Tuesday 25 December 2007

Opportunity identification and the qualification process

Based on the many sales training and coaching I have done over the past 7 years and observing, listening to, receiving, and placing thousands of sales calls and meetings, I’ve put together my list of the Top 10 Errors Made by Sales people when doing prospecting. Before I will post these in the Prospecting forum, I would like to share the one thing I believe we all should do better - the opportunity identification - qualification process!

 

Why? I believe that sales has changed and that some of the realities today are:

 

• You have less time to get your prospects’ attention

• More and more salespeople are vying for the same prospects’ and customers’ business

• Prospects’ attention spans are shorter

• You are facing more barriers that stand between you and your prospects

• You need to differentiate yourself from everyone else who sells the same product or service you sell

• Your (or your companies) margin for error is getting smaller and smaller virtually every single day

• You must be willing to change, to grow, and to study your craft now more than ever before

 

That is why the qualification process is so important, for that process is intended to determine which customers really is a opportunity and thereby is most likely to purchase the product or service. For there is nothing worse than spending a lot time with a customer that can or will not buy from you (we all do this). Let’s look at it from the buyer’s perspective. If the buyer perceives the problem as small and the cost as high, you won’t make the sale. But when the buyer sees the problem as being bigger than the cost of solving it, the person is likely to buy. It sounds very simplistic……and in theory sales is very simplistic, but in practice very very complex. However if the opportunity identification - qualification process, would be done better we would be able to:

• Increase seller productivity by providing understanding of how to select or deselect an opportunity.

• Identify possible competitive advantage you might have

• Identify possible buying criteria

• Identify the possible future revenue or strategic value

 

I look forward to read the discussions and hear your approaches about opportunity identification and the qualification process.

 

 

Regards - Mark von Rosing