Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 7-1

Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 7-2 Chapter 7 Prospecting—The Lifeblood of Selling

Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 7-3 Chapter 7 The Sales Process Has 10 Steps Steps Before the Sales Presentation Prospecting—The Lifeblood of Selling Where to Find Prospects Planning a Prospecting Strategy Prospecting Methods Prospecting Guidelines The Prospect Pool

Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 7-4 Chapter 7 The Referral Cycle Call Reluctance Costs You Money! Obtaining the Sales Interview Wireless

Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 7-5 The Sales Process Has 10 Steps The Sales Process Determine the Objectives Prospecting Approach Preapproach Presentation Trial close Meet objections Trial close Close Follow-up

Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 7-6 Steps Before the Sales Presentation Prospecting appointment planning Rule of thumb 20% presentation 40% preparation 40 % follow-up

Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 7-7 Prospecting—The Lifeblood of Selling Prospect--qualified person Prospecting--identifies potential customer Lead--only know name Qualified prospect is MAD Money to buy? Authority to buy? Desire to buy?

Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 7-8 Where to Find Prospects Sources may be varied or few Persons selling different services and goods might not use the same sources

Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 7-9 Planning a Prospecting Strategy Requires a strategy A skill that can be constantly improved

Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 7-10 Prospecting Methods E-prospecting on the Web Individuals Cold canvassing Organizations Endless chain—customer referral Orphaned customers Sales lead clubs

Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 7-11 Prospecting Methods cont… Prospect lists Become an expert—get published Public exhibitions and demonstrations Center of influence Direct mail Telephone and telemarketing Observation Networking

Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 7-12 Prospecting Guidelines Three criteria Customize High potential customers Call back Referrals used in most prospecting methods

Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 7-13 The Prospect Pool Leads Referrals Prospect pool Orphans Your customers

Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 7-14 The Referral Cycle Obtaining referrals is a continuous process without beginning or end Referral cycle The parallel referral sale

Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 7-15 The Referral Cycle cont… The secret is to ask correctly during referral cycle The preapproach contact phase The presentation Product delivery contact phase Service and follow-up contact phase Customer service Don’t mistreat the referral Tracking referrals

Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 7-16 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 the most difficult part of combating it

Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 7-17 Obtaining the Sales Interview Key factor in selling process is obtaining a sales interview The benefits of appointment making Telephone appointment Personally making the appointment Believe in yourself Develop friends in the prospect’s firm Call at the right time on the right person Do not waste time waiting

Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 7-18 Summary of Major Selling Issues The sales process involves a series of actions beginning with prospecting for customers Find prospects to contact Obtain appointments Plan the entire sales presentation

Copyright © 2002 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 7-19 Summary of Major Selling Issues cont… Popular prospecting methods Cold canvas Locating centers of influence Public exhibitions and demonstrations Endless chain methods Direct mailouts Telephone and observation Salesperson must develop ways of getting to see the prospect