Week 3 Chapters 5 & 6
- 1. 5 Strategic Prospecting and Preparing for Sales Dialogue
- 2. Learning Objectives 5 Discuss why prospecting is an L 1 important and challenging task for salespeople. Explain strategic prospecting and L 2 each stage in the strategic prospecting process. Describe the major prospecting L 3 methods and give examples of each method.
- 3. Learning Objectives 5 Explain the important components L 4 of a strategic prospecting plan. Discuss the types of information L 5 salespeople need to prepare for sales dialogue.
- 4. Why Buyers Won’t See Salespeople 5 1. They may have never heard of the salesperson’s firm. 2. They may have just bought the salesperson’s product category, and there is presently no need. 3. Buyers may have their own deadlines on other issues, and they are not in a receptive mood to see any salespeople. 4. Buyers are constantly getting calls from salespeople and do not have the time to see them all. 5. Gatekeepers in any organization screen their bosses’ calls and sometimes are curt and even rude.
- 5. The Importance and Challenges of Prospecting 5 • Customer-bases are not permanent, salespeople may lose customers due to: – Low satisfaction – Competition – Economic fluctuation – Other forms of attrition • The prospecting process is can be long – It may take weeks to replace a lost customer with a new one – Revenue streams can fluctuate if “pipeline” isn’t managed • Prospecting isn’t easy and often includes a lot of rejection
- 6. The Strategic Prospecting Process 5 A process designed to identify, qualify, and prioritize sales opportunities, whether they represent potential new customers or Sales Funnel or opportunities to Pipeline: generate additional A representation business from existing of the trust- based sales customers. process and strategic sales prospecting process.
- 7. Strategic Prospecting Process 5 Sales Leads or Suspects • Generated from Internal or External Sources • Lead Generation Methods Should be Managed Qualifying Process • Need? • Financial Resources • Authority to Make Purchase Decision Sales Prospect Ideal Customer • Prioritize Prospect List Profile: • Initiate Pre-Call Planning The characteristics of a firm’s best customers or the perfect customer.
- 8. Popular Prospecting Sources & Methods 5
- 9. Developing a Strategic Prospecting Plan 5
- 10. Developing a Strategic Prospecting Plan 5
- 11. Gathering Precall Information: The Prospect 5
- 12. Gathering Precall Information: The Prospect’s Organization 5
- 14. Customer-Focused Sales Dialogue 5 Initiating Developing Enhancing Customer Customer Customer Relationships Relationships Relationships Customer-Focused Sales Dialogue Sales dialogue occurs Sales Calls over time and includes Follow-Up; sales calls and other Need Sales forms of buyer-seller Build More Discovery Presentations communication. Throughout Value the process, selling strategy must focus on customer needs and how the customer defines value.
- 16. Written Sales Proposal 5
- 17. Components of a Written Proposal 5 • Executive Summary • Customer Needs and Proposed Solution • Seller Profile • Pricing and Sales Agreement The quality of a • Suggested Action and Timetable salesperson’s written document is a surrogate for that salesperson’s competence and ability.
- 18. Evaluating Sales Proposal (Five Important Dimensions) 5 Reliability: reflects your (the seller’s) ability to identify creative, dependable, and realistic solutions and strategies and match them to the buyer’s needs and wants. Assurance: builds the buyer’s trust and confidence in your ability to deliver, implement, produce, and/or provide benefits Tangibles: enhance and support the communication of your message and invite readership by its overall appearance, content, and organization. Empathy: confirms your thorough understanding of the buyer’s business and his or her specific needs and wants. Responsiveness: developed in a timely manner and demonstrates a willingness to provide solutions for the buyer’s needs and wants and to help measure results.
- 19. Organized Sales Dialogues 5 • Several sales conversations over multiple encounters – Sales calls (e.g., Need Discovery, Presentation of Solutions, Follow-Up) – Other communication (phone, email, etc.) • Conversations are customized based on each customer’s unique characteristics (e.g., needs, communication style, etc.) • May include standardized sales and marketing communication materials (e.g., videos, brochures, etc.)
- 20. Discovering Needs – Review ADAPT 5
- 21. Sales Dialogue Template 5
- 22. Sales Dialogue Template (cont.) 5
- 23. Sales Dialogue Template (cont.) 5
- 24. Customer Value Proposition 5 Customer Value Proposition: A statement of how the sales offering will add value to the prospect’s business by meeting a need or providing an opportunity.
- 25. Buying Motives 5 • Rational Typically relate to the economics of the situation, including cost, profitability, quality, services offered, and the total value of the seller’s offering as perceived by the customer. • Emotional Includes motives such as security, status, and need to be liked; sometimes difficult for salespeople to uncover these motives.
- 26. Features and Benefits 5 • Feature A quality or characteristic of a product or service that is Fuel Efficient V-6 Engine designed to provide value to a buyer. • Benefit The added value or favorable outcome derived from Higher miles per gallon features of the product or reduces fuel costs. service seller offers.
- 27. Engaging the Customer 5 Request an appointment • Give the prospect a reason why an appointment should be granted • Request a specific amount of time • Suggest a specific time for the appointment