Prospecting and Pre-approach Module Five. Improving Productivity Through Prospecting An Expert’s...

Prospecting and Pre-approachProspecting and Pre-approach

Module FiveModule Five

Improving ProductivityImproving ProductivityThrough ProspectingThrough Prospecting

An Expert’s Viewpoint:An Expert’s Viewpoint:

“ “. . . BMC Software developed a comprehensive . . . BMC Software developed a comprehensive prospecting process that treats the generation of sales prospecting process that treats the generation of sales leads and qualification of prospects as an ongoing leads and qualification of prospects as an ongoing sales strategy. . . .”sales strategy. . . .”

ActionAction

Improving ProductivityImproving ProductivityThrough ProspectingThrough Prospecting

An Expert’s Viewpoint:An Expert’s Viewpoint:

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

ResultResult

Why Buyers Won’t See SalespeopleWhy Buyers Won’t See Salespeople

1.1. They may have never heard of the salesperson’s firm.They may have never heard of the salesperson’s firm.

2.2. They may have no need; they just bought the product They may have no need; they just bought the product category.category.

3.3. The buyer may have their own deadlines on other The buyer may have their own deadlines on other issues.issues.

4.4. Buyers are constantly getting calls from salespeople Buyers are constantly getting calls from salespeople and do not have the time to see them all.and do not have the time to see them all.

5.5. Gatekeepers in any organization screen their bosses’ Gatekeepers in any organization screen their bosses’ calls and are often curt and even rude.calls and are often curt and even rude.

ProspectingProspecting

The process of identifying, qualifying, and The process of identifying, qualifying, and prioritizing organizations and individuals that prioritizing organizations and individuals that have the need for and potential to purchase have the need for and potential to purchase the salesperson’s market offering of products the salesperson’s market offering of products and services.and services.

Qualified Qualified ProspectsProspectsQualified Qualified ProspectsProspects

SalesSalesLeadsLeadsSalesSalesLeadsLeads

Screening Screening Procedures Procedures

for Qualifying for Qualifying LeadsLeads

Prospecting Plans are the Foundation Prospecting Plans are the Foundation for Effective Prospectingfor Effective Prospecting

Set GoalsSet Goals

Establish daily, Establish daily, weekly and weekly and

monthly quotas for monthly quotas for acquiring new acquiring new

prospectsprospects


Set GoalsSet Goals

Establish a regular Establish a regular daily schedule for daily schedule for

conducting conducting prospecting prospecting activities.activities.

Allocate TimeAllocate Time


Set GoalsSet Goals

Track your results Track your results from using the from using the

different prospecting different prospecting methods.methods.

Keep RecordsKeep Records



Set GoalsSet Goals

EvaluateEvaluate

What is working for What is working for you? Compare you? Compare

results and use the results and use the methods that work methods that work

best for you.best for you.




Set GoalsSet Goals

EvaluateEvaluate

Develop confidence Develop confidence by knowing your by knowing your

products and products and believing that you believing that you

offer the best offer the best solutions.solutions.



Stay PositiveStay Positive

Popular Prospecting Sources & MethodsPopular Prospecting Sources & Methods

External SourcesExternal Sources– ReferralsReferrals– IntroductionsIntroductions– Community Contacts Community Contacts

(Centers of Influence)(Centers of Influence)– OrganizationsOrganizations– Non-competing Non-competing

SalespeopleSalespeople– Visible AccountsVisible Accounts


Internal SourcesInternal Sources– Company RecordsCompany Records– Lists and DirectoriesLists and Directories– Advertising InquiriesAdvertising Inquiries– Telephone InquiriesTelephone Inquiries– Mail InquiriesMail Inquiries– Internet or World Internet or World

Wide WebWide Web


Personal ContactPersonal Contact– ObservationObservation– Cold CanvassingCold Canvassing– Trade ShowsTrade Shows– Bird Dogs (Spotters)Bird Dogs (Spotters)

Qualified Prospects . . .Qualified Prospects . . .

Can benefit from the sales offeringCan benefit from the sales offering

Have the financial wherewithal to make the purchaseHave the financial wherewithal to make the purchase

Play an important role in the purchase decision processPlay an important role in the purchase decision process

Are eligible to buy based on a fit within the selling Are eligible to buy based on a fit within the selling strategystrategy

Are reasonably accessible and willing to consider the Are reasonably accessible and willing to consider the sales offeringsales offering

Can be added to the customer base at an acceptable Can be added to the customer base at an acceptable level of profitabilitylevel of profitability

Importance of Effective ProspectingImportance of Effective Prospecting

OneOneCustomerCustomer

100 100 LeadsLeads

Many LeadsMany Leads

Few QualifiedFew Qualified ProspectsProspects

Many Qualified Many Qualified ProspectsProspects

Few CustomersFew Customers

Suppose it takes 10 Suppose it takes 10 leads to generate leads to generate

one qualified one qualified prospectprospect

And suppose it And suppose it takes 10 qualified takes 10 qualified

prospects to prospects to generate one generate one

customercustomer

It will takeIt will take100 leads100 leads

to generateto generateone customerone customer

Importance of Effective ProspectingImportance of Effective Prospecting

OneOneCustomerCustomer

50 50 LeadsLeads

The better the lead generation method, the The better the lead generation method, the higher the proportion of qualified leads.higher the proportion of qualified leads.

The more accurate the qualifying process, the The more accurate the qualifying process, the higher the proportion of customers per higher the proportion of customers per qualified lead.qualified lead.

Gathering Precall Information:Gathering Precall Information:The ProspectThe Prospect

The prospect’s name and titleThe prospect’s name and title

Correct spelling and pronunciation Correct spelling and pronunciation can be gathered by asking the can be gathered by asking the receptionist or secretary or receptionist or secretary or gatekeeper to verify information.gatekeeper to verify information.


Is this prospect willing to take Is this prospect willing to take risks? Are they confident with their risks? Are they confident with their decision making?decision making?

May have to ask the prospectMay have to ask the prospect


Observe club or organizational Observe club or organizational honors displayed in the office.honors displayed in the office.

Is the buyer involved in their Is the buyer involved in their community? Do they belong to community? Do they belong to clubs or professional organizations?clubs or professional organizations?


Does the prospect have hobbies Does the prospect have hobbies or interests they are proud of?or interests they are proud of?

Observation of office.Observation of office.


What is the prospect’s personality What is the prospect’s personality type? Easy going? All business?type? Easy going? All business?

Observation and experience with buyer.Observation and experience with buyer.


Where did this prospect grow up? Where did this prospect grow up? Where were they educated?Where were they educated?

Look for diplomas. Ask.Look for diplomas. Ask.

Gathering Precall Information:Gathering Precall Information:The Prospect’s OrganizationThe Prospect’s Organization

What type of business are we What type of business are we dealing with?dealing with?

Can be gathered from a directory Can be gathered from a directory and company web site.and company web site.


To what market does the company sell?To what market does the company sell?Who are its primary competitors?Who are its primary competitors?What does the company make and sell?What does the company make and sell?

Annual reports and company web site.Annual reports and company web site.


Salesperson may have to ask for this Salesperson may have to ask for this information.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?

Prospecting and Pre-approach Module Five. Improving Productivity Through Prospecting An Expert’s...

Documents

Transcript of Prospecting and Pre-approach Module Five. Improving Productivity Through Prospecting An Expert’s...