Prospecting Skills

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Rajesh gabriel Content PROSPECTING SKILLS

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Transcript of Prospecting Skills

Page 1: Prospecting Skills

Rajesh gabriel Content

PROSPECTING SKILLS

Page 2: Prospecting Skills

LEARNING OBJECTIVES

Discuss the importance of developing a prospect base

Identify and assess important sources of prospects

Describe criteria for qualifying prospects

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Page 3: Prospecting Skills

LEARNING OBJECTIVES

Explain common methods of organizing prospect information

Describe the steps in managing the prospect base

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PROSPECT, PROSPECTING, AND PROSPECT BASE DEFINED Prospect: a potential customer that meets

the qualification criteria established by your company

Prospecting: identifying potential customers Prospect base: is made up of current

customers and potential customers

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Page 5: Prospecting Skills

IMPORTANCE OF PROSPECTING

Every salesperson must cope with customer attrition: Customer may have a one-time need Customer may move outside the salesperson’s

territory Firm may go out of business or merge Sales may be lost to the competition

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PROSPECTING REQUIRES PLANNING

Increase number of people visit by increasing cold calls

Improve the quality of prospects Shorten sales cycle by determining which

prospects are “qualified” Prospecting plans must be monitored continuously

for effectiveness

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SOURCES OF PROSPECTS

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Referrals Centers of influence Directories Trade publications Trade shows and

special events Telemarketing and e-

mail Direct-response

advertising and sales letters

Website Computerized

database Cold calling Networking Educational

seminars Prospecting by

non-sales employees

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REFERRALS Prospect recommended by current satisfied

customer or one familiar with product or service

Endless chain: ask contact who else could benefit from product

Referral organizations: facilitate networking

Friends, family members, centers of influence: a person who may have influence on opinion leaders 7

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LEAD GENERATION

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Through different Activities. Issue of hand outs distribution in the Amusement park/bus terminus

school/colleges/trade centre, Malls exhibitions halls, market area ,Field activity Cold calls Referrals (referred leads) Regular Field visits Posture Activity

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DIRECTORIES

Hundreds of business and industrial directories available

Many major trade associations publish directories

Be sure to use current copy or edition as prospects shift firms; track people and companies

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TRADE SHOWS/PUBLICATIONS Trade shows and conventions: your

company may have a booth at key trade shows/expositions

Trade publications: each industry has trade publications that sales professionals need to read

Join trade associations: many salespersons join trade associations to gain access to potential buyers 10

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TELEMARKETING Telemarketing: the practice of marketing goods

and services through telephone contact To identify buyers and generate contact lists for sales

staff To qualify prospects To verify sales leads

generated by other methods

To conduct follow-ups

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DIRECT RESPONSE ANDSALES LETTERS Direct response advertising: often features

inquiry cards or information requests via mail or telephone

Sales letters: send sales letters to decision makers, then follow up

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WEBSITE Websites provide a cost-effective way for sales

professionals to: Project personal image Provide additional information Generate leads from visitors to site Present product information Establish e-mail lists

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COLD CALLING

Simply calling prospects without referrals New salespeople rely on these as they haven’t built a

referral base Must be strategically planned Prelude to in-person appointment A way to introduce yourself and your company to a

prospect

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NETWORKING

Making and profiting from personal connections Networking guidelines

Meet as many people as you can Tell them what you do Do not do business while networking Offer business card Edit contacts and conduct follow-ups

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THREE TYPES OF NETWORKS

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NON-SALES EMPLOYEES

Non-sales personnel can be valued source of leads Prospecting not necessarily

exclusive task of sales force Non-sales personnel often

need training and incentives

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COMBINATION APPROACHES

Salespersons generally rely on combination of prospecting methods

Some methods have higher yield than others Important to use Customer Relation Managing

technology to help maximize efficiency

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QUALIFYING PROSPECTS

Basic questions: Does the prospect need my product?

Does the prospect have the authority to buy my product?

Does the prospect have the financial resources to buy my product?

Does the prospect have the willingness to buy my product?

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COLLECTING AND ORGANIZING PROSPECT INFORMATION

Sales data can be collected and organized into Customer Relationship Management (CRM)

Examples of popular applications:ExcelWord

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PROSPECTING AND SALES FORECASTING PLANS

Important to balance time and organize contacts:

Prepare a list of prospects Forecast potential sales volume for each new account,

by product Carefully plan the sales route to minimize time and

cost

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Page 23: Prospecting Skills

KEY CONCEPTDISCUSSION QUESTIONS

Discuss the importance of developing a prospect base

Identify and assess important sources of prospects

Describe criteria for qualifying prospects Explain common methods of collecting and

organizing prospect information Describe the steps in managing the prospect

base

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