PROSPRCTING-1

Agents & Prospects Phycology

• Rtn. P.S. Ravindiran,

• Chennai
• 9444407791 ; 9789083237
• nalurpsr@nalurpsr.com
 PROSPECTING
• Who is a prospect?
• The ability to buy a product
• What is prospecting?
• To find a suitable person to buy a product
• Suppose a 28 year old boy wants to marry,
what are the ways to find a bride
• Hence the seller and the buyer should match
in many ways
• i.e. the seller should know fully about his/her
product and to some extend selling skills.
 PROSPECTING
• Prospecting is one of the most feared and
disliked activities in selling, especially when it
involves cold calling.
• But prospecting is completely essential
• A good sales person treats it, as a
professional and necessary part of the job

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 The Prospect Is...
• A ‘PROSPECT' in short to approach
'prospective customer'. It may be a person or
company.
• A Lead is more than a Prospect
• A ‘LEAD' is information about a person or
company who may become a prospect. Thus
one might give you the number of LEADs
might benefit you to sell your product
• As soon as you make a sale, you should ask
for leads
 The Prospect is...
• If a sales person not asking for leads after
sales, he/she is the foolest person on the earth
• A prospect is a “PERSON”
• Always remember that leads and prospects are
people, with feelings and lives, like yours. They
struggle, succeed and fail. They are not a
number and not a thing.
• Prospecting is searching for prospects. Just as
a person searching for GOLD.
 The Prospect Is...
• ...necessary
• Prospect is the person whom you have
spotted
• Whereas a LEAD is a also a person and also
a prospect. But the difference is that the lead
is given by someone and selling will be easy
than the former.
• ...difficult
• Prospecting is also difficult. In prospecting,
you often have to talk to a lot of people before
you find a person, who will buy from you.
 The Successful Prospector
• Prospecting is not always an easy job and
successful prospectors are worth their
weight in gold and should earn it too.
• Optimism (Highest or Peak)
• “Confidence” and “Flexibility” are most
important attributes of sales person who is
prospecting, in particular cold calling
• You have to keep on believing you will find a
buyer, whilst receiving seemingly endless
rejections (some of which may not be very
pleasant).
 The Successful Prospector
• An attitude of liking people also helps. When
you talk with another person you quickly pick
up on interest of common nature
• For this you should try to start with “Interest of
common nature” and should not start right
from your product
• Instinct
• The successful prospector, develops a 'nose‘
• When talking to people an instinct should be
developed, whether the person is likely to buy
or not
 The Successful Prospector
• Persistence
• The successful prospector digs a lot of holes,
and quickly. If you have the basics,
prospecting is often just a numbers game.
• You may also be able to persuade those who
are uncertain to take the next step.
• Prospecting is not just a matter of writing and
calling. It involves a repeatable and well-
proven methodology. Sales people who get
the structure and process right are more likely
to succeed. This includes gathering and
managing data, wording of letters, emails and
phone calls.
 Fish Where The Fish Are
• The drunk and the key
• We are often like the drunk. We look for
customers in places where we are more
comfortable and in doing so miss out on many
possible leads and sales, which is available
else where.
• Sales leads and prospects are found all over
the places and not just where you think they
should be or where they were last time you
took.
 Fish Where The Fish Are
• A common trap is to fish in the same pond
until it is pretty much fished out.
• So get out there and find prospects where
they might be. Look in strange places and
think about people who might not be
approached by others and now it could be for
you
• One of the hardest things for a sales person
to deal with is a flat refusal, which is perhaps
why cold calling is one of the most disliked
activities.
 Dealing With No
• If, however, you can turn a refusal into an
interesting and valuable experience, then your
job can become much more interesting!
• Don't take it personally
• It's easy to take a rejection of a product or
sales call as a rejection of you, personally. It
seems as if the people don't like you in some
way, or that you have personally failed

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 Dealing With No
• If you take this position, you are going to be
a very sad person. Sales is full of rejections.
You need at least to learn to put failures
behind you. Look forward. There are many
more people out there, who are desperate
for what you are selling.
• Separate the problem from the person, just
as you might when you are selling.
 Dealing With No
• Leave the door open
• Thank the person, whatever they say. Thank
them for their time and for listening. Appreciate
their situation and why they are not ready to
take things further today (note that they may
be ready another day).
• Never take revenge, even with little sarcastic
remarks, because that will mean that at
minimum they will never buy from you or your
company again and maybe they will take
revenge on your revenge, such as calling your
boss or complaining about aggravation.
 Dealing With No
• Learn from it
• Take the opportunity to learn from what
happened.
• Think about the conversation, what was said
and how it flowed. Think about the body
language and voice tone.
• Were there any key moments when things
went twisted?
• How might it have been different?
• Consult other salesperson, perhaps you
admire?
 Dealing With No
• Do you have any deep needs or limiting
beliefs or preferences that are getting in the
way?
• If they are not ready now to buy, you may ask
them for feedback on how you performed as a
sales person and how you can be more
effective.
• This can be effective sometimes are re-
opening the door as they realize that you are
a concerned person.

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 Three Customer Types
• Three factors:
• 1) Know problem:
• The customer may or may not know that they
have a problem that need to be solved. The
sales person needs to know it and to give the
solution, then he can make the deal.
• Finally a customer who many sales people
avoid as they often require more selling. These
prospective customers do not know they have a
problem or are not motivated to solve it. They
thus repel initial advances by the salesperson.
 Three Customer Types
• 2) Motivated to solve the problem:
• a) When the customer knows that they have
a problem, they must be motivated to solve
it.
• b) They know problem and they approach the
sales person with the question 'I need an X,
do you have one?'
• If the sales person has what is wanted, then
the sale is easy and quicker to finish
• This can be problematic if the sales person
does not have what is wanted and might offer
an alternative solution
 Three Customer Types
• This requires to convince the customer that
it is better than what he initially asked for.
• c) They approach the sales person with a
'Help me' request.
• This is the ideal customer as you help the
customer to solve the problem and makes a
sale in the process. But you should be sure
that the product sold actually can solve the
problem.
 Phone call ethics
• When you phone a person in cold-call or
prospecting, verify the person
• Impressions are formed in first few seconds
• Even in this short task, your words can make
a difference.
• Good morning. I am Ravindiran, Officer LIC
• Is that Mr. Jones?
• Am I speaking to Mr. Jones?
• Am I talking with Mr. Jones?
• If I tell you a way to protect your FAMILY
STATUS or FUTURE OF CHILD, will you be
interested?
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• Identify yourself The Cold Call Sequence

• They will want to know who you are, so quickly
and simply introduce yourself and your
company.
• Do not try to gain credibility by telling them
how wonderful you are. This will only lose, not
gain, respect.
• Tell them why you're calling
• Give them good reason to continue to
converse with you by explaining clearly why
you are calling.
 The Cold Call Sequence
• Again beware of falling into a promotional pitch
that turns them off rather than gets them
excited.
• If he say YES for appointment, always use
closed ended questions and not open ended
• When can I have appointment is open ended
• Can I have appointment TOMORROW is close
ended
• Before you move on, you need to know
whether it is worth your spending more time
with them. You thus need to do an appraisal
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• Quick Qualification: Shall put your wife as

nominee, Shall I take your retirement age as
60 and so on.
• This method is called getting SMALL YES to
close for a BIG YES
• If they are qualified out by their response,
thank them and hang up.
• If qualified ask for lead, let them say anything.
Its your job
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