Updated: Nov 15, 2020
There are so many reasons why salespeople pursue unwinnable or unqualified opportunities - poor qualification skills are often cited as the primary reason.
Another reason I frequently observe is that salespeople who chase bad deals simply do not have enough opportunities in their pipeline. They pursue more "bad deals" out of desperation and are frequently entering the buyer's process very late in the game - a stage we call the "decision-making" stage.
Engaging with a client at this stage is often too late to schedule discovery meetings. These meetings are critical because they provide opportunity to surface buyer pain points and selling value - 2 key skills that top performing sales people do more than 10X better than weak sales people*.
These 2 skills also lead to the trusted relationships so many salespeople are perplexed how to create. Strong buyer-seller relationships don't simply exist because of the ability to build rapport or likability. That's a misconception so many people get wrong and why they struggle to create them.
Objective Management studies reveal that "relationship building" skills are not significantly different in elite sales people (top 10%) compared to weak sales people (bottom 50%)*. Successful sales outcomes occur more often for elite sales pros because they know how to create value for things the buyer covets and the buyer favors them as their trusted partner as a result.
* Based on 2 million sales people being evaluated by Objective Management Group #1 ranked sales candidate assessment. Evaluate your sales people by registering for a free trial of our candidate assessment.
So, how can you help convert "bad-deal chasers" into "deal-makers" that create value and more importantly strong relationships with loyal clients?
Remember how I said one of the primary reasons these salespeople pursue bad deals is because they don't have enough opportunity in their pipelines?
Let's start by fixing this problem first.
The key to pursuing better, winnable deals is to engage prospects in earlier buyer stages known as the "Awareness, Interest, and Consideration" stages.
When sales people prospect on a consistent basis, they can engage with more potential customers at these early stages and they win more business at higher margins as a result.
Salespeople that prospect consistently get really good at it and will engage more potential buyers that are not under pressure to make a quick decision. They also benefit by scheduling Discovery and Consultative meetings that uncover buyer pain points, monetize the value of these problems, and create value by recommending appropriate solutions - all of which creates a competitive advantage.
Becoming accomplished at these skills and developing the internal processes that support more consistent prospecting will lead your team to higher win rates, margins, and ultimately more successful sales outcomes.
If you found this topic easy to understand but difficult to execute, reach out to learn how we may be able to help put you on the path to rapid growth.