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Strategic Prospecting and Preparing A Sales Dialogue
Transcript of Strategic Prospecting and Preparing A Sales Dialogue
Importance and challenges of prospecting
* Current customers are not always enough because of :
1) The tough economic environment.
2) Market condition change.
3) Existing customers might buy less.
4) Customers might go out of the business.
5) Low customer satisfaction.
Strategic Prospecting Process
It's a process designed to identify and qualify sales oppurtunities. Whether they are potential new customers or existing customers.
Representation of the trust- based sales process and highlights the major steps of the strategic prospecting process
Why Buyers Won’t See Salespeople
1) They may have never heard of the salesperson’s firm.
2) They may have just bought the product category, and there is no present need.
3) Buyers may have their own deadlines on other issues, and they have no time to see salespeople.
4) Buyers are constantly getting calls from salespeople and do not have the time to see them all.
5) Gatekeepers screen their bosses’ calls and sometimes are rude.
This could be overcommed by:
1) Following a strategic sales prospecting process.
2) Utilizing a variety of prospecting methods.
3) Developing a strategic prospecting plan.
4) Preparing for the sales dialogue.
The main aim is to help salespeople determine the best sales opportunities in the most effective way.
Effective strategic prospecting helps salespeople spend their time in a productive manner.
The most productive salespeople persue the best sales opp and translate a large % of these opp. into sales than less productive salespeople do.
Generating Sales Leads
Leads/suspects: They are the individuals who might possibly purchase the product/service that the salesperson offers.
Determining Sales Prospects
Qualifying sales leads: Salespeople evaluate the sales leads to determine which one are true prospects to their product, by collecting analyzing and using various ways of procedures.
Prospects: individuals who have the need, purchase power and the purhase decision.
Prioritizing Sales Prospects
Salespeople tend to prioritize the prospects by creating the ideal customer profile that includes the characteristics of the perfect customers. Those who fit this profile tend to be the best oppurtinities that the salespeople will spend most of their time on
Categorizing the prospects into A,B and C.
Prepare For The Sales Dialogue
At this point the information the salesperson has, with some additional information increase the chance of making a successful initial sales dialogue.
Information to know on a prospect
1- The prospect’s name
2- The prospect’s title
3- Is this prospect willing to take risks?
4- Is the prospect involved in the community?
5- Does the prospect have hobbies, interest?
6- What is the prospect personality type?
7- Where was the prospect educated?
Gathering information about the organization
1- What type of business we are dealing with?
2- Their market, competitors and the company make and sell
3-company financial position
4- what problems does company face?
5-in what volume does the company buy
1) Cold canvassing
cold calling is the most extreme form of cold
canvassing because salespeople merely
"knock on the door" or make telephone call to
organizations and individuals .
a small percentage of cold calls lead to future
sales dialogue with qualified prospects .
salespeople are often trained to ask customers and others for the names and contact information of potential prospects
salespeople can also obtain sufficient information to qualify the lead as a good prospect
by writing a letter or making a phone call
to introduce the salesperson to the prospect.
salespeople can use various types of networking as effecrive method for prospecting , many salespeople join civic and professional organizations these membership provide the opportunity for them to build reletionship with other members
people in the community or other organizations making them :
centre of influence
many companies have resources or engaged in activities that can help their own salesperson with strategic prospecting
2) published sources
variety of sources in print and electronic form can be very useful in prospecting
offer an inexpensive and convenient means of identifying leads
commercial lead list :
designed to focus on virtually any type of business or individuals from simple lists of names ,addresses and phone numbers
a strategic prospecting plan should fit
needs of the sales person
the strategic prospecting plan set goals, allocate specific times to be used for prospecting , and continuously evaluate results in order to maximize the effectiveness of prospecting time and effort
a good tracking system should also be a part of the prospecting plan
part of the strategic prospecting plan that
record comprehensive information about the prospect ,traces the prospecting method used , and chronologically achieve outcomes from any contact with the prospect
1) Cold canvassing
2) Published sources
4) Company sources