Do you spend a lot of time pursuing opportunities, and they just don’t happen? Qualifying an opportunity to determine if you should put in the time and effort to pursue it is a critical success factor for improving your win rates. The more precise you are in qualifying an opportunity on the “front end,” the more likely you’ll be to win it on the “back end.”
Ask yourself three questions when a new opportunity comes up.
The first question is whether or not there actually is an opportunity to sell your product or service. Start by determining if there is a compelling event. A compelling event is defined in two ways: there is either a benefit associated with buying your product or service, or there is a consequence of not buying it.
Once you know that a compelling event exists, you then have to ask yourself if you have a competitive product or service. In other words, do you have a product or service with unique features or capabilities that differentiates you from your competition?
And finally, after successfully answering the first two questions, the third question is “Can we win?” Winning an opportunity requires that your product and service not only addresses all the formal decision criteria but also that you have relationships with the key people who will make the decision.
Take a moment to ask and answer these three questions when qualifying an opportunity, and you’ll most likely improve your win rates as a result.