qualifying prospects: a formula for success

© 2014 ValueSelling Associates, Inc. All rights reserved.

This document contains proprietary information of ValueSelling Associates. Its receipt or possession does not convey

any rights to reproduce or disclose its contents or to manufacture, use, or sell anything it may describe. Reproduction, disclosure, or

use without specific written authorization of ValueSelling Associates is strictly forbidden.

Qualifying prospects:

A formula for success

Scott Anschuetz

CEO and Founder, Visualize, Inc.

for ValueSelling Associates, Inc.

March 11, 2014


CAST

CAST

CAST

CAST

Wuzzle


Did you know?

Over half of all salespeople close at less than

40% when pursuing a “Qualified Opportunity”

– 17% win less than a quarter of their potential deals

– 37% win less than half of their potential deals

– 46% win more than half of their potential deals

High performers are 2.5 times more likely

to be good at qualification than the rest of

the population.

* TAS - salesforce.com Blog 2014


Today’s topics

How much are you worth?

Pre-qualifying the best prospects/targets

The #1 reason a deal is not qualified

A consistent prism for qualification

Qualification objections assessment


How much

are you

worth?

Seriously, do you know what your hourly rate is?

Quota / 2000 hours = hourly rate

E.G. $1,000,000 / 2000 hours = $500/ hour

Multiply by 2X (Opportunity Cost)


Today’s topics







Identifying the profile

What are the

common characteristics

among your current clients?

Can you describe your best customers?

Industry

Business issues and

problems solved


Research (be prepared)

Research them and the company/agency

– Company/agency website

– Earnings report if public

– Google search the individual

– LinkedIn

– Business journals

– Associations

– Trade press

– Partners

– Local sales reps


Today’s topics







THE #1 reason for a slip deal

in an unqualified situation


But first…. definitions


Problem

Combination of people, process and

technology challenges

Business Issue

What customers need to address and

resolve to achieve business objectives

Value created by resolving business issues

Business

Objective What customer needs to accomplish

to maintain or grow their business


THE #1 reason for a slip deal

in an unqualified situation


Lack of connection to a legitimate critical Business Issue


Today’s topics







What impacts qualification?

Business Issue? Differentiation?

Value?

Plan?

Power?


Should they buy?

A confirmation between buyer and

seller of the buyer’s unresolved

Business Issue and Problems; the

buyer’s vision of the Solution; and

the buyer’s articulation that you are

the only vendor who can deliver a

matching solution.

Qualified Prospect Formula®


Should they buy?

Will they buy?

The buyer's perception of the

impact or worth of resolving their

Business Issue. Includes the

individual’s perspective on the

organization’s gain, and his/her

personal gain in implementing

your solution.



Should they buy?

Will they buy?

Can they buy?

Understanding of and access

to the actual decision maker.

Includes utilizing your

authority over resources to

advance the opportunity.



Should they buy?

Will they buy?

Can they buy?

How they buy?

The mutually agreed upon

steps necessary to evaluate,

close the sale, and implement

the Solution to resolve or

achieve the Business Issue.



Should they buy?

Will they buy?

Can they buy?

How they buy?





Value?

Plan?

Power?


71% of salespeople

simply talk product

*Sirius Decisions CXO Effectiveness Study, 2011




Value?

Plan?

Power?


Things to keep in mind

Two people/organizations can and do make the same

decisions for different reasons

Value is uncovered – not created

Business Value

is customer-specific

Personal Value

is individual




Value?

Plan?

Power?


Getting to Power

Identify Gain access Maintain

access




Value?

Plan?

Power?


Confirm it in writing!

Every written message is an opportunity for the sales person

Take a proactive approach to managing the steps in the sales cycle

Be deliberate in understanding the prospect’s view of when


Action: Re-qualify every opportunity


Value?

Plan?

Power?


Today’s topics







Should they buy?

(from us)

Will they buy?

Can they buy?

How they buy?



Qualification objections

Price QP=VMD x V x Po x Pl

QP=VisionMatchDifferentiated x Value x Power x Plan

Competition is better QP=VMD x V x Po x Pl

Not a priority QP=VMD x V x Po x Pl

No budget QP=VMD x V x Po x Pl


Summary

What are you worth?

High performers 2.5X

Business Issue #1 reason

QP Formula – prism

Potential Impact

– Business Issue

– Differentiation

– Value

– Power

– Plan


Complimentary review of your deal My team will review your deal and provide specific

feedback/coaching:

Email Scott Anschuetz directly

[email protected]


At the end of today’s webinar

Download a copy of today’s presentation from our website:

– Go to www.valueselling.com

– Go to Resources > Webinars

http://www.valueselling.com/


Questions?


Next webinar

Closing the gap: Your sales process & their buying process

April 3, 2014

9:00 AM PDT

Jim Roche

Managing Partner

ValueSelling Associate


Visit the eStore at valueselling.com

Books

ValueSelling tools

On-demand courses

Complimentary library of webinars and newsletters


Follow us!

ValueSellingAssoc

ValueSelling Associates

ValueSelling-Associates

@Valuselling


The proven formula for accelerating

sales results.

Thank you

Scott Anschuetz

[email protected]

+1 248 593 5455

qualifying prospects: a formula for success

Sales