Prospecting is a marketing function

Quote:

Originally Posted by Frankie

Maybe "qualifying" isn't that big a part of prospecting.

Maybe the marketing department and the sales department can work on getting leads in their own ways.

IMO, "qualifying" is a distinguishing characteristic of "prospecting".

Yes the marketing department can generate leads but generally it will be the sales staff meeting and qualifying those leads.

You might think of prospecting as searching through the stack of leads to find those who are ready, willing, and able (qualified).

Quote:

Originally Posted by AZBroker

You might think of prospecting as searching through the stack of leads to find those who are ready, willing, and able (qualified).

That's a good point.

Prospecting is a marketing function because you use it to a) build brand awareness, b) invite new people to take a look at your product/service and c) plant seeds for your new business. It is not really a form of sales, however, prospecting may turn into a sale, but generally you are not closing a sale on your first prospecting call.

Quote:

Originally Posted by wlctrent

Prospecting is a marketing function because you use it to a) build brand awareness, b) invite new people to take a look at your product/service and c) plant seeds for your new business.

Can you expand on this? What does "prospecting" mean to you?

Prospecting or marketing is meeting people many ways - today walking I talked with a campus cop and prospected her leaving her with a business card and I prospected a woman taking a walk leaving her with a business card. I struck up conversations.

I did this two weeks ago and a week later placed a $1,600 order.

We've run radio spots, classified ads, etc. Prospecting for gold!

The best to all you prospectors.

MitchM

Quote:

Originally Posted by MitchM

Prospecting or marketing is meeting people many ways - today walking I talked with a campus cop and prospected her leaving her with a business card and I prospected a woman taking a walk leaving her with a business card. I struck up conversations.

I did this two weeks ago and a week later placed a $1,600 order.

We've run radio spots, classified ads, etc. Prospecting for gold!

The best to all you prospectors.

MitchM

Do you view marketing and prospecting as being the same thing MitchM?

Quote:

Originally Posted by AZBroker

IMO, "qualifying" is a distinguishing characteristic of "prospecting".

I may be wrong, but I believe in developing an automated qualification system. In my experience serious buyers are okay with it and it's tyre-kickers who find unprofessional.

Some years ago I consulted with some BMW dealerships. We designed a tough prospect qualification system to eliminate chronic test drivers. People couldn’t even get an appointment with a salesperson (never mind test drive thecars) until and unless they would send in a written proof that they actually had the money to buy a car. This cut down on tyre-kickers and allowed salespeople to better look after existing clients. For instance regularly sending them cards aqnd checking in "What else can I do for you?". And what happened? The referral rate started growing nicely. People loved the way they were treated, and started bragging about it to their friends.

Thoughts?

Quote:

Originally Posted by Bald Dog

People couldn’t even get an appointment with a salesperson (never mind test drive thecars) until and unless they would send in a written proof that they actually had the money to buy a car.

What would the downside be to this type of approach for a typical auto dealership?

marketing and prospecting go together - running a radion ad or putting out a flyer is marketing and taking an inquiry or calling back is prospecting.

MitchM

Quote:

Originally Posted by Jolly Roger

What would the downside be to this type of approach for a typical auto dealership?

I'm not certain. Maybe there are some disadvantages but we found the advantages outweighed them. So, we kept using the method.

Prospecting is a marketing function

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