Inside Sales Training – Qualifying Buyers
What is Qualifying a Buyer?
This is a process which helps you to figure out if you have a chance to win the deal and what you should be doing to win the deal.
Each one of the buyers may be in different stages of their buying cycle.
You can’t convert all leads into purchase as the buyers may not have the budget, may have a negative opinion about you and would also be having their choice of vendors but like all of us, they would also like to window shop and would talk to sales people to learn. However, this should not be perceived as an intent to buy from us.
A few parameters in Qualifying Buyers would be
- A match between the buyers needs and your capability or service
- The decision making level of the main stakeholder you are in touch with
- The Budgetary approval within the organization to proceed with a purchase like this and if possible, the indication that the company can afford the kind of money that you expect in return for the product or the service to be provided to the buyer.
- The timelines within which they would make the decision to buy or the timelines within which they would have to complete the project
- The impact that your product or service will have within the buying organization once the purchase is done. A Higher impact on the business will mean that the purchase will be done sooner and a lower impact will mean that the purchase may happen at a later stage or may not happen at all
- The competition you are up against. Is the competition a company that has a potential disadvantage compared to you.
- The Openness the buying organization has in empaneling new vendors. All your efforts will go waste if they cannot empanel you.
The entire process of qualifying can be accomplished by asking a set of carefully worded questions. The buyers may hold information or choose not to respond if the questions are perceived to be intrusive to them
This module will work extensively on deciding the qualifying criteria and how to ask the right question to the buyers and understand what stage they are in. This will help us in not having a false positive and also will help the sales person in providing the right type of information to help them take a decision. This will help us in two ways – one is building a positive image with the buyers as they will like us for the contextual information we would give them and this will also help us in not wasting our time in producing enormous custom content to the unqualified buyers hoping that they will give us business somehow.
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