Prospecting

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• Prospecting

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The Personal Selling Process
2
1
Planning
3
Prospecting And Qualifying
The Approach
7
4
Follow Up Servicing the Account
Sales Presentation
6
5
Confirming Closing
Negotiating Objections
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What is prospecting?

• PROSPECT -
• A potential customer that meets the
  qualification criteria established by your
  company.
  
• PROSPECTING -
• Identifying potential customers.

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Why is prospecting important?

• Attrition due to
• Customers lost to competitors
• Customers move out of the territory
• Customers die or go out of business
• Need ceases
• Not a repeat business situation
• Mergers acquisitions
• For growth

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How do you prospect?

• Obtain leads
• People who could seemingly benefit from your
  product or service
  
• Name, phone number and address
• Qualify them
• Do they meet your qualifying criteria?

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The Process from Lead to Partner

• Lead
• Qualify
• Prospect
• Sell
• Customer
• Build relationship
• Partner

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Characteristics of a good prospect

• Authority to buy
• Whose approval is needed for the purchase?
• Who exerts influence?
• Need or want
• Approachability
• Money to buy
• Eligible to buy

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Sources for Obtaining Leads

• Satisfied customers
• Endless chain
• Center of influence
• Networking
• Promotional activities
• Advertising, contests, free giveaways
• Lists directories

Effort v. Non-effort
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Sources for Obtaining Leads

• Canvassing
• Spotters
• Bartenders, hairstylists, cab drivers, doormen
• Telemarketing
• Sales letters
• Observation
• Press
• Public records

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Keys to successful prospecting

• Classify prospects
• Customer type, geography, size, potential
• Have a prospecting plan
• maintain prospecting records
• What info should you keep?
• establish quotas
• evaluate performance
• Try new methods
• Follow through