PROSPECTING

Life Blood of Selling

A prospect is a qualified person or business that has a potential to buy your products or services. There are to reasons that a sale person must look constantly for new prospects: 1.Increase sales 2.To replace customers, who are lost over-time.

Ask seven questions before you select a prospect.

1.Does the business need my services/ product?

2. Does this business/ individual perceive a need or problem that may be solved/ satisfied by my product 3. Does this business has sincere desired to fulfill need?
4. Can the desire be converted to belief? 5. Have financial resources to pay? 6. Have authority to buy?

7. Will this potential prospect purchases be large enough to be profitable?

Where to find Prospect

Sources of prospect can be many depending on the product and service provided by sale person. These sources can be categorized as follows:
Personal acquaintances. Bird Dogs, who are people who know abut area residents, such as real estate agent, bank clerk, post man etc. News paper leads Directories. Old Accounts.

Prospecting Methods
Prospecting like other sale activities to the skill that can be constantly improved by the dedicated sale persons.
Cold Calls Direct mail Telephone and telemarketing Public exhibition and demonstration Center of influence

The best prospecting method is: Customize: - Choose a method which fits your firm needs (dont copy). Concentrate on high potential.

Does the Prospect Have a Definite Does Need of the the Is the Product? Prospect Prospects Have the Business Ability Worthwhile? to pay? Does the Is the Prospect have Prospect The authority Accessible? To Purchase?

Fig.: qualifying prospects by the attribute method

FACTORS

LOW
INTENSITY FO NEED

HIGH
IMPORTANT BENDFITS SATISFIED

UNIMPORTANT
SATISFIED
LOWER PROBABILITY OF

SATISFACTION WITH COMPETITIVE PRODUCTS

HIGHER SATISFIED PROBABILITY OF

DISSATIFIED

SATISFACTION WITH OUR PRODUCTS

PURCHASING

SOME

PURCHASING

NONE

NUMBER OF PEREVIOUS CALLS MADE ON PROSPECT

FEW YEARS PURCHASED COMPETITIVE PRODUCTS

MANY FEW

MANY YEARS PURCHASED OUR PRODUCTS

Fig.: Factors affecting the probability of purchase by the prospect.

Planning sales - call

Reasons for planning sales call
Builds self confidence. Develops atmosphere of goodwill Creates professionalism Increase sale.

Steps in planning sales call

Determination of sale call Objectives Determination of customer profile Development of customer Benefits Development of Sales presentation

Be Specific Who makes Measurable buying decisions Directly beneficial Competitors to customer Purchase policies

Sale presentation will contain the customer benefits.

Steps for Presentation

Step 1:- Select Features, Advantages & benefits of your Product to customer. Step 2:- Develop your Marketing Plan If selling to whole sellers or Retailer. How they will sell your product to customer. How Retailers should display the product, promote the product through advertising, prefer shelf space & position etc. Step 3:- Develop your Business proposition- Which includes items such as price percent make up, forecasted profit per squire of shelf space, ROI & payment Plan. The prospect mental steps occur in the following order a) Attention; b) Interest; c) Desire; d) Conviction; e) Purchase or Action (AIDCA)

OPENING THE SALES PRESENTATION

Opening

Closing

Handling Objectives

Securing Desire

Fig.: Elements of a sales presentation .

Presentation
DETERMINE BUYER NEEDS

ASCERTAIN PRODUCT FEATURES THAT PROVIDE NEED SATISFYING FENEFITS DEVELOP FENEFITS STATEMENT OR QUESTIONS

DEVELOP NEED

SATISFYING
BENEFITS FROM

FEATURES

Fig.: Getting ready to open

Buyer Says:
Whats your price?
What kind of terms do you offer? When can you make delivery? How big a copier should I get? Can I get this special price on an order I place now and next month?

Salesperson Replies:
In what quantity?
What kind of terms do you want? When do you want delivery? How big do you need? Would you like to split your shipment? Are those the sizes you commonly used? How big order do you have in mind.

Do you carry 8-, 12-, and 54- foot pipe?

How large an order do I need to place to receive your best price? Do you have the Model 6400 in stock?

Is that the one you like best?

Essentials of Closing Sales

While there are numerous factors to consider in closing the sale, the following are essential if you wish to improve your chances.
Be sure your prospect understands what you are saying. Always present a complete story to ensure understanding. Tailor your close to each prospect. Eighty percent of your customers will respond to a standard close. It is the other 20 percent your need to be prepared for. You should be prepared to give the expert the facts requested, to give the egotist praise, to lead the indecisive prospect, and to show down for the slow thinker.

Essentials of Closing Sales..

Everything you do and say should take into consideration the customers point of view. Never stop at eh first no. Learn to recognize buying signals. Before you close, attempt a trial close. After asking for the order shut up. Set high goals for yourself and develop a personal commitment to reach your goals. Develop and maintain a positive, confident, and enthusiastic attitude toward yourself, your products, your prospects, and your close.

1. Prospecting 2. Pre-approach
Persuasive communication

3. Approach 4. Presentation 5. Trial close 6. Determine objections 7. Meet Objections 8. Trial Close 9. Close 10. Follow up

Participating Proof

Demonstration
Dramatization

Visualization