So you have got a sales meeting lined up and are all excited about talking to your prospect and potentially closing the deal? Wait for a second… Things might not be that straight forward.
In this blog post, we review 5 kinds of customers you might encounter in a sales meeting and ways to identify them.
1) Serious Buyer:
This is your ideal prospect who has a real business need for your product or service. He is generally the decision maker who has the power to make a purchase decision or approve a budget quickly if he is convinced about the value proposition of your product. He is very professional and sounds interested from the very beginning of the meeting. He is very appreciative of your time and identifies next steps in the sales process to move things forward smoothly.
2) Window Shopper:
Window shoppers like your product or service and have a business need. They might be excited about the capabilities of your solution, but might not have the budget to buy your solution.
Window shoppers are people who scout actively for new products and services that can solve their business problem, but will never buy anything as they do not have the financial strength to invest in a solution which is beyond their budget.
Think of a college kid looking buy an iPhone. He loves the product and wants to buy it, but simply does not have the money to afford it.
3) Curious Explorer:
Curious explorers are people who have a lot of time at their disposal. They are probably well settled in their careers as a VP or a Director in a large company and making lots of money. They are bored of their monotonous job and want to beat their boredom by exploring new products or services available in their market. They are very keen to get insights into the latest trends in the market and upgrade their knowledge to become a better version of themselves.
They will accept any sales meeting request that comes their way and make your sales team conduct multiple product demos, share product literature and pricing information, but the end of the day they will never buy even if they have the budgets because their main intention was to just explore new products available in the market to upgrade their knowledge all the expense of the sales person’s time.
4) Time Waster:
These are people who exist just to waste a sales person’s time. They have no power and authority to make a purchase decision or the intellect to understand your company’s value proposition. These are agents who have been given a task of identifying new products or services that might solve their company’s business problem.
Someone in the senior management asked them to make a list of 10-15 vendors who can solve their current business problem and these rookies are just excited to talk to anyone with their new found power. Time wasters are junior people in the organization that lack the experience or skills to identify new solutions that might solve a business problem for their company.
They will make you travel to their office multiple times, share presentations, demos, product literature while seeming genuinely interested in helping you move the deal forward. But eventually after wasting a ton on money, time and energy, you realize that it is a wild goose chase and the deal will never close.
5) Trouble Maker:
Troublemakers are people with extremely high ego and think they know everything. They have reached a position of a Director or a VP in a large company after working hard for years and now want to get an ego boost by wielding their power and authority of a Buyer. They will belittle your product and be very unappreciative of your time. They will ask you to prove your worth by demanding things for free or little cost in the name of a trial or pilot project.
They want to feel good with the attention showered on them by the sales people and are extremely control oriented. They will be the first point out all the flaws in your product and tell you you’re your competitor’s products are better than yours.The deal might still close, but get ready to deal with a high maintenance and demanding customer who is bound to waste a lot of your time and energy.