Ask Every Prospect These 5 Questions to Close a Sale
Recently I was working a VP of Sales who expressed to me that his sales team was having challenges closing sales. After several sessions of diagnosing the problem, I determined that most of the sales representatives were not asking the right questions in their initial meetings with prospective new clients.
Over the next several months we help them get comfortable by developing five questions that they had to ask every prospect.
1. What are your biggest challenges with regards to [salesperson’s area of focus]?
You should begin every selling conversation by trying to understand the relevant challenges a prospect is facing. So if you sell IT services, you want to understand your prospect’s challenges surrounding IT.
2. Can you give me specific examples of those challenges?
When a prospect discusses challenges in broad, abstract terms, they can seem less urgent. Challenges do not become real for the prospect until he has begun to give concrete examples from his personal business experiences.
3. What would solving these challenges mean to your top/bottom line?
This question can help you start to understand the dollar value of solving your prospect’s challenges. If improving a company’s IT infrastructure could lead to an additional $3M in sales, then that is the value that could be brought to the table with a comprehensive solution.
4. What could you see investing to accomplish that?
Salespeople are so afraid to ask for a prospect’s budget, but not doing so is a massive lost opportunity. The money conversation needs to take place before you put together a sales proposal.
5. Who else should be involved in this conversation?
Have you ever given a presentation only to find that you weren’t dealing with the true decision-maker? This happens all the time and can be easily avoided with this one simple question.
Most Read IRIS Articles of the Week (February 20-24)
Here’s a look at the Top 11 Most Viewed Articles of the Week on IRIS.xyz, February 20-24, 2017
Click the headline to read the full article.
Becoming cyborgs is the way to go for financial advisers…blending robotics and humans into one organism. You see, I am convinced that robo-advice models will succeed and prosper. — Tony Vidler
With the global economy warming up, but political uncertainty remaining a constant, it’s more important than ever for investors to position their global portfolios to navigate long-term market volatility. That’s where the power of diversification comes in ... — Yazann Romahi
The financial world is noisy and it’s easy to become distracted from your most important long-term goals. One way to cut through the noise is to focus on just the two factors that ultimately determine your approach to everything else in your financial life; namely, Market Risk and Shortfall Risk. — James E. Wilson
It’s important to admit the truth behind our actions in order to rectify past and future mistakes or regrets. Living in denial only perpetuates making decisions that could potentially lead to financial disaster. — Michael Kay
There's one key approach that makes you invaluable to your clients so they want to stay with you for the long-term. You have to genuinely be interested in people. — Paul Kingsman
When you start dating, you usually start off sharing stories. Tales of your childhood, your previous relationships and your college days. Those stories help explain to your partner who you are and how you act. — Mary Beth Storjohann
It runs counter-intuitive to what we have been led to believe business is all about: make more money and everybody wins, surely? Talk about revenue so that everyone knows what’s important. What’s the problem? — Barry Chandler
In the wake of President Donald Trump’s stunning upset victory, however, muni investors were forced to readjust their expectations of fiscal policy going forward. Because Trump had campaigned on deep cuts to corporate and personal income taxes, equities soared while munis sold off, ending a near-record 54 weeks of net inflows. — Frank Holmes
What does it mean to be a customer-centric company? That seems to be the question of the week. It started off with one of our subscribers emailing in the question, followed by two reporters wanting my take on this now-popular phrase for their interviews. — Paul Laughlin
Everywhere I look I see organizations and people investing heavily in new initiatives, transformation, and change programs. And in almost every case the goals will never be met. One of the most crucial causes of the failure? The right questions were never asked at the outset. — Paul Taylor
Why should we think the head of a private equity company could effectively “fix” US Intelligence? It is not apparent that this individual is even remotely qualified to fix the US intelligence apparatus. — Kathleen McBride
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