Sales prospects can be developed through networking, referrals, lead generation, and advertising queries. Lead generation involves asking individuals or companies if they are interested in a company’s products or services. Various methods include phone calls, online and traditional advertising, door-to-door solicitation, and professional networks.
Developing sales prospects involves networking, referrals and lead generation. One of the most common ways to develop prospects is to do phone calls or interviews. Sales reps gather market data on prospects from public lists and feed it into sales presentations. Prospects are also developed through advertising queries, including web-based forms that allow potential customers to submit their contact information.
Lead generation is one of the most used tactics in developing sales prospects. It can take many forms, but essentially involves asking a number of individuals or companies to see if they are interested in learning more about a company’s products and services. Lead generation usually involves verifying specific information that demonstrates that the individual or company may have a need for the company’s products.
For example, a senior health insurance distributor might call a registered list of individuals in the area who self-identified as being 65 years of age or older. The next step in the lead generation process might be to ask these people if they currently have health insurance coverage and what types they might be interested in. Some of the qualifying questions might ask about insurance costs, what respondents expect from an insurance plan, and whether they would be interested in hearing a presentation about alternative carriers.
Because many consumers find unsolicited phone calls intrusive, online and traditional advertising can provide less invasive lead generation methods. Sales prospects respond to ads requesting additional information from a company’s toll free number or local office. Contact information is obtained from these potential customers and stored in a database for later follow-up and request. Some of these request forms may include direct mail and email.
Many businesses that provide services in a specific local area can use flyers or door-to-door solicitation to get potential sales. Colporteurs will distribute tracts to households that are not currently using the company’s products or ask if they are using a competitor’s service. Giving out samples to non-customers is also a prospecting method that some companies use to get more customers. Additionally, calling former customers who have discontinued using services or products is another commonly used prospecting technique.
Professional networks can provide a customer base. Sometimes sales prospects are gained by word of mouth referrals from others who have used the company’s products or services. For example, a landscaping company that handles business accounts can gain additional referrals by participating in trade shows or advertising in trade magazines sponsored by professional affiliated organizations.
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