The organization BL's prospecting approach is very attractive and efficient. Their prospecting policy is to meet or contact as much customers as they can and to convert them into prospects. This is an effective approach to build customer base and to increase the sales volumes.
They also rely on trade fairs and advertisement on social media. These processes, especially social media, increases the reach of any organization and thereby helps to generate a huge list of prospects These approaches are risk free and does not cause any harm to the organization. The only risk is of hampering the conversion ratio if the company fails to serve this huge list of prospects.
Prospecting stands for the process wherein a firm locates potential customers for its products or services and tries to make these customers into the regular buyers of the firm's offerings.
The following is a referral event by Mr. Y who is a member of a club in his college and this referral event targets students who are not in his club-
Mr. Y is a member of a book club in his college and through his contacts he had been considered as a referral by a company that is into the selling of software for the students that is capable of making them know what activities had been taken in the class everyday. This app could be more useful for the students who were absent for particular day/days from the college as the teachers will be feeding the details of the topic and assignments that they have assigned to the class for that day.
In this event, alongwith the students who are a part of Mr. Y's club, the students who are non-members could also be made attracted towards this app and a potential customer of the same. This will successfully make the event worthy enough to pool large number of students as the buyers of this application by paying a certain monthly fee.
Spotters are individuals who provide information about prospective customers to the sales person in return of specified fees. The information provided by these individuals is genuine.
In the presented scenario, the spotter provided the sales person with more than required information about the customers. Some of this information is confidential. Revealing this information to other by the salesperson will be considered as an unethical activity. The spotter gave this information under his own risk and belief that the sales person won't reveal it to anyone else. Therefore, the salesperson should filter out the data to separate out non-confidential information before using or revealing it to others.