There Either is Money or There Isn’t

Most sellers are not good at doing one of the most basic tasks in sales: understanding whether there’s money or there isn't in for a specific prospect. It may seem obvious, even common sense, but deciding early on whether a prospect has the potential to buy is harder than it sounds.

At least 70% of sellers don't have that confidence. They will talk to someone even if there's no money there, simply because they're succeeding in talking to that person.

As a seller you need to be able to prospect, determine where the money is, and quickly decide if it's a good use of your time to be there.

It is an approach that is more like a marketing person than a salesperson. Because marketing people generate a lot of leads typically, and (hopefully) don't want you wasting your time on low value leads.

Be like Yoda. “Do, or do not. There is no try.”

Marketing people are often better at deciding whether there is money or there isn’t with a prospect. They segment leads based on scores and fit with the ideal customer profile (ICP).

Marketing people say “Don't waste your time on the low quality leads,” whereas the sales people say “Give me all the leads.” And they're basically going to talk to anyone who gives them positive feedback loops.

Marketing people are seeing a larger number of leads, so they understand: “Certain leads are a waste of time. You're not gonna make any money on them.”

But the sales people keep engaging because they can report that they're having conversations. You see the evil circle that goes on there.

Sellers need to learn to cut and run on a client who doesn't have a chance in hell at buying.

Marketing people generate lots of leads so they (should) know that many of the leads are junk.

The seller who only gets a few of the leads often tends to talk to anyone who will listen for as long as they will listen... as if the sheer act of being on the phone with a prospect is a win.

So sellers need to be a little more like marketing and cut and run faster when the buyer is clearly not buying, and the marketers need to be more like sellers and not consider everyone with an email address as a MQL.