AGRI-SELLING PROCESS Key Components –Preparation –Opening –Presentation ( and Handling Objections) –Closing –Service

8/29/20152 Agri-selling and the Preparation Process Chapter # 4 Objectives - 1.Define and explain how to use prospecting.(Q2Ch4) 2.Are all sales leads good prospects? 3.What are the characteristics of a qualified prospect? 4.Describe 3 methods of Prospecting.(Q3Ch4) 5.Give an example using trade shows to Prospect 6.How can a salesperson overcome a reluctance to prospect? 7.Use an example prospect priority index. (Q4Ch4) 8.Describe the value of key accounts & how you develop a key account strategy.

PREPARATION A) Build knowledge base for product/service –____________________________________ awareness of technical features and potential benefits of the product/service –____________________________________ awareness of other potential rival products, their features and limitations, market trends important to your customers, all major factors that can affect your prospects buying decision –____________________________________ awareness of customer’s goals, needs, related purchase and production activities. Create a client profile. –Knowledge: Gives you _______________________________________________________ _____________________________________________________ ___________________________________

Phillip Logesdon, Field Research** Meet with sales people _____________ information Field Plot and actual results may ________ Research Manager Manages Research Plots Audio Video clips funded by the Barnhart Fund for Excellence

PREPARATION B) Identify prospects (Q1Ch9, part 1). Define and explain prospecting) –Prospecting:the process of –____________________________ An effective prospecting program is systematic and can be measured for effectiveness. Good salespeople ______________________ that constantly give them ____________________ ____________

Five Rules For Successful Prospecting 1. The prospecting plan must help you achieve all ___________________ 2. Study your market to know what is changing and can identify ___________________ 3. Use a variety of prospecting methods 4. ___________________ your prospects 5. Develop a system for ___________________ using important information to prepare a selling strategy

______________________________________ ________________________ –A client is not a real prospect without resources to pay for the product –Ability to pay includes ________________________ –Knowing who has purchasing authority saves the salesperson time and effort because it can result in a sale ____________________________________________ ________________________ 7-7 Characteristics of a Good Prospect McGraw-Hill/Irwin

8/29/20158 An Application Nugget You are a salesperson for a new breed of laying hens, how would you develop a prospect list? ___________________________________________________________ _________________________________________________________ ___________________________________________________________ _________________________________________________________ ___________________________________________________________

Sales Goal(s) (Q1Ch9, part 2) Penetration- __________________ Concentration – _________________ Both (the BMA example)

Networking –Salesperson uses personal _______________ _________________________________ –to secure leads (influence peddlers) –Suggestions: Call at least two people per day and go to at least _______________________ Spend most of your initial conversation with a new contact talking about his or her business and _________________________________ Follow up on a regular basis 7-10 How and Where to Obtain Prospects McGraw-Hill/Irwin

__________________________ –Sales person cultivates well-known, influential people in the territory who are willing to supply lead information _________________ –Salesperson uses websites, , listservers, bulletin boards, forums, roundtables, and newsgroups to secure leads –Extranets _____________________________________________________ –E-selling, E-tailing ___________________________________________ –Salespeople use these forms of promotional activities to generate leads –Postcard pack –Bounce-back card 7-11 How and Where to Obtain Prospects (continued) McGraw-Hill/Irwin

How and Where to Obtain Prospects (continued) _________________________________ (more on this one next) _____________ –Salespeople use seminars for prospects to generate leads –Appeal to a specialized market –Invite good prospects –Go high-quality –Be involved before, during, and after __________________________ –Secondary data sources; free or fee-based –SICs and NAICS (Standard Industrial Classification / North American Industry Classification System) –Purchasing lists 7-12 McGraw-Hill/Irwin

Cold calls: ___________________________________ Cool calls (Segment Specific Prospecting): Calling on prospects _____________________________ Leads: Calling on prospects who have been_______________________________ __________________________________ ___ Target Prospecting: Concentrates limited resources, and directs efforts to ___________________________ (Q2Ch9- Methods of Prospecting)

Cold Calls - The Downside? Relative to cool calls, leads and targets cold call prospects are not as likely to _________________________________ __________________________ _________________________________ __________________________ to probe & collect needs information __________________________

TRADE SHOWS (Using trade shows to prospect – Appendix B) Develop a goal __________________________ Positive physical arrangements which accurately portray your intent _________________________

TRADE SHOWS Develop a goal (PR/exposure, leads/contacts or sales) Positive physical arrangements which accurately portray your intent (location, display & size) Attention grabbers __________________________ Visitor relations & the __________________________ Prompt follow-up the key __________________________ (Student recruiting example)

Jeff Rice, Director of Market Development** Local, state & national Farm machinery show _____________________ Trade Shows Clip funded by the Barnhart fund for Excellence

How and Where to Obtain Prospects (continued) _______________ –Personal letters to potential leads –Follow up with a telephone call –Include promotional items Other sources of leads –_______________, people in his or her own firm, friends, and so on, to secure information –____________________ 7-18 McGraw-Hill/Irwin

Reasons for reluctance –Being overly concerned with ____________ _______________ –Being fearful of: ________________________ 7-19 Overcoming a Reluctance to Prospect McGraw-Hill/Irwin

Helpful activities: –Identify and evaluate ____________ –Engage in sales ______________________ activities –Make prospecting contacts ______________ ________________________ –Set ______________ for all of your prospecting activity –Realize the ______________ of prospecting activities 7-20 Overcoming a Reluctance to Prospect (continued) McGraw-Hill/Irwin

Helpful activities (continued): –Remember you are calling to ________________ –________________ of what prospects might say about you, your company, or your products –Learn and apply ____________________________ ______________ –Recount your own _______________________, or those of others 7-21 Overcoming a Reluctance to Prospect (continued) McGraw-Hill/Irwin

Jeff Rice, Director of Market Development** With and without ________________ Segmenting Miles Enterprises Growers Clip funded by the Barnhart fund for Excellence

Building a Prospect Profile Beginning with the Basics Name, address, family, education, _____________________________________________________________ (Helps for opening the call and for classifying buyer type) as does _____________________________________________ Credit Rating (Pre and early qualifying) _____________________________ ________________________ A detailed information sheet or source for each prospect that includes necessary information or developing an effective sales call strategy A detailed information sheet or source for each prospect that includes necessary information or developing an effective sales call strategy

David Gress Miles Enterprises** ____________________________ Preparing for the call Clip funded by the Barnhart fund for excellence

Brad - Cargill Ag-Horizons, Bob - Agway Ag Products Go after customers that ___________________________________ your business with them by growing together Categorize the prospects by _________________________ 4. Etc...

PREPARATION Criteria for identifying good prospects: –_______________ –______________________________ – ______________________ –_________________________________ –______________ –______________________________________________ – ______________________ –___________________________________________ – ______________________ –TRY TO RANK YOUR CRITERIA! –(Objective - Explain how to prioritize prospects.)

PREPARATION –_______________________________ is a widely recognized tool for prioritizing prospects –(Objective, Q4Ch9. Use and example PPI) Enter the names of specific accounts, those you ________________________________ Review the characteristics in your PPI Add any that are ___________________ Delete any that no longer apply (see the H/O)

The Prospect Priority Index Prospect Priority Index Factor/ProspectWtJoeJohnJim Pot Acct Size Credit evaluation Distribution/delivery opinion leader loyalty Profit potential total 2X Distribution

PREPARATION C) Profile targets/customers ___________________________________________________________ To have knowledge of customer readily available D) Develop objectives and strategies: Determine the long term sales objectives which are –Tangible: ________________________________________________ –Measurable: ________________________________________________ –Feasible: ________________________________________________ – Or SMART ________________________________________________ or SMAC

A customer … ____________________________________ _____________________ (Objective. Describe a key account & related strategy) A KEY ACCOUNT

Key Account Strategy Key account goals should match company, territory & personal sales goals History, data & information (more detail coming) ___________________________ _______________________________ ___________________________ Measure satisfaction and revise strategy

Key Account History & Information _____________________________ _________________ ___________________________ What products/services/information fit their needs?

8/29/ Key Account Data Purchase History by product including time & quantity of purchases _____________________________________ _____________________________________ _

8/29/ __________________________________________ –Type of organization –Size, number of locations –Products and services offered –Financial position and its future –Overall culture of the organization __________________________________________ –Who they are –How they differ in their business approaches –Prospect’s strategic position in the industry 8-34 The Prospect’s/Customer’s Organization McGraw-Hill/Irwin

8/29/ _____________________________ –Formal reporting relationships –Bonds that the prospect has already formed with other salespeople ______________________________ –Product evaluation process 8-35 The Prospect/Customer as an Individual (continued) McGraw-Hill/Irwin

8/29/ ________________________________ –Sole supplier or multiple suppliers – why? –Reason for buying from & satisfaction with present suppliers _________________________________ –Type of buying process –Strengths and weaknesses of potential competitors 8-36 The Prospect’s/Customer’s Organization (continued) McGraw-Hill/Irwin

8/29/ _________________________________ –How they fit into the formal and informal organizational structure –Their roles in this decision –Current problems the organization faces – _________________________________ –About salespeople, contacts & visits 8-37 The Prospect’s/Customer’s Organization (continued) McGraw-Hill/Irwin

_____________________________________________ Resources________________________ –Firm’s own on-line sales portals – Lufthansa, Continental, Rubbermaid & Keebler (trends, general information & presentation templates) –Selling center - a team of all who participate The _______________ –Prospect company’s own Web page –Personalized Web pages –Hoovers, JustSell.com, etc. _______________________________ 8-38 Sources of Information McGraw-Hill/Irwin

Each key account contact –_____________________________________________ –____________________________ ____________________________ Featuring: Bob talking about what he does before an important call. 02

8/29/ ______________________________________i s the first step in the sales process. Not all sales leads qualify as ______________. Many methods can be used to locate prospects. –The best source is a _________________________. Effective prospecting requires a ______________________________________t hat hinges on developing a lead qualification and management system and overcoming reluctance to prospect Summary McGraw-Hill/Irwin