Edit ModuleShow Tags

No time for tire kickers


Published:

Do you struggle with determining whether to take time to developing a selling opportunity is a worthwhile investment or a waste of time? You might think the answer is obvious:  if you closed the sale, it was a good investment of time, and if you didn’t close the sale, it was a waste of time.  Actually, there is some truth to that line of thinking.  But the length of time to close the sale or close the file on the opportunity is how to measure whether it is a waste of time and resources.

Sales that close quickly shorten the selling cycle, adding to the number of sales that can be completed in any given period of time.  More sales, more revenue and more commission means everybody is happy. Sales that take an excessive amount of resources and time are not always the best sales.  Just because you closed the sale without  taking into account the “cost of sale” in both resources and time doesn’t mean it was still a wise deal to pursue.

The more quickly potential opportunities can be disqualified allowing the salesperson to move on to more viable ones, the better. The longer salespeople spend time with tire kickers (what I call “suspects”) , the less productive they are.  It’s all too common for salespeople to spend more time with prospects (suspects) who don’t buy than with those who do.  Why?  Working on an opportunity, regardless of how slim the chances are, is more desirable than going through the pain of digging up a new opportunity. And most salespeople frankly don’t know how to quickly qualify   or disqualify the prospect. Just because it has a pulse and fogs a mirror, and hasn’t said no yet, does not mean it’s a quality prospect.

So, how can you tell if the prospect/suspect who is thinking about, maybe looking at  the possibility of, exploring options for, giving careful consideration to, and weighing the alternatives for obtaining the product or service you sell is a real prospect or merely a tire kicker?  You must have specific and clear set criteria to judge the opportunity.
The criteria should be applied throughout the selling process to make “go/no-go” decisions about continuing, yes or no, to take the time and use resources in this opportunity.

Concrete facts, not just your “gut” feeling, to do business must be established very early in the cycle.  Making persuasive presentations or submitting thoroughly prepared proposals before compelling reasons for the prospect to buy your product or service is another element that must also be determined early in the development cycle to avoid what I call “unpaid consulting.”
 

Edit Module
Gary Harvey

Gary Harvey is the founder and president of Achievement Dynamics, LLC, a high performance sales training, coaching and development company for sales professionals, managers and business owners. His firm is consistently rated by the Sandler Training as one of the top 10 training centers in the world. He can be reached at 303-741-5200, or gary.harvey@sandler.com.

 

Get more of our current issue | Subscribe to the magazine | Get our Free e-newsletter

Edit ModuleShow Tags

Archive »Related Articles

Congratulations to all our Top Company 2016 winners and finalists!

This year’s Top Company winners and finalists represent large and small, old and new, high-tech and high-touch businesses and organizations in 11 industry categories.

Congrats to our Top Company 2016 winner: The Broadmoor

The resort in Colorado Springs has 779 rooms and suites and an additional 44 suites in six Grand Cottages that border the 18th fairway of The Broadmoor’s famed East golf course.

Congrats to our Top Company 2016 winner: CoBank

Formed in 1989 through a merger of 11 banks, CoBank provides loans, leases, export financing and other financial services to agribusinesses and rural power, water and communications providers in all 50 states.
Edit ModuleShow Tags

Thanks for contributing to our community-- please keep your comments in good taste and appropriate for our business professional readers.

Add your comment: