5 WAYS TO PINPOINT WORTHWHILE OPPORTUNITIES

When a salesperson is considering whether to spend time and resources pursuing an opportunity that may or may not come to pass, what it really comes down to is making a choice between chasing every opportunity and managing your territory like a business. This is why the salesperson, with their manager’s guidance, needs to do a thorough analysis of the opportunity as follows:

Ability to Deliver:
First, understand if your company has the ability to deliver a solution that satisfies the needs of the client:

• Are we able to deliver?
• Are my organization’s capabilities compatible with the customer’s needs?
• Will my products/capabilities satisfy these needs?

Cost of Sale:
Then, analyze the cost to capture and maintain the account:

• Is this opportunity worth the time?
• Will servicing this account allow sufficient time for me to work with other customers or prospects
• Will my organization be able to handle the demands resulting from this sale?

Relationship:
Review your relationship with the account:

• Is it positive?
• Have sound relationships with key players been established?
• Have buying roles, decision-making style, business goals and needs been uncovered and analyzed?
• Have strong negative influences been won over?
• Can you count on support from positive influences?

Value of Win:
And finally, ask yourself, Is this opportunity worth winning?

• Will the short-term revenues meet or exceed my account goals?
• Does this opportunity represent an acceptable return on investment?
• If the revenue is less than desired, will the prestige or strategic value associated with the account create other opportunities?

Salespeople must manage their territory as a business—able to assess the win-ability of an opportunity before committing expensive resources and wasting valuable time pursuing barren opportunities.