How to qualify your sales leads

When marketing or selling products you must do you best to save time and maximize your return on investment. It sounds easy but in reality this process is extremely hard. To successfully qualify your prospects you have to understand their needs. Understanding your prospects needs come with many stages of development. Practicing and implementing these stages will help your company increase the ROI and save capital resources for higher potential prospects.

Finding a need: Finding your prospects need is never easy. In all reality 90% of sales people or companies lose their sale because they just didn’t truly understand the needs of their prospects. If I need apple and you’re selling me an orange we have a problem. This example is really good because the initial need I had was simply for fruit.

Listening: Listen to your customers. I’m really bad for this. I make sales calls to prospects and sometimes find myself rambling. This isn’t good and for many reasons. You an literally close the deal using the wrong words and potentially scare away your prospects. This means the more you listen and less you talk the better your chances are of determining your prospects needs and closing a sales.

Uncovering internal issues: Alright this part will be achieved by the above suggestions. Unlike listening you must do some talking here, specifically related to probing questions. (see below) These are a form of open ended questions that will reveal the true needs or issues of your prospects. Questions must be open ended and try to focus around your products. Remember we are trying to quality our sales lead so we don’t waste our time and most importantly their time.

Pricing: Can your prospect afford your product? Yes it’s great, yes it’s competitive or even advanced for the industry but does your prospect have the capital or budget needed to afford your products or service. Pricing is make or brake in today’s economy so make sure you pre quality your prospect by researching what their annual sales are or at least some GP information.

Qualify your sales prospect: At this point you should have enough information regarding your prospect and to start qualifying them as lead. Just because someone has a need doesn’t mean your product or service is the right solution for them. Compile a list of features advantages and benefits your products has and start comparing them to see if in fact you can fulfill the need of the prospect.

Probing Questions (Open Ended): Let’s assume I’m selling software solutions. These are a few of the open ended questions I would ask.

  • If you could improve the way you’re doing business today what are some of the steps you would take?
  • What are the most important and missing elements in your products today?
  • What do you like the most about the way your competitors are doing business?
  • Where are the places within your business you think productivity could be improved?

Depending on what products or service your selling your questions will change. See the idea here is to ask questions they will encourage a response from your prospect. With out any talking you will never know what that specific prospects is looking for.

Do you have any more suggestion for qualifying your sales leads?

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