Chapter 6 Notes

A prospect is more than just a name; it's a potential customer who has the need, authority, and ability to buy. Unlike general leads, prospects are qualified and worth pursuing. Salespeople prioritize prospects because they represent real opportunities. Turning prospects into buyers is the ultimate sales goal.

Networking in this context means leveraging every conversation to find new leads. Salespeople ask each contact if they know someone else who might be interested. This creates a chain of potential clients through word-of-mouth. It’s a powerful strategy that builds momentum over time.

Referred leads are highly valued because they come from trusted sources. These leads are more likely to respond positively since they come with a built-in level of credibility. They often convert at higher rates than cold leads. Salespeople actively seek referrals because of their success rate.

Networking is all about building and using relationships to open doors and gain new opportunities. These connections can introduce salespeople to prospects they wouldn’t reach otherwise. It emphasizes trust and mutual benefit in business relationships. Networking is both a strategy and a long-term investment in success.

Industrial trade directories are categorized as secondary sources because they compile information from public or compiled data. They can help salespeople identify businesses or contacts in a particular industry. While not as direct as referrals, they offer a starting point for outreach. They support prospecting efforts by expanding the lead pool.

A blitz is an aggressive and organized sales tactic targeting a specific area all at once. It typically involves a team of salespeople working together on the same day. The goal is to generate as many contacts and leads as possible quickly. It’s often used to saturate a new market or territory.

Spotters are paid to inform salespeople when someone is nearing a purchase decision. They act as scouts and gather intelligence from within communities or networks. This approach can give salespeople a head start on warm leads. Spotters are especially useful in high-value or specialized markets.