22
May

Customers Benefit from a Detailed Qualification Process for a Complex Sale

A customer stands to benefit the most from a qualification process for a complex purchase. This claim makes sense when one considers that the purpose of qualifying a complex purchase is to verify the assumed benefits of moving forward on it and, further, to actually establish the metrics (typically in cost savings) that will result from the purchase in advance of proceeding on it. Therefore, at worst, this process provides the customer with an insurance policy that a considered purchase is justified. At best, it affords the customer an ample opportunity to plan the most profitable approach possible to implementing the contemplated solution, an approach that very often exceeds the customer’s earlier expectations.

Gaining the participation of customers in this analytical process should be a given, correct? In contrast, in our experience it is rarely, if ever, a given. Rather, customers with whom we have interacted through this type of activity are usually engaged at an inopportune time. Generally, the customer is either contacted late in a complex process to purchase a product, or a sales person permits the conversation with the customer to go off track, into a ditch of price quotes, presentations and competitive comparisons with little to no understanding of a customer’s unique environment, needs and intentions. No wonder the return on time invested in these sales campaigns is generally low and unprofitable.

The missing piece, as we see it, is hopping over the first step, which ought to be a successful campaign to gain the agreement of a decision-maker that there is a high probability that one’s product constitutes an attractive opportunity for the business to capture an important sought after value that can be quantified. In order not to hop over this step, a sales team must identify several pieces in the puzzle, including

  1. A prospect with a verified need for the type of solution they offer, and
  2. A key decision-maker within the prospect with the influence to collect any/all of the individuals within the business who will play a role in either purchasing the solution or implementing it

The reality is that the decision-maker identified in step (2), above, will actually provide all of the motivation required to ensure that other contacts will genuinely participate in the qualification process.

Sales teams that try to skip over these steps will, more often than not, come up high and dry, without a sale and lots of wasted time. If you need your organization to move more progressively on sales opportunities we welcome your contact. Please telephone Ira Michael “Mike” Blonder at +1 631-673-2929 to further a discussion. You may also email Mike at imblonder@imbenterprises.com.

© IMB Enterprises, Inc. & Ira Michael Blonder, 2012 All Rights Reserved

21
May

Use the process of qualifying a complex sales prospect to weed out low probability opportunities

We recently had an opportunity to participate in 2 conversations with a contact for a prospect for one of our clients’ products. These conversations were intended to provide us with at least the basis for composing a picture of any quantifiable value that our products might deliver to this prospect. We were surprised to determine that the process, itself, provided us with a means of qualifying the low likelihood of making a sale for this prospect, at least through the contact who partcipated in the conversations with us.

The telltale indicators that we ought to be moving on to higher probability opportunities were found in the contact’s candid assessments of the conversations themselves. Based upon the questions and process of our conversation (entirely composed of a set of questions designed to facilitate free disclosure of any aspects of the prospect’s operations that would impact on the usefulness — or lack thereof — of our client’s offer) it had become clear that our offer would be “expensive” (?!) The sole reason that we can identify for this assessment was the fact that we asked a lot of questions. Evidently this contact had concluded from prior experiences that sales people who ask a lot of questions sell expensive products. When we digested this information we made two key decisions:

  1. These prior experiences with sales people who ask lots of questions had produced substantial projects
  2. Historically, our contact either failed to quantify the value of these projects, or had not participated in the final purchase decision

In retrospect, we need to note how valuable the qualification process had proven to be. After all, we had now determined that the contact involved in these 2 discussions constituted a low probability contact. In a mere 2 hours of our time we had collected enough information to support a decision to move on to other opportunities. Without our qualification process we may have spent 10 hours or more trying to run this contact down. The key for us, of course, was her statement that our qualification process indicated a high cost offer. In sum, she had let us know that she was after a commodity to satisfy an internal need, which our client does not offer. Any further momentum on this opportunity will have to be driven by this contact as our time will be better spent elsewhere.

If your company produces products that must be properly positioned for enterprise business customers it may well be that you, too, understand the need for a highly qualified sales process to produce the right type of opportunity from the market. We would like to hear from you.

You may telephone Ira Michael Blonder at +1 631-673-2929 to further a discussion. You may also email Mike at imblonder@imbenterprises.com.

© IMB Enterprises, Inc. & Ira Michael Blonder, 2012 All Rights Reserved