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1. Definition

1.1. process of locating potential customers for a product or service

2. Importance

2.1. salespeople need to find new customers to replace those who change to the competitors or go bankrupt, move, or others

3. Characteristics

3.1. lead; potential prospect that might or might not be a true prospect

3.2. qualify the lead; ,means it is not longer a lead, now it is a prospect

3.2.1. How to qualify leads? Use the next questions: Does a want or need exists? Does the lead have the ability to pay? Does the lead have the authority to buy? Can the lead be approached favorably? Is te lead eligible to buy? Others: for example by likelihood of buying, timing of purchase, etc.

4. How and where to obtain prospects?

4.1. Satisfied customers

4.1.1. most effective source of leads

4.1.2. calculate customer referral value

4.2. Endless chain

4.2.1. salespersons attempt to get at least one extra lead from each person they interview

4.3. Networking

4.3.1. using personal relationships by cooperating individuals to achieve goals

4.4. Center of influence

4.4.1. salespersons get influential people to supply lead information

4.5. Social media

4.5.1. use of  online tools

4.6. Other Internet uses

4.6.1. websites, e-mail lists, bulletin boards, forums , roundtables and newsgroups

4.7. Ads, direct mail, catalogs, and publicity

4.7.1. used to generate leads

4.8. Shows, fairs, and merchandise markets

4.8.1. also use to generate leads

4.9. Webinars and seminars

4.9.1. also use to generate leads

4.10. Lists and directories

4.10.1. salesperson uses secondary free or fee-based data sources

4.11. Databases and data mining

4.11.1. data analysis software to generate leads

4.12. Cold Calling

4.12.1. waste of time

4.12.2. considered rude

4.13. Spotters

4.13.1. pay a fee

4.13.2. provides leads

4.14. Telemarketing

4.14.1. systematic program of communicating via telephone

4.15. Sales letters

4.15.1. must contain objective, then benefits and captivate the reader

4.16. Other sources

4.16.1. salespersons uses his own firm, friends and family

5. Lead qualifications and management systems

5.1. Lead management system; not only qualify leads but also carefully analyze the value of each lead

6. Overcoming a reluctance to prospect

6.1. do not stereotype salespeople, they struggle to get prospects although they are well trained

6.2. Activities that may help:

6.2.1. Listening excuses from other salespeople

6.2.2. Engage in sales training

6.2.3. Make prospecting contacts with supporting partner or sales manager

6.2.4. Set specific goals

6.2.5. Stop Negative self-evaluations

6.2.6. Among others

7. Selling Yourself

7.1. not all jobs are going to be good prospects for you