A salesperson’s time is a very valuable resource, especially today when hunting for new business is a main priority. Therefore it is crucial to identify qualified buyers early on, before too much time is wasted.

I have identified  two types of buyers, (price sensitive) the buyer who is looking for the lowest price but does have an understanding and respect for quality and (bottom feeders) the buyer who is simply searching for the lowest price and is willing to sacrifice quality and service to get it. If your value proposition does not involve a lowest price strategy then you will need to identify bottom feeders early in the sales cycle and quickly move on.

If a salesperson is working with the price sensitive buyer the salesperson must  first provide education as to why the additional investment is important and (if available) provide financing options including quantity discounts, leasing options etc.

If they are working with a bottom feeder the salesperson must provide education and use sales skills to inform the buyer of the potential (negative) outcome of their decision-to see if they can convert them to a price sensitive buyer. If unsuccessful they must discontinue the selling process and invest time to locate better prospects.

Salesperson must use their sales skills, knowledge and expertise to “qualify” which type of buyer they are dealing with, which is accomplished through a series of questions. Moreover, the salesperson must aggressively manage their time to ensure they are investing in qualified prospects.