Ch. 7 Prospecting—The Ch. 7 Prospecting—The Lifeblood of SellingLifeblood of Selling

Ch. 7 Prospecting—The Ch. 7 Prospecting—The Lifeblood of SellingLifeblood of Selling

Chapter

Chapter

7

Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin

7-2

Exhibit 7-1: The Selling Process Has 10 Important Steps

10. Follow-up10. Follow-up

9. Close9. Close

8. Trial close8. Trial close

7. Meet objections7. Meet objections

6. Determine objections6. Determine objections

5. Trial close5. Trial close

4. Presentation4. Presentation

3. Approach3. Approach

2. Preapproach/planning2. Preapproach/planning

1. Prospecting1. ProspectingThe sales process is a sequential series of actions

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Some Prospect, Some Do Not

Many salespeople prospect, both those selling business-to-business and those selling to consumers

Examples are:

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Compensation for the Salesperson who Prospects is Often:

Based upon 100% commission – if you do not sell, you do not earn

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Prospecting–The Lifeblood of Selling

Qualified prospect is MADM

A

D

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Exhibit 7-2: Before the Sales Presentation

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Steps Before the Sales Presentation

Prospecting > appointment > planning Rule of thumb

40%20% 40%

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Prospecting–The Lifeblood of Selling

Prospect – Prospecting – Lead –

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Where to Find Prospects

Persons selling different services and goods might not use the same sources

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Planning a Prospecting Strategy

Prospecting requires a strategy that can be constantly improved

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Prospecting Methods

E-prospecting on the Web IndividualsOrganizations

Cold canvassing Endless chain – customer referral Orphaned customers Sales lead clubs

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Prospecting Methods, cont…

Prospect lists Become an expert – get published Public exhibitions and demonstrations Center of influence Direct mail Telephone and telemarketing Observation Networking

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Prospecting Guidelines

Three criteria are:1.Customize

2.Concentrate

3. Always keep knocking on prospect’s and

customer’s door to help them

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Exhibit 7-7: Components of the Prospect Pool

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The Referral Cycle

Obtaining referrals is a continuous process without beginning or end

Referral cycle – when and how to ask for referrals

The parallel referral saleSell Obtain

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The Referral Cycle, cont…

The secret is to ask correctly during referral cycleTheThe Product

Service and follow-up contact phase: Customer service

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Don’t Mistreat the Referral

Mistreatment can have a ripple effect The mistreated referral tells your customer –

you may lose both! Remember to follow the Golden Rule

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Treat the Referral Like a Customer

Once you have sold the referral, and gotten more referrals, ask the new customer to contact the referring customer about her experience with the salesperson

Now you have two customers giving referrals This can create an endless chain of referrals

quickly filling your prospect pool with only customers and referrals

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Call Reluctance Costs You Money!

Call reluctance refers to not wanting to contact a prospect or customer

For many salespeople, owning up to call reluctance is the most difficult part of combating it

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The 12 Faces of Call Reluctance, cont..

1. Yielder - Fears intruding on others or being pushy

2. Overpreparer - Overanalyzes, underacts

3. Emotionally unemancipated - Fears loss of family approval, resists mixing business and family

4. Separationist - Fears loss of friends, resists prospecting among personal friends

5. Hyper-pro - Obsessed with image, fears being humiliated

6. Role rejecter - Ashamed to be in sales

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7. Socially self-conscious - Fears intruding on others or being pushy. Intimidated by upmarket customers.

8. Doomsayer - Worries, won’t take risks

9. Telephobic - Fears using the telephone for prospecting or selling

10. Stage fright - Fears group presentations

11. Referral aversions - Fears disturbing business or client relationships

12. Oppositional reflex - Rebuffs attempts to be coached

The 12 Faces of Call Reluctance, cont…

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The 12 Faces of Call Reluctance: How to Conquer the Fear

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Obtaining the Sales Interview

Key factor in selling process is obtaining a sales interview

The benefits of appointment making Personally making the appointment