MEDDPICC+RR Opportunity Qualification

***BREAKING NEWS***
The on-demand Outcome-Centric Selling Academy is now in public beta.
Sign up here to try the first two courses free for 14 days.

The Outcome-Centric Selling Blog

If you really want to shorten your sales cycle, slow down!

Posted by Bob Apollo on Wed 20-Feb-2019

If the conversations I’ve been having with sales leaders recently are anything to go by, our sales pipelines are full of opportunities that start off looking like they are going to end up in a quick sale, but then get stuck somewhere in the middle (or towards the end) of the process.

And if my observations accurately reflect the underlying reason, then it’s worth us reining in our sales people’s natural enthusiasm and helping them to recognise that they will be more effective in shortening their sales cycle by slowing down their initial interaction with the customer.

It’s a subject I’ve referred to before, but it’s worth returning to again. If our customer acknowledges a need that we know we can address, it’s a natural (but wrong) reaction for a sales person to want to explain how they have a “solution” for their customer’s problem.

This tendency to premature elaboration (and the associated temptation to demonstrate and propose our solution as soon as we can) may initially give the impression that the sales cycle is moving forwards, but it all-too-often simply stores up avoidable future delays...

Read More

Is your sales pipeline full of fatbergs?

Posted by Bob Apollo on Fri 11-Jan-2019

The sewer systems of of our towns and cities are struggling to cope with a phenomenon known as the “fatberg”. These fatbergs are formed by an unappetising combination of oil, grease, food waste and other materials that have no place in the system.

Unfortunately, as these fatbergs harden and grow, they cause obstructions that require specialist equipment to remove. The problem is largely avoidable, it’s obviously a pretty unappetising story, and you may wonder why I’m sharing it with you.

Something very similar is going on in many sales pipelines. They are clogged with so-called opportunities that haven’t moved for ages and are unlikely to close any time soon. And the longer you delay clearing them out, the harder it gets to remove them...

Read More

Why early engagement is critical to sales success

Posted by Bob Apollo on Tue 16-Oct-2018

The now increasingly discredited BANT (Budget, Authority, Need and Timeframe) approach to opportunity qualification discouraged sales people from pursuing opportunities unless there was a clearly defined project with an already established budget.

Now, if you’re selling low-value commodity-like solutions where there is little scope for differentiation on anything other than price and delivery, or if you are competing in tightly-regulated markets that seek to eliminate any chance of creativity, BANT may still offer a potential approach.

But in complex, high-value B2B sales – and particularly where the customer’s need is real but nascent or poorly-defined – the rigid application of BANT as an early-stage qualifier will cause you to eliminate or abandon opportunities just when you have the strongest chance to influence the prospect’s thinking.

This, surely, is madness...

Read More

Targeting your most valuable sales opportunities

Posted by Bob Apollo on Thu 27-Sep-2018

Many B2B sales and marketing organisations have an unfortunate habit of wasting huge amounts of time and energy pursuing "prospects" that are unlikely to ever become valuable customers, often because there is no common company-wide consensus about which opportunities everybody should be prioritising.

Allowing your organisation to treat every inbound opportunity equally - or encouraging them to respond to every RFP you receive - is agross misuse of valuable resources.

That's why defining, identifying and pro-actively targeting your most valuable opportunities is the essential foundation of any successful value selling initiative. These opportunities must satisfy three critical criteria: they must have the potential to buy something that you are offering, they must be willing to buy from your organisation, and the effort required to win their business must be worth it.

Read More

14 critical activities every sales person needs to master

Posted by Bob Apollo on Wed 27-Jun-2018

Whenever we attempt break down the key success factors in managing complex B2B sales opportunities, it soon becomes apparent that there are a number of critical activities that need to be mastered between the first contact with a potential customer and the conclusion of a successful sale.

And when we go on to compare the differences between our top sales people and their less-effective colleagues, it is usually equally obvious that the competence and skill with which they perform these critical activities has a profound impact on their outcomes.

Over many years, and following dozens of sales effectiveness assignments, I’ve identified 14 critical factors that seem to have a consistently important impact on sales success. I wonder how my experiences compare with yours?

Read More

Our prospects are qualifying us, too...

Posted by Bob Apollo on Thu 21-Jun-2018

Just as the discovery process is best thought of (and most effective) as a two-way exercise, so is the closely-related opportunity qualification process. We can think of qualification as one of the key outcomes of an effective discovery process.

Many sales people tend to behave as if qualification is something they do to rather than with a prospective customer, but we need to recognise that our prospect is also trying to qualify both the nature and seriousness of their problem and our credibility as a potential solution provider.

Just as top sales people have too much respect for their own time to waste it chasing poorly qualified “opportunities” that are either never likely to close or never likely to buy from us, our most valuable potential customers are also trying to qualify whether the problem is worth bothering about and whether we are a credible source of the necessary expertise.

Read More

12 key sales qualifiers

Posted by Bob Apollo on Thu 10-May-2018

Early, accurate qualification is critical to success in complex B2B sales. It allows us to identify the opportunities that we have a real chance of winning, and it allows us to quickly eliminate poorly qualified deals from our pipeline.

In my experience (and hopefully yours as well), one of the key factors that separates top performing sales people from the rest is that they have too much respect for their own time to waste it pursuing opportunities they are never likely to win.

They qualify hard, and they qualify early, while their less confident colleagues cling on to prospects that by any rational analysis are never likely to close - and waste a huge amount of their time (and that of their colleagues) in the process.

For years, the default mechanism for qualifying sales opportunities was BANT (Budget, Authority, Need and Timeframe) - but it is now so inadequate and inappropriate that I shudder when I hear of sales teams that are still using it. Here’s why...

Read More

Self-awareness and self-honesty in complex B2B sales

Posted by Bob Apollo on Wed 10-Jan-2018

Other than an appropriate level of product knowledge, what are the key attributes of a good B2B sales person? Interpersonal skills? Emotional intelligence? Business expertise? Curiosity? The ability to build rapport?

These are all critically important to modern B2B sales. I can’t imagine hiring anyone into a new sales role that didn’t exhibit these attributes to some degree or another, together with a commitment to continued self-improvement and personal development.

Hopefully, you feel the same way. But I want to highlight another couple of attributes that seem to me to be of central importance.

They are self-awareness coupled with self-honesty, and it’s hard to demonstrate one without the other. We don’t want our sales people fooling either themselves or us. But it’s not just a matter of encouraging these virtues. As sales leaders, we need to ensure that we do not unknowingly or unthinkingly suppress them…

Read More

Why having a budget isn’t always a positive qualifier …

Posted by Bob Apollo on Tue 28-Nov-2017

John Holland of CustomerCentric Selling® makes an interesting point in a blog article. Many sales people who have been brought up on an over-literal interpretation of BANT may believe that the absence of a budget for a project should be a reason to disqualify an opportunity.

This may be valid in simple transactional sales, but in complex high-value discretionary B2B purchases our interpretation of the apparent presence or absence of a budget needs to be much more nuanced. Firstly, it’s important to distinguish between a project-specific formal budget and a source of funds that can be reallocated from other priorities.

As John points out, if there is no clear source of funding, it’s almost certainly a sign that we are operating at too low a level and that our current contact does not have the authority or ability to act as a power sponsor. If a project is important enough, a power sponsor will always be able to find the money (by shifting it from another pot).

Counter-intuitively, if a project-specific project budget does already exist, it may be a sign (and a warning) that another vendor is already making the running, and that they may have set the prospect’s expectations not just in terms of cost, but also functionality.

Read More

Are your sales people hitting the accelerator too hard?

Posted by Bob Apollo on Tue 8-Aug-2017

There’s abundant evidence to show that when sales people rush the all-important discovery stage of a complex B2B sale they store up a bunch of problems for the latter stages of the sales cycle - and often find that that the deal ends up stalling or (to continue the motoring metaphor) that they spin off the road long before reaching the finish line of a successful sale.

It's clear that the old adage “more haste, less speed” applies just as strongly to selling as it does to many other aspects of our lives. When we look at what experienced, effective sales people do differently to their less productive peers, we see that they tend to move more deliberately and slowly during the early stages of the sale, and invest more time in deeply understanding the dynamics of the deal.

This has been borne out by a series of analytic assessments of sales performance: all other things being equal, a deliberate and thoughtful approach to discovery allows effective sales people to identify and eliminate poorly qualified opportunities early in the process, and to create the foundation for swifter progress through the remaining stages of well-qualified deals.

Read More