5 Strategic Prospecting and Preparing for Sales Dialogue

5 Strategic Prospecting and Preparing for Sales Dialogue

Learning Objectives Discuss why prospecting is an L 1 important and challenging task for salespeople. Explain strategic prospecting and L 2 each stage in the strategic prospecting process. Describe the major prospecting L 3 methods and give examples of each method. 5

Learning Objectives Explain the important components L 4 of a strategic prospecting plan. Discuss the types of information L 5 salespeople need to prepare for sales dialogue. 5

Why Buyers Won’t See Salespeople 1. 2. 3. 4. 5. They may have never heard of the salesperson’s firm. They may have just bought the salesperson’s product category, and there is presently no need. Buyers may have their own deadlines on other issues, and they are not in a receptive mood to see any salespeople. Buyers are constantly getting calls from salespeople and do not have the time to see them all. Gatekeepers in any organization screen their bosses’ calls and sometimes are curt and even rude. 5

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 is 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 • ____________and often includes a lot of rejection

Ethical Dilemma 5

The Strategic Prospecting Process Sales Funnel or Pipeline: A representation of the trustbased sales process and strategic sales prospecting process. A process designed to ________, and ______ sales opportunities, whether they represent potential new customers or opportunities to generate additional business from existing customers. 5

Strategic Prospecting Process 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 Ideal Customer Profile: The characteristics of a firm’s best customers or the perfect customer. • Prioritize Prospect List • Initiate Pre-Call Planning 5

Popular Prospecting Sources & Methods 5

Developing a Strategic Prospecting Plan 5

Developing a Strategic Prospecting Plan 5

Gathering Precall Information: The Prospect 5

Gathering Precall Information: The Prospect’s Organization 5

Ethical Dilemma 5

Role Play 5