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Chapter 7. Prospecting—The Lifeblood of Selling. Chapter 7. Building Relationships through the Sales Process. 1. Prospecting. The sales process is a sequential series of actions:. 2. Preapproach - planning. 3. Approach. 4. Presentation. 5. Trial close.

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Chapter 7

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Prospecting—The Lifeblood of Selling

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Building Relationships through the Sales Process

1. Prospecting

The sales process is a sequential series of actions:

2. Preapproach - planning

3. Approach

4. Presentation

5. Trial close

6. Determine objections

7. Meet objections

8. Trial close

9. Close

10. Follow-up

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Ten Important Steps in the Customer Relationship Selling Process

1. Prospecting. Locating and qualifying prospects.

2. Preapproach. Obtaining interview. Planning: determining sales call objective, developing customer profile, customer benefit program, and sales presentation strategies.

3. Approach. Meeting prospect and beginning customized sales presentation.

4. Presentation. Further uncovering needs; relating product benefits to needs using demonstration, dramatization, visuals, and proof statements.

5. Trialclose. Asking prospects’ opinions during and after presentation.

6. Objections. Uncovering objections.

7. Meetobjections. Satisfactorily answering objections.

8. Trial close. Asking prospect’s opinion after overcoming each objection and immediately before the close.

9. Close. Bringing prospect to the logical conclusion to buy.

10. Follow-up and service. Serving customer after the sale.

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The Concept of Prospecting

  • A salesperson without prospects is out of business

  • A salesperson without prospects can no more close a sale than a surgeon without a patient can operate

  • Prospects are everywhere - develop ways to find them

“I’d rather be a master prospector than be a wizard of speech and have no one to tell my story to.”-Paul J. Meyer

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Qualifying the Prospect

  • Moving from a “lead”, to a qualified prospect

    • Lead - is just a name

    • Prospect - researched for money, and authority, and desire.

    • Qualified prospect - evaluated prospect along with personal information

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Cultivate prospects who pass the MAD test:





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Methods of Prospecting

  • Why we lose customers

    • Customer’s company goes out of business

    • Competitor takes your customer

    • Customer moves or dies

    • Merger or downsizing

    • Customer-salesperson relationship deteriorates

  • Referrals

    • Have person make the initial contact for you

    • Learn how to ask for a referral!

    • Why people don’t give referrals

    • Referrals tend to be horizontal

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Centers of Influence

Methods of Prospecting

  • Believes in you and what you are selling

  • Is influential with a significant number of people

  • Is willing to give you names on a regular basis

  • The names given to you are at least partially qualified prospects

  • Group Prospecting

    • Follow up with interested prospects

    • Trade shows, speaking engagements

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    Planned Cold Calling

    Methods of Prospecting

    • At least one out of seven will be receptive

    • Treat cold calls as a supplement. Don’t neglect other techniques

    • Preplan cold calls

    • Limit waiting - 15 minutes is a good gauge!

    • Remain enthusiastic

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    Direct mail or fax

    Methods of Prospecting

    • Prospects do read well-targeted direct mail

    • Mailing is only as good as the list

    • Sources of lists to consider:

      • Membership rosters

      • City directories

      • Yellow pages

      • White pages

      • Religious groups

      • Past customers

    • Create your own newsletter

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    Observation - prospects are everywhere

    • Always be looking

    • Read the newspaper and selected magazines

    • Trade journals

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    Joining Civic Groups

    Methods of Prospecting

    • Carefully select the groups you join

    • Work for positive visibility

    • Set contact goals for each organization meeting

    • Maintain an information file on the contacts made in each organization

    • Use “remeet” goals to help you develop closer relationships with people

    • Use active listening to learn more about the financial goals and needs of others

    • Look for appropriate opportunities for further business-oriented discussions

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    Networking - active cooperation, i.e. ‘tips’

    Methods of Prospecting

    • There are formal groups that you can join

    • Sharing information makes good sense

  • Using Directories - Goldmines if used correctly

    • Moody’s Industrial Manual

    • Poor’s Register of Directors and Executives

    • The Dun and Bradstreet Reference Book

    • The Thomas Register of American Manufacturers

    • Contacts Influential

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    Company Initiated Prospecting

    Methods of Prospecting

    • Telemarketing Activities

    • Advertising Response

      • Direct Mail

      • Newspaper

  • Past Customers

    • Go over list of inactive accounts

  • Develop and create a Web site

    • Streamline the sales process

    • Affiliate program marketing

    • Turn web leads into online sales

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    Trade Shows

    Methods of Prospecting

    • Selecting the right trade show is critical

    • On the spot sale versus lead generation

    • Pre-show training and post-show follow-up

    • Display planning to get high visibility

    • Staffing the booth to handle information

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    Methods of Prospecting

    Sales leads

    snowboarding trade magazine,13010,,00.html

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    What methods will YOU use?

    Methods of Prospecting

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