7.2   SALES OPPORTUNITY QUALIFICATION

Competition

Opportunity

Solution

Money

Objective

Need

Authority

Unique

Timescale

Size

Essential Module Cross Reference

TOTAL QUESTIONS: 72

REVEALED HERE: 11

Extensive amounts of time and money are frequently wasted in the pursuit of sales opportunities which either don't result in an order or, where an order is won, there is either a very low profit margin or an actual overall loss. Also, in many ‘lost order’ cases, the Supplier had little or no chance of winning the order in the first place.

Such financial losses and disappointments can so often be avoided by performing rigorous qualification to determine the chances of actually winning the order and also minimise the risks should an order be won to undertake work or to provide a service, people or product.

Various qualification questions are given below in ten separate groups. To make these easier to remember, the first letter of each group name is used to create the acronym COSMONAUTS.

As it is unlikely that you'll remember all the questions off by heart, COSMONAUTS should at least help you to remember the ten groups, which will then hopefully trigger some of the key questions. This is so important as qualification doesn't conveniently happen all in one go. It can be spread over several days or weeks, even months, and sometimes in an informal exchange with your Client when you haven't had the opportunity to prepare.

Please note that the word 'contract' is used to represent all types of sales opportunity/order (ie; individual assignment, project, service [inc outsourcing & facilities management], people placement, product, etc).

Also, the word 'Client' is used generically to represent both Clients and Prospects.

You will see that not all the questions are for the Client directly. Some of the information will already be held in the Account File &/or known by the Account Manager and some by people who have worked, or are currently working, for the Client in question. Other information may also be obtained from the Client's website, PR office, Annual Report & Accounts, etc.

Finally, you may wish to score the answers in each group and apply weightings according to your Company's view on importance, risk, etc. In any event, you should stop all further sales activity if you become concerned with the qualification outcomes to such an extent that they cannot be resolved to your satisfaction and therefore minimise the amount of time & money spent on an inappropriate sales opportunity.        

A sample of questions is given below and a further 61 are provided when the module is purchased.

Essential cross references to other key-related modules are also given to ensure watertight coverage of the Client.

Competition

• are they currently working for the Client, or done so previously?

  12 more available

Opportunity

• would the contract provide important new Client contacts/business knowledge?

  3 more available

Solution

• what are the strengths & weaknesses of your solution?

  9 more available 

Money

• are your cost estimates within the Client’s budget?

  5 more available

Objective

• what is your Company's reason for pursuing this contract (strategic, tactical, financial, idle resources, etc)?

  7 more available

Need

•  what are the consequences of the Client not going ahead with the contract

  5 more available

Authority

•  who are the influencers & decision makers; do you have access to them?

  8 more available

Unique

•  are any of your USPs in the Client's decision-making criteria?

  4 more available

Timescale

• can you realistically complete all the sales bid activities, in addition to what is to be delivered contractually, in the required timescales

  5 more available

Size

•  is the contract too big for your Company?

  3 more available
  

Please remember that qualification should continue throughout the sales process as circumstances & knowledge will be constantly changing on both 'sides'.

Essential Module Cross Reference

• Sales Propositions & Opportunities (7.1)

• Risk Management updates (10.1)

• Account Action Planning updates (5.1)

• Account Snapshot Summary/Account File updates (4.1, 4.2)

“INADEQUATE QUALIFICATION OF SALES OPPORTUNITIES WILL HAVE POTENTIALLY DISASTROUS FINANCIAL CONSEQUENCES & A VERY DAMAGING EFFECT ON MORALE”

ANOTHER 61 QUESTIONS AVAILABLE

75% PRICE DISCOUNT FOR LIMITED PERIOD

‘ASPIRE’ (How To Manage Any Client) ™
Account Management & Development
© Copyright 2019
All Rights Reserved