Not all prospects are created equal and it is up to you to determine if your prospect is the best match for your product or service. This small preparation step, the act of qualifying your prospect, eliminates you wasting your prospect’s time in addition to your time which is super important because time is something that neither of you can replace. Also, you will eliminate your own frustration and opportunity for burn out.
The three I’s consist of the following:
Influence: Are you speaking with the decision maker? Can they make changes pertaining to their situation? If not, does the prospect play a part or provide any influence when it comes to making a change? If not, who would be that person?
Interest: Does the prospect have a challenge/problem that they need to solve? Is the challenge or problem urgent? Would it make a big difference if the challenge or problem was solved or not much of an impact? Is the prospect in the process of investigating options or are they ready to make a decision as soon as possible? Where is the prospect’s interest level?
Investment: Can your prospect afford your product or service? An ideal situation would be yes. However, you will come across some prospect’s that can afford your service or product but not immediately. If this is the case, when will they be able to afford the investment or is the purchase amount out of their budget?
Obtaining clarity on the three I’s sets a strong foundation for the remaining of the sales process to take place. If you are speaking to someone that can’t make a decision pertaining to any changes, you are wasting your time, if you are speaking with someone that really has no sense of urgency or a real need, once again, you are wasting your time, we all make changes when we clearly need to make a change due to us being uncomfortable or experiencing some type of pain from our current situation and we believe that the change that we have chosen will better our situation and will clearly give us a payoff or benefit. Lastly, if you are selling to someone that can’t afford your product or service, you can have the best sales presentation in the world, but the exchange will never take place because the means were never there to complete the transaction. Master the three I’s and open the door to your best prospects, prospects that are most likely to buy because they have the ability to make a change, they have an interest or a need and lastly they can afford the change.
Leslie Wells, the owner of L. Wells & Associates, Inc. is passionate about entrepreneurship. Her motto is “nothing happens until a sale takes place.” L. Wells & Associates, Inc. specializes in helping small to medium size organizations, schools and child care centers with new business development through sales training/coaching, marketing strategy, customer service training (retention) and various calling campaigns.
She holds a BS Degree in Business Administration with a concentration in Marketing from Towson, MD and has 14 plus years of sales and marketing experience. To find out more about L. Wells & Associates, please visit www.lwellsassociates.com.