Launching New Products by Westman John

Author:Westman, John...
Language: eng
Format: epub
Published: 2015-10-15T00:00:38.001000+00:00

Depending on response to these and other questions specific to the company and industry, the salesperson can categorize prospects into A, B, and C according to attractiveness and allocate efforts in proportion to the potential of the prospect.

Some markets have data on product usage that helps them segment prospects more precisely. For example, pharmaceutical companies can get data on total and new prescriptions by physician. They categorize physicians into 10 categories, or deciles, and combine this data with other factors to focus sales representatives on the highest-value prospects. Other factors include thought leadership, influence on peers, tendency to take on new products, and level of managed care influence. Combining the quantitative with qualitative information can guide the sales representative to approach the physicians who are most likely to buy large quantities of the product.

Prospects can be found from many sources. Existing customers can refer you to their colleagues. When you have a good relationship with a customer, you can ask “who do you know who could benefit from our products?” or “if you were me, who else would you talk to?” Prospects can be from your friends and family, social media contacts, professional group members, professional conferences, purchased lists, and other sources.

Prospects come from networking. Networking is creating relationships with people who can help you in your career. The most effective way to create a relationship is to help the other person. When you are in a situation where you can meet other people, adopt the mindset of helping the other people get what they want. This approach requires that you learn what the other person is looking for and that you listen carefully and ask questions that help your learn their needs. Then you can brainstorm with the other person on ideas that can help them. You focus on what the other person is looking for and how you will help them find it. In the course of the conversation, you can share what you want. Be sure to have a short introduction stating who you are and a question or statement that helps the other person understand why they should want to talk with you more about doing business with you.

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