Prospecting is the searching for and calling upon customers who have not previously purchased from the company. This activity is not of uniform importance across all the branches of selling. It is obviously far more important in industrial selling than retail selling. Show Concept of prospecting Prospecting begins the process of converting prospects into repeat customers. A suspect or lead is a potential prospect, i.e. a person or an organization that might have a need for a salesperson’s product or services. If a salesperson determines the suspect has a real need for the product, then that person or organization becomes a prospect. The next step is for the salesperson to qualify the prospect to find out if that person has both the ability and authority to make a purchase. Once a qualified prospect is located process begins. Prospecting strategies The following are some of the prospecting strategies commonly used:
The prospect pool The referrals come from prospects and customers. Different sources of prospects form prospect pool. The prospect pool is a group of names gathered from various sources. Your source, for example may be mailing list, telephone book, referrals, orphans or existing customers. A prospect pool is usually created from the main sources such as:
Components of the prospect pool
The referral cycles Obtaining referrals is a continuous process without beginning or end. The salesperson is always looking for the right opportunity to find a referral. The referral cycle provides guidelines for a salesperson to ask for referrals in four commonly faced situations experienced by salespeople as shown below. The referral cycle
If you have a sales presentation at 10:00 am you can begin the referral cycle in the presentation phase. If you are delivering a product to a client you can start the cycle in the product delivery phase. If you are planning on making telephone calls to leads, referrals, orphans, or customers you can begin pre-approach phase. Referral cycle can begin at any point. The parallel referral sales Salespeople must sell the product, plus sell the prospect on providing referrals. Equal emphasis must be given to both product sales and referral sales. You must nurture a parallel referral sale from the time of the initial contact, such as when making appointment. The referral sale should receive equal importance, effort and emphasis as the product sale. This is the key to referral cycles. (Visited 150 times, 1 visits today) What are the four different types kinds of questions you might ask during a sales call?Top Best Sales Questions to ask on a sales call. Questions to build rapport with the prospects.. Questions to identify the prospect's problems and needs.. Questions to formulate the offered solution.. Questions to assess the prospect's budget and timeline.. Questions to explore the prospect's buying process.. What are referrals in sales?Referral selling is simply asking your current customers to refer your product to another company. You leverage the trust you've built with your customer, and the trust your customer has with the other company to open up a sales conversation.
What are four followHere are five simple steps to effectively follow-up after a sale.. Send a note to say thank you. Some companies send emails. ... . Check in. It's a good strategy to call clients a week or two after the sale and find out how everything is going. ... . Keep the lines of communication open. ... . Think second sale. ... . Ask for referrals.. When a salesperson identifies a potential deal that is referred to as?Step 1: Prospecting and Qualifying
This step is called prospectingIdentifying potential buyers for a product or service., and it's the foundational step for the rest of the sales process. A leadA potential buyer for a product or service that has not yet been qualified. is a potential buyer.
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