Finding Qualified Buyers
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.
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.
Posted by LW and Associates at 9/1/2009 8:09 AM 
Categories: Selling Strategies
Tags: price sensitive qualified buyers prospecting salespeople time management
Categories: Selling Strategies
Tags: price sensitive qualified buyers prospecting salespeople time management
yes nice points normally these two type of customer are deal.
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Thanks for the comment!
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The best business strategies must steer a course between the inevitable internal pressure for business continuity
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The best business strategies must steer a course between the inevitable internal pressure for business continuity
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In this highly competitive business world finding qualified buyers is very important. Any company can't afford to miss its target customers.
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Mass market marketing and product pushing are a thing of the past. Organizations have stepped up and are actually getting to know the customers that they are selling to. In turn, the exchange is more valuable for everyone. I agree that as a salesperson you must understand what questions to as in order to find those qualified buyers.
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