Chapter 6

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Chapter 6

  1. 1. Chapter 6 Prospecting—The Lifeblood of Selling McGraw-Hill/Irwin Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
  2. 2. Exhibit 6-1: The Selling Process Has 10 Important Steps 1. Prospecting The sales process 2. Pre-approach/planning is a sequential 3. Approach series of actions 4. Presentation 5. Trial close 6. Determine objections 7. Meet objections 8. Trial close 9. Close 10. Follow-up 6-2
  3. 3. Steps Before the Sales Presentation  Prospecting > appointment > planning  Rule of thumb:    6-3
  4. 4. Exhibit 6-2: Before the Sales Presentation 6-4
  5. 5. Prospecting–The Lifeblood of Selling  Prospect –  Prospecting –  Lead – 6-5
  6. 6. A qualified prospect is MAD  He or she has: M A D 6-6
  7. 7. The Prospector Has the Most Challenging Sales Career  This is who:     6-7
  8. 8. Some Prospect, Some Do Not  Many salespeople prospect, both those selling business-to-business and those selling to consumers.  Examples are:   6-8
  9. 9. Some Prospect, Some Do Not, cont…  Many organizations do not prospect.  * products and associated images used for illustrative purposes only 6-9
  10. 10. Compensation for the Salesperson that Prospects is Often:  Based upon 100% commission – if you do not sell, you do not earn. 6-10
  11. 11. Compensation for the Salesperson that Does Not Prospect is Often:  Based upon mostly salary with a small bonus and expenses such as car and office supplies paid  If you do not sell you still get paid…but not for very long. 6-11
  12. 12. Where to Find Prospects  Sources may be varied or few.  6-12
  13. 13. Planning a Prospecting Strategy   It is a skill that can be constantly improved 6-13
  14. 14. Prospecting Methods  E-prospecting on the Web    Cold canvassing  Endless chain –  Orphaned customers 6-14
  15. 15. Prospecting Methods, cont…  Prospect lists, Business Publications  Public exhibitions and demonstrations  Center of influence  Direct mail  Telephone and telemarketing  Observation  Networking 6-15
  16. 16. Prospecting Guidelines  Three criteria are: 1. 2. 3.  Always keep knocking on prospects’ and customers’ doors to help them. 6-16
  17. 17. Referrals Are Used in Most Prospecting Methods  Eight of the twelve popular prospecting methods directly ask for referrals.  Referrals can be directly used in:        6-17
  18. 18. The Referral Cycle  Obtaining referrals is a continuous process without beginning or end.  Referral cycle –  The parallel referral sale:   6-18
  19. 19. The Referral Cycle, cont…  The secret is to ask correctly during referral cycle:     Service and follow-up contact phase: Customer service 6-19
  20. 20. Don’t Mistreat the Referral  Mistreatment can have a ripple effect.  6-20
  21. 21. 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 6-21
  22. 22. Obtaining the Sales Interview  The key factor in selling process is obtaining a sales interview.  The benefits of appointment making:  Telephone appointment  Personally making the appointment     6-22
  23. 23. Summary of Major Selling Issues  The sales process involves a series of actions beginning with prospecting for customers:  Find prospects to contact  Obtain appointments  Plan the entire sales presentation 6-23
  24. 24. Summary of Major Selling Issues, cont…  Popular prospecting methods:  Cold canvas  Endless chain methods  Public exhibitions and demonstrations  Locating centers of influence  Direct mail  Telephone and observation  Salesperson must develop ways of getting to see the prospect. 6-24

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