Relationship selling through service mkt 173 chap 6

Main Topics The Tree of Business Life: Prospecting  The Sales Process Has 10 Steps  Steps Before the Sales Presentation  Prospecting—The Lifeblood of Selling  Where to Find Prospect

Main Topics

 The Tree of Business Life: Prospecting

 The Sales Process Has 10 Steps

 Steps Before the Sales Presentation

 Prospecting—The Lifeblood of Selling

 Where to Find Prospects

Main Topics

 Prospecting Methods

 Prospecting Guidelines

 The Referral Cycle

 Call Reluctance Costs You Money!

 Obtaining the Sales Interview

 Wireless E-mail Helps You Keep in Contact and

The Tree of Business Life: Prospecting

Guided by The Golden The Golden

Exhibit 6-2: Before the Sales Presentation

Steps Before the Sales Presentation

 Prospecting  Appointment  Planning

 Rule of thumb:

40% preparation

20% presentation

40% follow-up

Prospecting–The Lifeblood of Selling

 Prospecting – identifies potential customer

referred to as a suspect)

 Prospect – qualified person or organization

Prospecting — The Lifeblood of Selling

 Prospecting – identifies potential customers

 Lead – might be a prospect

 Prospect – qualified person

 Is prospect MAD? Does he or she have:

The Prospector Has the Most Challenging

Sales Career

Finds a lead

Converts the lead into a prospect

Sells one day, and

Sells in the future too

Some Prospect, Some Do Not

business-to-business and those selling to

consumers

Financial services, such as life insurance

Real estate

Some Prospect, Some Do Not, cont…

General Mills* and Colgate*

Compensation for the Salesperson that

Prospects is Often:

sell, you do not earn

Compensation for the Salesperson that

Does Not Prospect is Often:

and expenses such as car and office supplies paid

very long

Where to Find Prospects

might not use the same sources

Planning a Prospecting Strategy

Exhibit 6-4: Prospecting Methods that

Work!

Prospecting Methods

Individuals

Organizations

 (1)Cold Canvassing – law of averages

 (2)Endless Chain – customer referral

Customers and customer referrals best sources of future sales

Prospecting Methods, cont…

 (5)Public Exhibitions and Demonstrations

Exhibit 6-5: The Processing System Within

a Telemarketing Center

Exhibit 6-6: Reports From a Telemarketing Center to

Other Marketing Groups Within the Firm

Prospecting Guidelines

1.Customize to fit each prospect’s needs

2.Concentrate on high potential customers

3.Call back on no-buys

1 Always keep knocking on prospects’ and customers’ doors to help them.

Referrals Are Used in Most Prospecting

Methods

 Eight of the twelve popular prospecting

methods directly ask for referrals.

 Referrals can be directly used in:

 Cold canvassing

 Endless chain customer referrals

 Orphaned customers

 Sales lead clubs

 Public exhibitions and demonstrations

 Center of influence

 Telephone

 Networking

The Prospect Pool

 Prospect Pool – group of

names gathered from various

sources

Exhibit 6-7: Components of the Prospect

Pool

The Prospect Pool

 Leads – know very little or nothing about

 Referrals – learned from referrer

 Orphans – company records

 Your customers – most important prospects

The Referral Cycle

should ask for referrals

without beginning or end

 The parallel referral sale:

Sell the product to person

Obtain prospect name(s) from person

Exhibit 6-8: The Referral Cycle: When to

Ask for Referrals

The Referral Cycle cont…

 The secret is to ask correctly during referral cycle

 The preapproach contact phase

 Mention personal contact

 The presentation

 Build rapport (high-context cultures), explain agenda

 Product delivery contact phase

 Service and follow-up contact phase – customer

service

 Ongoing opportunities to maintain contact with customer

 Don’t mistreat the referral

 Be professional

 Follow through on what you have told referral

Don’t Mistreat the Referral

you may lose both!

Treat the Referral Like a Customer

experience with the salesperson

referrals

referrals quickly filling your prospect pool with only customers and referrals

Call Reluctance Costs You Money!

contact a prospect or customer

reluctance is the most difficult part of

combating it

Call Reluctance: How to Conquer the Fear

Obtaining the Sales Interview

 The key factor in selling process is obtaining a sales interview

 Appointment making:

Telephone appointment

Personally making the appointment

The Telephone Appointment

prospect may benefit from the interview

benefits

Personally Making the Appointment

Wireless E-mail Helps You Keep in Contact

and Prospect

office, customers, and prospects more

desperately than a sales representative

Summary of Major Selling Issues

beginning with prospecting for customers:

Find prospects to contact

Obtain appointments

Plan the entire sales presentation

Summary of Major Selling Issues, cont…

Cold canvas

Endless chain methods

Public exhibitions and demonstrations

Locating centers of influence

Direct mailouts

Telephone and observation

see the prospect