There are many sales organizations that struggle with a team of reps who are wasting too much time deals with prices tags that are too small. When you have aggressive growth goals and only so many days in a quarter, you need your team focused on deals that solve the biggest problems and make the biggest dent in the revenue targets.
Here are five questions that will help you steer conversations toward business pain and high-value solutions.
"How Does This Process Work?"
"How does this process work?" is an important question to ask early on in your needs assessment. Before you can match a high-value solution with a buyer's needs, you need familiarity with the full scope of the process. Once you understand the process, you can find out where it's working well and where it needs improvement.
"What are You Currently Happy With?"
This question or, "What's currently working well?" allows you to establish a positive tone and warms your prospect up to the conversation. It also opens the door for a prospect to talk about what isn't going so well, which as you know can lead you to uncovering the negative consequences and key business pain.
For instance, a prospect might say, "Our product team is dedicated, hard-working and committed to a strong customer experience. However, our current software solutions we use don't allow us to effectively and efficiently help customers in the best way."
"What are the Consequences of Not Fixing the Problem?"
Consequences that lead to sales opportunities often fall into three categories - money, time and risk. If you're going to attach value to the problem, you need to uncover the pain associated with losing revenue, losing time and increased risk. The more severe the ramifications the more likely a buyer will be willing to allocate funds.
"What are the Current and Ongoing Costs Associated with Your Problem?"
If you want to charge a premium for your solution, you need to be able to quantify the cost of the consequences. Knowing a company is losing money because of a certain process is not enough. You need to know how much money in order to truly tie the value of your solution. The greater the financial impact of the problem a buyer faces, the greater your ability to speed up the sales cycle.
"How Much Time Do You Have to Solve Your Problem?"
This question will help you identify if there is a sense of urgency, or if there needs to be. Identifying how big a problem is and how much time can be wasted before it is fixed will help give you leverage in moving the deal forward and in the final stages of negotiation.
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