Strategic Prospecting and Preparing for Sales Dialogue

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Presentation transcript:

Strategic Prospecting and Preparing for Sales Dialogue Copyright ©2017 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.

Learning Objectives Discuss why prospecting is an important and challenging task for salespeople Explain strategic prospecting and each stage in the strategic prospecting process Describe the major prospecting methods and give examples of each method Explain the important components of a strategic prospecting plan Discuss the types of information salespeople need to prepare for sales dialogue

Importance of Prospecting Salespeople lose customers due to lack of prospecting Causes: Rise in competition Change in market conditions Dissatisfaction with the product, salesperson, or selling firm

Strategic Prospecting Process Designed to identify, qualify, and prioritize sales opportunities May either represent: Potential new customers and opportunities Additional business from existing customers

5.1 Prospecting Methods

Ethical Dilemma

5.2 Developing a Strategic Prospecting Plan

5.2 Personal Prospecting Log

Information Gathered to Prepare a Sales Dialogue Basic Information about the prospect Information about the selling situation Sources of information

5.3 Basic Information about the Prospect

5.4 Information about the Selling Situation

5.5 Sources of Information

Key Terms Strategic prospecting Referral Sales funnel or pipeline Sales leads or suspects Qualifying sales leads Sales prospect Ideal customer profile Cold calling Referral Introduction Centers of influence Noncompeting salespeople Electronic networking Company records Advertising inquiries

Key Terms (continued) Inbound telemarketing Outbound telemarketing Trade shows Seminars Directories Strategic prospecting plan Tracking system

Summary Prospecting is important during tough financial conditions, changing market situations, and fierce competition Strategic prospecting process identifies, qualifies, and prioritizes sales opportunities Prospecting methods Cold canvassing, networking, company sources, and command sources Strategic prospecting plan helps salespeople improve their prospecting effectiveness