Qualifying customers is arguably one of the most important parts of the selling process, as spending time pursuing those who can’t afford or simply don't have a need for your product is time wasted.
Key qualification questions include:
• Will your business make a difference to the client
• Does the client need/want your product or service
• Can the client afford / is willing to pay for your product or service.
• Is it the right point in the buying cycle
The key to effectively qualifying prospects as discussed during the second sales workshop is to really listen to prospects and ask plenty of open questions such as, who, what, where, why, how.
Further reading since the workshops had identified that good qualification questions fall into three main categories: Money, Method and Motivation.
http://www.allbusiness.com/sales/selling-techniques/373097-1.html
Applying the theory covered in this workshop gave the following qualification questions for my business:
Money:
• How much of your budget it assigned to tackling obesity, and specifically for preventative medicine products such as these?
• What is the source of your funding and when is it renewed?
• How much do you normally pay for VTA products?
Method:
• What criteria does this product need to meet to be approved
• What steps do I need to make to convince you to purchase – product pictures or full personal demonstration?
• If you were to purchase, when would you need delivery?
Motivation:
• Why do you need this type of product? (core business function i.e. schools with specific healthy eating targets)
• What happens if you don’t get this product?
Features VS Benefits
Every product or service available offers the purchasers features and benefits. Demonstrating these to prospects can be an excellent method of generating credibility, sales, and a gaining competitive advantage.
The two can however often be confused. For an explanation of the difference please see the example of an electric toothbrush below:
During the workshop, Steve explained that by putting yourself in the shoes of your clients and understanding their needs you are able to recognise the features and benefits that will be of interest to them.
The features and benefits of the VTAs I am looking to distribute are;
Objection Handling
A major problem encountered by sales people are objections like;
“I don't want or need your product”
“I can't afford it”
“I already have one”
“We have a Preferred Supplier List (PSL)”
Being able to overcome these types of objections will massively increase the chances of making a sale, although to do this effectively your response must be instant, convincing, and confident. It was therefore highly recommended by Steve that we prepare for objections before making sales calls. The result of which are:
I have found since the workshop that keeping an accurate list of objections given during live calls is an excellent way of being prepared for any objection posed.
Closing Sales
For many sales appointments signing the order can be a formality. Likewise, at the end of an appointment a salesperson may realise that this prospect is never going to agree to a deal.
There are however times when a prospect is still unsure, and can be swayed into the decision the seller is looking for, this process is known as closing.
For many salespeople this can be the most difficult part of the process even though it is simply down to asking the question; Can I have the business?
Asking this will give either a yes or no answer, if no then it’s time to go back to the objection handling process discussed earlier, and if yes then fantastic, a sale has been made!
During the second sales workshop Steve described the closing process as:
- Ask a question
- Overcome any objections and push them aside
- Repeat asking for the business
As my company is currently at a pre-trading stage I have been unable to put this theory into practice although I fully appreciate that closing sales is more a question of effective objection handling which can be practised in advance.
Recommended links:
• Objection handling – www.changingminds.org
• Objection handling script - http://www.avnmembers.co.uk/knowledgebase/Business/pdf/priceobjections.pdf
• Closing sales – www.entrepreneur.com and www.allbusiness.com and www.24techniquesforclosingthesale.com
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