How to Qualify a Prospect
Each prospect has 6 characteristics: need, fit, time, ability to buy, authority to buy and accessibility. The idea is to identify these characteristics in a person or a company.
Today we’re talking about how to qualify a prospect effectively.
So, to qualify effectively we have to focus our effort on 6 areas.
First, Clear up their needs. Does a prospect need our solution? What results is a prospect going to achieve? How will these results impact a prospect? There are maybe few levels of needs: personal, group and company. We must discover the needs for all levels.
Second, Determine how our solution fits the needs. Can a prospect use our solution? How will the qualities and advantages of our solution benefit a prospect? Will a prospect be fully satisfied with our solution? Is our solution vital for a prospect? Does a prospect want to own our solution?
Third, Identify deadlines to meet the needs. When is a prospect going to make a deal? What is a real reason for these deadlines? How much will it cost a prospect to postpone or to do nothing? What will a prospect gain if they implement our solution right now?
Fourth, Define the ability to buy. Can a prospect afford our solution? Do they have an approved budget? What budget was allocated for this deal? Who approves a budget for this deal?
Fifth, Identify the authority to buy. Does a prospect have the authority to buy? What is their buying process for such a deal? Who is involved? How long will it take to buy? What other providers have they worked with? What is their evaluation process like?
And finally, Determine prospect’s accessibility. How much will it cost to reach a prospect? How much will it cost to maintain a relationship with a prospect? Who will be involved to maintain a relationship with a prospect?
In general, qualifying a prospect is a process of asking the right questions, listening carefully to a prospect and creating the necessary environment. Now, practice to qualify your prospects properly. And it’s your time great invested.