One of the things most people fail to understand is that not every lead is worth pursuing. If you understand buyers’ psychology, you will realize that they don’t just buy because they have too much money to spend, a looming deadline to meet, or they like your face. Nah! A combination of factors influences a prospect’s decision to buy your product or service. So, in this article, you learn some of the sales qualifying questions to identify prospects worth pursuing.
Of course, the specific question you ask will depend on your product or service. But here are some important questions to help you know if a prospect is worth pursuing.
#1. What Problem Are You Solving With This Offering
This is one of the most critical sales qualifying questions to identify prospects worth pursuing.
When meeting a prospect for the first time, try to ask them the problem they wish to solve with what you are offering.
For most people, change is not easy. Nobody will want to buy a product or service just for the fun of it.
Except the prospect has a real problem they need to solve, they may not have reasons to buy your product.
But this question will help you to establish your buyer’s pain points. The pain point could be issues that they already know or something entirely different.
When you establish your prospects’ pain points, you can ask them follow-up questions to help you understand your audience’s peculiar situation and how you can help them out.
#2. What’s Prompting You to Do Something About Your Problems Now
Establishing that your prospect has a problem, it’s not enough to qualify them. You need to know whether they are willing to do anything about it. That is why this is one of the qualifying questions to identify prospects worth pursuing.
Some people may be facing serious challenges in their business or personal lives. But they are not ready to do something about it.
However, if you engage a prospect who recently experienced leadership change, market shift, legal issues, and major development in their organization, they won’t hesitate to address problems immediately.
So, in a nutshell, ensure that your potential customers are willing to do something about their challenges immediately. In Spite of how promising your prospect seems, it’s a complete waste of time if they aren’t ready to take action.
#3. What Has Prevented You From Trying to Solve the Problem Until now
There are instances when your prospects have a need, willing to do something about it, but something keeps preventing them from doing it.
Perhaps, solving that problem is not their priority at the moment, or there’s a bend in the path to the solution. Whichever is the case, this sales qualifying question will help you to uncover them.
Your prospects’ response to this question will give you an idea of what has historically prevented them from fixing the problem. It will help you understand whether or not it’s possible to convert the prospect.
#4. Have You Tried to Solve this Problem in the Past? If Yes, Why Didn’t That Solution Work?
This is one of the sales qualifying questions to identify prospects worth pursuing. The prospects may have made efforts in the past to solve the problem. But for some reason, it didn’t work.
You may think digging into your prospects’ past is not necessary. However, it will help you know whether your product or service is a good fit for the buyer’s situation or not.
#5. What Happens If You Do Nothing About the Problem?
This question is sensitive, and how your prospect responds to it will determine if they have a pressing need or not.
And when the prospect tells you that nothing much will happen if the problem remains unsolved, you have two options. Either you disqualify the lead or explain to them convincingly why they need to resolve the problem.
#6. Do You Have a Budget for this Project? If Not, How Do You Fund it?
This is one of the most important sales qualifying questions to identify prospects worth pursuing. I know you may want to say money is not everything.
Well, you are right. But when it comes to qualifying which prospect is worth pursuing, money is an important factor to consider.
Your prospect may have a problem that needs to be solved urgently; they may be willing to take action but don’t have the budget to close the deal. And all your effort would have been for nothing at this stage.
So, it’s always better to check whether the prospect has the budget to buy your product or service. Otherwise, they are not worth your time and effort.
For instance, if the project cost 100k dollars, and the prospect only has $500, such a deal can’t pull through. It would be best if you disqualify such prospects and look for new ones.
#7. How Does the Purchase Approval Work?
This question is crucial if you are a B2B salesperson. The prospect may have the budget for the project but don’t have the authority to close the deal.
As a salesperson, you must understand your prospect’s buying center and every member in it. The members of the buying center play important roles in the buying process.
Most times, the buying center of any organization has the following 5 key members;
The initiators are very important in the buying center. They always feel or recognize the need for a product or service. Initiators could be top management, maintenance or engineering department, etc.
The users of the products you are selling play a vital role in the buying process. What they say about your product or service can make or mar the deal.
Buyers have the authority to negotiate terms for the deal. Their input is significant when the organization is selecting a new vendor.
Influencers are technical personnel, experts, consultants, etc., whose inputs are important in the buying process. Most times, they decide on the product’s specifications.
The approvers authorize the actions of the buyers. They could be personnel from senior management, finance, or the users’ department.
Take note of these people in most buying processes. Try to reach out to them, maintain good relationships, and let them see why they should buy your product or service.
But once you realize that they aren’t interested in your product for some reason, it would be best to let go and look for new prospects.
These are the 7 sales qualifying questions to identify prospects worth pursuing. Ask these questions first before you attempt to close a deal. Otherwise, you may end up wasting your time.