In the world of sales, one crucial step often determines success or failure> What is that step? Qualifying your buyer.
Why waste time pitching a deal or talking about your offer if you aren’t even speaking to the right prospect? If you’re talking to the wrong person, you’ll never meet their needs or solve their problems. Having the best offer will never get you the sale if they don’t need your product or service.
Qualifying the buyer is key.
To save you time and potential heartache, here are some tips to help you get more sales for your survey business:
Ask the right questions.
“Those who ask questions control the conversation.” This rule is applicable to any conversation — especially within the sales process. You have to make sure you are asking the right questions so you can get the answers that will qualify your buyer and place them in the right bucket.
What are some of those questions? They’re questions like these:
- What problem are you looking to solve?
- What is your budget?
- Are you the decision maker?
- What would buying this piece of equipment mean for your business?
These questions will all lead you to the BANT framework, a sales qualification method that relies on four key factors: Budget, Authority, Need, and Timeframe. Using this framework upfront will prevent you from wasting time on the wrong prospects.
What are the BANT criteria?
- Budget: Assess whether the prospect has the financial resources to make a purchase. Identifying their budget constraints early in the process prevents you from wasting time on leads that can’t afford what you’re offering.
- Authority: Identify the decision-makers within the prospect’s organization. Dealing directly with those who have the authority to make purchasing decisions streamlines the sales process, minimising delays.
- Need: Clearly understand the prospect’s pain points and challenges. Tailor your pitch to address their specific needs, demonstrating that you heard their problem, and also how your product or service provides a solution that will make their life easier. This will be helpful through objection handling with the client.
- Timing: Evaluate the prospect’s timeline for making a decision. Knowing when they plan to implement a solution allows you to align your sales strategy with their schedule, avoiding unnecessary delays.
Caring = sales.
Remember that people care most about themselves. Yes, that sounds a bit coarse, but trust me — asking the right questions and making sure you are actively listening to your prospect will show them that you care. Successful sales rely heavily on building rapport with your potential clients and this will result in trust. People are more likely to make a big purchase or agree to ongoing services from someone that they trust.
Qualifying your prospects is not just a box to tick in the sales process; it’s the key to creating a successful and efficient strategy. By investing time in understanding the BANT criteria, actively listening to your prospects and building trust, you can significantly improve your chances of converting leads into satisfied customers. The art of sales lies not just in closing deals but in the ability to identify and prioritize the prospects that are the best fit for your offerings.