Presentation on theme: "Strategic Prospecting and Preparing for Sales Dialogue"— Presentation transcript:
1 Strategic Prospecting and Preparing for Sales Dialogue
2 Learning ObjectivesDiscuss why prospecting is an important and challenging task for salespeople.Explain strategic prospecting and each stage in the strategic prospecting process.Describe the major prospecting methods and give examples of each method.L1L2L3
3 Learning ObjectivesExplain the important components of a strategic prospecting plan.Discuss the types of information salespeople need to prepare for sales dialogue.L4L5
5 Key ThoughtsStrategic prospecting is the process by which salespeople separate out those that are more likely to buy from those that are less likely to buy in order to avoid wasting resources.Leads may be generated in a variety of methods. It is important for salespeople to know which are more effective.Satisfied customers are often the best source of good leads.A strategic prospecting plan will improve a salesperson’s prospecting efficiency and effectiveness.Salespeople should spend some time learning what they can (without wasting resources) about their qualified leads in order to develop an effective sales strategy.
6 Why Buyers Won’t See Salespeople They may have never heard of the salesperson’s firm.They may have just bought the salesperson’s product category, and there is presently no need.Buyers may have their own deadlines on other issues, and they are not in a receptive mood to see any salespeople.Buyers are constantly getting calls from salespeople and do not have the time to see them all.Gatekeepers in any organization screen their bosses’ calls and sometimes are curt and even rude.
7 The Importance and Challenges of Prospecting Customer-bases are not permanent, salespeople may lose customers due to:Low satisfactionCompetitionEconomic fluctuationOther forms of attritionThe prospecting process is can be longIt may take weeks to replace a lost customer with a new oneRevenue streams can fluctuate if “pipeline” isn’t managedProspecting isn’t easy and often includes a lot of rejection
9 The Strategic Prospecting Process A process designed to identify, qualify, and prioritize sales opportunities, whether they represent potential new customers or opportunities to generate additional business from existing customers.Sales Funnel or Pipeline: A representation of the trust- based sales process and strategic sales prospecting process.
10 Strategic Prospecting The process of identifying, qualifying, and prioritizing sales opportunities, whether they represent potential new customers or opportunities to generate additional business from existing customers.Sales LeadsScreening Procedures for Qualifying LeadsScreened OutScreened OutQualified ProspectsSales Opportunities for the Salesperson
11 Popular Prospecting Sources & Methods Personal ContactObservationCold CanvassingTrade ShowsBird Dogs (Spotters)External SourcesReferralsIntroductionsCommunity Contacts (Centers of Influence)OrganizationsNon-competing SalespeopleVisible AccountsInternal SourcesCompany RecordsLists and DirectoriesAdvertising InquiriesTelephone InquiriesMail InquiriesInternet or World Wide Web
12 Qualified Prospects . . . Can benefit from the sales offering Have the financial wherewithal to make the purchasePlay an important role in the purchase decision process
13 Qualified Prospects . . .Are eligible to buy based on a fit within the selling strategyAre reasonably accessible and willing to consider the sales offeringCan be added to the customer base at an acceptable level of profitability
14 Strategic Prospecting Process Sales Leads or SuspectsGenerated from Internal or External SourcesLead Generation Methods Should be ManagedQualifying ProcessNeed?Financial ResourcesAuthority to Make Purchase DecisionSales ProspectPrioritize Prospect ListInitiate Pre-Call PlanningIdeal Customer Profile: The characteristics of a firm’s best customers or the perfect customer.