Chapter 4 Flashcards
Prospecting
any activity used to discover potential new customers
Lead generation
the process of identifying potential customers
Identifying leads
process of generating names of potential customers
Qualifying leads
evaluating potential customers in terms of how likely they are to buy
Leads
names and addresses of potential customers
Referral
when a third party voluntarily provides the name of a potential customer
Networking
developing professional and social contact with others
Cold calling
making unsolicited calls to people or firms to sell to them
Warm calling
a variation of cold calling involving preliminary research on the prospect
Email Prospecting
sending unsolicited emails to a contact list to invite them to find out more information about your product
Social Selling
using social media to interact with potential customers
Marketing Qualified Leads (MQLs)
potential customers who have intentionally shown interest in a product through their online actions or behaviors
Sales Qualified Leads (SQL)
leads that have been vetted by salespeople and judged to have a high potential to actually purchase the product
Sales cycle
average amount of time it takes a new prospect to become a customer
Conversion ratios
calculations in percent of how many prospects become qualified prospects, how many qualified become hot, and how many hot prospects become customers
Outbound Marketing
traditional approach to marketing, including radio, TV
Inbound Marketing
efforts that utilize internet technology to find potential customers who are actively searching for a product
