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Prospecting—The Prospecting—The Lifeblood of Selling Lifeblood of Selling C h a p t e r 6 McGraw-Hill/Irwin Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
Prospecting—The Lifeblood of Prospecting—The Lifeblood of SellingSelling
Prospecting—The Lifeblood of Prospecting—The Lifeblood of SellingSelling
Chapter
Chapter
6
McGraw-Hill/Irwin Copyright © 2007 by The McGraw-Hill Companies, Inc. All rights reserved.
6-2
Exhibit 6-1: The Selling Process Has 10 Important Steps
10. Follow-up10. Follow-up
9. Close9. Close
8. Trial close8. Trial close
7. Meet objections7. Meet objections
6. Determine objections6. Determine objections
5. Trial close5. Trial close
4. Presentation4. Presentation
3. Approach3. Approach
2. Pre-approach/planning2. Pre-approach/planning
1. Prospecting1. Prospecting
The sales process is a sequential series of actions
6-3
Steps Before the Sales Presentation
Prospecting > appointment > planning Rule of thumb:
6-4
Exhibit 6-2: Before the Sales Presentation
6-5
Prospecting–The Lifeblood of Selling
Prospect – Prospecting – Lead –
6-6
A qualified prospect is MAD
He or she has:MAD
6-7
The Prospector Has the Most Challenging Sales Career
This is who:
6-8
Some Prospect, Some Do Not
Many salespeople prospect, both those selling business-to-business and those selling to consumers.
Examples are:
6-9
Some Prospect, Some Do Not, cont…
Many organizations do not prospect.
* products and associated images used for illustrative purposes only
6-10
Compensation for the Salesperson that Prospects is Often:
Based upon 100% commission – if you do not sell, you do not earn.
6-11
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.
6-12
Where to Find Prospects
Sources may be varied or few.
6-13
Planning a Prospecting Strategy
It is a skill that can be constantly improved
6-14
Prospecting Methods
E-prospecting on the Web
Cold canvassing Endless chain – Orphaned customers
6-15
Prospecting Methods, cont…
Prospect lists, Business Publications Public exhibitions and demonstrations Center of influence Direct mail Telephone and telemarketing Observation Networking
6-16
Prospecting Guidelines
Three criteria are:1. 2. 3.
Always keep knocking on prospects’ and customers’ doors to help them.
6-17
Referrals Are Used in Most Prospecting Methods
Eight of the twelve popular prospecting methods directly ask for referrals.
Referrals can be directly used in:
6-18
The Referral Cycle
Obtaining referrals is a continuous process without beginning or end.
Referral cycle – The parallel referral sale:
6-19
The Referral Cycle, cont…
The secret is to ask correctly during referral cycle:
Service and follow-up contact phase: Customer service
6-20
Don’t Mistreat the Referral
Mistreatment can have a ripple effect.
6-21
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
6-22
Obtaining the Sales Interview
The key factor in selling process is obtaining a sales interview.
The benefits of appointment making:Telephone appointmentPersonally making the appointment
6-23
Summary of Major Selling Issues
The sales process involves a series of actions beginning with prospecting for customers:Find prospects to contactObtain appointmentsPlan the entire sales presentation
6-24
Summary of Major Selling Issues, cont…
Popular prospecting methods:Cold canvasEndless chain methodsPublic exhibitions and demonstrationsLocating centers of influenceDirect mailTelephone and observation
Salesperson must develop ways of getting to see the prospect.
