Chapter 7
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Transcript of Chapter 7
Ch. 7 Prospecting—The Ch. 7 Prospecting—The Lifeblood of SellingLifeblood of Selling
Ch. 7 Prospecting—The Ch. 7 Prospecting—The Lifeblood of SellingLifeblood of Selling
Chapter
Chapter
7
Copyright © 2006 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin
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Exhibit 7-1: The Selling Process Has 10 Important Steps
10. Follow-up10. Follow-up
9. Close9. Close
8. Trial close8. Trial close
7. Meet objections7. Meet objections
6. Determine objections6. Determine objections
5. Trial close5. Trial close
4. Presentation4. Presentation
3. Approach3. Approach
2. Preapproach/planning2. Preapproach/planning
1. Prospecting1. ProspectingThe sales process is a sequential series of actions
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Some Prospect, Some Do Not
Many salespeople prospect, both those selling business-to-business and those selling to consumers
Examples are:
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Compensation for the Salesperson who Prospects is Often:
Based upon 100% commission – if you do not sell, you do not earn
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Prospecting–The Lifeblood of Selling
Qualified prospect is MADM
A
D
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Exhibit 7-2: Before the Sales Presentation
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Steps Before the Sales Presentation
Prospecting > appointment > planning Rule of thumb
40%20% 40%
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Prospecting–The Lifeblood of Selling
Prospect – Prospecting – Lead –
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Where to Find Prospects
Persons selling different services and goods might not use the same sources
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Planning a Prospecting Strategy
Prospecting requires a strategy that can be constantly improved
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Prospecting Methods
E-prospecting on the Web IndividualsOrganizations
Cold canvassing Endless chain – customer referral Orphaned customers Sales lead clubs
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Prospecting Methods, cont…
Prospect lists Become an expert – get published Public exhibitions and demonstrations Center of influence Direct mail Telephone and telemarketing Observation Networking
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Prospecting Guidelines
Three criteria are:1.Customize
2.Concentrate
3. Always keep knocking on prospect’s and
customer’s door to help them
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Exhibit 7-7: Components of the Prospect Pool
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The Referral Cycle
Obtaining referrals is a continuous process without beginning or end
Referral cycle – when and how to ask for referrals
The parallel referral saleSell Obtain
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The Referral Cycle, cont…
The secret is to ask correctly during referral cycleTheThe Product
Service and follow-up contact phase: Customer service
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Don’t Mistreat the Referral
Mistreatment can have a ripple effect The mistreated referral tells your customer –
you may lose both! Remember to follow the Golden Rule
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Treat the Referral Like a Customer
Once you have sold the referral, and gotten more referrals, ask the new customer to contact the referring customer about her experience with the salesperson
Now you have two customers giving referrals This can create an endless chain of referrals
quickly filling your prospect pool with only customers and referrals
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Call Reluctance Costs You Money!
Call reluctance refers to not wanting to contact a prospect or customer
For many salespeople, owning up to call reluctance is the most difficult part of combating it
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The 12 Faces of Call Reluctance, cont..
1. Yielder - Fears intruding on others or being pushy
2. Overpreparer - Overanalyzes, underacts
3. Emotionally unemancipated - Fears loss of family approval, resists mixing business and family
4. Separationist - Fears loss of friends, resists prospecting among personal friends
5. Hyper-pro - Obsessed with image, fears being humiliated
6. Role rejecter - Ashamed to be in sales
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7. Socially self-conscious - Fears intruding on others or being pushy. Intimidated by upmarket customers.
8. Doomsayer - Worries, won’t take risks
9. Telephobic - Fears using the telephone for prospecting or selling
10. Stage fright - Fears group presentations
11. Referral aversions - Fears disturbing business or client relationships
12. Oppositional reflex - Rebuffs attempts to be coached
The 12 Faces of Call Reluctance, cont…
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The 12 Faces of Call Reluctance: How to Conquer the Fear
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Obtaining the Sales Interview
Key factor in selling process is obtaining a sales interview
The benefits of appointment making Personally making the appointment