Before is the key word here. A salesperson must qualify before they ask for the sale.
First things first, in case you’re new to sales, qualifying is the process of determining whether a lead has the potential to become a customer. This is achieved by asking questions to identify certain “buying” characteristics in a lead (e.g., budget, timeline, pain point).
BANT is a popular acronym used by sales orgs to easily remember qualifying questions:
- Budget: How much is the prospect willing to spend?
- Authority: Who makes the buying decision?
- Need: What is the prospect’s pain point? Quantify this if possible.
- Timeline: When is the prospect planning to buy?
If answers to these questions indicate that the lead is NOT a buyer, then you shouldn’t waste your time. Not every lead is a good fit for your product or service, and part of being a great salesperson is quickly differentiating between the buyers and the time-wasters.
(Side note: this is also true of life in general. Not every date is good for you. There are plenty of fish in the sea. Not every job is good for you. Find one that’s right for you. Not every book is a good book. Stop reading and pick up another.)
There are a few key benefits from qualifying your sales leads:
- Save time – by qualifying out non-buyers, tire kickers, and bad fits
- Learn what the client cares about – to tailor your pitch and value accordingly
- Gather “ammo” – to battle objections when you ask for the close
For the rest of this article, I want to talk specifically about #3.
When you’re qualifying a lead at the beginning of a sales encounter and scribbling down their answers on a piece of paper, don’t throw away that piece of paper – you’re going to need it.
Better yet, get in the habit of typing qualifying Q&A’s into your CRM for each lead right when you’re on the phone asking the questions.
Then, when it comes time to ask for the close, you should have those qualifying notes in front of you.
Here are two examples of how you can use qualifying info to battle objections.
Objection #1: I need to talk to my spouse / partner / boyfriend / girlfriend / cat / dog (Authority)
Salesperson: Alright Joe, I’m ready for that credit card when you are.
(Long pause.)
Prospect: I don’t know, Cole. I think I need to talk to my business partner about this first.
(There’s the objection.)
Salesperson: I totally understand, Joe. And I might be misremembering, but didn’t you mention your partner was just a 10% owner in the company?
(Asking this question is redundant. You should already know the answer from qualifying earlier. But we want to see if the prospect changes their answer.)
Prospect: Yea …
(Make sure you pause here in case the prospect has more to say.)
Salesperson: And he lives in Japan, so you won’t be able to get in touch with him until tomorrow at the earliest?
Prospect: That’s right …
(And pause here again.)
Salesperson: Hmm … well here’s what I’m thinking, Joe. Since you said you need this set up and ready to go before tomorrow for your big opening, let’s get it started now and then we can make any necessary adjustments after you’ve talked to your partner. How does that sound?
Prospect: Well, I guess that sounds alright.
Salesperson: Great, so all we’ll need to get started is your first month’s payment.
Objection #2: It’s too expensive (Budget)
Salesperson: Alright Joe, I’m ready for that credit card when you are.
(Long pause.)
Prospect: No way, it’s too expensive for me.
(There’s the objection.)
Salesperson: I totally understand, Joe. Finances are tight for a small business like yours. Let me ask you this, how much did you say [insert pain point] was costing your business per year?
(Asking this question is redundant. You should already know the answer from qualifying earlier. But we want to see if the prospect changes their answer.)
Prospect: Well, we already talked about that earlier. You said it was costing me $2,000 per year or something.
(Make sure you pause here in case the prospect has more to say.)
Salesperson: Exactly. And this service is costing you $750 per year. So I know it seems expensive, Joe, but you’d really be saving over a thousand bucks per year. What do you think?
Prospect: I guess that makes sense …
(And pause here again.)
Salesperson: So here’s what I’m thinking, Joe. Let’s get you started on our 3-month program, and if you’re not saving more than it’s costing you in that time, we’ll shut it off. How does that sound?
Prospect: Well, I guess that sounds alright.
Salesperson: Great, so all we’ll need to get started is your first month’s payment.
>>>
Without having gathered this qualifying info ahead of time, an amateur sales rep will try to play catch-up after they hear an objection.
When they hear the Authority objection (#1), an amateur rep will think to themselves, “Oh shoot, who’s this partner?” Then they’ll fumble with asking the prospect about their partner and be forced to schedule another call (with all the decision-makers this time).
When they hear the Budget objection (#2), an amateur rep might even believe it. They’ll think to themselves, “Well, $750 is a lot of money.” But if you quantify the prospect’s pain point and how much your service could save him, the value of your service becomes clear.
The point of qualifying is that you’re not caught off-guard when the objections come. Everything is laid out in front of you like a chess board and you know your next move no matter what your opponent does.
This is why qualifying has to happen before you ask for the sale.