIRECT RESPONSE AND
SALES LETTERS
Direct
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response advertising: often features
inquiry cards or information requests via mail or
telephone
Sales letters: send sales letters
to decision makers,
then follow up
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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
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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
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16. NETWORKING
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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
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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
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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
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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?
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Basic questions:
Does the prospect need my product?
21. COLLECTING AND ORGANIZING
PROSPECT INFORMATION
data can be collected and organized into
Customer Relationship Management (CRM)
Examples of popular applications:
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Sales
Excel
Word
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22. PROSPECTING AND
SALES FORECASTING PLANS
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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
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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
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