PROSPECTING

chapter 7

Mary Rose Miguel

Geneveive Lara
Angelo Cachico
 Mary Rose Miguel
BSBA Major in Marketing Management
 Objectives
 To know why prospecting important for effective
selling.
 To know the characteristic of a good qualified
prospect
 To know how can prospect be identified
 To know how can the organization’s promotional
program be used in prospecting
 To know how can an effective lead qualification
and management system aid a salesperson.
 To know how can a salesperson overcome a
reluctance to prospect.
Importance of Prospecting

Prospecting the important process of

locating potential customers for a product
or service, is critical whether you are new
or seasoned sales professional.
Characteristic of a Good Prospect

Prospect actually begins with locating a

lead, a person or an organization that may
or may not have what it takes to be true
prospect.
Some people mistakenly consider every
lead a prospect without first taking the
time to see whether these people really
provide an opportunity to make a sale.
 Characteristic of a Good Prospect

 Does the lead have want or a need that

purchase of my products or services can
satisfy?
 Does the lead have the ability to pay?
 Does the lead have the authority to buy?
 Can the lead be approach favourably
 Is the lead eligible to buy?
Does a want and need exist?
Does the lead have the ability to
pay?
Does the lead have the
authority
 Can the lead be approached
favorably?

some leads with a need, the ability to pay,

and the authority to buy may still not
qualify as prospects because they are not
accessible to the salesperson.
 Is the lead eligible to buy?

Eligibility is an equally important

factor in finding a genuine
prospect.
 Other Criteria

Relevant question to consider include, when does

the prospect’s contract with our competitor
expire? And is a purchase decision really
pending? How do we know? Still other firms look
at the long-term potential of developing a
partnership with a lead?
 Geneveive Lara
BSBA Major in Marketing
Management
 How and where to Obtain
prospect?

Prospecting sources and methods vary for

different types of selling.
 How and where to Obtain
prospect?

Satisfy Customer
particularly those who are truly partners
with the seller, are the most effective source
of lead.
satisfy customers not only provide leads but
also are usually prospects for additional sales.
 How and where to Obtain
prospect?
Endless-Chain Method
sales representatives attempt to get at
least one addition lead from each person they
interview.

Referral lead, the name of a lead provided by

either customer or a prospect and its
generally considered the most successful
lead.
 How and where to Obtain
prospect?
Networking
the utilization of personal relationship by
connected and cooperating individuals for the
purpose of achieving goals.

Networking crucial in many selling situation.

Center-influence method
salesperson cultivates a relationship with
well-know, influential people in the territory who
are willing to supply the names of leads.
 How and where to Obtain
prospect?
The Internet
successful salespeople are using Web sites, e-
mail, listservs, bulletin boards, forums,
roundtables and newsgroups to connect to
individuals and companies that may be
interested on their products/services.

Banner advertising consist of ads placed at the top,

sides or bottom of a web page, encouraging the
viewer to visit a different web site.
ADS, DIRECT MAIL, CATALOGS,
AND PUBLICITY

Firms have developed sophisticated system to

generate inquiries from leads by using
advertising and direct mail.

The firms also places advertisements in trade

publications, such as presentations.
Shows, fairs and merchandise
markets
Many companies display or demonstrate their
products at trade shows, conventions, fairs and
merchandise markets. Sales representative are
present to demonstrate products to visitors,
many whim salespeople have not called on
before.

Merchandise markets are places where suppliers

have sales officers and buyers from resellers visit
to purchase merchandise.
Lists and Directories

Individual sales representatives can develop list

from sources such as public records,
telephone directories, chamber of commerce
directories, newspaper trade publications,
club membership lists and professional or
trade membership lists.
Cold calling

In using the cold canvass method or cold call

a sales representative ties to generate
leads for new business by calling on totally
unfamiliar organization.
Spotter

 Some salespeople use spotter, also

called bird dogs, these individuals will,
for a fee provide leads for salesperson.
The telemarketing
Telemarketing is a systematic
in continuous program of
communicating with
customers and prospects
via telephone.

Telemarketing is not limited

to consumer sales.
Lead qualification and manage
systems

 salespeople need to develop a process for

qualifying leads, often called a lead
qualification system. Many firms view
prospecting as a funnelling process in. Which
a large number of leads a funned into
prospects and some finally into costumers.
Summary

locating prospective customers is the first step in

the sales process. New prospects are needed to
replace old customers lost for a variety of
reasons and to replace contacts lost in existing
customers because of plant relocations,
turnover, merger, downsizing and other factor.

not all sales leads qualify as good prospect.

A qualified prospect has a need that can be
satisfied by the salesperson and is eligible to buy.
 Summary
many methods can be used to locate prospect. The best
source is a satisfied customer. Salespeople can also use the
endless-chain method, networking, list and directories, cold
canvassing and spotters.

Companies provide leads to salespeople through promotional

activities such as internet, inquires from advertising and
direct mail, telemarketing, trade show, merchandise
marketing and seminars.

effective prospecting requires a strong plan that hinges on

developing a lead qualification and management system and
overcoming reluctance to prospect.
THANK YOU!
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