1. Prospecting—The Lifeblood of Selling
Chapter 7
Prospecting—The Lifeblood of Selling

2. Chapter 7

3. Building Relationships through the Sales Process
1. Prospecting
The sales process is a sequential series of actions:
2. Preapproach - planning
3. Approach
4. Presentation
5. Trial close
6. Determine objections
7. Meet objections
8. Trial close
9. Close
10. Follow-up

4. Ten Important Steps in the Customer Relationship Selling Process
1. Prospecting. Locating and qualifying prospects.
2. Preapproach. Obtaining interview. Planning: determining sales call objective, developing customer profile, customer benefit program, and sales presentation strategies.
3. Approach. Meeting prospect and beginning customized sales presentation.
4. Presentation. Further uncovering needs; relating product benefits to needs using demonstration, dramatization, visuals, and proof statements.
5. Trial close. Asking prospects’ opinions during and after presentation.
6. Objections. Uncovering objections.
7. Meet objections. Satisfactorily answering objections.
8. Trial close. Asking prospect’s opinion after overcoming each objection and immediately before the close.
9. Close. Bringing prospect to the logical conclusion to buy.
10. Follow-up and service. Serving customer after the sale.

5. The Concept of Prospecting
“I’d rather be a master prospector than be a wizard of speech and have no one to tell my story to.” -Paul J. Meyer
A salesperson without prospects is out of business
A salesperson without prospects can no more close a sale than a surgeon without a patient can operate
Prospects are everywhere - develop ways to find them

6. Qualifying the Prospect
Moving from a “lead”, to a qualified prospect
Lead - is just a name
Prospect - researched for money, and authority, and desire.
Qualified prospect - evaluated prospect along with personal information

7. Cultivate prospects who pass the MAD test:
oney
uthority
esire
MAD

8. Methods of Prospecting
Why we lose customers
Customer’s company goes out of business
Competitor takes your customer
Customer moves or dies
Merger or downsizing
Customer-salesperson relationship deteriorates
Referrals
Have person make the initial contact for you
Learn how to ask for a referral!
Why people don’t give referrals
Referrals tend to be horizontal

9. Methods of Prospecting
Centers of Influence
Believes in you and what you are selling
Is influential with a significant number of people
Is willing to give you names on a regular basis
The names given to you are at least partially qualified prospects
Group Prospecting
Follow up with interested prospects
Trade shows, speaking engagements

10. Methods of Prospecting
Planned Cold Calling
At least one out of seven will be receptive
Treat cold calls as a supplement. Don’t neglect other techniques
Preplan cold calls
Limit waiting - 15 minutes is a good gauge!
Remain enthusiastic

11. Methods of Prospecting
Direct mail or fax
Prospects do read well-targeted direct mail
Mailing is only as good as the list
Sources of lists to consider:
Membership rosters
City directories
Yellow pages
White pages
Religious groups
Past customers
Create your own newsletter

12. Observation - prospects are everywhere
Always be looking
Read the newspaper and selected magazines
Trade journals

13. Methods of Prospecting
Joining Civic Groups
Carefully select the groups you join
Work for positive visibility
Set contact goals for each organization meeting
Maintain an information file on the contacts made in each organization
Use “remeet” goals to help you develop closer relationships with people
Use active listening to learn more about the financial goals and needs of others
Look for appropriate opportunities for further business-oriented discussions

14. Networking - active cooperation, i.e. ‘tips’
Methods of Prospecting
Networking - active cooperation, i.e. ‘tips’
There are formal groups that you can join
Sharing information makes good sense
Using Directories - Goldmines if used correctly
Moody’s Industrial Manual
Poor’s Register of Directors and Executives
The Dun and Bradstreet Reference Book
The Thomas Register of American Manufacturers
Contacts Influential

15. Company Initiated Prospecting
Methods of Prospecting
Company Initiated Prospecting
Telemarketing Activities
Advertising Response
Direct Mail
Newspaper
Past Customers
Go over list of inactive accounts
Develop and create a Web site
Streamline the sales process
Affiliate program marketing
Turn web leads into online sales

16. Methods of Prospecting
Trade Shows
Selecting the right trade show is critical
On the spot sale versus lead generation
Pre-show training and post-show follow-up
Display planning to get high visibility
Staffing the booth to handle information

17. Methods of Prospecting
E-prospecting
Sales leads
snowboarding trade magazine

18. What methods will YOU use?
Methods of Prospecting
What methods will YOU use?