Incorporating Sales Qualification
Frameworks in Companies
Sales success depends on good qualification. Sales qualification is the act of assessing that a product or service is a good fit for the customer. A prospective customer can turn to be an initial customer upon realizing the sale is qualified. On the other hand, the sales qualification framework helps a sales professional conduct a thorough assessment by applying a set of fixed criteria.
With the aid of a sales qualification network, professionals can make the right decisions whether a potential lead is qualified or qualified out. Every sales qualification framework provides a varying fit for your product or service. Comprehending which leads have the potential to become future sales help you allocate your resources better. An example of a B2B sales framework that works in a simple approach and allows a deeper focus is the MEDDIC sales framework.
Qualification of A Prospect
Qualification of a lead doesn’t start or end on a discovery call. It entails evaluation of prospects and specific characteristics in various stages such as:
- Organizational level: It’s the most basic level of qualification. Undertake more research from references whether a potential lead matches the demographics of a given persona.
- Opportunity level: This is where you determine whether your prospect has a specified need you can satisfy. Determine if you can satisfy the need and if the customer can implement your product.
- Stakeholder-level sales qualification: If you have determined the prospect is a good match, get into a point of contact.
Sales Qualification Questions to Consider Asking Prospects
- What problem are you trying to fix? It’s essential in understanding the prospect to gather insightful information about the problem that ought to be fixed by purchasing your product. Specific issues need specific solutions.
- Why are you looking for a solution now? The need to address the problem could be as a result of a change in management or strategy, a nagging issue that needs to be dealt with, and a hurdle that is hindering to completion of an essential task. The answers will help you determine how essentially a solution is to the prospect.
- Do you have an allocated budget? Budget is unavoidable in the sales process. Understand the prospect’s budget at the right time.
- Have you tried to address this problem before? If prior remedies had been attempted, you may follow up to learn what went wrong. A similar product could have been used but turned unsuccessful.
- Who is involved in the decision-making process? Have a clear understanding of the buying team and who plays the most important role.
- What does your ideal timeline look like? This aids you in establishing a timeframe and also gauges the level of urgency.
- Based on our conversation, how do you feel about our solution? Having discussed major points on decision-making and budget, you should know whether the prospect is qualified or not. This serves as a confirmation for prospect interest, concerns, and objections.
Benefits of Standardizing Your Sales with Strategic Framework
- Scale your sales team: Sales team needs to learn, execute and achieve results. With a defined sales methodology, a structured practical framework demystifies chaos in sales.
- Gather high-quality, actionable, and quantifiable sales data: Initiated framework sets standards that you need to improve forecasts and overall results. This promotes advanced sales data such as urgency, quantifiable goals, and problem points.
- Retain sales success: For both parties, the managers and sales representative, there is always the urge for skills development and goal achievement. Formulate a plan to enable success and progress.
If a potential lead completes a qualifying framework, you can predict the closing timeline and forecast your sales revenue. With the aid of a linear approach sales framework, there is nothing really stopping you from qualifying out of sequence.