Have you ever lost a sale that seemed certain? It happens to the best of us. Improving your sales success involves understanding and applying the five "Rules of Qualification." Ignoring these rules can drastically reduce your chances of closing a deal, by as much as 50% for each rule violated.
To boost your next sales call and return with a contract in hand, follow these five essential rules:
Ensure your proposal is heard by the person who has the authority to say "yes." Build a relationship with this decision-maker, often through their "gatekeeper," such as a CEO's administrative assistant. This relationship is crucial for presenting your proposal effectively.
Stand out by deeply understanding what your customer needs. Ask insightful questions to uncover these needs and adapt your solutions accordingly. Avoid overwhelming them with jargon; clear, concise communication is key.
Understanding your competitors provides a strategic edge. Highlight what sets you apart from them, emphasizing unique features and superior skills. This helps ensure that the decision isn’t made solely on price but on the added value you offer.
Focus on prospects who need assistance soon, ideally within the next month. Create a sense of urgency through thoughtful questions. If a prospect repeatedly stalls, it may be more productive to move on rather than waste time.
When prospects say your price is too high, it often means they don’t see enough value. Emphasize the unique benefits of your product or service to justify your pricing. Differentiating yourself from the competition is critical, especially if your price is higher.
By adopting these rules, you might also want to reconsider what you're truly selling. Are you merely offering a product or service, or are you fulfilling a deeper need?
Consider a life insurance salesman who was struggling until he changed his strategy. Instead of selling insurance as a security measure for the prospect's family, he focused on fulfilling the prospect's personal goals.
For instance, if a prospect wanted his children to attend his alma mater, an Ivy League school, he might worry that his wishes would go unfulfilled if he passed away and money was tight. By presenting life insurance as a way to ensure funds for his children’s education, the salesman tapped into the prospect’s deeper desires. This approach transformed his pitch from selling family security to helping the prospect achieve a personal dream, even in his absence.
Incorporate these five rules into your sales strategy to open the right doors and increase your success rate. By deeply understanding and addressing your prospects’ needs, differentiating from your competition, and justifying your value, you’ll find yourself closing more deals and building stronger client relationships.
Get in touch today and find out how we can help you meet your objectives.
