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Chapter 7 (.ppt)


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Chapter 7 (.ppt)

  1. 2. Some questions answered in Chapter 7 <ul><li>Why is prospecting important for effective selling? </li></ul><ul><li>Are all sales leads good prospects? What are the characteristics of a qualified prospect? </li></ul><ul><li>How can prospects be identified? </li></ul><ul><li>How can the organization’s promotional program be used in prospecting? </li></ul><ul><li>How can an effective lead qualification and management system aid a salesperson? </li></ul><ul><li>How can a salesperson overcome a reluctance to prospect? </li></ul>
  2. 3. Am I a prospect? <ul><li>Do I have a want or a need that the purchase of the salesperson's product can satisfy? </li></ul><ul><li>Do I have the ability to pay? </li></ul><ul><li>Do I have the authority to buy? </li></ul><ul><li>Can I be approached favorably? </li></ul>You need to answer 5 questions: <ul><li>Am I eligible to buy? </li></ul>
  3. 4. Steps in the selling process Prospecting Collecting precall information Making the approach Discovering needs Making the presentation Responding to objections Obtaining commitment Follow up .............................Lead ..............Prospect ......Customer Exhibit 7.1
  4. 5. Sources of leads: endless-chain Exhibit 7.3 Wayne O’Sullivan Contractor Elizabeth Shick Banker Steve Jones Barnett Bank Linda Clinton Lawyer Mary Swain Administrator Ronald Deck Accountant Linda Strand Contractor David Craig Engineer Frank Hartjen Lawyer Jim Smith County Schools
  5. 6. Sources of leads: center-of-influence Information flows Influence flows
  6. 7. Sources of leads <ul><li>Lists and directories </li></ul><ul><li>Center-of-influence </li></ul><ul><li>Cold calls </li></ul><ul><li>Letters </li></ul><ul><li>Promotional activities </li></ul>Assume you are prospecting for a job when you graduate. Which of these methods would be most useful ?
  7. 8. Sources of leads <ul><li>Additional sources of leads: </li></ul><ul><li>Satisfied “customers” </li></ul><ul><li>Endless chain </li></ul><ul><li>Networking </li></ul><ul><li>Internet </li></ul><ul><li>Shows (job fairs) </li></ul><ul><li>Spotters (employment agencies) </li></ul>
  8. 9. Prospect lists <ul><li>Assume you belong to a social organization on campus that needs to recruit new members. </li></ul><ul><li>How would you develop a prospect list? </li></ul>
  9. 10. North America Industry Classification System (NAICS) <ul><li>NAICS provides common industry definitions for Canada, Mexico, and the U.S. which facilitate the measurement of economic activity in the three member countries of NAFTA. </li></ul><ul><li>NAICS is replacing the Standard Industrial Classification System, a system which had been in place for more than 50 years. </li></ul><ul><li>NAICS is consistent with the International Standard Industrial Classification of All Economic Activities , published by the United Nations, to facilitate measurement of global economic activity. </li></ul>
  10. 11. North America Industry Classification System (NAICS) Broadcasting and telecommunications Radio and television broadcasting Wire telecommunications carriers Paging Cable networks and program distribution Telecommunications Wireless telecommunication carriers, except satellite paging Telecommunications resellers Satellite telecommunications Other telecommunications Cellular and other wireless telecommunication 2 Digit Industry Subsector 3 Digit Industry Group 4 Digit Industry 5 Digit U.S. National Industry
  11. 12. Using NAICS <ul><li>Assume you are about to graduate from college. </li></ul><ul><li>How would you use the NAICS system to help you locate prospective employers? </li></ul>
  12. 13. Resolving conflicting advice Assume your company sends you, via email, the names and addresses of leads who registered with your firm’s web site that day. All of the leads sent are in your territory and your firm expects you to quickly follow-up with these leads. However, your sales manager suggests that such leads are a waste of time. S/he instructs you to make cold calls instead, saying “Cold calling got me where I am today. It will for you too!” What would you say in response?
  13. 14. Any questions about the terminology? <ul><li>Banner advertising </li></ul><ul><li>Bird dog </li></ul><ul><li>Blitz </li></ul><ul><li>Bounce-back card </li></ul><ul><li>Buying community </li></ul><ul><li>Center-of-influence method </li></ul><ul><li>Cold call </li></ul><ul><li>Cold canvass method </li></ul><ul><li>Databases </li></ul><ul><li>Data mining </li></ul><ul><li>Endless-chain method </li></ul><ul><li>e-selling </li></ul><ul><li>Exclusive sales territories </li></ul><ul><li>House accounts </li></ul><ul><li>Inbound telemarketing </li></ul><ul><li>Lead </li></ul><ul><li>Lead management system </li></ul><ul><li>Lead qualification system </li></ul><ul><li>Networking </li></ul><ul><li>North America Industry Classification System (NAICS) </li></ul><ul><li>Outbound telemarketing </li></ul><ul><li>Postcard pack </li></ul><ul><li>Prequalification </li></ul><ul><li>Prospect </li></ul><ul><li>Prospecting </li></ul><ul><li>Qualifying a lead </li></ul><ul><li>Referred lead </li></ul><ul><li>Search engines </li></ul><ul><li>Selling deeper </li></ul><ul><li>spam </li></ul><ul><li>Spotter </li></ul><ul><li>Standard Industrial Classification (SIC) </li></ul><ul><li>Systems integrator </li></ul><ul><li>Telemarketing </li></ul>