Why is qualifying prospects important?

qualifying prospects -infographicHave you ever had a sales process swimming along perfectly, had several meetings with a very interested and positive prospective customer who loves everything about your product or service?  It does happen!  This person is happy to hear from you (a refreshing change for a salesperson!) asks for and reads all of the relevant the literature and materials, asks relevant questions, and frequently nods or agrees. He even laughs at your jokes.  He doesn’t raise serious objections about price, or anything else for that matter. You call him frequently, have had several positive visits (racking up your frequent flyer miles or gas points with the FBO) but you don’t mind because this person loves the product so much he’s SURE to make a large purchase.

When you’re finally certain that you’ve addressed every concern and spent time investing in a great relationship, you ask for the sale.

“It’s a great product, but it’s just not in the budget right now.”

or

“I ran it by my boss and he said no.”

UGH!

You  just spent several weeks devoting a significant amount of time to a prospect who was not qualified.  Back to the drawing board, to start over with “greener” leads.

That’s several weeks in your sales process that you’ll never get back. You could have used that time much more profitably building a relationship with a prospect who had the resources and the authority, besides the interest in the product.

We’d like to say that we’re too smart to have had this happen to us, but we have to admit that we’ve been there and done that, more than once. How do we prevent this expensive (and potentially dangerous) waste of time?

Obviously, by finding out if the prospect was qualified before you spent time and money sending him information packages, researching answers to his questions, and having appointments with him figure prominently on your calendar this month.

qualifying prospects

At Air Races, they use qualifying gates to determine who the best racers are. You can use “qualifying gates” in your sales process to determine who the best prospects are.

Of course, it’s “in poor taste” to simply ask a prospect during the first phone call if he has the money and authority to buy from you.   After all, even if someone ISN’T qualified that doesn’t mean that they don’t have the means to introduce you to someone who is. And most people are relatively honest and willing to help if you ask the right questions at the right time.

There are several steps in Phase Two of your marketing process that can help you qualify prospects:

  • You can structure your offer or “bait” to attract qualified prospects.
  • Create an inexpensive, automated track within your marketing system to nurture unqualified leads who may eventually lead to a sale or referral.  (More qualified prospects get an information package in the mail, less qualified prospects get an automated email series. You’re taking care of both types without racking up the budget!)
  • Word your headlines and marketing materials to “politely exclude” the unqualified without being offensive.
  • Add “qualifying gates” you can use in web forms, initial conversations, and other interactions with prospects.
    (“Free sample for Cirrus owners.  Complete this form and include your tail number below.”)
  • Ask indirect questions to tactfully determine resources and authority. (“Tell me about your company.”  “The Director of Operations sounds like a huge job for an organization like yours – tell me more about what you do.”   “Who is workingPhase Two

    with you on this decision?”  “Who else would be using this product?” )

  • Ask direct questions that prospects don’t mind answering at the appropriate time.
    (“Do you have a budget for the project?”  “Do you mind sharing that information with me so that I can make appropriate recommendations?”)
  • Discreetly research people and companies on the web before you invest too much.

Phase Two marketing is traditionally overlooked component of any marketing system, and is often where potential sales fall apart.  It doesn’t have to be that way!

We’ll be talking about these items in Wednesday’s video for our aviation marketing Executive Brief members.

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