A process designed to identify, qualify, and prioritize sales opportunities, and whether they represent potential new customers or opportunities to generate additional business from existing customers.
Sales Funnel (Pipeline)
Visualizes the trust based sales process vertically in the form of a funnel, rather than horizontally.
Sales Leads (Suspects)
Organizations or individuals who might possibly purchase the product or service offered by a salesperson.
Qualifying Sales Leads
The evaluation process used by salespeople to determine which sales leads are true prospects for their product or service.
-An individual or organization that has a need for the product or service.
-Has the budget or financial resources to purchase the product or service
-Has the authority to make the purchase decision
Ideal Customer Profile
The characteristics of a firm's best customers or the perfect customer.
The most extreme form of cold canvassing because salespeople merely make calls to organizations or individuals.
Occurs when salespeople contact a sales lead unannounced with little if any information about the lead.
A sales lead provided by a customer or some other influential person.
When the customer agrees to write a letter or make a phone call to introduce the salesperson to the prospect.
Centers of Influence
Influential members of the community who can potentially provide help in locating prospects. (Accountants, bankers, attorneys, teachers, business owners, politicians, government workers, etc.)
A salesperson selling noncompeting products. Can be a good source for prospects.
Business Networking International (BNI)
A formal organization with each local group consisting of noncompeting salespeople, having the general purpose of creating prospects for one another.
Information about customers in a company database. Can be a useful source of prospects.
Sales leads generated from company advertising efforts. Potentially a good source of prospects.
Involves a telephone number (usually toll free) that prospects or customers can call for information. Companies distribute toll free numbers by direct mail pieces (brochures), advertising campaigns, and their outbound telemarketing program.
Presents salespeople with excellent opportunities to collect leads. The company purchases and sets up booth space that clearly identifies the company and its offerings.
Firms can use these to generate leads and provide information to prospective customers.
Lists and Directories
Offer an inexpensive, convenient means of identifying leads. Available in a variety of sources published in print and electronic form.
Commercial Lead Lists
Designed to focus on virtually any type of business and/or individual. Available on paper or in convenient computer formats such as excel or word, ranging from simple listings of names, addresses, and phone numbers to more detailed listings with a full pr
A collection of information about a company that usually includes history, products, prices, and how to order or reach a salesperson if there is an interest in the products Used to attract potential customers.
Strategic Prospecting Plan
Should fit the individual needs of the salesperson. The focal point should be the goal stating the number of qualified prospects to be generated. Formalized goals serve as guides to what is to be accomplished and help keep a salesperson on track. The plan
Part of the strategic prospecting plan that records comprehensive information about the prospect, traces the prospecting methods used, and chronologically archives outcomes from any contacts with the prospect.
External Prospecting Sources
-Community Contacts (Centers of Influence)
-Organizations (Civic or Professional, country club, fraternal)
-Non-competing Salespeople (BNI) Business Networking International
Internal Prospecting Sources
-Lists and Directories
Personal Contact Prospecting
-Cold Canvassing (Cold Calling)
-Trade Shows/ Conventions
-Bird Dogs (spotters)