Salespeople are often reluctant to ask potentially uncomfortable questions about money, requirements, timing, or anything else that, in their minds, could potentially delay or even derail the sale.
But it’s critically important to do so, and as early as possible. If your pitch is successful and the prospect wants to learn more, it’s time to find out if you’re a good fit for each other.
If you’re not a good fit, for whatever reason, it’s better to know sooner rather than waste everyone’s time (and money) on a formal presentation, a detailed proposal, and a lengthy negotiation process. If you can’t win the business, or win it profitably, it’s better to walk away early.
It seems counterintuitive to bring up anything negative, especially the reasons why the prospect may not want to work with you. But in my experience, openly discussing why you and the prospect might not be a good fit builds trust and encourages the prospect to open up and share more information.
Questions to ask the prospect:
• What is it about us that interests you the most?
• Why is now the right time for you?
• Why not continue doing what you’ve been doing? What about your current situation is causing you problems?
• Have you ever purchased products or services like ours before? If so, what was your experience with them?
• How will you make your buying decision? What are the most important things you’re looking for?
• What information do you need from us?
Information to share with the prospect:
• How we work
• The type of customer we work best with and why
• The type of customer we don’t work well with and why
• What our products and services are designed to do and not do
• What our prices generally look like and what they’re based on (value, ROI)
• What our implementation process looks like
• What the prospect needs to be open to doing or changing
• What the prospect must do before we get started.
Once you and the prospect have shared the necessary information, it’s time to decide if you should take the next step in the sales process.
If you both agree that there may be a fit, a more detailed presentation followed by a Q&A session is probably in order.
If the prospect wants to continue, but you don’t think there is a fit, you might say something like the following:
• “Based on what you’ve told me about your expectations, I don’t think we’re the best option for you.”
• “Based on what you’re willing to spend, I don’t think we can serve you properly.”
Then give the prospect an opportunity to qualify themselves by providing the reasons they want to continue. But under no circumstances should you schedule a presentation or develop a proposal before you have good reasons to do so.
The point? Find a fit or walk away before you invest your limited time and resources on a prospect that’s not right for you.
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