Given the numbers-driven nature of the sales game, it’s no surprise that most salespeople deliver a sales pitch to every prospect that comes their way. But is this a sensible approach when the working relationship with one’s clients plays such a large part in determining the success of your business?
Let’s imagine two very different clients. One has a real need for your product and the budget to make implementation possible. Their management team has experience in working with other businesses –specifically those in your industry – and they have realistic expectations regarding what to expect from your partnership.
Then there is that other client – the one who’s not entirely sure what they need. As a prospect, they probably weren’t completely open and honest with you when it came to their budget or capabilities, and they might not be realistic when it comes to expected results. The chances are you are one of the first businesses they’ve partnered with, and their understanding of a symbiotic relationship is still a bit shaky.
Qualify your leads before the sales pitch
If you hold up your end of the bargain, the first client will be a pleasure to work with. They will communicate their needs effectively, and when you deliver, they will reward you with more business and, more importantly, referrals. The second client, on the other hand, will make unreasonable demands, renege on what was originally agreed upon, and even tarnish your reputation.
The lesson learned too late by many businesses is that you need to vet your potential clients. But the trouble these clients can cause you is not the only reason you should be qualifying your leads. Undesirable prospects can also waste your time and energy in the time that it would take to convert them to customers – and some never close.
Your team has only so much of these precious resources, and a sales pitch given to an unsuitable lead is attention that could have been spent on a prospect who will become a valuable customer. To avoid wasting your own time and energy on unworthy leads, you need to qualify your prospects.
For some time, BANT has been the industry standard in lead qualification. This versatile system can be made tighter or looser according to your qualification needs, but every form should include four criteria: budget, authority, need, and time frame. The questions corresponding to these criteria could look like this (phrased here as they would be asked of a prospect):
Ask the right questions
- What are your company’s goals?
- What challenges do you face in trying to meet those goals?
- What resources do you already have to help you meet these goals?
- What’s your most important goal?
- What’s your most urgent priority?
- What results do you expect to see from the work we do together?
- What are your competitors doing that you’re not and wish you were?
- If we deliver on agreed-upon goals, what’s that worth to your company?
- Who has the last say where decision-making is concerned?
- What time frame do you expect to achieve your goals in?
As already pointed out, you want to ask these questions before meeting with a prospect. Making the appointment setting phone call is a great opportunity to make these pertinent queries. Even though the person on the other end of the phone is rarely a decision-maker in these cases, they will almost certainly be in a position to answer these questions.
Once you’ve recorded their responses, it’s time to sit down and compare their answers to the answers given by your ideal clients. What kind of picture does this paint? Do you see them going the distance and making the effort, or would it be prudent to cut your losses? If you decide that they are just the kind of client you are looking for, you are going to need to bring your A-game. For advice on how to deliver the best sales pitch possible, you can download our sales pitch guide below. In it, you will find information on how to find prospect opportunities and how to prepare a winning pitch.
Image Credits: wisegeek.org
