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Sell More by Screening the Good Prospects from Bad

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Time is one of your most valuable resources. Protecting it by minimizing time spent with prospects that have a low chance of purchasing will have a direct impact on your sales results..

Join us on our next webinar “Sell More by Effectively Screening Good Prospects from Bad” where we will show you a systematic process that you can incorporate into your sales process that will make it crystal clear which prospects you should be spending your valuable time with.

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Sell More by Screening the Good Prospects from Bad

  1. 1. Sell More by Screening Good Prospects from Bad Michael Halper Founder and CEO SalesScripter
  2. 2. There is always an opportunity cost.
  3. 3. Decrease time spent with bad prospects + Increase time spent with good prospects =
  4. 4. Why This Can Be Difficult
  5. 5. Why This Can Be Difficult
  6. 6. Why This Can Be Difficult
  7. 7. Why This Can Be Difficult
  8. 8. 2 Missteps We Can Take
  9. 9. 2 Missteps We Can Take
  10. 10. 2 Step Qualifying Process Step 1 – Pre-Qualify •Use at the very beginning of the sales cycle • When cold calling, cold emailing, networking •Goal: Only spend time with prospects that may fit •Ask pre-qualifying questions to determine this •Trying to determine if it makes sense to talk, not to purchase
  11. 11. Early Sales Process Stages Initial Contact (First time to speak) Cold Call Inbound Call Email Event 2 to 5 minutes 80% on prospect 20% on you First Conversation (Appointment/Meeting) Phone Call Face-to-Face Discovery 20 to 30 minutes 50% on prospect 50% on you First Meeting (Presentation) Discovery Presentation Demonstration 1 to 2 hours 20% on prospect 80% on you • Redirect • Goal is to get to the meeting • Try to pre-qualify • Redirect or Overcome • Goal is to get to a presentation • Try to further qualify • Overcome • Goal is to close (Sale or agreement to move forward)
  12. 12. Pre-Qualifying Questions • Soft probing questions that determine if there is a slight potential for fit: – They may need – They may want – They could be able to purchase – Trying to determine if we should keep talking • Examples if we sold cars – What year is your vehicle? – How happy are you with your current car? – How do you feel about the fuel economy of your car? – How do you feel about the reliability of your car? – How often do you usually purchase a new car?
  13. 13. Objections • Objections do not mean that they do not fit – I am not interested. – We don’t need that. – We can’t change anything. • Use the pre-qualifying questions to determine if they do not fit, not the objections • Respond to their objections by asking your pre-qualifying questions
  14. 14. 2 Step Qualifying Process Step 2 – Hard Qualify •Use in early discussions with a prospect • First appointment, meeting, conversation •Goal: to determine if the deal is real •Ask hard qualifying questions to determine this •Trying to determine if how much time to invest in the prospect
  15. 15. Early Sales Process Stages Initial Contact (First time to speak) Cold Call Inbound Call Email Event 2 to 5 minutes 80% on prospect 20% on you First Conversation (Appointment/Meeting) Phone Call Face-to-Face Discovery 20 to 30 minutes 50% on prospect 50% on you First Meeting (Presentation) Discovery Presentation Demonstration 1 to 2 hours 20% on prospect 80% on you • Redirect • Goal is to get to the meeting • Try to pre-qualify • Redirect or Overcome • Goal is to get to a presentation • Try to further qualify • Overcome • Goal is to close (Sale or agreement to move forward)
  16. 16. Qualified Prospect vs. Unqualified Prospect Qualified Prospect Need to Purchase Authority to Purchase Ability to Purchase Intent to Purchase Unqualified Prospect No Need to Purchase No Authority to Purchase No Ability to Purchase No Intent to Purchase Needs to be medium to strong in all Can have any of the following
  17. 17. Unqualified Prospects Types No Need to Purchase •Authority to purchase – Contact is key decision maker •Ability to purchase – Budget approved and allocated •Intent to purchase – Genuine interest •Need to purchase – Current system/process working great
  18. 18. Unqualified Prospects Types No Authority to Purchase •Need to purchase – Pain, manual processes, outdated systems •Ability to purchase – Budget approved and allocated •Intent to purchase – Genuine interest •Authority to purchase – Contact is low in the organization
  19. 19. Unqualified Prospects Types No Ability to Purchase •Need to purchase – Pain, manual processes, outdated systems •Intent to purchase – Genuine interest •Authority to purchase – Contact is key decision maker •Ability to purchase – Business has no funding available for a purchase – Business just purchased something – Business locked into a long-term agreement
  20. 20. Unqualified Prospects Types No Intent to Purchase •Need to purchase – Pain, manual processes, outdated systems •Authority to purchase – Contact is key decision maker •Ability to purchase – Budget approved and allocated •Intent to purchase – Not seriously shopping – Favorable toward other vendors
  21. 21. Qualifying Focus on four key areas 1.Need to Purchase– how bad does the prospect need to make the purchase 2.Ability to Purchase – how accessible is the money 1.Authority to Purchase – how much purchasing power does the prospect have 2.Intent to Purchase– how serious is the prospect
  22. 22. Qualifying Need to Purchase •Goal: – To identify whether the prospect truly needs what you are selling or if it is more of a want •Example Questions: – What happens if you do not do anything and do not make a purchase or make any changes? – What improvements will you see if move forward with this purchase? – Is there at date when this purchase needs to be made? – What happens if the purchase is not made by that date? – What is the time frame that the project needs to work along? •Assessing the prospect: – Strong: Noticeable negative impact if there is no purchase – Strong: Prospect needs to purchase something by a certain date – Medium: Noticeable positive impact with purchase – Weak: Can keep doing OK without a purchase
  23. 23. Qualifying Authority to Purchase •Goal: – To identify how much purchasing power the prospect has •Example Questions: – What is the decision making process? – What parties will be involved in making the decision? – What functional areas (departments) will be impacted by the purchase? – Who is the ultimate decision maker? – Who is the person that will need to sign the agreement/contract? •Assessing the prospect: – Strong: The prospect is the only person needed to approve the purchase – Medium: Prospect makes the decision but has to get approval – Weak: Prospect does not make final decision
  24. 24. Qualifying Ability to Purchase •Goal: – To identify whether the prospect is able to make the purchase from a budget/money standpoint •Example Questions: – Is there a budget approved for this project? – What is the budget range that the project needs to fit in? – Have the funds been allocated to this purchase? – What budget (department) will this purchase be made under? – Are there other purchases that this funding may end up being used for? – How does the project fit with other initiatives from a priority standpoint? •Assessing the prospect: – Strong: Funds are available, approved, and allocated – Medium: Funds are available but will need to be approved – Weak: Funds are not available
  25. 25. Qualifying Intent to Purchase •Goal: – To identify how much genuine intent to purchase that the prospect has •Example Questions: – Why did you take time out of your schedule to meet with us? Why did you contact us? – What other options are you considering? – How far along are you with talking with them? – How do you feel about their solution? – What do you like about their solution? – What do you not like about their solution? – How does their solution compare with what we have to offer? – Is there a reason why you would choose us? – If you had to make a decision today, which way would you lean? •Assessing the prospect: – Strong: The prospect is serious about making a purchase – Strong: The prospect is only talking with you – Medium: The prospect is talking to other vendors but is favorable to your company – Weak: The prospect sees all of the options as equal or leaning toward other options – Weak: The prospect does not have definitive plans to purchase anything
  26. 26. If You Want More Help Group Sales Coaching •Meet as a group every week for 1 hour •Group size around 7 •Topics: phone prospecting, lead generation, objections, gatekeepers, messaging, closing, etc. •Cost: $100 per month ($20 to $25 per session) •Contact us if interested – info@salesscripter.com
  27. 27. If You Want More Help • https://www.youtube.com/user/LaunchPadSol • Or search Sales Scripter • Over 130 videos • Sales Prospecting 101 Training Program • Webinars • Sales Tips • SalesScripter demo videos • Subscribe Go to Our YouTube Channel
  28. 28. If You Want More Help • Five ebooks – Found at https://salesscripter.com/ebooks/ – Do’s and Don’ts of Cold Calling – How to Get around Cold Call Objections – How to Build a Value Proposition that Generates Leads – How to Build Sales Campaigns that Sell – How to Build Email Drip Campaigns that Convert Sales • The Cold Calling Equation – PROBLEM SOLVED – Found at http://www.amazon.com/The-Cold-Calling-Equation-Problem/dp/1468173545 Check Out Our Books
  29. 29. If You Want More Help • Week 1 – Understanding the Ideal Sales Process – How to Make Cold Calls – Appointment Setting Tactics – Voicemail Messaging Methodology • Week 2 – Sales Messaging Workshop – How to Get Prospect’s on the Phone – How to Get Around Objections – How to Incorporate Buyer Personas into Your Selling – Overview of a 2-Step Qualifying Process New Hire Onboarding Training Program / Sales Prospecting 101 • Week 3 – How to Build Your Value Proposition – How to Focus on Prospect Pain – How to Get Around Gatekeepers – How to Perform the Perfect Takeaway • Week 4 – How to Build Rapport, Interest, and Credibility – How to Improve Mental Strength When Selling – How to Be a Better Closer * Available through e-learning videos, live virtual, or live in-person * Can be tailored to your business
  30. 30. If You Want More Help • Build your scripts and campaigns – Call scripts – Email templates – Voicemail Scripts – Objection responses – Key Questions – And more • $49 per month / $29 per month with annual subscription – 30 Day Money Back Guarantee Sign up for SalesScripter
  31. 31. If You Want More Help • Sales Coaching • Sales Consulting – Script development – Strategy development – Sales process development • Sales Training – Custom sales training programs – Content aligned with your information in SalesScripter – Delivered virtually or in-person Contact us for Coaching, Consulting, or Training
  32. 32. What is SalesScripter? Cold Calling Objections Gatekeepers Sales Messaging Voicemail Qualifying Closing Sales Process Rapport Building Interest Cold Emailing Setting Appointments Building Credibility Call Cadence • Provides complete clarity for what a salesperson should do and say • Very practical and easy to understand / implement / adopt • Consultative selling approach • Many tactics are counterintuitive One Half - Sales Methodology
  33. 33. What is SalesScripter? Cold Calling Scripts Objection Responses Key Questions Marketing Tools Voicemail Scripts Meeting Scripts Cold Email Templates • Software platform that provides all the tools needed to execute the methodology • Campaign-based (buyer persona) structure • Makes it extremely easy to implement and reinforce the methodology One Half – Prospecting Platform Software Application
  34. 34. Complete Sales Training Solution Cold Calling Objections Gatekeepers Sales Messaging Voicemail Qualifying Closing Sales Process Rapport Building Interest Cold Emailing Setting Appointments Building Credibility Call Cadence Methodology Salesperson Manager Cold Calling Scripts Objection Responses Key Questions Marketing Tools Voicemail Scripts Meeting Scripts Cold Email Templates Software PlatformResources and Services Books Training Videos One-on-One Coaching Sales Consulting Live Training Completely Aligned
  35. 35. SalesScripter What do you sell? ___________ How does it help? ___________ What problems do you fix? ___________ What questions should you ask? ___________
  36. 36. SalesScripter
  37. 37. SalesScripter
  38. 38. Questions? Michael Halper Founder and CEO SalesScripter mhalper@salesscripter.com www.salesscripter.com

Editor's Notes

  • Qualifying at its most basic level is assessing the prospect in two areas. First, to qualify a prospect begins with determining how well they fit with what you have to offer. This fit refers to how well they match up from a need standpoint or if they can even use what you provide.
    Qualifying does not stop there as we also need to determine how likely they are to actually make the purchase. They could be a perfect fit, but that does not mean that they are well positioned to do anything.
    We will teach you exactly how to measure prospects in these two areas, but basically we want to figure out how strong or weak the prospect is in these two areas and the act of trying to figure that out is essentially qualifying.
    Qualifying can be performed in two ways. Most of your qualifying will be performed by asking good questions while talking to prospects. Although, you can also perform some qualifying by doing some research online. This training focuses on how to qualify when interacting with prospects.
  • Pre-qualifying focuses on two key areas. The current state on the prospect’s side in the area that your products or services impact. Basically, this could involve some of the processes they are using, current systems or tools, maybe some details around people or employees, current vendors they are using, and could possibly include any details around contracts or agreements that are in place.
    Once you gather some details around what the current state looks like, you will want to try to find out the level of satisfaction and how things are going. Are things great, good, just OK, or could be better? If things are great or good, it might not make sense to talk as the prospect might not have any open needs and might have a low probability to do anything.
    Or you might uncover that things are just OK or could be better, which will indicate that it does make sense to keep talking. The important thing here is that is that you are asking questions that do a good job of uncovering pain so that you don’t get prospects that just say things are great when they really aren’t.
    When you are able to get a quick picture of the current state and level of satisfaction, you should have a good idea if it makes sense for you to spend your valuable time talking more or meeting with the prospect.
  • The very first thing that we want to do when soft qualifying is learn more about the prospect’s current state in the areas where our products or services impact. You will want to try to figure out what the systems the prospect is currently using, what are their current processes, do they have any contracts in place with their current vendors, and are their and employee or organizational details that are relevant? You are basically trying to determine if the prospect has needs that you can help with or if they are a No Need prospect.
    The questions that you ask here will all be fairly dependent on your particular product, but they will basically probe for what is going on and being used. Some examples are:
    What are you currently using to manage your inventory?
    When did you all implement that system?
    Are you locked into a contract with your current provider?
    The way to assess the information you get back is if the prospect is not doing anything or using anything, they are very qualified in this area
    If the prospect is in a contract but it is expiring soon, they may be a medium level of qualified
    If they recently bought something or are locked into a long-term agreement, they prospect is less qualified
  • Once you identify what the prospect is doing, you will want to try to identify what the level of satisfaction and how things are going. Hearing the current systems, vendors, and processes may give us an assumption as to how things are going. But we want to gather the prospect’s opinion and feeling. We basically want to identify if things are great, good, OK or could be better. The answers here will help us to determine if the prospect has needs that we can help with or if the prospect is a No Need prospect.
    Again, the questions here will vary depending on your situation but they can typically start out asking the prospect how they feel about the current systems, processes, vendors, etc.
    For example
    How do you feel about the level of service from your current provider?
    How do you feel about your ability to manage inventory levels with your current system?
    Is there any functionality that you need that is not provided by your current system?
    The way to assess information collected is that if things could be better, the prospect is very qualified in this area
    If things are OK, they may be a medium level of qualified
    And if things are good or great, they are less qualified and may begin to be viewed as a No Need Prospect.
  • Once you identify what the prospect is doing, you will want to try to identify what the level of satisfaction and how things are going. Hearing the current systems, vendors, and processes may give us an assumption as to how things are going. But we want to gather the prospect’s opinion and feeling. We basically want to identify if things are great, good, OK or could be better. The answers here will help us to determine if the prospect has needs that we can help with or if the prospect is a No Need prospect.
    Again, the questions here will vary depending on your situation but they can typically start out asking the prospect how they feel about the current systems, processes, vendors, etc.
    For example
    How do you feel about the level of service from your current provider?
    How do you feel about your ability to manage inventory levels with your current system?
    Is there any functionality that you need that is not provided by your current system?
    The way to assess information collected is that if things could be better, the prospect is very qualified in this area
    If things are OK, they may be a medium level of qualified
    And if things are good or great, they are less qualified and may begin to be viewed as a No Need Prospect.
  • There are four characteristics of a qualified prospect.
    Does the prospect have a true need to purchase what you sell? You may have a prospect that is very interested and excited about what you have to offer, but do they need what you have or do they want what you have? The more they need what you have, the more qualified the prospect.
    Does the prospect have the authority to make the purchase from a decision making power stand point? If we are a car sales person and taking someone on a test drive, but it is the spouse that is at home that would make the approval of the car purchase, we are not spending time with a qualified prospect.
    Does the prospect have the ability to make the purchase from a funding or money standpoint? If the prospect loves what you have but does not have any money to spend, the prospect is not completely qualified.
    Does the prospect have real genuine interest purchasing from you? Just because a prospect is talking with you does not mean that there is serious interest on their side.
    The prospect really needs medium to strong levels in all of these areas to be truly qualified. A prospect only needs to be weak in one area for their to be a concern and we will look at four different types of prospects that are good in only three of the four key areas as we look at four types of unqualified prospects.
  • One thing that can help you to improve your ability to qualify prospects is to know what questionable or “not so great” prospects look like. To help you to know what those look like, we will look at four types of unqualified suspects.
    The first that we will break down is the No Need to Purchase Prospect. This prospect has the authority to purchase as they are the key decision maker. They have the ability to purchase by having budget and funding available and approved. They have pure genuine interest in what you have to offer.
    But the weakness with this prospect comes in the area of having a true need to purchase. They really do not have a need because their current system or process is working really well or there is not any real pain.
    If there is not a real need, it may be tough to get a meeting or get discussions going. But the real problem with this type of unqualified prospect comes in when you are able to get discussions going and generate interest. This could lead to meetings, demonstrations, and proposals which means valuable time spent by you. And even though the prospect has genuine interest, the deal may stall out at the end of the sales cycle when it is time to pull the trigger due to the lack of a true need that is needed to justify the financial investment.
  • The next unqualified prospect type is a No Authority to Purchase Prospect. This prospect has the need to purchase as they currently have pain from manual processes and outdated systems. They have the ability to purchase by having budget and funding available and approved. And they have pure genuine interest in what you have to offer.
    But the concern with this prospect is that they do not have the authority to make the purchase. An example of this could be talking with a department manager at a company. The manager may have a decent amount of power and be a people manager. But when it comes to approving purchases and spending money, that may have to go to the director, VP, or maybe C-level.
    If you have been having great meetings and found pain and built interest, but the person that has the power to say yes has not been involved and maybe does not even know about the current discussions, you may have a lot of trouble when you try to close the deal as the decision maker may not be completely on board or in agreement with what has been discussed.
    Finding yourself in a situation where you are talking to a No Authority Prospect is not a horrible scenario as it can lead to good things. You just need to be able to identify that they do not have all of the needed power and that they are more of a coach than decision maker and you need to be focused on getting the appropriate people involved in the discussions in order for the lead to be qualified.
  • The next unqualified prospect type is the No Ability to Purchase Prospect. This prospect is good in all areas, they have needs, have genuine interest, you are talking to the right person in the organization, but they are not in a position to be able to make the purchase.
    This could occur for a couple of reasons. The most obvious reason is that there is no money, funding, or budget available. But another reason that they might not be able to purchase is if they just purchased something in the area where you product fits. In that case, they may actually have money to spend, but in no way could justify turning around and making a purchase again in that one area. Or a scenario similar to that is if they are locked into a contract for a period of time and unable to do anything regardless of money or interest.
    This is a pretty good thing to identify when assessing a prospect. It is not horrible to continue discussions and to invest time if they do not have available funding as in some situations that can change down the road and you could be positioning yourself for a deal later on. But knowing this will allow you to prioritize the prospect in you pipeline and prevent you from investing too much time.
    For the prospects that just purchased something or are locked into a long-term agreement, you probably would not want to invest any time but you could make an note to re-engage down the road.
  • The next unqualified prospect type is the No Interest to Purchase Prospect. You may think this prospect is obvious to identify and won’t be that much of a problem. But the key word with this prospect is genuine interest.
    There are two types of No Interest prospects that can go undetected. The first is that some prospects may seem interested but they are not really serious about doing anything. An everyday example of this would be someone who is not looking to buy a car but goes and tests drives a car on a Saturday afternoon. If the sales person does not ask the right questions, she may assume that the prospect is interested in doing a deal when that is not the case and the level of genuine interest in purchasing is low.
    This happens in the business world where prospect’s without genuine interest in purchasing have sales people provide presentations, demonstrations, and proposals.
    Another case where this could occur is where a prospect does have genuine interest in purchasing, just not with you. They have already been talking to another vendor for a long time and contacting you at the last hour just to get another price to make sure they are getting a good deal and that they have done some vendor comparisons.
    In both of these cases, if these no interest prospects go undetected, the sales person stands to waste valuable time on a prospect that has very low probability of purchasing anything.
  • Once you have soft qualified and have identified that the prospect is enough of a fit to spend time continuing to talk or schedule a meeting, you can then begin to hard qualify.
    This is where you want to really dig deep to validate that there is a need to purchase, an ability to purchase, an authority to purchase, and an interest to purchase.
  • The soft qualifying will skim the surface in terms of identifying the prospect’s needs. No we want to dig deeper to identify is the prospect’s need a true need or is it more of a want again to try to identify if the prospect is a No Need prospect.
    Some questions that you can ask here are:
    What happens if you do not do anything and do not make a purchase or make any changes?
    What improvements will you see if move forward with this purchase?
    Is there at date when this purchase needs to be made?
    What happens if the purchase is not made by that date?
    What is the time frame that the project needs to work along?
    The way to assess the information collected is, if there is a noticeable negative impact if there is no purchase, the prospect is very qualified in this area
    If there is a noticeable positive impact with the purchase, the prospect is a medium level of qualified
    If the prospect can really keep doing things Ok without purchasing anything, they are less qualified and may be a No Need Prospect
  • You will want to identify if the prospect that you are talking to has the ability to purchase from a budget, money, or funding standpoint when hard qualifying to make sure the are not a No Ability to Purchase Prospect
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