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Chapter 7: Prospecting-The Lifeblood of Selling

Justinne Lee

on 26 October 2012

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Transcript of Market2

Prospecting: The Lifeblood of Selling Barriero, Lee, Sy, Tan, Tan 10 Step Process of Selling 2. Preapproach 8. Trial Close 9. Close 5. Trial Close 6. Determine Objections The Tree of Business Life: Prospecting
The Sales Process Has 10 Steps
Steps Before the Sales Presentation
Prospecting—The Lifeblood of Selling
Where to Find Prospects
Planning a Prospecting Strategy
Prospecting Methods
Prospecting Guidelines
The Referral Cycle
Call Reluctance Costs You Money!
Obtaining the Sales Interview
Wireless E-mail Helps You Keep in Contact and Prospect Main Topics The Golden Rule
People are always finding trust when buying things and most of the time, they buy from those they know.
Prospecting is not easy.
If one your buyers is satisfied with your product, they will start sharing your product to their friends The Tree of Business Life: Prospecting 3. Approach 4. Presentation 7. Meet Objections 10. Follow Up Prospecting > obtaining an appointment > preapproach planning
Rule of thumb
40% preparation
20% presentation
40% follow-up Steps Before the Sales Presentation Prospect – qualified person or organization that has the potential to buy your good or service
Prospecting is the lifeblood of sales because it identifies potential customers.
Increase sale
Replacements for customers
Lead – The name of a person or organization
that might be a prospect Prospecting–The Lifeblood of Selling Once the lead has been qualified, it becomes a prospect. Prospect vs. Lead Qualified prospect is MAD
Sales Prospecting Funnel
All leads and prospects must be considered and filtered through the MAD process before they become qualified prospects Prospecting–The Lifeblood of Selling All salespeople lose X amount of sales and customers per year. This is illustrated in the Leaking Bucket Customer Concept:
Customers come into the top and leave through a hole in the bottom The Leaking Bucket Customer Concept It depends on what you are selling
Persons selling different services and goods might not use the same sources Where to Find Prospects Prospecting requires a strategy
is a skill that can be constantly improved by a dedicated salesperson Planning a Prospecting Strategy E-prospecting
Cold canvassing
Endless chain
Orphaned customers
Sales lead clubs
Prospect lists
Get published Prospecting Methods that Work! Three criteria are:
Customize or choose a prospecting method that fits the specific needs
Concentrate on high-potential customers first, leaving for later prospects of lower potential.
Always call back on prospects who did not buy. Prospecting Guidelines 1. Leads —people and organizations you know nothing, or very little, about.
2. Referrals —people or organizations you frequently know very little about other than what you learned from the referral.
3. Orphans —company records provide your only information about these past customers.
4. Your customers —the most important prospects for future sales. The Prospect Pool Provide guidelines for a salesperson to ask for referrals in four commonly faced situations
Obtaining referrals is a continuous process without beginning or end
The parallel referral sale
Sell the product to person
Obtain prospect from person The Referral Cycle The pre-approach
The presentation
Product delivery
Service and follow-up The Referral Cycle Mistreatment can have a ripple effect
Remember to follow the Golden Rule Don’t Mistreat the Referral Call reluctance refers to not wanting to contact a prospect or customer Call Reluctance Costs You Money! Key factor in selling process is obtaining a sales interview
The benefits of appointment making
Telephone appointment
Personally making the appointment
Believe in yourself
Develop friends in the prospect’s firm
Call at the right time on the right person
Do not waste time waiting Obtaining the Sales Interview Wireless E-mail helps keep the sales representative mobile. Wireless E-Mail Helps you Keep in Contact and Prospect Public exhibitions and demonstrations
Center of influence
Direct mail
Telephone and telemarketing
Networking 1. Prospecting
Full transcript