Professional Documents
Culture Documents
Chapter 5 Sales
Chapter 5 Sales
5
Prospecting and
Preparing for
Sales Dialogue
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duplicated, or posted to a publicly accessible website, in whole or in part.
Learning Objectives 5
L 1 Discuss why prospecting is an important and
challenging task for salespeople.
©2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Learning Objectives 5
©2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Key Thoughts 5
• Strategic prospecting is the process by which salespeople separate out
those that are more likely to buy from those that are less likely to buy
in order to avoid wasting resources.
• Leads may be generated in a variety of methods. It is important for
salespeople to know which are more effective.
• Satisfied customers are often the best source of good leads.
• A strategic prospecting plan will improve a salesperson’s prospecting
efficiency and effectiveness.
• Salespeople should spend some time learning
what they can (without wasting resources)
about their qualified leads in order to
develop an effective sales strategy.
©2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
The Importance and
Challenges of Prospecting 5
• Customer-bases are not permanent, salespeople may
lose customers due to:
– Low satisfaction
– Competition
– Economic fluctuation
– Other forms of attrition
• The prospecting process can be long
– It may take weeks to replace a lost customer
with a new one
– Revenue streams can fluctuate if “pipeline” isn’t managed
• Prospecting isn’t easy and often includes a lot of
rejection
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5
©2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Why Buyers Won’t See Salespeople 5
1. They may have never heard of the salesperson’s firm.
2. They may have just bought the salesperson’s product
category, and there is presently no need.
3. Buyers may have their own deadlines on other issues,
and they are not in a receptive mood to see
any salespeople.
4. Buyers are constantly getting calls from
salespeople and do not have the time to
see them all.
5. Gatekeepers in any organization screen
their bosses’ calls and sometimes are
curt and even rude.
©2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Ethical Dilemma 5
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5
©2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Strategic Prospecting Process 5
Sales Leads or Suspects
• Generated from Internal or External Sources
• Lead Generation Methods Should be Managed
Qualifying Process
• Need?
• Financial Resources
• Authority to Make Purchase Decision
Sales Prospect
• Prioritize Prospect List
• Initiate Pre-Call Planning
©2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Popular Prospecting
Sources & Methods 5
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Cold Canvassing 5
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Networking 5
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Company Sources 5
• Company Records
• Advertising Inquiries
• Telephone Inquiries
• Trade Shows
• Seminars
©2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Developing a Strategic
Prospecting Plan 5
©2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Developing a Strategic
Prospecting Plan 5
©2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
5
©2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Qualified Prospects . . . 5
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Qualified Prospects . . . 5
Are eligible to buy based on a fit within the
selling strategy
Are reasonably accessible and willing to
consider the sales offering
Can be added to the customer base at an
acceptable level of profitability
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5
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Gathering Precall Information: 5
About the Buyer
• Name, title and contact information
• Education & work background
• Community & organization involvement
• Hobbies & interests
• Communication style
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Gathering Precall Information: 5
About the Company
• Type of business
• History of business
• Current strategy & performance
• Number of employees
• Target markets served
• Products & services
offered
• Key competitors
©2013 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
Gathering Precall Information: 5
About the Selling Situation
• Type of purchase
• Motivation for buying
• Buying center members & roles
• Buying process
• Current supplier
• Available budget
• Competitors involved
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Ethical Dilemma 5
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Sources of Information 5
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