chap007 - selling

8/13/2019 Chap007 - Selling

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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

Some questions answered inSome questions answered inChapter 7Chapter 7

Why is prospecting important foreffective selling?

Are all sales leads good prospects?What are the characteristics of aqualified prospect?

How can prospects be identified?

How can the organizationspromotional program be used inprospecting?

How can an effective leadqualification and managementsystem aid a salesperson?

How can a salespersonovercome a reluctance to prospect?


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

DefinitionsDefinitions

Prospecting:

Prospecting is the process of locating potentialcustomers for a product or service.

Lead:

A lead is potential prospect, a person ororganization that might or might not be a true

prospect.Prospect:

A prospect is a potential customer, a person or

organization that might be a true customer. If thelead is a good candidate for making a sale.

Customer:

If the prospect is committed to a certain course ofaction (e.g.) places an order.


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

Steps in the selling processSteps in the selling process

Prospecting

Collecting pre-call information

Making the approach

Discovering needs

Making the presentation

Responding to objections

Obtaining commitment

Follow up

.............................Lead

..............Prospect

......Customer

Exhibi t 7.1


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

Am I a prospect?Am I a prospect?

Do I have a want or a need that the

purchase of the salesperson's productcan satisfy?

Do I have the ability to pay?

Do I have the authorityto buy?

Can I be approached

favorably?

You need to answer 5 questions:

Am I eligible to buy?


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

Sources of LeadsSources of Leads

Satisfied customers

Endless-chainCenter-of-influence

Networking

Promotional activities

Lists and Directories

CanvassingSpotters

Telemarketing

Sales letters


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

Sources of leads: satisfied customersSources of leads: satisfied customers

Satisfied customers

1. Current customers

2. Previous customers

It is the most effective source of leads.

They provide additional business, sales, inaddition refer the seller to other leads.

The name of a lead provided by a customer is

called referred lead and considered to be themost successful type of prospecting. Why?


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

Sources of leads: endlessSources of leads: endless--chainchain

Exhibi t 7.3

Wayne OSullivanContractor

Elizabeth ShickBanker

Steve Jones

Barnett Bank

Linda Clinton

Lawyer

Mary SwainAdministrator

Ronald DeckAccountant

Linda Strand

Contractor

David Craig

Engineer

Frank Hartjen

Lawyer

Jim Smith

County Schools


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

Sources of leads: centerSources of leads: center--ofof--influenceinfluence

Information flowsInfluence flows

Eagles

Bell cows

Opinion leaders

They may never buy


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

Sources of leadsSources of leads

1. Lists and directories

2. Center-of-influence

3. Cold calls, canvassing

4.Letters

5. Promotional activities

Assume you are prospecting for a job

when you graduate. Which of these

methods would be most useful?


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

Sources of leadsSources of leads

Additional sources of leads:

1. Satisfied customers

2. Endless chain

3. Networking4. Internet

5. Shows (job fairs)

6. Spotters (employment agencies)


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

Prospect listsProspect lists

Assume you belong to asocial organization oncampus that needs to

recruit new members.How would you developa prospect list?

North America Industry ClassificationNorth America Industry Classification


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

North America Industry ClassificationNorth America Industry ClassificationSystem (NAICS)System (NAICS)

NAICS provides common industry definitions for

Canada, Mexico, and the U.S. which facilitate the

measurement of economic activity in the threemember countries of NAFTA.

NAICS is replacing the Standard Industrial

Classification System, a system which had been inplace for more than 50 years.

NAICS is consistent with theInternational Standard

Industrial Classification of All Economic Activities,published by the United Nations, to facilitate

measurement of global economic activity.

North America Industry ClassificationNorth America Industry Classification


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

North America Industry ClassificationNorth America Industry ClassificationSystem (NAICS)System (NAICS)

Broadcasting and

telecommunications

Radio and television

broadcastingWire

telecommunications

carriers

Paging

Cable networks and

program distribution

Telecommunications

Wireless

telecommunication

carriers, except

satellite paging

Telecommunications

resellers

Satellite

telecommunications

Other

telecommunications

Cellular and other

wireless

telecommunication

2 DigitIndustry Subsector

3 DigitIndustry Group

4 DigitIndustry

5 Digit U.S.National Industry


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

Using NAICSUsing NAICS

Assume you are about to graduate from

college.How would you use the NAICS system tohelp you locate prospective employers?

P i l i i iP ti l ti iti


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

Promotional activitiesPromotional activities

AdvertisingCatalogues

Direct mail

Trade shows

Seminars

PublicityTelemarketing

Di t ilDi t il


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

Direct mailDirect mail

Using inquiriesDirect mail and request foradditional information

Covering letter with informationand bounce-back card

Advertisement in a tradepublication (e.g.) magazine

ShSh


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

ShowsShows

Trade shows computer, furniture,car, .

Conventions medical, NGOs, Fairs book, mobile,

Ch tCh t

S iS i


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

SeminarsSeminars

Industrial marketers

Pharmaceutical companiesElectronic communicationequipment companies

Ch tCh t

Li t d di t iLi t d di t i


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

Lists and directoriesLists and directories

Professional membership listssyndicate

Trade membership lists

Club membership lists

Chamber of commerce directories

Telephone directories

Industrial directoriesNewspapers

Internationally: procuring lists

ChapterChapter

C iCanvassing


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

CanvassingCanvassing

Cold calls or cold canvass calls

Blitz or crash campaign

ChapterChapter

R l i fli ti d iResol ing conflicting ad ice


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

Resolving conflicting adviceResolving conflicting advice

Assume your company sends you, via

email, the names and addresses of

leads who registered with your firms

web site that day. All of the leads sent

are in your territory and your firm

expects you to quickly follow-up with

these leads.However, your sales manager suggests

that such leads are a waste of time.

S/he instructs you to make cold callsinstead, saying Cold calling got me

where I am today. It will for you too!

What would you say in response?

ChapterChapter

SpottersSpotters


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

SpottersSpotters

Bird dogs

Consultants outside paid

ChapterChapter

TelemarketingTelemarketing


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

TelemarketingTelemarketing

Telephone

Electronic media

Outbound telemarketing

Inbound telemarketing

Importance of active listening

Limitations of telephone prospecting!

Tie-in with other tool

ChapterChapter

Sales lettersSales letters


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

Sales lettersSales letters

The opening paragraph gainattention

The body of the letter presentbenefits

The final paragraph seek action

Limitations of sales letters!!

Promotional item with the mailer

ChapterChapter

Other sources of leadsOther sources of leads


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ChapterChapter77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

Other sources of leadsOther sources of leads

Trade journals

General business publicationsLocal newspapers

Non-sales employees in the same

firm

Non-competing salespeople

Social clubsProfessional trade publications

ChapterChapter

Getting the most out of prospectingGetting the most out of prospecting


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Chapterp77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

Getting the most out of prospectingGetting the most out of prospecting

Learn to effectively qualify andevaluate prospects. Remember the20% - 80% ratio. Categorize them.Classify them A, B, C,. Segmentthem. Not all sales leads are good

prospects.Keep good records. Reporting data.

Keep quotas. Prospecting is acontinues process.

Evaluate results. Select the most

profitable. Use effective leadqualification and management system.

ChapterChapter

Overcome reluctance to prospectingOvercome reluctance to prospecting


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pp77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

Overcome reluctance to prospectingOvercome reluctance to prospecting

Listen to the excuses of othersalespeople

Identify the excuse you useEngage in role-playing

Have someone accompany youMake calls without your supportingpartner

Re-enact the call in front of a group

Set specific goals

Recount your own success

ChapterChapter

Any questions about the terminology?Any questions about the terminology?


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pp77

Questionsanswered

What isA prospect?

Sourcesof leads

NAICS

Conflictingadvice

Terminology

Any questions about the terminology?Any questions about the terminology?

Banner advertisingBird dogBlitzBounce-back card

Buying communityCenter-of-influence methodCold callCold canvass method

DatabasesData miningEndless-chain methode-sellingExclusive sales territoriesHouse accountsInbound telemarketingLeadLead management system

Lead qualification system

NetworkingNorth America IndustryClassification System(NAICS)

Outbound telemarketingPostcard packPrequalificationProspectProspecting

Qualifying a leadReferred leadSearch enginesSelling deeper

spamSpotterStandard IndustrialClassification (SIC)Systems integrator

Telemarketing

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