Emerging salespeople typically believe that all business is good business, and to an extent, this is true. If you are trying to make a name for yourself, and are being put under pressure by your sales manager to get “runs on the board” while trying to earn the respect of the more experienced and successful members of the team, it is difficult to walk away from any opportunity if you believe you have the remotest chance of winning it.
However, it is essential to fully understand both the value and importance of rigorous objective qualification, not just at the front end, but right through the sales cycle. Qualification is a process, not a single event. Salespeople should be fully skilled in asking a small number of basic questions regarding issues such as precise requirements, time scales, budget and competition before they reveal their price and delivery.
External salespeople have the opportunity to meet with prospective customers, and it is far easier to extract information face to face than it is via the telephone. Still, it is vital that some initial answers are elicited prior to the first exploratory meeting to ensure the meeting will be worthwhile to both parties. With sales costs spiraling upwards and sales time becoming limited, considerable prudence is required on the part of the salesperson.
During the first meeting, a considerable amount of detail can, and should, be uncovered. For example, background and history of the company, the key individuals, the composition of the DMU (Decision Making Unit) if there is one, time scales, budget, competition, current suppliers and buying criteria can be discussed. Only through rigorous questioning will the salesperson be able to answer the following questions when they get back to the office: Is there a requirement/need that my company can satisfy? Is it winnable? Do I want it?
After proper objective analysis, the very best sales professionals will not pursue the opportunity if the answer to any of the questions is “No.” They will rather invest their precious selling time seeking out and closing opportunities that will provide a profitable return on their investment of time.
At the very highest selling levels (i.e., strategic “big-ticket” selling and marketing), clearly the sales cycle is much more protracted and complex, and typically moves through these four stages:
1. Provide rigorous opportunity assessment.
2. Develop a strategy.
3. Present the solution and re-assess the opportunity.
4. Gain formal commitment, sign the order and develop.
Qualification is a core competency that every professional salesperson should take on board as quickly as possible. Working under the maxim: “All business is good business,” is unrealistic and erroneous. It takes just as long to work an unprofitable opportunity through the pipeline only to lose it at the death, as it does a profitable one—the ability to determine which is which, can have a huge impact on your ultimate success in a front-line sales role.
By Jonathan Farrington
Jonathan Farrington is the CEO of Top Sales Associates and chairman of The Sales Corporation, www.thesalescorporation.com, based in London and Paris. Jonathan’s personal site, The JF Consultancy, www.jonathanfarrington.com, offers a superb range of unique and innovative sales solutions. You can also catch his daily blog at The JF Blogit, www.thejfblogit.co.uk. Copyright © Jonathan Farrington. All rights reserved.