prospecting and profiling

8/20/2019 Prospecting and Profiling

1/20

Prospecting, Profiling and

Closing the Business


2/20

PRESENTATION PURPOSE

– Define basic types & needs of prospects by channel, retail, and

wholesale.

– Understanding and selling to the needs of your customers through

profiling.

– Setting yourself apart through value.

– Closing the deal by earning the right to ask for the business.

– Overcoming objections.


3/20

CUSTOMER TYPE

Customer type by core product distribution

Channel customer type core products levels of dist.

Consumer Home office/Student Inkjet/TFR/Entry Mass MerchantLaser based MFP Office superstore

Computer retailer Consumer electronics

SOHO Dr/Dentist office Entry level Laser Same as consumer Strip mall business Entry level color Discount warehouses

Entry level MFP Catalog (CDW/Tiger)Medium size Car Dealership Midrange color Same as SOHOBusiness Home Depot (Hp 3700) Catalog stationers

Mid range MFP Superstore websites(HP 4345)

Large Business Hospital High speed Same as Med businessInsurance monochrome/ Contract service

Mortgage color/MFP(HP9000/5500T634)

Departmental General Motors HP 9500 Contract serviceGeneral Electric Phaser 7700 OEM contract

Network MFPDigital copiers


4/20

CUSTOMER NEEDS: RETAIL

Customer Type Main Need

– Consumer Price and convenience

– SOHO Price/delivery/maintenance

– Medium business Price/delivery/printer

recommendationsService/maintenance

– Large business TCO package

Cost per copy bil ling

– Departmental TCO packageVendor handles all aspects of

printing needs


5/20

CUSTOMER NEEDS WHOLESALE

Customer type Main needs

– Toner/IJ remanufacture product quality/shipping

Times

– Dealer of imaging consumables/internet Latest product availability

– Reman/compatible/OEM Drop shipping

– Service provider/dealer/remanufacture Service tools (PrintFleet)

Service products (fusers)

– Large wholesale remanufacture selling into Product availability

Any of the above channels pr ice

Working closely with NPD

Team


6/20

PROFILING

Understanding Your Customer Needs

By definit ion a profile is: A formal summary or analysis of data, representingdistinctive features or characteristics.

In the world of professional sales profiling means: Asking the correct set of

questions that allows your prospect to effectively communicate their needs.

– A profile should contain all pertinent information to understand what

products/services you provide that will benefit your prospect.

– The profile is the most important tool to open and grow your business

relationship with your potential customer.

– The more you know about your customer, the more you will be become a value

added resource.


7/20

PROFILING

Investigating before profiling

In our age of information sharing the internet can provide valuable information

about your prospect such as:

– Business model

– Locations

– Years in business

– Decision makers

– Products sold

– Mission statement

The more knowledgeable you are about your prospect before you makecontact, the more value you can bring immediately.


8/20

BASIC PROFILE SHEET: RETAIL

See Handout of Retail profiling

– Contact information

– Business information

– Printing Needs

– Purchasing habits

– New product needs

– Follow up


9/20

BASIC PROFILE SHEET: WHOLESALE

See Handout of Wholesale Profiling

– Contact information

– Business information

– Types of products and services

– Purchasing habits

– New product needs

– Follow up


10/20

PROFILING TRENDS

Profiles should be analyzed and broken down based on

information such as

– Customer type

– Products sold

– New product development

– Service programs

– Current vendors

– Locations

This type of information is an invaluable tool that wil l help you and your company

determine what new product offerings, services, and other value added benefits should be

proactively released. Furthermore, trends will help steer you, and your company away

from issues your prospects find unfavorable with their current vendor.


11/20

VALUE: SETTING YOURSELF APART

– Value by definition is: A standard or principle

regarded as desirable or worthwhile.

– In the world of professional sales it means: To

separate yourself from the competition throughproviding solutions based on understanding your

customers needs.


12/20


Characteristics of bringing Value - the great 8

Reliability:- Do you do what you say you will do?

Knowledge:

- Are you in touch with the happenings in your industry?

- Are you a master of your product?

Availability:

- Are you easily available to your customers by phone/fax/email?

- Do you make yourself available in person to handle pressing issues?

Authority:

- Are you a leader with in the industry?


13/20


Characteristics of bringing Value - the great 8

Partnership:

- Do you bring the concept of a long term relationship through developing new products/programs that handleyour customers particular needs?

- Do you bring new ideas to the table that will increase your customers Product of fering?- Do you have an understanding of your customers vision and address it w ith value added benefits?

Personality:

- Do you have the personality that screams: “ I love talking to this person”? A national survey showed 83% ofpurchasing managers would switch vendors if they found someone they enjoyed dealing with.

Manage Expectations:

- Do you give your customer real expectations even it means taking the risk of losing a particular product

or order?- Do you under promise and over deliver?

Dedication:

- Are you dedicated to doing whatever it takes to represent you and your company in a professional manner?


14/20


Value-Networking/Selling your company

– The more value you bring to your customers, the more they will look to you for solutions. As such, a

network of referral partners is necessary. The following needs to be understood when referring yourcustomer to another source for products/services you don’t handle.

- Quality

- Demeanor

- locations

- Availability- Terms

– While referring customers is an excellent way of bringing value, your customer expects you to send them

to a business of high value as well.

– If you know the only company that can handle their needs is not one of high value, tell your customer and

let them make the decision. Your referrals speak directly to your knowledge, and understanding of theindustry.


15/20


Selling your company

No one sales rep can do i t all.

– While it is important to bring individual value to your customer, equal effort

needs to be placed on selling the value of your company as well.

– Do you do the following:- Refer customers to your company’s experts in other areas?

- technical

- marketing

- engineering

- Inform these groups about all aspects of your account?

- Conduct meetings with these groups, and your customers to find solut ions


16/20

ASKING FOR THE BUSINESS

Earning the right to ask for the business

– Ask yourself the following:

- Why would I buy from me, and my company?

- Do I have a clear understanding of my customers needs?

- Do I have a clear understanding of how my products and services will benefit the

needs of my customer?

- Do my products, services, and representation bring equal or more value than mycompetitor?

- Have I established myself, and my company as a viable partner?

If you answered yes to these questions, then you’ve earned the right

to ask for your customers business.


17/20

ASKING FOR THE BUSINESS

– #1 reason sales people don’t get the business: They didn’t ask

for it.

– #1 reason sales people don’t ask for the business: They

assume after hard work and good representation the customer

is going to hand over the order .

– Nothing is ever solidified until you ask and a response is given.

– Whether the answer is “ Yes” , “No” , or “We’ll get back to you” the sales rep

doesn’t know where they stand until they ask.

– If you don’t ask, the answer is almost always “ No.”


18/20

OVERCOMING OBJECTIONS

“ An objection is not a rejection; it is simply a request for more information.”

-- Bo Bennet. – Defini tion of Objection: A barrier that exists between your services and the perceived value from your

prospect. In other words your value has not been fully recognized.

– Steps to handle objections.

– Define the objection.

– Listen to the objection-don’t interrupt.

– Ask questions to clarify the objection.

– Propose your resolution, respond directly to the objection-don’t get long winded on another topic.

– Ask if the solution satisfies the objection.

First and foremost you must define the objectionto understand how to respond to it.


19/20

OVERCOMING REJECTIONS

Overcoming objections-money related

– “ Your price is too high!” … What the customer is really saying: “ I don’t see the value in your product or

service.”

– A potent ial customer will always resort to pr ice as your barr ier when it’s often another issue.

– Ask this: “ If money were no object would we become your vendor , service provider?” This quest ion will

bring out any issues not related to money.

– If money is the issue, ask: “ What is a fair value for my product/service?” This question w ill eliminate a

price game, and let you know i f your prospect is serious about you as a potential vendor.

At the end of the day, you as a professional need to determine if your

prospect is a bad fit for you and your company. Walking away from abad deal keeps the integrity of your value intact.


20/20

SUMMARY

Professional sales is a game of identifying, understanding, representing, and

rapport building through bringing value. You and your company’s success rest

in your commitment to sell as you would want to be sold to.

– Prospecting: Looking in the right places.

– Profil ing: Understanding their needs.

– Value: Setting yourself apart.

– Earning the right: Would I buy from me?

– Objections: Do you and your prospect understand each other?

prospecting and profiling

Documents