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Prospecting and Pre-approach Module Five. Improving Productivity Through Prospecting An Expert’s Viewpoint: “... BMC Software developed a comprehensive.

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Presentation on theme: "Prospecting and Pre-approach Module Five. Improving Productivity Through Prospecting An Expert’s Viewpoint: “... BMC Software developed a comprehensive."— Presentation transcript:

1 Prospecting and Pre-approach Module Five

2 Improving Productivity Through Prospecting An Expert’s Viewpoint: “... BMC Software developed a comprehensive prospecting process that treats the generation of sales leads and qualification of prospects as an ongoing sales strategy....” “... BMC Software developed a comprehensive prospecting process that treats the generation of sales leads and qualification of prospects as an ongoing sales strategy....” Action

3 Improving Productivity Through Prospecting An Expert’s Viewpoint: “.... This comprehensive screening system not only improves the closing ratio of BMC’s salespeople and account managers, but also has a positive influence on customer satisfaction and retention by better assuring the right match between customer needs an company solutions.” “.... This comprehensive screening system not only improves the closing ratio of BMC’s salespeople and account managers, but also has a positive influence on customer satisfaction and retention by better assuring the right match between customer needs an company solutions.” Result

4 Why Buyers Won’t See Salespeople 1.They may have never heard of the salesperson’s firm. 2.They may have no need; they just bought the product category. 3.The buyer may have their own deadlines on other issues. 4.Buyers are constantly getting calls from salespeople and do not have the time to see them all. 5.Gatekeepers in any organization screen their bosses’ calls and are often curt and even rude.

5 Prospecting The process of identifying, qualifying, and prioritizing organizations and individuals that have the need for and potential to purchase the salesperson’s market offering of products and services. Qualified Prospects Sales Leads Screening Procedures for Qualifying Leads

6 Prospecting Plans are the Foundation for Effective Prospecting Set Goals Establish daily, weekly and monthly quotas for acquiring new prospects

7 Prospecting Plans are the Foundation for Effective Prospecting Set Goals Establish a regular daily schedule for conducting prospecting activities. Allocate Time

8 Prospecting Plans are the Foundation for Effective Prospecting Set Goals Track your results from using the different prospecting methods. Keep Records Allocate Time

9 Prospecting Plans are the Foundation for Effective Prospecting Set Goals Evaluate What is working for you? Compare results and use the methods that work best for you. Keep Records Allocate Time

10 Prospecting Plans are the Foundation for Effective Prospecting Set Goals Evaluate Develop confidence by knowing your products and believing that you offer the best solutions. Keep Records Allocate Time Stay Positive

11 Popular Prospecting Sources & Methods External Sources –Referrals –Introductions –Community Contacts (Centers of Influence) –Organizations –Non-competing Salespeople –Visible Accounts

12 Popular Prospecting Sources & Methods Internal Sources –Company Records –Lists and Directories –Advertising Inquiries –Telephone Inquiries –Mail Inquiries –Internet or World Wide Web

13 Popular Prospecting Sources & Methods Personal Contact –Observation –Cold Canvassing –Trade Shows –Bird Dogs (Spotters)

14 Qualified Prospects... Can benefit from the sales offering Can benefit from the sales offering Have the financial wherewithal to make the purchase Have the financial wherewithal to make the purchase Play an important role in the purchase decision process Play an important role in the purchase decision process Are eligible to buy based on a fit within the selling strategy Are eligible to buy based on a fit within the selling strategy Are reasonably accessible and willing to consider the sales offering Are reasonably accessible and willing to consider the sales offering Can be added to the customer base at an acceptable level of profitability Can be added to the customer base at an acceptable level of profitability

15 Importance of Effective Prospecting One Customer 100 Leads Many Leads Few Qualified Prospects Many Qualified Prospects Few Customers Suppose it takes 10 leads to generate one qualified prospect And suppose it takes 10 qualified prospects to generate one customer It will take 100 leads to generate one customer

16 Importance of Effective Prospecting One Customer 50 Leads The better the lead generation method, the higher the proportion of qualified leads. The more accurate the qualifying process, the higher the proportion of customers per qualified lead.

17 Gathering Precall Information: The Prospect The prospect’s name and title Correct spelling and pronunciation can be gathered by asking the receptionist or secretary or gatekeeper to verify information.

18 Gathering Precall Information: The Prospect Is this prospect willing to take risks? Are they confident with their decision making? May have to ask the prospect

19 Gathering Precall Information: The Prospect Observe club or organizational honors displayed in the office. Is the buyer involved in their community? Do they belong to clubs or professional organizations?

20 Gathering Precall Information: The Prospect Does the prospect have hobbies or interests they are proud of? Observation of office.

21 Gathering Precall Information: The Prospect What is the prospect’s personality type? Easy going? All business? Observation and experience with buyer.

22 Gathering Precall Information: The Prospect Where did this prospect grow up? Where were they educated? Look for diplomas. Ask.

23 Gathering Precall Information: The Prospect’s Organization What type of business are we dealing with? Can be gathered from a directory and company web site.

24 Gathering Precall Information: The Prospect’s Organization To what market does the company sell? Who are its primary competitors? What does the company make and sell? Annual reports and company web site.

25 Gathering Precall Information: The Prospect’s Organization Salesperson may have to ask for this information. Who and how many vendors does the prospect presently buy from? How much and how long have they been purchasing from their supplier(s)? What challenges is the organization facing?


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