We try to be an equal opportunity offender. Depending on which side of the house you are on. This lesson will either have you screaming YES!!, or Oh Hell no…
Those on the relationship building side of the house, will coddle a prospect, try to build rapport, build trust, identify common ground, you know what I mean. This will take longer.
Those on the other side will try to get to the point relatively quickly, in a conversational format to answer these 3 questions.
1. Do you have Money?
2. Are you the Decision Maker?
3. What’s your Time line?
Qualifying prospects in 10 minutes or less implies that you have so many leads and opportunities in your pipeline that you don’t have the time to do Scenario 1. Even though you will be pulled into Scenario 1 at times with a prospect, you really want Scenario 2 answers. Just be honest about it. Get to the point. I’m busy and don’t have the time.
If you don’t have many leads and opportunities, then you have other issues to address. So you are more than likely in Scenario 1. You need to try to get more prospects into your pipeline to close, so you coddle, build rapport etc. Not that these approaches are not important. Just a matter of time and focus.
Qualifying in 10 minutes or less takes practice.
Asking about money is tough, for many.
Ask like this.
Do you have a budget in mind?
Have you discussed this solution/product internally with you management team?
Have you used a product or service like this before?
This opens the door to move to the money question and you can give them a “ballpark” number. Say its $10,000. You then ask, is this something that’s “feasible” for you?
We can get to a “concrete” number later, but I don’t want to waste your time with quotes if this is truly not within your expectations.
Then the next step after you give them the “ballpark” number is. The decision making process. Ask like this.
Help me to understand your decision making process, internally.
This will reveal to you if there are other people involved. If there are, also ask, what do you think they will say about the “ballpark” number? More feedback for you.
Lastly is timeline. Ask, when do you see this happening? Purchase, implementation etc. Their answer will dictate their urgency or not. 30 days, 2 weeks, = urgent. Longer, not urgent.
Some of these tips will change from industry to industry, product to product and types of services. Adapt to your situation.
We are always here if you need us.