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5 Questions for Understanding Your Prospect's Buying ...
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The second part of the question is: “In addition to yourself, who is part of the decision-making process, and who in your organization would be impacted by a change?” “Are they using a consultant? Is there a board that will be evaluating different proposals? Would employee stakeholders feel disrupted or threatened if a new relationship developed?” Third, ask, “What is it that you are hoping to accomplish?”
Or perhaps you felt great chemistry between you and your prospect, but then they decide to stay where they are because your price is higher. “These are just a few of the risks you face when you don’t take the time to explore and understand your prospect’s decision-making process.” Remember, it’s probable that your prospect has been making decisions in a manner that is harmful to their business, typically by bidding and quoting their insurance every year or two. This approach favors the incumbent and can leave the business at significant risk. It’s your job to lead them away from their old, flawed process, toward your more effective one.
Or perhaps you felt great chemistry between you and your prospect, but then they decide to stay where they are because your price is higher. “The good news is you can greatly reduce the likelihood of these scenarios playing out if you focus on asking the right questions early in your first meeting.” Remember, it’s probable that your prospect has been making decisions in a manner that is harmful to their business, typically by bidding and quoting their insurance every year or two. This approach favors the incumbent and can leave the business at significant risk. It’s your job to lead them away from their old, flawed process, toward your more effective one.
When you walk into a first meeting with a prospect, two processes are often in play: how you want to sell, and how your prospect buys. “These two processes are frequently at odds, which begs the question: Whose process will be followed?” It’s your job to identify your prospect’s process, determine its effectiveness and be prepared to lead them toward your approach—and a new way of thinking and doing.