In order to effectively score and qualify leads, every sales representative need to gather as much data as possible for picking up the right leads to focus on. Thus, for obtaining such information that helps to move lead down the funnel and highlighting the features of product/service that will solve customer’s pain points, sales reps use qualification frameworks (a set of qualifying questions).
In our previous two articles “Guide to Sales Qualification” and “Different types of sales”, we have already reviewed the importance of sales qualification and the most successful sales techniques BANT, SPIN and MEDDIC. Therefore, in this post, we will take a close look at two other best cold calling methods that enable companies to effectively and quickly score leads.
CHAMP is a sales technique that focuses on prospect’s challenges or so-called pain points.
- Challenge. Here you determine what the main pain points the prospect is facing are. By asking a question at this stage like “What are business challenges that you are dealing with right now?”, you will be able to gather necessary information and decide whether your product or service can solve their challenges.
- Authority. At this stage you must ask questions that help you to understand who the company’s decision-makers are. Once you get this information, your job as a sales rep is to reach them. The main question you can ask is “who is involved in decision-making process?”
- Money. It is a critical point in whole sales framework. You have to find out if prospect can afford your product or service in order to be able to sell to them. While asking a question like “Are you ready to invest in purchasing our solution?”, don’t forget to mention the average RIO for your product and remind why the investment is worth it.
- Prioritization. At the last stage, you have to understand how important and urgent the solution of the prospect’s pain point is. So ask your prospect “How important is solving this problem in comparison with other priorities?”
ANUM. It is an alternative technique to BANT. The key point here is to find out whether you are speaking to the decision-maker.
- Authority. The best cold call intro here is to identify if you talk to the right person and also fully understand a decision-making process, i.e. who signs a contract, authorizes it, who writes the PO (purchase order).
- Need. The purpose of the following point is to point out that your product/service is the best solution for prospect’s challenge.
- Urgency. Discover if the challenge is a high priority for the prospect.
- Money. Here you determine whether a prospect has the budget for purchasing your product or service.
Thus, in all 3 articles, we have reviewed the most popular sales techniques for better cold calling. They have some points in common, however, they differ in the approach to the opening statement. Therefore, by choosing the best sales tactic for cold calling, you have to take into consideration the sphere of your business, the interest of your prospect, what product or service you are selling and its price, etc. However, just implementing a certain methodology will not bring you desirable results and success. Only by combining a constant improvement and sufficient training, sale representatives will undoubtedly close more deals and increase company’s revenue.