Prospecting Strategy
Purpose
In this procedure, the sales consultant conducts prospecting campaigns. The procedure also
explains the purpose of prospecting.
This procedure starts when the Sales Manager constructs the prospecting plan for the year.
It ends when the prospecting is complete for the year.
Procedure
Prospecting is vital for expanding the company’s operation and gaining new customers.
Through prospecting:
- More members of the community come to know the company.
- The company uncovers new clients with immediate or future needs for the services.
Aim of prospecting
- Locates new prospective sellers and invites them to have a sales appraisal and presentation.
- Raises the profile of the company by educating the community about its services.
Sales Manager
- Sets prospecting targets for the year
- Creates the Annual Prospecting Plan
- Supports the Sales Consultants in prospecting, by:
- Ordering printed materials
- Conducting mail outs
- Organising letter box drops
Sales Consultant
- Carries out the prospecting plan, including:
- Telemarketing
- Door knocking
- Letter boxing
- Preparing brochures and letters
Prospecting Plan
Foundation prospecting
Every three months, on a rotating basis so that some work is done each week
Contact the owners of every property using:
- Direct mail
- Letter box drop
- Telemarketing
- Door knocking
Prospecting after a sales listing or sale
Deliver 25-50 cards or letters or brochures to neighbours after the company:
- Signs an exclusive agency agreement for a sales listing
- Brokers an unconditional sale
- Is about to conduct an ‘open for inspection’
- Is about to conduct an auction
Prospecting hot spots
Every three weeks, the sales team conducts a hot spot meeting. This meeting decides on
‘hot spot’ areas to receive more intensive prospecting activity
- To prepare for the meeting:
- The Sales Administrator collates sales listings data to identify streets or areas with the highest concentration of sales listings, sales appraisals and presentations.
- The Sales Consultants prepare recommendations for the hot spots based on their current observations.
After agreeing on the hot spots, the Sales Team:
- Sends a personally addressed letter or brochure to each property owner
- Between one and two weeks after the mail out, Sales Consultants follow up every property owner with a personal visit, telephone call or brochure in their letter box
- Between one and two weeks after the first follow up, Sales Consultants conduct another follow up of a different type (for example, first follow up is a telephone call, second follow up is a personal visit.