Module Five
Strategic Prospecting and
Preparing for Sales Dialogue
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.
Why Buyers Won’t See Salespeople
1.
2.
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4.
5.
They may have never heard of the salesperson’s firm.
They may have no need; they just bought the product
category.
The buyer may have their own deadlines on other
issues.
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 are often curt and even rude.
Strategic Prospecting
Sales Leads
Screening
Procedures for
Qualifying Leads
Screened
Out
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
Qualified
Prospects
Sales Opportunities
for the Salesperson
Popular Prospecting Sources & Methods
Internal Sources
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Company Records
Lists and Directories
Advertising Inquiries
Telephone Inquiries
Mail Inquiries
Internet or World Wide
Web
Popular Prospecting Sources & Methods
External Sources
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Referrals
Introductions
Community Contacts
(Centers of Influence)
Organizations
Non-competing
Salespeople
Visible Accounts
Popular Prospecting Sources & Methods
Personal Contact
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Observation
Cold Canvassing
Trade Shows
Bird Dogs (Spotters)
Qualified Prospects . . .
1. Can benefit from the sales offering
2. Have the financial wherewithal to
make the purchase
3. Play an important role in the purchase
decision process
(continued on next page)
. . . Qualified Prospects
4. Are eligible to buy based on a fit within the
selling strategy
5. Are reasonably accessible and willing to
consider the sales offering
6. Can be added to the customer base at an
acceptable level of profitability
Importance of Effective Prospecting
Suppose it takes 10 leads to generate one
qualified prospect
100
Leads
And suppose it takes 10 qualified prospects to
generate one customer
You would need 100 leads to generate one
customer.
One
Customer
Importance of Effective Prospecting
The better the lead generation method, the
higher the proportion of qualified leads.
50
Leads
The more accurate the qualifying process, the
higher the proportion of customers per qualified
lead.
Improving the lead generation method so that 10
leads generates two qualified customers means
you will need only 50 leads to generate one
One
customer.
Customer
Gathering Precall Information:
The Prospect
The prospect’s name and title
Correct spelling and
pronunciation can be gathered
by asking the receptionist or
secretary or gatekeeper to verify
information.
Gathering Precall Information:
The Prospect
Is this prospect willing to take
risks? Are they confident with
their decision making?
May have to ask the prospect
Gathering Precall Information:
The Prospect
Is the buyer involved in their
community? Do they belong to
clubs or professional
organizations?
Observe club or organizational
honors displayed in the office.
Gathering Precall Information:
The Prospect
Does the prospect have
hobbies or interests they are
proud of?
Observation of office.
Gathering Precall Information:
The Prospect
What is the prospect’s
personality type? Easy going?
All business?
Observation and experience
with buyer.
Gathering Precall Information:
The Prospect
Where did this prospect grow
up? Where were they
educated?
Look for diplomas. Ask.
Gathering Precall Information:
The Prospect’s Organization
What type of business are
we dealing with?
Can be gathered from a
directory and company web
site.
Gathering Precall Information:
The Prospect’s Organization
To what market does the
company sell?
Who are its primary competitors?
What does the company make & sell?
Annual reports and company
web site.
Gathering Precall Information:
The Prospect’s Organization
Who and how many vendors does the
prospect presently buy from?
How much and how long have they
been purchasing from their
supplier(s)? What challenges is the
organization facing?
Salesperson may have to ask for
this information.