1. Prospecting and Pre-approach

2. 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

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

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

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

6. 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

7. 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

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

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

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

11. Qualified Prospects . . . Can benefit from the sales offering
Have the financial ability 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

12. 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

13. 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.

14. 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

15. 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

16. 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

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

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

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

20. 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

21. 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

22. 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.

23. Addressing Concerns and Earning Commitment

24. Objection (Sales Resistance)
Anything the buyer says or does that slows down or stops the buying process.

25. Reasons Why Prospects Raise Objections
The prospect wants to avoid the sales interview.
The salesperson has failed to prospect and qualify properly.
The prospect resists change.
The prospect fails to recognize a need.
Prospect lacks information.

26. Major Categories of Objections
Examples
Need
I have all I can use.
I don’t need any.
The equipment I have is still good.
I’m satisfied with the company we use now.
We have no room for your line.

27. Major Categories of Objections
Examples
Need
Product or Service Features
I don’t like the design, color, or style.
Maintenance agreement should be included.
Performance of product is unsatisfactory.
Packaging is too bulky.
Specifications don’t match what we have now.
The product is poor quality.

28. Major Categories of Objections
Examples
Need
Product or Service Features
Company or Source
Your company is too small to meet my needs.
I’ve never heard of your company.
Your company is too big; I’ll get lost in the shuffle.
How do I know you’ll be around to take care of me in the future?
Your company was recently in the newspaper. Are you having problems?

29. Major Categories of Objections
Examples
Need
Product or Service Features
Company or Source
Price
We can’t afford it.
I can’t afford to spend that much right now.
That’s 30% higher than your competitor’s comparable model.
We have a better offer from your competitor.
I need something a lot cheaper.
Your price is not different enough to change suppliers.

30. Major Categories of Objections
Examples
Need
Product or Service Features
Company or Source
Price
Time
I need time to think it over.
Ask me again next month when you stop by.
I’m not ready to buy yet.
I haven’t made up my mind.
I don’t want to commit myself until I’ve had a chance to talk to engineering.

31. LAARC Method for Handling Buyer Resistance
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32. Other Methods for Handling Buyer Resistance
Forestall
What you do:
Introduce the source of the objection before the prospect brings it up.

33. Other Methods for Handling Buyer Resistance
Forestall
Direct Denial
What you do:
Respond to the objection by telling the prospect s/he is wrong.

34. Other Methods for Handling Buyer Resistance
Forestall
Direct Denial
Indirect Denial
What you do:
Respond to the objection by providing evidence that helps the prospect realize s/he is mistaken.

35. Other Methods for Handling Buyer Resistance
Compensation
What you do:
Counterbalance the objection with an offsetting benefit.

36. Other Methods for Handling Buyer Resistance
Compensation
Question
What you do:
Ask the buyer assessment questions to gain a better understanding of the source of the objection.

37. Other Methods for Handling Buyer Resistance
Compensation
Question
Third Party Reinforcement
What you do:
Use the opinion or data from a third party source to help overcome the objection and reinforce the salesperson’s points.

38. Guidelines for Earning Commitment
Resolve “Red Light” Statements Made by the Prospect
I’m not sure that will work.
The price is higher than I thought it would be.”

39. Guidelines for Earning Commitment
Look for Commitment Signals
“I like that size.”
“I didn’t realize you deliver everyday.”
Ask Trial Commitment Questions
“What do you think about the what we’ve discussed?”
“Do you see how this will help your organization?”

40. Techniques to Earn Commitment
Ask for the Order/Direct Commitment
Legitimate Choice/Alternative Choice
Summary Commitment
Success Story Commitment

41. Objection Handling & Closing Techniques

42. Question Right for Sales Success
When working with a new prospect, don’t you agree you should try for several minor yes’s before you go in for a big ‘Yes’.
That’s what ‘Tie-downs’ are.
There are four types of Tie downs.
Let’s look at these individually.

43. Standard Tie Downs
This Tie down is used at the end of the sentence, as “Fuel economy is very important today. Isn’t it?”
If what you say represents truth, won’t that person respond by agreeing?
And when they agree that some quality of your products or services meet their needs, they have moved closer to buying it, haven’t they? 
Examples:
Aren’t they?
Don’t we?
Isn’t it?
Don’t you agree?
Can’t you?

44. The Inverted Tie Down
For variety and more warmth, put the tie down at the beginning of the sentence.
A champion uses different types of Tie Downs without lessening his concentration of the client.
This skill demands continuous rehearsal.
So, many progressive companies are using computers today, aren’t they? would change to:
Aren’t a lot of progressive companies using computers today? today?

45. Internal Tie Down & Tag On Tie Down
Once you get a feel of it, can’t you really control it well?
Prospect: Reducing the waste is important.
Seller: So putting this system in place wouldn’t reduce the waste by 10%?
One should have a good mix of different Tie Downs as a part of your sales vocabulary.
You can keep building on it based on the products or services that you are selling.
Practise your Tie Downs anytime and every time.

46. Another Technique – Alternate Advance
It is a question that suggests two answers.
Both of which confirm that your prospect is going ahead.
If you ask him a question that results in a ‘No’, ninety per cent of the time it will be ‘No’
“Could I come by this afternoon?”
Answer, “No.”
“I’ll be in your area this afternoon. Which would be a more convenient time for you. Around 2 o’clock, or you would prefer if I waited until 3?”

47. The Porcupine Technique
It is a technique of answering a prospects question with a question of your own, that maintains your control of the interview, and allows you to lead into the next step of your selling sequence.
Prospect: “Will this insurance policy have a cash value?”
Seller: “Is having a cash value in the policy one of your concerns?”
Prospect: “Definitely not. I don’t want to pay anything extra for the cash value.”
It’s definitely vital to find out things like this. If any sales man tried to sell cash value to this client, he would kill the sale.
Cash value isn’t something that this prospect will pay money for, because for him, it is not a benefit.
Sell him term, and other benefits.

48. Most sales people “tell”. They don’t listen
Most sales people “tell”. They don’t listen. Only through questioning can you listen carefully.
And only through listening, can you understand what matters to the client most, and pitch to him accordingly.

49. Questioning is the Key to Success
Most champions use two basic types of questions:
Discovery
Leading
Let’s look at an example in retail.
“May I help you?”
“No thanks. I’m just looking.”
Most sales people on the retail level ask that question, and get the same answer 50 times a day for 50 years. That’s why they keep selling pins and ribbons all their lives.
“Good morning. If you have any questions, just let me know. In the mean time, please feel free to look around all you would like.”
“Uh…I was wondering. Do you have…..?”

50. Questioning is the Key to Success
“You’re interested in quality in the product you’re looking for, aren’t you?”
“If you needed it, you would like everything on the warranty to happen, wouldn’t you?”
“A reputation for professionalism is important, isn’t it?”
A champion doesn’t tell people things, he asks questions.
Ask questions to:
Reveal benefits
Understand needs
Understand concerns
Understand value
Affirm their belief

51. Points to Ponder in Questions
You ask questions to gain control.
You ask questions to indicate broad areas of interests and benefits.
You ask questions to get the minor ‘Yes’s’.
You ask questions to isolate objections.
You ask questions to acknowledge a fact.
You ask questions to listen to the client more and pitch accordingly.

52. Creating the Selling Climate
Positive emotions create sales, negative emotions destroy sales.
Let’s look at an example:
Picture yourself walking into a showroom with your spouse. The sales person on duty meets you – “Hi. I’m Pat. Nice of you to come in Sir, hello, nice of you to join him Ma’am. You’re husband and wife? Good looking couple. How are you doing today?”
If a stranger opened up to you like that, what would you feel:
Fear
Anger
Disgust
This crocodile is out to get us

53. Creating the Selling Climate
Everything you say creates images in the minds of the buyer.
One thoughtless comment can destroy your chances of selling.
Look at Pat. He was trying to be nice, but see how he came across.
Always be professional when meeting new people.
The champion knows he needs to create positive images more than anything else.
REPLACE REJECTION WORDS WITH GO AHEAD TERMS
A rejection word is any word that triggers fear, or reminds prospects that you are trying to sell to them.
If you use rejection words in sales, you don’t need enemies.