Sales Qualification

One common practice among startup businesses is focusing too much on getting their products out there.

We hate to be the bearer of bad news but this approach often is the cause of many companies losing time, money, and resources without gaining any advantage at all.

The truth of the matter is, even if you have a cutting-edge marketing strategy or perhaps even have the best product in the market - if you are presenting it to the wrong audience, your brilliant ideas are guaranteed to go straight into the wheelie bin.

However, another challenge that many of us fail to recognise is that not all those who expressed interest in our services or products will purchase.

So, how do we declutter to ensure that we’ve got the right prospects in our pipeline?

This is where Sales Qualification comes in.

Sales qualification is an integral part of the entire sales process wherein you discover which of your prospects are definite customers. This will save you from all unnecessary troubles by avoiding those who are not sure to avail of your services or are simply not suitable for your products.

Here are 14 fool-proof tips that will certainly help you filter through the buzz when getting customers.

  1. See through their lenses
    Learn what success is according to your prospect's ideals and make sure what you offer is at least similar to what they have in mind before pursuing the deal. Otherwise, you might just only end up with a negative review and a detractor point.
  1. 'Past is Past' does not always apply
    Is your prospect having a recurring issue and has resorted to multiple attempts at trying different solutions but still failed? By learning more about your prospect's previous steps, it will help you determine which of your services is the perfect choice to solve the said issue and thus converting them into customers.
  1. Business and pleasure
    Your prospect is not only a potential customer; they are also your possible ally. So, it's definitely a plus if your prospect is also personally invested in the solution you present as they will serve as a more reliable key marketing person in convincing the purchasing committee to use your product than your very own salesperson.
  1. Workforce drama
    Sometimes, the troubles we meet when dealing with projects are caused by the very people your prospect is working with. To avoid this, make sure you have the support from everyone onboard the project. Through this, you do not only get to steer away from barriers, you also administer efficiency in your processes.
  1. Thank you, next!
    Are you sick of hearing, 'History repeats itself'? News flash alert, so do your prospects. Reflecting our tip numero dos, make sure to study your prospect's previous unsuccessful relationships with products similar to yours and observe what their ideals are for considering what counts as a 'good' or 'bad' product. You might be surprised to find out how suitable or unsuitable your product is for your prospect, therefore knowing whether to pursue or disqualify them this time.
  1. Segue your way in
    Every prospect deals with problems every now and then, but not all problems have that much impact so much so that most of these are best ignored. However, keep in mind that not all prospects truly know what happens when they choose to disregard a certain issue. This is the part where you come in and explain the possible consequences of their action and how your products can help them avoid unwanted mishaps. *wink wink*
  1. Caught in the middle
    What's worse than not having the right prospect, you asked? It's having the right one but still failing to convert them into an actual customer because of miscommunication and misunderstanding within their business functions. That is why we greatly encourage you to get in touch with the 'Who's who' of your prospect's circle and learn what their roles are in the project.
  1. Don't just trust the process, learn about it
    Get to know your prospect's budget approval process. Be in contact with all important financial authorities within your prospect's business as soon as possible to avoid delays or complications.
  1. Make sure they are worth it
    They say that money is the root of all evil, but in this case, it is the root that keeps our Business Development tree standing strong. If you're putting out more than gaining money, your business isn't really developing. Always practice qualifying on budget. Pursue only those prospects that can either: a.) afford your products and services; or b.) pay the required amount within the set time frame.
  1. Tick-tock on the clock
    Always ask your prospects when the exact date and time is that they need the solution to take effect - or at least, enacted. This will help you determine when you should start generating and scrapping ideas, and when to initiate plans according to the agreed process period.
  1. Establish, not diminish
    Do not hesitate to propose a competitive price range to your prospect compared to what they already are subscribed to with their existing solutions provider if you are confident that your services can deliver a higher success rate. Find out if the amount that they are paying already covers an entire project plan from top to bottom including but not limited to tools, resources, and other expenses in between such as the salary of their workforce. With this, not only are you maximising your potential to generate higher revenue, but you can also base your package inclusions on their current standing with the other provider.
  1. Bail before you fail
    Have you ever been on a long, fatigue-inducing trip wherein you later realised the destination was not even worth the troubles you've been through at all? And the worst part, such a situation has already been anticipated even right before turning in your key to start the engine. This sometimes is the reality when dealing with prospects. If you are confident that a project has too many possible troubles along the way, it is best to move on to the next one than to risk it.
  1. Being the worm on the hook
    Don't be surprised if you are invited to present your services by a prospect to their committee even when they are already in contract with another solutions provider similar to you. This is a common tactic among companies to place price pressure on the existing provider. It's best to evaluate their words and actions towards you to know if they are really interested in partnering with you or simply using you as a scarecrow.
  1. Spice it up!
    Adding in minor details or adjusting the agreement every now and then according to your prospect's needs throughout the sales process may just help you devise the perfect solution that is fully practical and beneficial to you and your client.

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