Importance of Fact-Finding in Sales

How can you tell a lead you have a solution for them if you do not understand or know his/her problem or need? You will never learn about your potential customers’ needs/problems if you only focus on selling your products/services!

Often, you lose a lead or client only because:

  • You did not listen to them
  • You did not understand their needs
  • You spoke too much or did not talk much

One of the best ways to assess your probability of closing the sale is to listen and talk. If you do all the talking, your chances of closing are slim because you are viewed as a chatterbox. On the other hand, if you do not talk, your chances of closing are also very small. The balance between both lies in listening and conversing.

A good salesperson is in control of the conversation. However, you cannot control a conversation by doing most of the talking. The reality is “he who asks the questions controls the conversation.”

That is what Fact-Finding is all about!

Fact-finding is among one of the most significant aspects of the sales process! It consists of collecting information by asking the lead not only the right questions but asking those questions the right way. In that way, you will be control of the conversation.

Although fact-finding is not the holy grail that will close the sale, combining it with your other sales techniques will work wonders! 

A solid fact-finding tactic will help you understand what your prospect’s feelings are, what they want and how your product/services will help them get what they want.

Benefits of Fact-Finding

Incorporating fact-finding techniques into your sales process will help you:

  1. Determine your lead’s needs It will enable you to peep inside his/her mind and understand his/her needs and problems. From there, you can fine-tune your sales pitch and provide a solution that fits them.
  1. Design a tailor-made solution  Fact-finding will allow you to design a tailor-made solution for your customers. This is the core of professionalism and the secret to bigger sales, better closing results, repeat business and improved persistency. If you can learn this, you will leave the competition in the dirt.
  1. Identify how much your leads can afford Fact-finding will help you identify how much your lead can afford and is willing to spend. Knowing this will help you avoid and alleviate objections plus make a successful close more likely.
  1. Identify objections before they come up  During fact-finding, you usually unseal the issue that your lead feels strongly about – both positive and negative. Therefore, you will be able to predict objections and arm yourself with the information required to counteract the challenges before they even arise.
  1. Identify the lead’s main buying purpose  You need to know your leads have one or more main buying motives. Through fact-finding, you will be able to identify those motive(s).
  1. Build trust and loyalty Through fact-finding, you will be building a relationship with your leads. By asking what is important to him/her, he/she will feel you care. Remember that trust helps build commitment which results in a lifelong client.

Fact-Finding is All About the Customer

The most important thing to remember about fact-finding is that it is all about the customer! You need to listen carefully, pay attention and let the customer drive the process.

At Persuade, our team of experts knows all the sales techniques and strategies that help increase sales and revenues. We are always on-hand to help, call us today and let our professionals guide you towards success and growth.

Related tag:  Leads to Business

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