Mid-Stage Deal Reviews
/A reader writes, "When reviewing the prospects on my reps' sales forecasts, I ask questions like, "Who is the decision maker?" or "Which providers are we competing against?" Often, they don't have that critical information. This always leaves me surprised and frustrated. I've coached them repeatedly on asking questions to gain that type of data. How do I handle this?
Good job in asking probing questions. My suggestions for improving the situation may surprise you, though: when this occurs, some of the blame rests with the sales leader.
Early Stage Deals
Many sales leaders maximize their involvement at the beginning and the end of a potential sale. When the rep first enters a prospect into the CRM pipeline, there's great excitement. The salesperson has likely worked hard to get a foothold into this company. The possibilities for the deal, at least initially, seem limitless.
With both of you motivated to discuss it, you probably ask a lot of questions initially. But you don't expect the rep to have all the answers - just yet.
End Stage Deals
As the prospective deal works its way through the rep's pipeline and onto the forecast, sales leaders become more involved again. At this point, they expect reps to have certain answers. When the rep can't provide critical information, they have to question the validity and percentage chance of the sale closing.
The Middle
Unless asked to accompany the rep on a call or participate in a phone conversation with the account, many well-meaning sales leaders leave the rep alone when potential sales reach the middle of the sales cycle.
Reasons for this vary including: lack of time, desire to avoid micro-managing, or assuming reps can handle the deal during the mid-stages.
Sometimes, though, they aren't sure how to coach the rep during this part of the sales cycle.
Rep Interaction
What questions should you ask of the reps when prospective sales are at this stage - the kinds that get the answers you need before this deal makes its way onto the forecast?
Take a look at all of the reps deals in the mid-way point of the pipeline. During your next one-on-one with the salesperson ask the following in a conversational tone:
At this juncture, have you identified the decision maker?
If this is a group decision, have you identified all the group members?
Have you reached out to each one and introduced yourself?
Can you identify your sponsor within the group?
Which team members might be in favor of selecting another provider?
How does their buying process work?
What other vendors are being considered?
What are the chances they stay with their current vendor?
Do they have a selection date in mind?
Have you talked budgets in some detail?
Reps may have the answers to some / all / or none of these questions.
If the majority remains unanswered, keep the deal at the current pipeline stage (or move it a step or two back). Coach the rep to start getting the information necessary to move the deal forward. Role play with them until they feel comfortable.
Sales Forecasts
For a deal to make it onto the sales forecast, reps should be able to answer 100% of these questions - and a few I'm not mentioning here because I don't know anything about your particular company's product or service.
Don't wait for a sales forecast review to find out a rep lacks this essential information. Spend more time with them during the middle stages of deal development. In this way, you avoid most unwelcome surprises at the month's or quarter's end.
