1. Prospecting and Pre-approach
Module Five
Prospecting and Pre-approach

2. Improving Productivity Through Prospecting An Expert’s Viewpoint:
“. . . BMC Software developed a comprehensive prospecting process that treats the generation of sales leads and qualification of prospects as an ongoing sales strategy ”
Action

3. Improving Productivity Through Prospecting An Expert’s Viewpoint:
Result
“ This comprehensive screening system not only improves the closing ratio of BMC’s salespeople and account managers, but also has a positive influence on customer satisfaction and retention by better assuring the right match between customer needs an company solutions.”

4. Why Buyers Won’t See Salespeople
They may have never heard of the salesperson’s firm.
They may have no need; they just bought the product category.
The buyer may have their own deadlines on other issues.
Buyers are constantly getting calls from salespeople and do not have the time to see them all.
Gatekeepers in any organization screen their bosses’ calls and are often curt and even rude.

5. Screening Procedures for Qualifying Leads
Prospecting
The process of identifying, qualifying, and prioritizing organizations and individuals that have the need for and potential to purchase the salesperson’s market offering of products and services.
Qualified Prospects
Sales Leads
Screening Procedures for Qualifying Leads

6. Prospecting Plans are the Foundation for Effective Prospecting
Set Goals
Establish daily, weekly and monthly quotas for acquiring new prospects

7. Prospecting Plans are the Foundation for Effective Prospecting
Set Goals
Allocate Time
Establish a regular daily schedule for conducting prospecting activities.

8. Prospecting Plans are the Foundation for Effective Prospecting
Set Goals
Allocate Time
Track your results from using the different prospecting methods.
Keep Records

9. Prospecting Plans are the Foundation for Effective Prospecting
Set Goals
Allocate Time
What is working for you? Compare results and use the methods that work best for you.
Keep Records
Evaluate

10. Prospecting Plans are the Foundation for Effective Prospecting
Set Goals
Allocate Time
Develop confidence by knowing your products and believing that you offer the best solutions.
Keep Records
Evaluate
Stay Positive

11. Popular Prospecting Sources & Methods
External Sources
Referrals
Introductions
Community Contacts (Centers of Influence)
Organizations
Non-competing Salespeople
Visible Accounts

12. Popular Prospecting Sources & Methods
Internal Sources
Company Records
Lists and Directories
Advertising Inquiries
Telephone Inquiries
Mail Inquiries
Internet or World Wide Web

13. Popular Prospecting Sources & Methods
Personal Contact
Observation
Cold Canvassing
Trade Shows
Bird Dogs (Spotters)

14. Qualified Prospects . . . Can benefit from the sales offering
Have the financial wherewithal to make the purchase
Play an important role in the purchase decision process
Are eligible to buy based on a fit within the selling strategy
Are reasonably accessible and willing to consider the sales offering
Can be added to the customer base at an acceptable level of profitability

15. Importance of Effective Prospecting
Many Leads
Few Qualified Prospects
Suppose it takes 10 leads to generate one qualified prospect
One Customer
100 Leads
It will take 100 leads to generate one customer
Many Qualified Prospects
Few Customers
And suppose it takes 10 qualified prospects to generate one customer

16. Importance of Effective Prospecting
One Customer
50 Leads
The better the lead generation method, the higher the proportion of qualified leads.
The more accurate the qualifying process, the higher the proportion of customers per qualified lead.

17. Gathering Precall Information: The Prospect
The prospect’s name and title
Info Needed
Correct spelling and pronunciation can be gathered by asking the receptionist or secretary or gatekeeper to verify information.
Source

18. Gathering Precall Information: The Prospect
Is this prospect willing to take risks? Are they confident with their decision making?
Info Needed
Source
May have to ask the prospect

19. Gathering Precall Information: The Prospect
Is the buyer involved in their community? Do they belong to clubs or professional organizations?
Info Needed
Observe club or organizational honors displayed in the office.
Source

20. Gathering Precall Information: The Prospect
Does the prospect have hobbies or interests they are proud of?
Info Needed
Source
Observation of office.

21. Gathering Precall Information: The Prospect
What is the prospect’s personality type? Easy going? All business?
Info Needed
Observation and experience with buyer.
Source

22. Gathering Precall Information: The Prospect
Where did this prospect grow up? Where were they educated?
Info Needed
Source
Look for diplomas. Ask.

23. Gathering Precall Information: The Prospect’s Organization
What type of business are we dealing with?
Info Needed
Can be gathered from a directory and company web site.
Source

24. Gathering Precall Information: The Prospect’s Organization
To what market does the company sell?
Who are its primary competitors?
What does the company make and sell?
Info Needed
Annual reports and company web site.
Source

25. Gathering Precall Information: The Prospect’s Organization
Who and how many vendors does the prospect presently buy from?
How much and how long have they been purchasing from their supplier(s)?
What challenges is the organization facing?
Info Needed
Source
Salesperson may have to ask for this information.