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Relationship Selling Mark W. Johnston Greg W. Marshall McGraw-Hill/Irwin Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved. Prospecting and Sales Call Planning Chapter 5 5-3 Learning Objectives • Describe how to qualify a lead as a prospect • Explain why prospecting is important to long-term success in relationship selling • List various sources of prospects • Prepare a prospecting plan 5-4 Learning Objectives • Explain call reluctance and point out ways to overcome it • Describe elements of the preapproach and why planning activities are important to sales call success • Understand the sales manager’s role in prospecting and sales call planning 5-5 Qualifying the Prospect – 5 Key Questions 1. Does the potential prospect appear to have a need for your product or service? 2. Can the potential prospect derive added value from your product in ways that you can deliver? 5-6 Qualifying the Prospect – 5 Key Questions 3. Can you effectively contact and carry on communication/correspondence with the potential prospect? 4. Does the potential prospect have the means and authority to make the purchase? 5. Does the potential prospect have the financial capability to make the purchase? 5-7 Leadership 5.1 Classic Prospect Categories • Donald Trump (Direct) • Richard Simmons (Interpersonal) • Aunt Bea (Safety/Status Quo) • Albert Einstein (Contemplative) 5-8 Exhibit 5.1 From Leads to Customers 5-9 Prospecting is a Priority When… • A customer goes out of business • Your contacts in a client firm leave • Your firm needs to increase revenues • A customer moves to a location outside your sales territory 5-10 Exhibit 5.2 Sources of Prospects Other Prospecting Loyal Customers Endless Chain Referrals Prospecting by Others in Firm Networking Directories Cold Calls Written Correspondence Internet Telemarketing 5-11 Leadership 5.2 Networking 101 • Paradigm shift=>R-Zone • “Give first” approach • Understand needs • Put yourself “at source” 5-12 Innovation 5.3 Technology a Crutch? • Tech may be most efficient, but is it always most effective for communicating? 5-13 Exhibit 5.3 Trade Shows Rank High in Prospect Development 5-14 Innovation 5.4 Art of the Cold Call • • Develop methodology to overcome fear Telemarketing • • • Numbers driven Uses scripts Telephone prospecting • • Results driven Uses practice, knowledge, listening, understanding, familiarization, planning 5-15 Steps in a Prospecting Plan • Set specific, measurable, attainable goals • Study and practice various methods • Keep good records • Be prompt in follow-up • Pay attention to results of your efforts 5-16 Overcoming Call Reluctance • Sales managers can help salespeople by: • • • • • Using role plays and exemplar videos Prospecting with salespeople Setting realistic goals Training salespeople to view prospecting as a numbers game Supporting salespeople in targeting longterm clients 5-17 Elements of the Preapproach • Establish goals for the initial sales call • Learn all you can about the prospect • Plan to portray the right image • Prepare the presentation • Determine the approach 5-18 Sample First Sales Call Goals • To have the prospect: • Agree to a demonstration of your product • Agree to contact your references • Initiate the process to set your company up as a vendor • Set up another appointment with you 5-19 Exhibit 5.4 Sample Items to Research Before the Sales Call 5-20 Presentation Planning Items • • • • How much technology should I employ, and what types? How formal should the presentation be? How long should it be? How long for Q&A? What materials should I send the prospect in advance and what should I bring with me? 5-21 Tips for a Professional Image • • • • Dress in business casual if the client suggests it When in doubt, dress up to business attire Ask the prospect about the dress code during the preapproach Never dress down below the client’s level of attire 5-22 Dress to Achieve • Visit Syms Dress to Achieve website • Visit the “Basics”, “Men” and “Women” sections for general business dress guidelines • Visit the “Occupational Wardrobe” section to see specific sales dress information 5-23 Role Play http://www.mhhe.com/business/marketing/videos/RS/05_RP_prospecting_sales_call.mp4 5-24 5-25