Ultimate Selling Solutions Blog
28Feb/130

Is my Prospect Qualified? Or just another Suspect?

Welcome to the 21st century, Buyer Advantage, Seller’s Beware!

Think about it, can you afford to invest a lot of time and sales resources only to discover later in the sales process that you’ve been pursuing a suspect? Even worse, discover you’re investing resources in a suspect and not in a qualified prospect since you only had so much time or bandwidth and could not discern which was which!.

I doubt it! Let’s be honest, the pressure on profits and the rising cost of a sales calls dictate otherwise. And the most important action you can take to mitigate these is to maximize your investment of sale resources.

What does a qualified prospect look like?

1st, they have genuine INTEREST!

There is a definite need/requirement for your product or service and you can articulate how it will benefit them, be it reduce cost, increased market share, solve existing problem, vendor replacement, solve a customer problem for them, personal, others?

2nd, they have the MONEY!

Whether it’s self funding or 3rd parties, they have both the ability and more important, the will to invest.

3rd, they will make a buying DECISION!

There is a process in place, with timelines and defined decision makers to make a Yes or No decision.

In Ultimate Selling, we add some additional questions that are very straightforward and easy to ask early in the sales process and they provide additional insight as to what they will or will not do. It sounds something like this:

What is the actual date you require delivery or operation of our product and service?

Trust me, if they can’t articulate firm dates and reasons, it’s your trigger to did deeper into the sales process. Is the problem that you are...?

Not dealing with the decision makers?

Using you for price checking?

Others.....

Ultimate Selling INSIGHT:  If they don’t have firm dates, they never have to make a decision and all too often, they won’t. You know, it’s thee sales opportunities that keep moving out in your sales forecast!

Ultimate Selling INSIGHT:  It may take multiple calls to qualify and that’s OK. But don’t start the formal phase with presentation/proposal, until they are qualified. Educate, build relationships, discover more about them, etc.. And save your compelling sales story until they have a formal process for making a decision.  Go here to review exactly what you should be asking in the discovery process.

If you would like have more in depth knowledge about these critical sales steps, and many others, go to Ultimate Selling Solutions to  purchase a hard copy book or download the  book, Ultimate Selling, The Art and Science of Sales Success.

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6Feb/130

How To Know if Your Winning in 2013: This Month, This Quarter, This Year!

Whats Your Winning Formula? Do you have one? If not, why not? Okay, January is now over- how do you stand?  Did you:

  • Get off to a quick start in 2013?
  • Meet your sales quota/goal
  • Meet your income objectives?  (Earnings, Commissions, Bonuses)
  • Something else?

It’s time to get real and apply the KIS method. “Keep it Simple ” to your formula: It’s just not that complicated!

Ultimate Selling Insight #1:  You must have enough sales opportunities that are making their final buying decision within the specified time, be it your 30, 60 or 90 day sales forecast . YES, SALES FORECAST, not your pipeline!

Ultimate Selling Insight #2: The only security you have as a salesperson is knowing you have enough decisions being made each month to ensure your success. If not, you will know by the first of the month that you will fail at the end of the month.  Therefore you can be proactive NOW to affect the outcomes. Or, leave it to chance or pray for a Blue Bird to fall out of the sky!

WHAT DOES A WINNING FORMULA LOOK LIKE?

Let’s figure the math out together...

  • What is the amount of your average sale? (20 ,000)
  • How many average sales do you need monthly to achieve your quota/goals?                    (5 = 100,000)
  • What is your success rate or closing average? (50%)
  • Number of monthly sales ÷ success rate = (5 ÷.50 = 10)
  • Number of decisions being made this month? (10 = 5 sales)

Apply your numbers and you will know early and often, where you stand

Here’s an example of  %  (Average sale of $20K, monthly quota of $100K)

20% Closing Average requires 25 sales decisions per month
50% Closing Average requires 10 sales decisions per month
100% Closing Average requires 5 sales decisions per month

There you have it, work extra hard and have lots of opportunities or improve your sales skills, work smart and achieve success with  fewer opportunities.

It’s early in the year so get started on becoming an Ultimate Seller 2013!

Need Help? Call me at 800-659-5984

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