5 StrategicProspecting and Preparing for Sales Dialogue
Learning Objectives 5 Discuss why prospecting is anL 1 important and challenging task for salespeople. Explain strategic prospecting andL 2 each stage in the strategic prospecting process. Describe the major prospectingL 3 methods and give examples of each method.
Learning Objectives 5 Explain the important componentsL 4 of a strategic prospecting plan. Discuss the types of informationL 5 salespeople need to prepare for sales dialogue.
Why Buyers Won’t See Salespeople 51. They may have never heard of the salesperson’s firm.2. They may have just bought the salesperson’s product category, and there is presently no need.3. Buyers may have their own deadlines on other issues, and they are not in a receptive mood to see any salespeople.4. Buyers are constantly getting calls from salespeople and do not have the time to see them all.5. Gatekeepers in any organization screen their bosses’ calls and sometimes are curt and even rude.
The Importance and Challenges of Prospecting 5• Customer-bases are not permanent, salespeople may lose customers due to: – Low satisfaction – Competition – Economic fluctuation – Other forms of attrition• The prospecting process is can be long – It may take weeks to replace a lost customer with a new one – Revenue streams can fluctuate if “pipeline” isn’t managed• Prospecting isn’t easy and often includes a lot of rejection
The Strategic Prospecting Process 5 A process designed to identify, qualify, and prioritize sales opportunities, whether they represent potential new customers orSalesFunnel or opportunities toPipeline: generate additionalArepresentation business from existingof the trust-based sales customers.process andstrategic salesprospecting process.
Strategic Prospecting Process 5 Sales Leads or Suspects • Generated from Internal or External Sources • Lead Generation Methods Should be Managed Qualifying Process • Need? • Financial Resources • Authority to Make Purchase Decision Sales ProspectIdeal Customer • Prioritize Prospect ListProfile: • Initiate Pre-Call PlanningThe characteristicsof a firm’s bestcustomers or theperfect customer.
Customer-Focused Sales Dialogue 5 Initiating Developing Enhancing Customer Customer Customer Relationships Relationships Relationships Customer-Focused Sales Dialogue Sales dialogue occurs Sales Calls over time and includes Follow-Up; sales calls and other Need Sales forms of buyer-seller Build More Discovery Presentations communication.Throughout Valuethe process,selling strategymust focus oncustomer needsand how thecustomer definesvalue.
Components of a Written Proposal 5 • Executive Summary • Customer Needs and Proposed Solution • Seller Profile • Pricing and Sales AgreementThe qualityof a • Suggested Action and Timetablesalesperson’swrittendocument is asurrogate for thatsalesperson’scompetence andability.
Evaluating Sales Proposal (Five Important Dimensions) 5Reliability: reflects your (the seller’s) ability to identify creative,dependable, and realistic solutions and strategies and match them to the buyer’s needs and wants. Assurance: builds the buyer’s trust and confidence in your ability to deliver, implement, produce, and/or provide benefits Tangibles: enhance and support the communication of your message and invite readership by its overall appearance, content, and organization.Empathy: confirms your thorough understanding of the buyer’sbusiness and his or her specific needs and wants.Responsiveness: developed in a timely manner anddemonstrates a willingness to provide solutions for the buyer’s needsand wants and to help measure results.
Organized Sales Dialogues 5• Several sales conversations over multiple encounters – Sales calls (e.g., Need Discovery, Presentation of Solutions, Follow-Up) – Other communication (phone, email, etc.)• Conversations are customized based on each customer’s unique characteristics (e.g., needs, communication style, etc.)• May include standardized sales and marketing communication materials (e.g., videos, brochures, etc.)
Customer Value Proposition 5Customer Value Proposition: A statement of how thesales offering will add value to the prospect’s business bymeeting a need or providing an opportunity.
Buying Motives 5• Rational Typically relate to the economics of the situation, including cost, profitability, quality, services offered, and the total value of the seller’s offering as perceived by the customer.• Emotional Includes motives such as security, status, and need to be liked; sometimes difficult for salespeople to uncover these motives.
Features and Benefits 5• Feature A quality or characteristic of a product or service that is Fuel Efficient V-6 Engine designed to provide value to a buyer.• Benefit The added value or favorable outcome derived from Higher miles per gallon features of the product or reduces fuel costs. service seller offers.
Engaging the Customer 5Request an appointment• Give the prospect a reason why an appointment should be granted• Request a specific amount of time• Suggest a specific time for the appointment