How To Win More Deals In Shorter Selling Cycle
by Ming
Sales is a complicated, complex yet rewarding profession. There are many skill sets that salespeople need to learn, practice and master to be top sales performers.
There are many factors that may contribute to top sales performers' success. One of the key factors to succeed is opportunity qualification or also known as deal qualification. Top sales performers are very ruthless and vigorous in their opportunity qualification process as they respect their time and they know time is a major factor in any salesperson’s performance indicators.
Salespeople are always under pressure to meet sales targets. That's just part and parcel of being in sales. Salespeople have to meet all sorts of sales targets; monthly, quarterly and yearly sales targets. If and when salespeople are behind their numbers, they will face tremendous pressure as there will be limited time for them to meet their sales targets. When salespeople feel overwhelmed, they start to panic and become desperate to achieve their sales target.
Oftentimes we see salespeople working hard to get prospects and the moment they smell an opportunity, they jump on it without doing any due diligence to qualify the opportunity further.
Why bother qualifying sales opportunities?
What is a great sales opportunity? Good question!
A great opportunity is one that provides the salesperson with a high win chance by the end of the selling cycle. In order to win more deals faster, salespeople need to learn, practice and master good sales qualification techniques.
RevUpZone holistic sales opportunity qualification methodology focuses on 2 phased approach to qualify any sales opportunities. With these 2 phased approach methodology, salespeople will cover all aspects of sales opportunity qualification in order to qualify deals with the highest win chance. It's easy to remember acronyms and proven simple step-by-step structured techniques to qualify a great sales opportunity.
RevUpZone sales qualification methodology 2 phased approach
Salespeople need to focus their time, energy and resources on deals they can win
Phase 1 : Customer and sales opportunity qualification
The 1st phase is about the customer and the opportunity. Focusing on the customer and opportunity characteristics, salesperson need to get answers to the critical questions to qualify sales opportunities. We term this as an external sales opportunity qualification. When a salesperson have a deeper understanding of the customer’s Challenges, Objectives, Timeline, Authority and Money, the salesperson will be able to answer all the critical questions needed to qualify sales opportunities with higher win chances.
In short, this process is known as COTAM.
Phase 2 : Critical points to consider before pursuing a deal (internal sales qualification)
The 2nd phase is about the company the salesperson is representing. Everything in this process is focused on the company, how the company stands versus their competition, the company's target customers, how their products and services can meet their customers’ needs and whether the company and their products and services have any value and unique selling points.
In short, this process is known as 3CPU.
In summary, it is extremely critical for salespeople to grasp these 2 phased approaches of sales opportunity qualification processes so that they pick the right sales opportunities to focus their time, energy and resources with the highest win chance and shortest selling cycle.
Contact coach@revupzone.com for more info on RevUpZone sales training programs for you and your sales team or 121 coaching sessions to master sales hunting skills to win big and win fast!