Prospecting for a corporation from sales

            Prospecting for a corporation’s business is much different from prospecting for an individual’s business. Corporate prospecting is essentially a numbers game in which the salesman who makes the most contacts will generate the most proposals, and the one who makes the most proposals will get the most business. In prospecting individuals, the competition is generally somewhat limited because most of it originates in the immediate geographical area. Also, most competitors are individuals purporting to be salesman who actually are something much less. In soliciting corporations, particularly the major ones, the competition often comes from national or international companies, and the salesman are likely to be throughly professional in every way.

            One offset to the greater competition is the fact that detailed information is much more readly obtainable concerning corporations than it is for individuals. For instance, someone publishes anunual directories of all corporations with a net worth of $1 million or more and those with a net worth of from $500,00 to $1 million. This firm also makes various information available on cards and tape, so specific groups of prospects can readly be solicited by mail. Many papers publish daiy comprehensive information on publicly owned corporations in this county. Itu is easy to read compilation of information on most of the larger publicy owned companies. Numerous states publish directories containing information on the manufacturers or businesses located in them. In addition, many industries publish directories of various sorts which make it possible to target specific users of a financial service.

            To examine the process of prospecting for sales to corporations, we will assume that you are the representative of a regional bank equipment leasing company. Your responsibility is to seek equipment leasing and financing business in a three state area. Your product is the lease or finance agreement for equipment in the $250.00 to $10 million range.

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