Sellers aren't always concerned about weeding out bad fit buyers. However, in a consultative sale, the conversation between both parties is as much an interview of the buyer as it is of the seller.
Have you ever heard of the phrase, “Not all money is good money?”
The fact is, not every buyer is the right fit for your solution. Why should you waste time chasing an unproductive lead or working alongside a buyer that can't meet you half-way?
In the world of inbound sales, qualifying buyers is a normal part of the process.
If your buyer doesn't see the value of your product, or implement it correctly, it'll reflect poorly on you and your company!
Luckily, there's a few tell-tale signs that can help you determine whether your prospect is a bad fit.
Buyer Objections Can Help Sellers Determine Fit
All month long, we've been writing and talking about why objections are opportunities.
Although you have the ability to overturn objections and use them to position yourself as the ultimate solution-provider, sometimes objections reveal that your prospect might not be the right fit for your solution.
Now, there are obvious signs that reveal whether a buyer is a good or bad fit:
- Sales territory, company size, company revenue, or location
- Behavior and communication, willingness to change
- Position, resources, support
Similarly, objections like “It's not a priority” or “I don't think we really need it” also reveal that the buyer doesn't feel an urgency to buy nor do they think they even have a problem you could solve!
As a seller, you'll have to do more legwork to overcome those objections. This might lead you to realize that the buyer is just not the right fit for your solution.
3 Techniques to Weed Out Bad Fit Buyers
As a sales leader, you can weed out bad fit buyers from the very start of the sales cycle.
Here are 3 techniques you can use to clean out your pipeline and find better fits:
1. Always Ask for Feedback
Be up front with your prospect from the very beginning.
Here's an example of a question you should ask:
“Would you let me know if it sounds like I’m presenting a solution that doesn’t meet your needs?”
This example serves the dual purpose of communicating respect to your buyer and giving them an opportunity to say “no” before you get too far down the rabbit hole.
2. Identify Your Ideal Buyer
In other words, know your prospect.
You should do enough research on your buyer persona to know with reasonable certainty whether a prospect is a good fit for your business.
At the very least, know the right questions to ask to determine fit.
In addition, analyze your best customers and list out their attributes. Make a baseline for a good fit—not meeting these criteria puts your prospect on the “bad fit” list.
3. Ask the Right Questions
As a seller, if you’re not certain of fit, ask tough, pointed questions aimed at disqualifying your buyer.
Remember, a disqualification is not the same as a lost opportunity—it helps you clean out your pipeline to make room for more viable opportunities.
At Criteria for Success, we’re interested in developing long-term partnerships with our clients. So, if a prospect indicates they’re looking for a one-and-done solution, it tips the scales for us in favor of disqualification.
Additionally, you'll want to make sure you ask the right open-ended questions. Expressing a genuine curiosity in your prospect’s needs (rather than forcing your solution) will help you identify a good fit.