Bad News Early is Better Than Bad News Late
It is important to qualify sales opportunities throughout engagement with your customer. Identifying the right sales opportunities frees up time and resources so that instead of wasting time on sales cycles where the customer’s eventual answer will be “NO!” you can focus on customers, opportunities, and strategies that will result in winning a higher percentage of deals.
Good qualification allows you to avoid investing significant time on opportunities that are hanging by a thread.
You know those situations:
– You rack your brain trying to figure out how you can move your opportunity forward, but your prospective customer is not really engaged and seems to be uninterested in solving real business issues.
– Your customer isn’t placing a high priority on your project because they are distracted with other, seemingly more urgent projects… I mean, what could possibly be more important than your project, right?
But why drag things out? Wouldn’t it be better to learn sooner than later that the deal isn’t going to happen? When you can’t seem to advance an opportunity, keep the following in mind:
Bad news early is better than bad news late.
Let’s say you are pursuing a deal that has involved several detailed steps. Your effort has consumed valuable sales resources only to find that the customer has selected your competitor’s solution.
Losing a deal at the eleventh hour is an example of receiving bad news late. It is the worst-case scenario. You and your selling team have expended all the time and energy to win the deal, only you don’t get to claim victory. You have just wasted precious time and resources. There is no silver medal for finishing second, and you certainly are not rewarded with sales commissions. Second place is the absolute worst place to finish in a selling competition.
I’m DJ Sebastian, for more info on what it takes to become an Elite Seller, visit my website at thetechseller.com