Thursday, September 11, 2008

Be My Perfect Cash Cow (B.M.P.C.C.)

Sales trainer Dan Adams came up with this fun acronym as an account qualification tool. "It is a very simple reminder of the 5 key areas you must understand early in your selling process," says Adams. "When qualifying an opportunity, you need to ask questions which will provide valuable information to you regarding 5 key topic areas." Let's take a deeper look at each one:

B: What is the customer's BUDGET?
You must know how the customer will obtain the necessary funds to make this acquisition. Is the project budgeted? If it is not budgeted how can you be of assistance in the budgeting process? If it is already budgeted, is it approved? What is the budget? When does the budget expire? If the customer will purchase "off budget" what is the process that must occur? Will it be financed? Is it important to keep this acquisition off the balance sheet?

M: Who is the key decision MAKER?
Who is responsible for making the final decision? If it is a "group" decision, who are the group members and who has the power in the group? How have similar decisions in the past been made? Who will influence this decision? Who are the gatekeepers? Who are the users? Who will evaluate the decision from a technical standpoint? Do I have an internal coach? Who has the final authority to sign off on an investment of this size?

P: What is the customer's buying PROCESS?
You understand your own company's selling process; you must know that to keep your job. In order to be a true sales superstar, you must know your customer's buying process! You must know your client's compelling event. That is, exactly why, and by what date your customer must make this investment. If she does not have a compelling event, you must assist her in creating one.

C: Who are your COMPETITORS?
Who are the vendors under consideration by your customer? You must also discover the solutions your competitors are offering as well as the strategies they are using to compete against you.

C: What are your customer's decision-making CRITERIA?
You must know what is important to your customer. What are her key buying criteria? Once you have that information you then must determine the "rack and stack", or order of the criteria from most important to least important.

Dan Adams is an award-winning professional speaker, author, and consultant who draws upon more than 25 years of experience in the field of sales and marketing. Learn more at www.trusttriangleselling.com

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