1. The Lifeblood of Selling
Chapter 6
Prospecting ~
The Lifeblood of Selling

2. Learning Objectives After studying the chapter, you should be able to
Define the sales process
List its 10 steps in correct sequence
Describe the prospecting methods
Ask for a referral anywhere during the referring cycle
Qualify a prospect

3. 6 Agenda Chapter 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

4. 6 Agenda Chapter The Referral Cycle Call Reluctance Costs You Money!
Obtaining the Sales Interview
Wireless

5. The Sales Process Has 10 Steps
Prospecting
Determine the Objectives
Preapproach
Meet objections
Approach
Trial close
Presentation
Close
Trial close
Follow-up

6. Exhibit 6-1: The Selling Process Has 10 Important Steps

7. Exhibit 6-2: Before the Sales Presentation

8. Steps Before the Sales Presentation
Prospecting appointment planning
Rule of thumb
20% presentation
40% preparation
40 % follow-up

9. 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?

10. Where to Find Prospects
Sources may be varied or few
Persons selling different services and goods might not use the same sources

11. Planning a Prospecting Strategy
Requires a strategy
A skill that can be constantly improved

12. Exhibit 6-4: Prospecting Methods that Work!

13. Prospecting Methods E-prospecting on the Web Cold canvassing
Individuals
Organizations
Cold canvassing
Endless chain—customer referral
Orphaned customers
Sales lead clubs

14. Prospecting Methods cont…
Prospect lists
Become an expert—get published
Public exhibitions and demonstrations
Center of influence
Direct mail
Telephone and telemarketing
Observation
Networking

15. Exhibit 6-5: The Processing System Within a Telemarketing Center

16. Exhibit 6-6: Reports From a Telemarketing Center to Other Marketing Groups Within the Firm

17. Prospecting Guidelines
Three criteria
Customize
High potential customers
Call back
Referrals used in most prospecting methods – reputed to be the most effective

18. The Prospect Pool
Prospect pool
Leads
Referrals
Orphans
Your customers

19. Exhibit 6-7: Components of the Prospect Pool

20. The Referral Cycle
Obtaining referrals is a continuous process without beginning or end
Referral cycle
The parallel referral sale

21. 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

22. Exhibit 6-8: The Referral Cycle: When to Ask for Referrals

23. 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

24. 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

25. Summary of Major Selling Issues cont…
Popular prospecting methods
Cold canvas
Referrals
Endless chain methods
Public exhibitions and demonstrations
Locating centers of influence
Direct mailouts
Telephone and observation
Salesperson must develop ways of getting to see the prospect

26. Notes: