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| Home > Grow Your Business > Turn Time Into Money |
| Turn Time Into Money | Print Page |
Nowhere more than in remodeling, does time mean money. Avoid wasting precious time by spending a small amount of time up front to pre-qualify the prospect in the very first contact.
Use initial phone conversations to qualify leads.
Don't rush prospects off the telephone. Spend 10-20 minutes or more with them depending on the size of the job.
Small projects like a door replacement take very little pre-qualification to decide on the value of the lead. A large, complex addition may require more time.
Seven key probes.
Whatever time you spend with the prospect be sure to ask about the:
1. lead source
2. job type, size and scope
3. prospect’s sense of urgency
4. budget
5. prospect’s knowledge level
6. identity of decision makers
7. prospect’s remodeling experience
1. Lead source.
Probe: “How did you hear about our company?”
The answer to this question will tell you:
2. Job type, size and scope.
Probe: “Tell me about your project.”
If you specialize in custom additions and the prospect wants a small bathroom update, the job may not be worth your investment.
That's for you to decide based on workload, source of the lead and numerous other ingredients. But without knowing the scope of the job, you're working blind.
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3. Sense of urgency.
Probe: “When would you like to be able to use your new master bedroom (bath, kitchen, etc.)?”
The answer to this question will give you an idea of:
If your schedule is too crowded to permit you to match their wishes, you can explain it to them early in the process and convince them to wait for your schedule to open up.
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4. Budget.
Probe: "Do you have a investment range in mind?"
Knowing whether a prospect has a realistic idea of a project's budget is key to your success.
If they don't have a budget range in mind, probe further with examples from your experience to find out if they're "real" prospects or not.
Probe: "In the last year, we've remodeled six kitchens. The investments ranged from $10,000 to $50,000. Does your budget fit in that range?"
If the prospect is gasping for air on the other end of the telephone line, he might not be the best one you've had in awhile.
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5. Knowledge level.
Probe: “How much research have you done so far?”
The more people know about the process of remodeling, the clearer their expectations will become. People with realistic expectations about the process are the best kinds of clients. They'll be less easily swayed by price alone.
6. Decision makers.
Probe: “Besides yourself, will anyone else be involved in making decisions concerning the project?”
For the best chance of successfully closing the sale, the decision maker(s) should be present and ready to discuss the project. This phrasing of the question is politically correct. In today's society, don't ask, "Will your husband (or wife) be involved?" because you might inadvertently annoy someone.
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7. Remodeling experience.
Probe: Have you ever remodeled before?
If a prospect has remodeled before, was it a pleasant or unpleasant experience? If they claim that everything went well, ask why they're not using the same company again. If the experience was awful, find out what went wrong so that you can explain how you'll make sure the same things don't happen this time. This could be an important selling point.
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Putting this information to work for you.
Many companies have created lead forms that guide them through these important areas. Such forms act as "crib sheets" or reminders not to skip over pertinent questions.
Turning away poor leads.
If you ever decide you don't want a lead, be professional about how you turn them away:
Pre-qualifying prospects saves you time and money.
Pre-qualifying your prospects can tell you a great deal about the type of people you're attracting to your company--and help you use your time to produce the greatest possible results and profits.