Tell tale signs that a prospect is genuinely interested
A common agenda during a sales meeting is an exercise known as the ‘Pipeline Review’. The whole process of a pipeline review is for individual salesperson to give an account of what are the number of activities in the different stages of a sales cycle.
As a salesperson or a business owner, the most ideal situation is to have as many activity and potential discussions in each stage; illustrated in the picture below, because the fuller the funnel, the higher chance of getting revenue for the business.
The issue with the pipeline, or funnel, is not the concept itself. But rather, the misinterpretation of the expected number of actual conversation that could potentially become a deal.
This misinterpretation can have dire consequences. It can cause salespeople to either miss your sales target at the end of the year, or as a business owner, render you helpless towards projecting your revenue forecast and subsequently, cashflow.
Some of the common response that have misled me into thinking that they will consider a purchase once I attend to their question are;
“Your product is pretty good, can you explain more about it to me”
“Can you send me the information about it”
“How much would it cost”
“Will you offer me a trial”
“It is interesting”
“Send me a proposal”
These are among the worst that can raise hopes up only to smash it to the ground if you depend on them 6 months into the year.
Tell Tale Signs
We cannot be sure that a prospect is going to buy, until the prospect buys. But there are indications that suggests that there is a higher chance that they will purchase it and here are 3 signs that you may get a deal closed at the end of the conversation with them.
Real prospects will engage with you consistently, while those without genuine interest will rarely be interested to engage with you after the initial meeting.
If you want to buy something, you want to find out everything about the product/service that you possibly can. You won’t mind surfing through the internet, asking others who have used it or going down to a trade show to understand more.
The same goes for your prospects. If they are interested to become part of your sales process they don’t mind having another meeting with you just to validate the effectiveness of your product/service. If they are constantly short of commitment to evaluate your offering, then chances are that they aren’t real buyers of your product.
Real prospects have real agenda and real objectives for the purchase.
Unlike direct consumers who have the tendency to do impulse buys, there are always reasons and objectives for a purchase in the B2B environment.
Real prospects will be able to share with you the reason for their purchase.
They are able to clearly define and explain to you why they need your service, how do they determine and measure success, what is the timeline and what is the consequence of not achieving the objectives.
Real prospects have a timeline and knows they need to invest
Solutions cannot wait because real problems cannot be left unresolved. If the prospect is facing with an issue that is hindering the organization, they want to resolve it in the quickest and most efficient manner possible. Prospects who don’t have a timeline to overcoming an issue is a prospect who views your product/services as a ‘good to have’ addition. Good to have additions are also usually viewed as expenses which no companies will want to incur.
If it is a problem that they have not yet put a monetary value to, then it is probably not serious enough for them to take any actions upon it. On the contrary, if it is something that is serious enough for them to action upon, then they will allocate some budgetary amount to solving it.
About Canvass Consulting
Canvass Consulting is a turnkey sales agency for companies to engage on a short-term basis for new market sales feasibility studies. Our key service helps our clients generate revenue streams by executing sales efforts on their behalf in the local market and our strength lies in the ability to penetrate the market efficiently & effectively within a short period of time to provide our clients clarity on the market’s response to their products & services.
At Canvass Consulting, we are your local sales consultancy that helps discover revenue potentials in new markets while reducing your risk, time, human resources & cost in your bid for expansions beyond your shores.
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