Fact Finding: 4 Mistakes That Cost You Money

Fact Finding: 4 Mistakes That Cost You Money

Fact finding, determining needs, qualifying, understanding the buyer, buyer motivations.  It’s the 2020.  The Wright Brother’s left the ground in 1903.  Since then, man has advanced more than in the last 2000 years leading up to 1903.

Yet no matter how advanced and sophisticated we have become, we still have a very primitive and reactive brain.   This is the side of the brain you’re probably talking to in the early stages of a sales call.  Grant Cardone will tell you that asking the right questions when fact finding is vital to moving the process forward.

Here are the 4 Biggest Fact Finding Mistakes Salespeople Make when asking questions:

1. You just don’t ask.  You don’t take the time to determine what’s important and why the buyer is here with you today.  What exactly are they looking for, and what do they not want to repeat?
2. You ask questions and don’t get answers.  Grant Cardone sees salespeople do this constantly.  They introduce themselves , ask for the customers name and never get it.  You have to get an answer to a question.  “What do you like about your present situation?”  If they don’t answer, ask again.  Get an answer!
3. You don’t ask questions that are relevant.  This is a mistake, you want to be relevant in the questions you ask.  They need to make sense, they need to segue, they need to somehow bridge between what the customer is interested in and asking about, maybe objections they’re having and segue, bridge, connect with relevant questions.
4. You ask bad questions.  The questions you’re asking offend people.  Questions like:  Are you gonna buy to if the price is right?  If I come out there will you commit?  Am I gonna be wasting my time if I come out there?  What’s it gonna take to earn your business?    If I could would you?  How much do you want to spend?  What’s your budget?

Your customers are showing up guarded.

They are trained not to give too much.  They have a bad perception of salespeople and consider that they may have already had a bad experience or were manipulated by a less ethical salesperson in the past and now they will resist answering your fact finding questions.

This is why the right attitude is critical to your survival and success.  You must present an attitude of service not just control.  You want to be of service and help people.  Not manipulate.  This is how you get questions answered.

You don’t want to make these fact finding mistakes, rather you want to put your buyer at ease so they will answer the questions you ask.

This is another reason why having a dedicated sales process is so important.   A dedicated consistent sales process can improve forecast accuracy 200%.

Asking the right questions and not making these fact finding mistakes is what will differentiate you and your staff from your competitors.  Show your buyer you care more with your fact finding.  You have to be different than the competition.  Asking the wrong fact finding questions will only turn off the buyer.

It is also important to know the right fact finding questions so well you don’t need to think about them.  You don’t want your attention on what am I going to say next, rather you want your attention on listening to the answers so you can better present your product and help your buyer solve their problem.