Lead Generation and Prospecting

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Lead Generation and Prospecting
Sales Training July 2006
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Covad Customer Engagement Process
Lead Generation Prospecting
1st Appointment
Discovery
80
Solution Design/Proposal Preparation
80
Proposal Presentation
100
Close
30
Project Delivery Management
Maintaining the Account Relationship
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Ideal Customer Profile

• Located in the US with gt 500 mile market
  geography
• SMB, 5 to 250 stations per site for T1 usage
• Companies with multiple remote office locations
• Currently spending more than 1500 per site in
  total telecom expense
• Average gt 50 per user in total telecom expense
• Multi-site companies are especially attractive
  targets
• Companies with significant number of mobile
  workers or telecommuters
• High Teledensity gt300 MOU per desk

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Discussion
What impending events trigger the need for a
Covad solution?
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Pending Events

• Under construction
• Organizational changes CEO, VP Sales, CIO
• Disaster recovery needs
• New lease signs
• LEC issues in that area

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Ideal Vertical Markets
Go For It Be Careful

• Real Estate
• Agriculture
• Manufacturing
• Banking
• Construction
• Financial Services
• Health Care Clinics
• Insurance
• Technology
• Professional Services
• Small Retailers
• Restaurants

• Education
• Textiles
• Hospitals
• Hospitality/Lodging
• State, Local Federal Government
• Locally focused non-profits

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Lead Generation
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Sources of Leads

• Professional Networking
• Civic Organizations
• Conferences
• Customer Referrals
• Cold Calling Door Knocking
• Publications
• OthersWhere do you get your best leads?

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Building a Professional Network/Lead Group

• Enter into a Commitment
• Seek out specific group
• Top Performers
• Sell to common Customers
• 6 8 participants
• Accountability
• Come with Leads
• Reciprocation
• No Competitors

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Finding Prospects Most Likely to Buy

• Regularly work your network maintain contact
  with current and former colleagues, business and
  social acquaintances make sure to keep your
  network informed of your product/service
• If possible, host trade shows, workshops,
  informational lunch-n-learns, etc., and use the
  attendance rosters as call lists, or if you are
  attending one of the above events, take the names
  of others attending and call them afterward (do
  the old business card swap)
• Call people you meet at civic, business or
  service organization meetings

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Preparing to Call

• Know it
• Information about your product/service
• True benefits
• Information about the person/business you are
  calling
• See it
• Prepare yourself mentally
• Visualize the successful call
• Smile and dial
• Relaxed, confident
• Rapport
• Say it
• Opening statement
• Organizes your thoughts
• Helps you avoid saying things that let the person
  end the call

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Preparing to Call

• Common Sense Techniques
• Current list of phone numbers and contact names
• Treat gatekeepers as your allies, not your foes
• Know what phrases to avoid
• Ask for specific appointment date/time
• Send promo item if possible
• Early in the day is better than late

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Opening Statements

• Make sure to provide information on
• Who you are
• Where youre from (i.e. company name)
• What you sell (in very simple terms)
• How your prospect will benefit from your product
  or service make sure the benefit to your prospect
  is mentioned within the first 10 seconds
• A question to gauge interest of the prospect

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Opening Statements

• Avoid these phrases
• How are you today?
• Were the leading provider of
• We work with several of your competitors
• Id like to learn a little more about your
  business to determine
• Id like to see if there are some ways we might
  work together
• Is now a good time to talk?
• Did I catch you at a bad time?

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Example Prospecting Script

• Hello, my name is John Doe, Im a communications
  consultant with Covad. We are experts
• in communications services for medium sized
  businesses that fit your profile. Im calling
  you
• because many companies like yours have benefited
  from a consultative process we offer that
• focuses on reducing total telecom expense and
  improving communications services. Id like to
• schedule a 30 to 45 minute meeting to explain how
  the process works. In your opinion, do you
• feel this would be worth 30 minutes to discuss?
•  
• No (handle the objection)
•  
• Yes
•  
• Great, would morning or afternoon be better for
  you?
• Would Tuesday morning at 10 am or later in the
  week?
• Would Thursday at 9 am or Friday?
•  
• Excellent, Im looking forward to sitting down
  with you next Thursday at 9 am. Before I let you
  
• go, let me ask you 3 quick questions so I can be
  better prepared for our meeting
• 1. About how many employees do you have today?

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Prospecting
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Objectives of Prospecting
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Prospecting and Lead Qualification

• Qualifying prospective client leads cuts down on
  1st Appointment visits to clients without any
  need
• Is there a true need to engage this client in
  our Covad sales process?
• Filtering through viable prospects
• Prequal to qualify

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Steps to Improved Time Management

• Set Goals
• Goals give your work day direction. Set goals
  which are specific, measurable, realistic and
  achievable.
• For example
• Number of Customer meetings you need to attend
• Pipeline growth that you need

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Prospecting Funnel
Leads
50 dials 1 appointment
100

• 25
• 16 20
• 12 16
• 12 16
• 3 4

1st Appointment
80
Discovery
80
Solution Design
100
Proposal Pres
30
Close
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Steps to Improved Time Management

• Plan Your Day
• Plan to perform tasks at times that make sense
  for you and how you work
• Schedule things even time to perform a task
  put it in the calendar
• Keep your personal and professional calendars
  together
• Dont keep separate calendars, it gets too
  confusing
• Use some sort of ticker function (reminders in
  Outlook Calendar or Lotus Notes)

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Target Account Strategy

• Why?
• More effective than shotgun approach
• It takes 4 to 6 attempts to make successful
  contact
• Strategy allows for more pre-contact research
  prep which will result in higher success rate.

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Target Account Strategy

• Determine the necessary size of your target list
• Size should be related to the condition of your
  pipeline
• Do your research
• Who is the contact? Title, role, other specifics
• Who is the company? Vertical, approx size,
  locations
• Sources web site, business journals, lead
  sources

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Target Account Strategy

• Executing the Strategy
• Call through your list every day
• When a successful contact is made
• Disqualify off list
• Engage with customer, remove from list
• By end of day, add new prospects to list
• Consider letter-writing campaign to compliment
  this strategy Example of 50 contacts, I send 5
  letters/notes every day. Every 10 days, each of
  my contacts get a personal letter/note.

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Exercise
Student Guide Exercise Write a list of
possible target customers.
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Opportunity Probability

• To determine prospect priority
• An Opportunity is an objective of how much
  customers could buy from you if they bought
  everything they could, usually calculated
  annually
• Probability is a subjective analysis of how
  likely it is that a prospect will become a
  customer

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Scenarios

• Scenario 1
• A small school has the budget and over 30 phones
• Scenario 2
• A 500 room hotel
• Looks like a good candidate for VoIP
• Scenario 3
• A small government agency has the budget
• Operates in a wide geographic area
• Scenario 4
• A real estate agency where everyone calls long
  distance

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Covad Closing Ranges
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Probability of Closing Range
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Guide to Prospecting Quick Reference Guide
Prequal
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Big Picture
Start
Internal Systems
Sales Process Flow
Lead is Obtained

Second Appointment for
Discovery
QuoteGen creates pricing for clients needs
utilizing a Covad solution
ROI utilizes information
from QuoteGen and CPE/
Results from ROI analysis
Hardware Estimator to
are incorporated into a
create cost savings
PPT presentation and
reports if the client utilizes
other documents for
a Covad solution
presentation to client
End
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Prequalification of Voice Data for T1
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Accessing the PreQual Tools
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Prequalification of Voice Data for SDSL
You must perform both prequals for SDSL voice
and data
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Results
Error is received if the user attempts to place
the order
Verify information
This information is not relevant to VOA disregard
Qualified SDSL speeds and T1 services
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Exercise
Student Guide Exercise Prequal a T1 and SDSL
order using step-by-step guide
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Cheat Sheet
Cheat sheet for passwords and access in your
student guide