05 Feb Forbes: How To Tell If Your Customer Is Ready To Do Business In The First Meeting
Mike Lockert, Simplus EVP of Sales, has begun his blog on Forbes! Mike is an expert sales leader who knows how to win any deal, and we couldn’t be more thankful for his excellent thought leadership! His first article covers five big questions you need the answer to in order to read a customer during your first interaction. Read on for an overview of the five ways to tell if your customer is ready for business, or read the full article here!
1. What is their definition of success?
“Get a feel for their ambition. That will inform how serious they are about your potential business relationship. Someone who is more concerned about meeting the minimum than setting records may be less likely to do something new, like doing business with you.” — Mike Lockert
2. Are they the economic buyer?
“You can tell a lot about the prospect’s intention by who they introduce you to within the organization. Did they present the economic buyer — the person who will make the final decision? Or is this person merely a representative of a larger committee that you’ll have to feel out later?” — Mike Lockert
3. What is the deciding factor?
“Usually, when you ask this, they’ll toss out a buzzword like “budget” or “timeline.” It’s an answer, but it’s not always the answer. I recommend digging deeper because, if price were the most important thing, we would all be eating off-brand chocolate cookies with cream centers instead of Oreos.” — Mike Lockert
4. Do the timelines match up?
“You will get inquiries from companies who are sincerely interested in enlisting your services — but perhaps not for years down the road. You can send those to the marketing department to nurture. You and your team should partner with clients who understand their own timelines.” — Mike Lockert
5. Does what we offer align with their needs?
“It’s not always a matter of whether the customer is wrong or right for you: You also need to figure out if you are right or wrong for them.” — Mike Lockert
Follow Mike Lockert’s blog on Forbes to get more tips managing the sales cycle with ease!