One of the difficulty in selling is to manage our prospects not have them manage you. Selling is a profession where you must subliminally drive the prospect to appreciate the time limitations you have in selling and getting them to take actions steps to buy.
According BDM news there are 7 stages of client commitments. what are those ? Here are the summarized :
- Prospect Attention – Capturing the prospect’s attention happens when you successfully cold call, network, or respond to an inbound lead by making contact with an appropriate prospect who has economic approval to buy.
- Prospect Disbelief – Prospects automatically tend to disbelieve you on the first pass for the simple reason you’re a salesperson. Use your knowledge of their business model and business pain to break through their disbelief filter and “prove” that you sell your offerings as a business tool which can help their business.
- Prospect Value Identification – Based on your firm’s unique sales value proposition, you must position yourself and your firm differently from your competition and get the prospect to verbalize the difference.
- Prospect Action Step Commitment – To sell more prospects, you need to drive them to make “action step” commitments not “verbal” commitments. Has a prospect ever told you “we are going to sign the Purchase Order in December” and then not respond to any of your calls or email inquiries until April of the next year? Prospects need to show action steps that move your sales cycle forward to prove you should spend time with them.
- Prospect Time Management Commitment – To close deals, management must commit their time for your product or service review, demo’s, executive briefing, and contract negotiations. If you have a prospect who will not commitment their time, then they are not ready to buy.
- Prospect Financial Commitment – There is an old Sicilian saying that my grandfather (a successful entrepreneur) use to say “No money? Call me when you have a nickel in your pocket.” Spending too much time on a prospect because they “should” buy or “will” buy sometime in the future will not help you hit your sales quota (or target) now. Prospects must make a financial commitment by giving you their budget or confirming your investment is affordable, otherwise you are just making friends – not customers.
- Prospect Decision Commitment – The goal of every sales cycle is decision commitment. It’s one thing to take a prospect through 6 steps and at Step 7, they buy from someone else. It’s another for the prospect to decide NOT to buy from you or your competitors. You must force prospects to make a decision or else you are wasting your time with professional lookers.