Generating leads is a vital part of the sales process. To help you get a better understanding of how to generate profitable sales leads, here are a few words to help you get a better understanding of the fundamental elements of selling.

Prospecting

Prospecting is essentially planning and researching. There are plenty of tried and tested clichés batted around warning you about the perils of not planning. “Failing to prepare is preparing to fail” is my favourite. But however worn out that saying is, it offers concrete advice.

The first stage in the selling process is research. Or prospecting.

This pre-sales research can be done from your desktop. It involves gathering as much information about your prospective client as possible. You can use search engines, news stories and social media to gather insight and background information on a prospect.

When prospecting, pay particular attention to how your product or service can provide a benefit to your potential customer.

Does it help them streamline a complicated process, saving them money?

Does it help them gain market share by doing something their competition doesn’t?

Once you’ve established how you can specifically help your prospect, the next part of the research stage is discovering who the key decision makers are. Make sure you aim for c-level and directors. It is far easier to be referred downwards than upwards.

Here’s an acronym to help with your prospecting:

MANACT

M – Money. Does a budget for exist? Can you create a business case for one?

A – Authority. Who is the key decision maker? Who will sign off on your proposal?

N – Need. What specific business need are you helping to fix?

A – Action. As the sales person, what future actions can you prepare for now?

C – Is the deal competitive?

T – Create a series of time bound events, leading to the sale being closed.

Presentation

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