The Prospect

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5
Strategic
Prospecting and
Preparing for
Sales Dialogue
Learning Objectives
Discuss why prospecting is an
L 1 important and challenging task for
salespeople.
Explain strategic prospecting and
L 2 each stage in the strategic
prospecting process.
Describe the major prospecting
L 3 methods and give examples of each
method.
5
Learning Objectives
Explain the important components
L 4 of a strategic prospecting plan.
Discuss the types of information
L 5 salespeople need to prepare for
sales dialogue.
5
5
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Key Thoughts
• Strategic prospecting is the process by which salespeople separate out
those that are more likely to buy from those that are less likely to buy
in order to avoid wasting resources.
• Leads may be generated in a variety of methods. It is important for
salespeople to know which are more effective.
• Satisfied customers are often the best source of good leads.
• A strategic prospecting plan will improve a salesperson’s prospecting
efficiency and effectiveness.
• Salespeople should spend some time learning
what they can (without wasting resources)
about their qualified leads in order to
develop an effective sales strategy.
5
Why Buyers Won’t See Salespeople
1.
2.
3.
4.
5.
They may have never heard of the salesperson’s firm.
They may have just bought the salesperson’s product
category, and there is presently no need.
Buyers may have their own deadlines on other issues,
and they are not in a receptive mood to see
any salespeople.
Buyers are constantly getting calls from
salespeople and do not have the time to
see them all.
Gatekeepers in any organization screen
their bosses’ calls and sometimes are
curt and even rude.
5
The Importance and
Challenges of Prospecting
• 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
5
Ethical Dilemma
5
The Strategic Prospecting Process
Sales
Funnel or
Pipeline:
A
representation
of the trustbased sales
process and
strategic sales
prospecting process.
A process designed to
identify, qualify, and
prioritize sales
opportunities, whether
they represent potential
new customers or
opportunities to
generate additional
business from existing
customers.
5
Strategic Prospecting
Sales Leads
Screened Out
Screening
Procedures for
Qualifying Leads
Qualified
Prospects
Sales Opportunities
for the Salesperson
The process of
identifying, qualifying,
and prioritizing sales
opportunities, whether they
represent potential new
customers or opportunities
to generate additional business
from existing customers.
Screened Out
5
Popular Prospecting Sources & Methods
External
Internal Sources
Personal
Contact
–––
–––
–––
–
––
–
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Referrals
Company Records
Observation
Introductions
Lists
and Directories
Cold
Canvassing
Community
Advertising
Inquiries
Trade
Shows Contacts
(Centers
of Inquiries
Influence)
Telephone
Bird
Dogs (Spotters)
Organizations
Mail Inquiries
Non-competing
Internet or World Wide
Salespeople
Web
–
Visible Accounts
5
Qualified Prospects . . .
 Can benefit from the sales offering
 Have the financial wherewithal to make
the purchase
 Play an important role in the purchase
decision process
5
Qualified Prospects . . .
 Are eligible to buy based on a fit within the
selling strategy
 Are reasonably accessible and willing to
consider the sales offering
 Can be added to the customer base at an
acceptable level of profitability
5
Strategic Prospecting Process
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 Prospect
Ideal Customer
Profile:
The characteristics
of a firm’s best
customers or the
perfect customer.
• Prioritize Prospect List
• Initiate Pre-Call Planning
5
Popular Prospecting Sources & Methods
5
Developing a Strategic
Prospecting Plan
5
Developing a Strategic
Prospecting Plan
5
Gathering Precall Information:
The Prospect
5
Gathering Precall Information:
The Prospect’s Organization
5
Ethical Dilemma
5
Role Play
5
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