This document discusses the importance of prospecting for effective selling. It defines prospects as potential customers and explains that not all sales leads qualify as prospects. Good prospects have a need, ability to pay, authority to buy, and are eligible and accessible. The document outlines various prospecting methods including referrals from satisfied customers, networking, lists, trade shows, and seminars. It emphasizes the need for salespeople to qualify leads and develop an effective lead management system, as well as overcome any reluctance to prospecting.
Attitudes stem out of personalities of individuals and are the result of the choices they make. It is important for employees, particularly sales people, to have a positive mental attitude.
Attitudes stem out of personalities of individuals and are the result of the choices they make. It is important for employees, particularly sales people, to have a positive mental attitude.
When your product is high involvement, your marketing communications becomes high involvement and that is where direct marketing, relationship & personal selling comes into picture .
Sales persons follow a sequence of activities while making a sale and these may be defined as different phases followed by salesperson.
A cycle start with prospect/potential customer identification, to converting him to a customer.
The sequential order of the steps may vary across selling situations
Introduction to Sales Management – The Sales Organization
– Determining Sales Related Marketing Policies – Sales
Functions and Policies – International Sales Management
– Personal Selling.
Sales Planning – Sales Budgets – Estimating Market
Potential and Forecasting Sales – Sales Quotes – Sales &
Cost Analysis, Sales Force Management: Hiring and Training Sales
Personnel – Time and Territory Management –Compensating Sales Personnel – Motivating the Sales Force
– Leading the Sales Force – Evaluating Sales Force
Performance.
Marketing Logistics - Distribution as Marketing Mix
Element – Distribution Resource Planning – Marketing
Channel Integration – Channel Management – Nature of
Marketing Channels – Evaluating Channel Performance-
Specialized Techniques in selling – Tele Marketing – Web
Marketing
Distribution Cost Analysis: Managing Channel Conflicts –
Channel Information Systems – Wholesaling – Retailing –
Ethical And Social Issues in Sales and Distribution
Management.
When your product is high involvement, your marketing communications becomes high involvement and that is where direct marketing, relationship & personal selling comes into picture .
Sales persons follow a sequence of activities while making a sale and these may be defined as different phases followed by salesperson.
A cycle start with prospect/potential customer identification, to converting him to a customer.
The sequential order of the steps may vary across selling situations
Introduction to Sales Management – The Sales Organization
– Determining Sales Related Marketing Policies – Sales
Functions and Policies – International Sales Management
– Personal Selling.
Sales Planning – Sales Budgets – Estimating Market
Potential and Forecasting Sales – Sales Quotes – Sales &
Cost Analysis, Sales Force Management: Hiring and Training Sales
Personnel – Time and Territory Management –Compensating Sales Personnel – Motivating the Sales Force
– Leading the Sales Force – Evaluating Sales Force
Performance.
Marketing Logistics - Distribution as Marketing Mix
Element – Distribution Resource Planning – Marketing
Channel Integration – Channel Management – Nature of
Marketing Channels – Evaluating Channel Performance-
Specialized Techniques in selling – Tele Marketing – Web
Marketing
Distribution Cost Analysis: Managing Channel Conflicts –
Channel Information Systems – Wholesaling – Retailing –
Ethical And Social Issues in Sales and Distribution
Management.
Customer Journey Maps and Buyer PersonasGoodbuzz Inc.
Today’s buyers have more ways to interact with businesses than ever, but this increase in communication channels and platforms doesn’t necessarily translate to a positive customer experience: Only 22 percent of consumers say the average retailer understands them as an individual, and only 21 percent say the communications they receive from the average retailer are “usually relevant.”
Marketing is an organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customers’ relationships in ways that benefit the organization and its stakeholder.
Mastering Freelance Marketing: Your Ultimate Step-by-Step GuideJustin Barney
Are you ready to become a freelance marketer? This special guide is just for beginners like you! Inside, you'll find easy lessons and tips to help you start your exciting journey in freelance marketing.
Learn how to promote yourself, find clients who need your help, and create awesome marketing campaigns. Discover the secrets of pricing your services and making your clients happy. With this guide, you'll become a freelance marketing superstar in no time! Get ready to learn and have fun along the way. Let's dive in and become the best freelance marketer you can be!
Traditional selling process comprising of 7 steps is mentioned in this PPT. The difference between solution selling and Insight selling is brought to light. Referred Harvard Business Review and other leading Journals for making this PPT.
The Fundamentals of Trade Marketing
Trade marketing is a form of business-to-business (B2B) marketing, in which companies attempt to market and sell their products to wholesalers, distributors, or retailers, rather than directly to consumers. Profitable trade marketing is contingent on a number of factors, from an awareness of retailer and consumer needs to the ability to formulate innovative and modern sales techniques. What follows are some of the fundamentals of trade marketing practices.
Master the art of Social Selling to increase sales by fostering relationships...VereigenMedia1
The goal of “social selling” is to increase sales by fostering relationships with potential prospects and stimulating conversations with those customers through social media platforms. For
example, on LinkedIn, marketing specialists share advice with a targeted audience of firms in a specific area (e.g., eCommerce, SaaS, finance).
Consistent participation on the platform increases their credibility and eventually, their
clientele. This approach allows you to market your business without making your posts look
like ads.
The goal of both traditional social media marketing and social selling is to make a sale. Social media marketing focuses on branding and aiming to reach a wider audience rather than just deal closures. On the other hand, in social selling, you leverage your own personal brand to connect with potential buyers. To put it simply, social selling is sales-focused, while social media marketing is more concerned with expanding a company’s brand. It’s setting yourself up as a credible thought leader or industry expert to get more sales.
Traditional lead generation has undergone substantial changes in recent years, thanks to new online and social marketing techniques. In particular, the abundance of information readily available online has led to the rise of the “self-directed buyer” and the emergence of new ways to develop and qualify potential leads before passing them to sales.
In the age of the self-directed buyer, marketers need to find new ways to reach their potential customers and get heard through the noise. Instead of finding customers through mass advertising and email blasts, marketers must now focus on being found, and learn to build enduring relationships with buyers. This massive shift has sparked a huge transformation in marketing.
www.bibbyconsultinggroup.com.au
Follow us:
Instagram: http://instagram.com/bibbyconsulting
Facebook: http://facebook.com/bibbyconsulting
Twitter: http://twitter.com/bibbyconsulting
Google+:http://plus.google.com/+Bibbyconsulti...
LinkedIn: http://linkedin.com/company/bibby-con...
Bibby Consulting: http://bibbyconsultinggroup.com.au
Nathanial Bibby: http://nathanialbibby.com.au
LinkedInsider: http://linkedinsider.com.au
Consultative Selling in B2B Technology SalesRed Box Direct
This is a brief on solution-based sales and marketing practices for B2B technology professionals. We share our thoughts on essential strategy and processes for successfully selling technical instrumentation and services
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
Palestine last event orientationfvgnh .pptxRaedMohamed3
An EFL lesson about the current events in Palestine. It is intended to be for intermediate students who wish to increase their listening skills through a short lesson in power point.
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
2.
To know why prospecting important for effective
selling.
To know the characteristics of a good of qualified
prospect.
To know how can prospect be identified?
To know how can the organization’s promotional
program be used in prospecting.
To know how can an effective lead qualification and
management system aid a salesperson.
To know how can a salesperson overcome a
reluctance to prospect.
3. Prospecting, the important
process of locating potential
customers for a product or
service, is critical whether you
are new or seasoned sales
professional.
4. Prospects actually begins with locating a lead,
a person or an organization that may or may
not have what it takes to be a true prospect.
Some salespeople mistakenly consider every
lead a prospect without first taking the time
to see whether these people really provide an
opportunity to make a sale.
5. Does the lead have want or a need that
purchase of my products or services can
satisfy?
Does the lead have the ability to pay?
Does the lead have the authority to buy?
Can the lead be approach favorably?
Is the lead eligible to buy?
6.
7.
8.
9. Some leads with a need, the ability to
pay, and the authority to buy may still
not qualify as prospects because they
are not accessible to the salesperson.
10. Eligibility is an equally
important factor in finding a
genuine prospect.
11. Relevant questions to consider include,
when does the prospect’s contract with our
competitor expire? And is a purchase
decision really pending? How do we know?
Still other firms look at the long-term
potential of developing a partnership with a
lead?
13. Satisfied customers, particularly those who are truly partners with
the seller, are the most effective sources for leads.
To maximize the useful of satisfied customers, salespeople should
follow several logical steps:
They should make a list of potential references (customers who
might provide leads) from among their most satisfied customers.
They should decide what they would like each customer to do.
Salespeople should ask the customer for the names of leads and for
the specific type of help she/he can provide.
Salespeople sometimes use referral events gathering designed
to allow current customers to introduce prospects to the
salesperson, to generate leads.
14. Satisfied customers not only provide leads
but also are usually prospects for additional
sales.
Salespeople should never overlook this
profitable opportunity.
Sometimes customers aren’t willing to offer
referrals
Successful salespeople make sure that they
keep in touch with their satisfied customer,
to make sure they stay satisfied.
15. Endless-chain method , sales representatives attempt to
get at least one addition lead from each person they
interview.
Some people object to having their names used as a means
of opening the door to friends or business acquaintances.
Referral lead, the name of a lead provided by either
customer or a prospect and it is generally considered the
most successful lead.
16. Networking is the utilization of personal relationship by
connected and cooperating individuals for the purpose of
achieving goals.
In selling, networking simply means establishing connections to
other people and then using those networks to generate leads,
gather information, generate sales, and so on.
Networking crucial in many selling situations.
Successful networkers offer a number of practical suggestions:
Call at least two people per day and go to least one networking
event every week to increase your exposure and time with your
contacts.
Spend most of your initial conversation with a new contact talking
about his/her business, not yours, and don’t forget to learn about
the person’s non-business interests.
Follow up with your new contact on a regular basis with cards,
notes of congratulations about awards of promotions and articles
and informations that might help her/him.
17. In one particularly important form of networking, the
center-influence method , the salesperson cultivates
a relationship with well-known, influential people in the
territory who are willing to supply the names of leads.
In individual sales situations the centers of influence are
frequently people in important departments not directly
involved in the purchase decision, such as quality control,
equipment maintenance, and receiving.
Centers of influence tend to those who enjoy being very
socially involved in their communities.
Centers of influence may never buy.
How do you find centers of influence?
Try asking customers and prospects whom they consider
to be the most influential person in their industry or
association.
18. Probably the fastest-growing method of generating
leads is through the internet.
Successful salespeople are using Web sites, e-mail,
listservs, bulletin boards, forums, roundtables, and
newsgroups to connect to individuals and companies
that may be interested in their products/services.
Firms use the Web to solicit leads in a number of
ways.
Firms make sure their sites are listed on the major
and important search engines, the tools that
individuals use to locate sites.
Banner advertising consists of ads placed at the
top, sides, or bottom of a web page, encouraging the
viewer to visit a different Web site.
19. Firms increasingly take advantage of new
software that helps them utilize the Web more
effectively in prospecting.
Firm also developing extranets, internet sites
that are customized for specific target markets.
Extranets are usually used to build
relationships with current customers, but some
companies are also using these sites to
generate leads.
Some salespeople have learned how to
successfully utilize e-mail to generate leads, a
technique called e-selling.
20. Firms have developed sophisticated system to generate
inquiries from leads by using advertising and direct mail.
The firm also places advertisements in trade
publications, such as Presentations.
Digital juice can also participate in postcard pack.
Postcard pack is a group of postcards (usually between
15 and 50 different cards) that provide information from
many firms.
Anyone who inquires about Digital Juice’s products
receives a cover letter, information about the advertised
product, and follow-up inquiry card.
Many marketing promotions are tied to toll-free number
and the inquirer’s fax machine.
21. Many companies display or demonstrate their
products at trade shows, conventions, fairs, and
merchandise markets. Sales representatives are
present to demonstrate products to visitors, many
whom salespeople have not called on before.
Its salespeople report that selling year-round is
easier due to the impression the company makes on
prospects at the show.
Trade shows are short (usually less than a week),
temporary exhibitions of products by manufacturers
and resellers.
Even firms that do not use resellers may have
salespeople involved in trade shows. At many trade
shows all attendees are customers.
22. Merchandise markets are places where suppliers have sales
officers and buyers from resellers visit to purchase merchandise.
The sellers are the manufacturers or distributors, and they sell
only to resellers, not to the public.
Sellers may lease showroom space permanently or during market
weeks.
Sellers who lease space permanently usually bring in buyers
during off-market periods or when no markets are being held.
Buyers visit many vendors during markets, selecting the products
they will carry for the next season. In some industries, almost all
sales to resellers occur during market.
Successful people practice adaptive selling when interacting with
prospects who stop by their booths or markets.
The seller provides the lead with helpful information and
gathering information that will be used later in further qualifying
the lead and preparing for a sales call.
23. Today many firms use seminars to generate leads and to
provide information to prospective customers.
Some keys things to keep in mind when planning a
seminar:
Make sure your seminar appeals to specialized market
and invite good prospects, especially those prospects
who might not be willing to see you one on one.
The subject should be something your attendees have
strong interest in, while your speaker must be considered
an authority on the topic.
Try to go as high quality as possible (remember, you’re
building an image) and consider serving food.
Finally, you should take an active role before, during, and
after the seminar.
24. Individual sales representatives can develop prospect lists from
sources such as public records, telephone directories, chamber
of commerce directories, newspaper, trade publications, club
membership lists, and professional or trade membership lists.
Secondary sources of information from public libraries also can
be useful.
It is often useful to know the standard industrial
classification (SIC) code of for an industry when researching
for leads because many publications are indexed by SIC codes.
Salespeople can purchase a number of prospecting directories
and lead generating publications.
.
25. Salespeople should keep in mind that purchased lists
can have several drawbacks.
The list may not be current.
They may contain some inaccurate information
regardless of the guarantee of accuracy.
People who are on list may be targeted by many firms
and thus be less open to hearing from yet another
salesperson.
Finally, because lists are easy to obtain and use, some
salespeople tend to rely on them exclusively when other
methods of prospecting might result in better leads.
Most lists are simply names and telephone numbers.
However, prospecting system can be much more
elaborate.
In international selling situations, procuring list can be
much more difficult.
26. In using the cold canvass method or cold calls (by call we
usually mean a personal visit not a telemarketing call) , a
sales representative tries to generate leads for new business
by calling on totally unfamiliar organization.
27. Some salespeople use spotters, also called bird dogs. These individuals will, for a
fee provide leads for the salesperson. The sales rep sometimes pay the fee simply
for the name of the lead but more often pays only if the lead ends up buying
product or service. Spotters are usually in a position to find out when someone is
ready to make a purchase decision.
28. Telemarketing is a systematic in continuous program
of communicating with costumers and prospects via
telephone. Telemarketing is not limited to consumer
sales.
29. Many sales people find leads through personal observations. For
example, by reading trade journals carefully, salespeople can learn the
names of the most important leaders .
Non sales employees within the sales person firm can also provide
leads. Some companies strongly encourage this practice
Leads can be found in many other places as well. Salespeople for
noncompeting but related products can often provide leads as can
members of trade associations.
30. Salespeople need to develop a process for qualifying leads, often
called a lead qualification system. Many firms view prospecting as a
funneling process in. which a large number of leads are funneled into
prospects and some, finally, into costumers. To help salespeople use
their time wisely, firms will often engage in prequalification of leads
before turning them over to the field sales force. Sometimes the
prequalification process is a prequalified list.
Sales people must not only qualify leads but also carefully analyze the
relative value of each lead. This part of the process is called a lead
management system.
31. People often stereotype salespeople as bold, adventurous, and somewhat
abrasive. This view that salespeople are fearless is more fiction than fact.
Salespeople often struggle with a reluctance to prospect that persists no
matter how well they been trained and how much they believe in the
products they sell.
32. Locating prospective customers is the first step in the sales
process. New prospects are needed to replace old customers lost for a
variety of reasons and to replace contacts lost in existing customers
because of plant relocations, turnover, merger, downsizing, and other
factors.
Not all sales leads qualify as good prospect. A qualified
prospect has a need that can be satisfied by the salesperson, and is
eligible to buy.
Many methods can be used to locate prospect. The best source
is a satisfied customer. Salespeople can also use the endless-chain
method, networking , list and derectories, cold canvassing, and spotters.
Companies provide leads to salespeople through promotional activities
such as internet, inquiries from advertising and direct mail,
telemarketing, trade shows, merchandise markets and seminars.
Effective prospecting requires a strong plan that hinges on
developing a lead qualfication and management system and overcoming
reluctance to prospect.