Knowing Your Prospects – Selecting the Right Prospect for the Right Reasons

The use of time (24/7) can be a significant differentiation for all sales organizations, those that use it most effectively are the winners!
We have the three basic questions that need to be answered to optimize where a sales organization spends its precious time.  Today we’ll focus on #1.
The questions are:

  • Is there an opportunity?
  • Can we compete and win?
  • Is the business worth winning?

These questions may appear to be simplistic, however pursuing the wrong prospect for the wrong reasons is a waste of time, energy and money that can never be recouped.
Each of these questions will be explored in detail.
 #1 Is there an opportunity?
This question forces a sales organization to consider if a potential prospect uses or could use its goods and services. This of course is fundamental in any initial discovery process.
Let’s assume the prospect could use the goods or services.
Consider some basic areas to explore to refine the selection process.

  • What are the prospects requirements?
  • What are the critical expectations?
  • Who is the internal sponsor or accountable manager for a project?
  • Who is the decision maker?
  • What is the budget?
  • What is the time and sense of urgency?
  • What is the selection process for choosing a vendor?

Each of these questions will generate other follow up or clarifying questions. At this juncture the sales organization needs to decide if it makes good business sense to move to the next question.
Can we compete and win? Our next blog will address the two components of first competing and then winning.
If you would like to discuss this process with NEALABC contact our CSO at cneal@nealabc.com.

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