1. Ch. 7 Prospecting—The Lifeblood of Selling Chapter 7 Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin

2. 7-2 Exhibit 7-1: The Selling Process Has 10 Important Steps 10. Follow-up 10. Follow-up 9. Close 9. Close 8. Trial close 8. Trial close 7. Meet objections 7. Meet objections 6. Determine objections 6. Determine objections 5. Trial close 5. Trial close 4. Presentation 4. Presentation 3. Approach 3. Approach 2. Preapproach/planning 2. Preapproach/planning 1. Prospecting 1. Prospecting The sales process is a sequential series of actions

3. 7-3 Some Prospect, Some Do Not  Many salespeople prospect, both those selling business-to-business and those selling to consumers

4. 7-4 Prospecting–The Lifeblood of Selling  Qualified prospect is MAD  Money  Authority  Desire

5. 7-5 Steps Before the Sales Presentation  Prospecting > appointment > planning  Rule of thumb  40% preparation  20% presentation  40% follow up

6. 7-6 Prospecting–The Lifeblood of Selling  Prospect –  Prospecting –  Lead – might be a prospect

7. 7-7 Where to Find Prospects  Sources: industry directories,  Persons selling different services and goods might not use the same sources

8. 7-8 Planning a Prospecting Strategy  Prospecting requires a strategy that can be constantly improved

9. 7-9 Prospecting Methods  E-prospecting on the Web  Individuals  Organizations  Cold canvassing: 1/10 cold calls  Endless chain – customer referral  Orphaned customers: salesperson left  Sales lead clubs

10. 7-10 Prospecting Methods, cont…  Prospect lists  Center of influence  Direct mail  Telephone and telemarketing  Networking

11. 7-11 Prospecting Guidelines  Three criteria are: 1.Customize 2.Concentrate 3. Call back  Always keep knocking on prospect’s and customer’s door to help them