Prospecting

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Chapter 67

• Prospecting
• Planning the Sales Call
• Nicole Howatt

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Topics

• Why is prospecting important for effective
  selling?
• Are all sales leads good prospects? What are the
  characteristics of a qualified prospect?
• How can prospects be identified?
• How can the organizations promotional program be
  used in prospecting?
• How do we overcome a reluctance to prospect?

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Obtaining Knowledge

• Preapproach
• Hot buttons

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Prospecting

• Locating potential customers and acquiring info.
  need
• Important??

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Why is Prospecting Important?

• To find replacements for
• Turn over is ____
• Customers lost to competitors
• Customers move out of territory
• Customers go out of business

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How do you Prospect?

• Obtain leads-how many?
• Qualify leads to become prospects

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Am I a Prospect?
You need to answer 5 questions

• Do I have a want or a need that the purchase of
  the salesperson's product can satisfy?
• Do I have the ability to pay?
• Do I have the authority to buy?
• Can I be approached favorably?
• Am I eligible to buy?
• MAD Customers-money, authority desire

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• Lead
• Qualify
• Prospect
• Sell
• Customer
• Build Relationship
• Partner

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Sources of Leads
Assume you are prospecting for a job when you
graduate. Which methods are useful? Networking,
job shadows, clubs and organizations, alumni
association

• Lists and Directories
• Canvassing
• Spotters
• Telemarketing
• Sales letters

• Satisfied customers
• Endless-chain
• Center-of-influence
• Networking
• Promotional activities

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Planning the Sales Call

• Essential in Selling?
• Time is valuable
• Homework is essential

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Topics

• Why should salespeople plan their sales calls?
• What precall information is needed about the
  individual prospect and the prospects
  organization? How can this information be
  obtained?
• What is involved in setting call objectives?
• Should more than one objective be set for each
  call?
• How can appointments be made effectively and
  efficiently?

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Youre getting ready for a 2nd job
interview.Where would you get this information?

• What is the interviewers name?
• What are the interviewers interests (hobbies,
  sports, reading, etc.), and what does the
  interviewer not enjoy?
• What are some aspects of the interviewers
  back-ground (education, family status, successes,
  failures)?
• What is the interviewers social style (driver,
  amiable, analytical, expressive)?

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Where would you get this information about a
prospect?

• Which are the organizations primary competitors?
  How do the competitors differ in their business
  approach?
• Why does the organization buy from its present
  suppliers? Is it satisfied with them? Why or why
  not?
• What policies does the organization have
  regarding salespeople, sales visits, purchasing,
  and pricing?
• What other firms might the organization be
  considering (i.e., who are the sellers potential
  competitors)?

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Why are these criteria necessary for effective
objectives?

• Specific
• Realistic
• Measurable

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Examples of Call Objectives

• Objectives Leading up to the Sale
• To have the prospect agree to come to the local
  branch office sometime during the next two weeks
  for a hands-on demonstration of the copier.

• To set up another appointment for one week from
  now, at which time the buyer will allow me to do
  a complete survey of his/her printing needs.
• To inform the doctor of the revolutionary
  anti-clogging mechanism that has been
  incorporated in our new drug and have the doctor
  agree to read the pamphlet I will leave behind.
• To have the buyer agree to pass my information
  along to the buying committee with her/his
  endorsement of my proposal.

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Examples of Call Objectives

• Objectives Leading up to the Sale
• To have the prospect agree to call several
  references that I will provide in order to
  develop further confidence and trust in my office
  cleaning business.
• To have the prospect agree on the first point (of
  our four-point program) and schedule another
  meeting in two days with an agenda of discussing
  the second point.
• To have the prospect initiate the necessary
  paperwork to allow us to be considered as a
  future vendor.
• To have me fully understand and appreciate the
  principle risks that adopting my product would
  pose to the buyer.

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Examples of Call Objectives

• Objectives Related to Consummating the Sale
• To have the prospect sign an order for 100 pair
  of Levis jeans.
• To schedule a co-op newspaper advertising program
  to be implemented in the next month.
• To have the prospect agree to use our brand of
  computer paper for a trial period of one month.
• To have the retailer agree to allow us space for
  an end-of-aisle display for the summer promotion
  of RAID insect repellant.

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How would you adjust your objectives?

• Primary
• Minimum
• Optimistic
• Why?

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Getting and Setting Appointments

• Phone, letters, in person
• Right person?
• Purchasing agent
• Higher level manager
• Right time, place
• Gatekeepers-WHO?