determine this factor. Some method of sorting prospects must be em- ployed when the number is too high for contacts to be made in a reason- able period of time. 2. The Money to Purchase: Is


there money available in the pros- pect’s budget? All too often this matter is not discussed until the sales presentation stage. Whenever possible, you should try to discover financial information. Often sales- people do not think of credit until they attempt to close the sale. Then the credit check kills it. 3. The Authority to Buy: Does


your prospect have the authority to buy? The prospects who have the au- thority to buy may be either hidden or inaccessible. This is the number one problem in prospecting medium-sized and large firms. To discover who can actually sign the order may be very time-consuming. You can develop your own strate- gies for identifying those with the power to buy. For example, you can paint a picture that puts those block- ing access to the buyer – the recep- tionist or lower-level executives – in the position of losers. Suggest that,


if the person with authority to buy were to find out you had been denied access, they would be in trouble because the firm would have lost a significant benefit. You can also consider these other factors when qualifying prospects. Consider the level of service demand- ed by the prospect. Some prospects ask for special services far in excess of what their purchases justify. Keep a close watch on the sales figures. Some clients are barely profitable or even loss producers. You may choose to concentrate only on prospects with high-volume potential. 


‘‘


How much pain have cost us the evils that have never happened.


THOMAS JEFFERSON


VIDEO: HOLLYWOOD SECRETS TO PERSUASIVE PRESENTATIONS


Seven Tips for Qualifying Prospects WILLIAM F. KENDY


Your goal in professional selling is straightforward: Determine the customer’s needs, offer solutions, and successfully conclude the transaction as soon as pos- sible. This necessitates qualifying prospects. Here are seven reasons it is essential to qualify your prospects. 1. Qualifying determines wants, needs, and desires. It is a process of discovery. Once you discover there is a distinct need that can be fulfilled by your product or service, take steps toward committing time and energy.


2. Qualifying provides you with the prospect’s finan- cial status. If you find there is a need, your next priority is to determine whether the prospect has adequate funds available to fill it.


3. Qualifying provides you with the prospect’s finan- cial parameters. To develop an appropriate solu-


tion to a problem, you need to have an idea of the prospect’s budget. If you present a $1,000 solution to a $10,000 need, you’ll only frustrate the prospect and lose the sale.


4. Qualifying determines all parties involved in the decision. There’s nothing more frustrating than knocking somebody’s socks off with a dynamic presentation only to find out the sale is contingent on someone else.


5. Qualifying determines the time frame. It’s essen- tial you know when the prospect is willing to take advantage of your offer – whether it’s today, next week, next month, or next year.


6. Qualifying reveals the competition. Knowing the competition helps you further plan your approach.


7. Qualifying helps eliminate objections before they appear. If you question skillfully and listen attentive- ly, prospective purchasers will tell you everything you need to know to help them with their buying decisions.


SELLING POWER SEPTEMBER/OCTOBER 2022 | 7 © 2022 SELLING POWER. CALL 1-800-752-7355 FOR REPRINT PERMISSION.


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29