jerrydwilson.com

Qualifying your prospects is a step that all too many salespeople forget to do.  Too often a salesperson will get deep into the sales process, sometimes as deep as the close of the sale and find out that they have been dealing with someone who is not qualified.  Every step taken to that point quickly becomes a huge waste of time.  In many cases almost every step will have to be retaken in order to have any hopes of completing the sale.

3 Requirements of a Qualified Customer

Are they able to make the decision?

If not, politely find a way to get them and the decision maker involved.

Do not be insulting or you may never reach the real decision maker.  There generally is nothing wrong with asking the question, "Are you the only decision maker or is there someone else we should get involved?".  This approach let's the person know that they can stay involved but it also brings into play anyone else that needs to be in the sales process.

Do they have a need for your product?

We are a full-featured hospitality touch screen product.  If the person is looking for a retail product for their liquor store we may not be a good fit.  If the person is looking for a small cash register for their hot dog stand we may not be a good fit.  If the person just bought a new system why are they looking for a new one?  I am using some drastic examples to make my point but you really need to know your customer's needs before you get too far into the sales process.

You must find out their needs with a survey of their business.  Take the time to get to know their operation, their weaknesses and the strengths of their existing system.  Use the survey to determine:

1. Does their vertical fit our product feature set?
2. Do we solve the problems they are experiencing?
3. Do we match the strengths of their existing system?
4. Do they have a need for our system?

If not, do yourself and them a favor and gracefully bow out of the sale.  Use this opportunity to buy future consideration from someone you know that might could help them out.  Give the lead to another vendor and move on to someone who IS qualified.

Do they have the ability to pay?

What good is it to go through the entire sales process only to find out that they couldn't pay for the system anyway?  This one gets salespeople every day.  Too many salespeople are scared of the money.  They are scared of the price.  They are scared of the close.  They are scared of the lease payments.  Their fear translates into lost sales and wasted time.

Our solutions are not the low-priced leader in our industry.  We sell a full-featured solution that is a value proposition when presented correctly.  Don't run from this.  Use it to your advantage...because it is.

For an existing restaurant you might say, "Mr. Customer, many of our customers find that leasing is an excellent option for equipment purchases.  Would you like to get pre-approved for a lease?".  This gets leasing out up front and lets you know early on if this customer is leasable or would entertain monthly payments.

a new restaurant you could say, "Mr. Customer, if you decide that you would like us to be your computer and point of sale partner will you need any special paperwork from us for your equipment financing?"  This puts the focus on their bank or financial backer and away from you doing the financing.

Qualification is Critical to Sales Success

You will never successfully close a sale unless your prospect meets ALL 3 of these qualifications.  All 3 must be met.  The absence of any 1 of the 3 will always result in a lost sale and a complete waste of time.

The person you deal with must be able to make the decision.

The person must have a need for your product and your product must solve that need.

The person must have the ability to pay for the product.

Keep your focus on qualified prospects and your closing percentage will jump upwards in a hurry.  Don't waste time on unqualified prospects.  Leave them for your competition.