Hospitality Sales: Prospecting and Customer Development

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Questions and Answers

Why is prospecting an important part of the hospitality sales process?

Because it is a way to fire underperforming salespeople

Because it brings new business or repeat business to the hospitality organization (correct)

Because it helps to build a strong relationship with current customers

Because it is a way to advertise hospitality products to a wider audience

What is a major assumption that hospitality salespeople should avoid?

That the competition will always offer better prices

That current customers will provide adequate repeat business (correct)

That prospective customers will always be interested in hospitality products

That the salesperson's product or service is the best in the market

What is a reason why potential customers may avoid speaking with hospitality salespeople?

Because they have a personal connection with the salesperson

Because they are already loyal to the salesperson's organization

Because they are not interested in hospitality services

Because they have already planned an event with another hospitality organization (correct)

What is an example of a prospect?

An individual who has never done business with the hospitality organization Signup and view all the answers

Why may repeat customers purchase less in changing market conditions?

Because their needs have changed Signup and view all the answers

What may happen if the prospect does not perceive the value of the salesperson's product or service?

They will avoid speaking with the hospitality salesperson Signup and view all the answers

What is the primary goal of qualifying prospects in hospitality sales?

To allocate time and sales efforts efficiently Signup and view all the answers

Why is the question 'What do you think of this product?' effective in customer interviews?

Because it is intentionally vague and allows for open-ended responses Signup and view all the answers

What is the purpose of asking 'What should we discontinue doing?' in customer interviews?

To focus on core competencies and eliminate non-essential activities Signup and view all the answers

How do hospitality sales professionals categorize prospects based on their potential?

Into A, B, and C sales prospects Signup and view all the answers

What is a key characteristic of an effective qualifying question in hospitality sales?

It is open-ended and allows for a range of responses Signup and view all the answers

Why is it important for hospitality sales professionals to identify the decision-making authority of a prospect?

To ensure that the sales professional is targeting the right person Signup and view all the answers

What is the ultimate goal of conducting customer interviews in hospitality sales?

To gain insights that inform sales strategies and improve customer relationships Signup and view all the answers

What is a key benefit of using the three qualifying questions in hospitality sales?

It allows sales professionals to allocate time and sales efforts efficiently Signup and view all the answers

What is the purpose of asking 'Why?' repeatedly in a sales conversation?

To get down to the heart of a particular challenge Signup and view all the answers

What is a 'pain point' in the context of sales conversations?

A customer's frustration or challenge Signup and view all the answers

What is a common difficulty with using cold calling as a prospecting method?

Rejection comes easily Signup and view all the answers

What is a 'sales blitz' in the context of hospitality sales?

A drop-off of promotional materials at targeted office buildings Signup and view all the answers

What is the purpose of asking 'What bothers you the most about this product?' in a sales conversation?

To identify the customer's pain points Signup and view all the answers

What is a characteristic of a great hospitality salesperson?

They have many methods to acquire prospective customers Signup and view all the answers

What is an example of a public source of prospects for hospitality sales?

The internet Signup and view all the answers

What is the benefit of drilling down into the specifics of a concern in a sales conversation?

To provide hard evidence to support or reject a feature idea Signup and view all the answers

What is a key advantage of hosted buyer trade shows for vendors?

They provide a platform to meet with qualified buyers. Signup and view all the answers

What is the primary purpose of a hospitality salesperson visiting their competitors' hotels?

To gather information on businesses holding meetings and events. Signup and view all the answers

What is a crucial element of a hospitality salesperson's plan for prospecting to gain access?

Time management. Signup and view all the answers

What do contact targets in a prospecting plan refer to?

The number of new prospects acquired over a period. Signup and view all the answers

What is a benefit of keeping good records in a prospecting plan?

Monitoring performance and identifying areas of success. Signup and view all the answers

What is a key factor in acquiring confidence for a hospitality salesperson?

Thorough knowledge of the hospitality organization's products and services. Signup and view all the answers

What is a primary goal of collecting information during prospecting for access?

To identify the prospect's wants and needs. Signup and view all the answers

What is a characteristic of a hosted buyer trade show, such as IMEX America or IMEX Frankfurt?

It attracts a large number of meeting and event professionals. Signup and view all the answers

What is the primary goal of a hospitable salesperson?

To develop new clients Signup and view all the answers

What is the first step in prospecting for hospitality sales?

Generating potential prospects for the hospitality organization Signup and view all the answers

What is an important aspect of understanding prospective customers' needs?

Determining the prospective customer's budget Signup and view all the answers

What is a unique prospecting opportunity for an existing business?

Reviewing current files for repeat business opportunities Signup and view all the answers

What is the purpose of evaluating leads in hospitality sales?

To determine which prospects are most likely to buy Signup and view all the answers

What are the three elements to consider when qualifying a prospect?

Need, budget, and financial ability Signup and view all the answers

Why is it important to stay positive when prospecting in hospitality sales?

To stay motivated and focused Signup and view all the answers

What is the purpose of having bullet points ready when leaving a voice message or at a loss for words?

To effectively communicate with the prospect Signup and view all the answers

Study Notes

Effective Questioning

Ask open-ended questions to gather specific information and understand customer needs.
Use "Why?" or "Why not?" to drill down into the specifics of a concern.
Ask "What bothers you the most about this product?" to understand customer pain points.
Pair "why" questions with "what bothers you" to understand frustrations.

Sources of Prospects

There are many sources and methods for prospecting, including cold calling, referrals, and networking.
Cold calling is an inefficient method, but can be effective with a sales blitz technique.
Sales blitz involves dropping off promotional materials and scheduling meetings with qualified buyers.
IMEX America and IMEX Frankfurt are popular trade shows for hospitality sales professionals.

Prospecting Plan

A hospitality salesperson's plan should include time management, recordkeeping, confidence, and monitoring.
Set targets for acquiring new prospects and develop an inventory of prospects.
Identify areas of success and develop confidence through knowledge of products and services.

Collecting Information

Collect information prior to and during contact with prospects, including current customers, former customers, and new individuals.
Identify prospective customers and understand their needs, which may change over time.

Six Open-Ended Questions

Ask questions to produce insights, such as "What do you think of this product?" to understand customer opinions.
Ask "What is the single thing I can do to make things better for you?" to learn from customers.
Ask "What should we discontinue doing?" to identify areas for improvement.
Use these questions to remain focused on core competencies and develop new clients.

Prospecting Tips

Block out time to regularly prospect without distractions.
Set achievable goals and learn as much about the prospect as possible.
Have bullet points ready for voice messages or when at a loss for words.
Stay positive and persistent.

Qualified Prospects

Identify qualified prospects by evaluating their needs, budget, and decision-making power.
Rank prospects for potential access and prioritize efforts accordingly.
Evaluate leads to determine which prospects are most likely to buy from the hospitality organization.

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Description

Learn about the importance of prospecting in hospitality sales, including identifying potential customers and developing an inventory of prospects.