Sunday, March 1, 2009

Qualification, Qualification and Qualification

This is a mantra that I've held for many years. Where Real Estate preaches Position, Position, Postion the equivalent mantra for sales must be that the three most important things to remember for sales is Qualification, Qualification and Qualification.

So what does that mean? It means that you should not spend your time with those prospects that don't need your attention right now. It will become obvious when you think about it that you can still get it all wrong if you don't have some plan for the qualification. You need to know the criteria that allows you to see if a client fits you. Then you will be able to determine if you fit the client.

And this is not to say that you ditch a prospect just because they haven't called you back as persistence is still key. I sat in on a sales teleconference yesterday where the following statistics were given:
  • 2% of sales are made on the 1st contact
  • 3% of sales are made on the 2nd contact
  • 5% of sales are made on the 3rd contact
  • 10% of sales are made on the 4th contact
  • 80% of sales are made on or after the 5th contact <<== WOW

So if you have tried at least 5 times then at least you are not selling yourself short. Just make sure that you are qualifying the opportunity on the way through.

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