Presentation on theme: "Prospecting and Pre-approach"— Presentation transcript:
1 Prospecting and Pre-approach Module FiveProspecting and Pre-approach
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 ”Action
3 Improving Productivity Through Prospecting An Expert’s Viewpoint: Result“ 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.”
4 Why Buyers Won’t See Salespeople They may have never heard of the salesperson’s firm.They may have no need; they just bought the product category.The buyer may have their own deadlines on other issues.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 are often curt and even rude.
5 Screening Procedures for Qualifying Leads ProspectingThe 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 ProspectsSales LeadsScreening Procedures for Qualifying Leads
6 Prospecting Plans are the Foundation for Effective Prospecting Set GoalsEstablish daily, weekly and monthly quotas for acquiring new prospects
7 Prospecting Plans are the Foundation for Effective Prospecting Set GoalsAllocate TimeEstablish a regular daily schedule for conducting prospecting activities.
8 Prospecting Plans are the Foundation for Effective Prospecting Set GoalsAllocate TimeTrack your results from using the different prospecting methods.Keep Records
9 Prospecting Plans are the Foundation for Effective Prospecting Set GoalsAllocate TimeWhat is working for you? Compare results and use the methods that work best for you.Keep RecordsEvaluate
10 Prospecting Plans are the Foundation for Effective Prospecting Set GoalsAllocate TimeDevelop confidence by knowing your products and believing that you offer the best solutions.Keep RecordsEvaluateStay Positive
11 Popular Prospecting Sources & Methods External SourcesReferralsIntroductionsCommunity Contacts (Centers of Influence)OrganizationsNon-competing SalespeopleVisible Accounts
12 Popular Prospecting Sources & Methods Internal SourcesCompany RecordsLists and DirectoriesAdvertising InquiriesTelephone InquiriesMail InquiriesInternet or World Wide Web
13 Popular Prospecting Sources & Methods Personal ContactObservationCold CanvassingTrade ShowsBird Dogs (Spotters)
14 Qualified Prospects . . . Can benefit from the sales offering Have the financial wherewithal to make the purchasePlay an important role in the purchase decision processAre 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
15 Importance of Effective Prospecting Many LeadsFew Qualified ProspectsSuppose it takes 10 leads to generate one qualified prospectOne Customer100 LeadsIt will take 100 leads to generate one customerMany Qualified ProspectsFew CustomersAnd suppose it takes 10 qualified prospects to generate one customer
16 Importance of Effective Prospecting One Customer50 LeadsThe 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 titleInfo NeededCorrect spelling and pronunciation can be gathered by asking the receptionist or secretary or gatekeeper to verify information.Source
18 Gathering Precall Information: The Prospect Is this prospect willing to take risks? Are they confident with their decision making?Info NeededSourceMay have to ask the prospect
19 Gathering Precall Information: The Prospect Is the buyer involved in their community? Do they belong to clubs or professional organizations?Info NeededObserve club or organizational honors displayed in the office.Source
20 Gathering Precall Information: The Prospect Does the prospect have hobbies or interests they are proud of?Info NeededSourceObservation of office.
21 Gathering Precall Information: The Prospect What is the prospect’s personality type? Easy going? All business?Info NeededObservation and experience with buyer.Source
22 Gathering Precall Information: The Prospect Where did this prospect grow up? Where were they educated?Info NeededSourceLook for diplomas. Ask.
23 Gathering Precall Information: The Prospect’s Organization What type of business are we dealing with?Info NeededCan be gathered from a directory and company web site.Source
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?Info NeededAnnual reports and company web site.Source
25 Gathering Precall Information: The Prospect’s Organization 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?Info NeededSourceSalesperson may have to ask for this information.