Overcoming the Obstacles
Overcoming the Obstacles in arriving at the financial investment and the final step to produce a qualified lead!
Customer Relationship Management category interest
The first blog of this series, Placing Pillows, discussed the importance of building a solid relationship with your prospect by laying pillows to make them comfortable in discussing their remodeling project with you. The second blog, Show Me the Money, discussed how to arrive at the prospect’s financial investment for the project. In this final installment, we’ll discuss Overcoming the Obstacles in arriving at that financial investment and finally Producing a Qualified Lead!
There are two common answers when discussing the financial investment. The first is “I don’t know”. Before asking the financial investment question, we should have already reviewed the project, but now it’s time to go into more detail; “You mentioned you would like granite countertops, correct?” Once you have pointed out some major products and the cost of them, ask this... “Would it be ok if I shared with you what some projects we have already completed like yours and the investment amount of them?” Remember, sharing another project investment amount is fine, but always keep in mind and be sure to relay this to the prospect, “we are just using this as a guide, your home and project is unique to your home and I would not want to compare, we just would like to give you a good idea of another home’s investment amount”.
The second common answer is “I’m Not Sharing”. Be very, very careful when a prospect does not want to share! This is typically because we did not lay enough “pillows” in the beginning of the conversation. We didn’t take the time to find the real pain and solve the problem!
The Solution:
- Do not attack, Do not clam up (just like a dog can smell fear, so can your prospect!)
- Ask to speak “Off the record”, this way they don’t feel obligated to commit to any number they give you and will be more inclined to share the number they have in mind.
- Be gentle! More bonding (i.e. pillows) are needed now!
- When they give you a range, work within it, rehash again what they wanted, and find a solution!
- If they still do not budge, they are looking for free advice, free consult time, free estimate!
Producing a Qualified Prospect!
By this time, you should know whether or not this prospect is a good match for your company.
- A real remodeling or building problem is present and has been defined in the initial call
- The real financial investment to solve their problem has been established and recorded
- The prospect is prepared for what will happen at the initial meeting in their home:
o The discussion of the initial phone call will be reviewed
o The project or area where the new potential project is being done will be reviewed in more detail
o That a Design Agreement will be presented for their review before any real numbers are discussed.
As simple as this may sound, many salespeople go into each meeting unprepared and not in control of what will happen next. Initially, we must set up the expectations and begin the process of the homeowner working into OUR system and keeping ourselves in control of the process!
With all that being said, your company may not always be the solution and that’s ok! Remember one of our previous blogs entitled; When is the last time you reached out?, where our client followed up with a prospect and found out they decided to go with another contractor? The prospect ended up taking our client to lunch as a thank you for all the work they put into the proposal. They may not have gotten this job, but who knows! They may end up getting a better referral later down the line as a result of their professionalism!
Always offer a solution to their problem, even if it means sending them to the big box store or another company down the street. As long as you’ve laid enough pillows to make them feel comfy and established a good, working rapport, you can never go wrong and they may end up thanking andamp; rewarding you in the end!
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