globalsales

Hi all,

I am working at a company where we receive an overwhelming amount of enquiries,previously killing the sales team and our R&D department. We are an established product manufacturer and not a system integrator, and as a consequence, in 2015 we saw a hit rate of 1-5% on our quotes.

System integrators will therefore usually come to us to ask for any quotes and proposal for solutions. However as the requirements are varying, it is difficult to standardise our products and some tailoring have to be made.

We have therefore recently started screening incoming enquiries with regards to operational profile, history, fit, etc. to trying to increase the hit ratio.

I am curious if there is anyone out there doing the same thing and what your experience with this is. Are there eventually other alternatives? 

Cheers.

B

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jchacona
In my experience, there are few alternatives. If you're talking about inbound inquires, the best you can do is leverage the BTdoubleN that's mentioned on this site (http://moderntechsales.com/qualification). The best way to improve the conversion (hit) rate, is to better qualify customers so that your team can best prioritize these leads.
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NorCalTech
Hi B,

I want to make sure I understand your question correctly. You are currently receiving more inquiries than your sales team can handle and are working on a way to find the 'real business' within all of the inquiries? 

In other words, what are ways to weed out good from bad customer inquiries? 
"Do. Or do not. There is no try."
-Yoda, 
Jedi Master.
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globalsales

Hi NorCalTech,

Yes, that is correct. How to weed out good from bad customer inquiries.

Ofcourse there are a few things you can do by focus on checking the company adressed, customer history etc. We also see that certain one-off customers tend to place big orders, that are customers so far out on the Uknown scale that we never would find them by approaching them directly. 

Let's say we quote 100 million in products/projects, but maybe only 10 of these have a real essence, and only 2-5 million are realised . I would rather spend my time working the 10 million with a substance that we actually may receive, rather than fooling around chasing the remaining 90 million we don't get.

B

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NorCalTech
Hey B,

Ok great, thanks for clarifying. It sounds like you are on the right track as far as implementing a screening process, also known as 'qualification'. As jchacona mentioned, there is an introductory article posted on the main site (http://moderntechsales.com/qualification) which is a good starting point.

Additionally, there are more qualification questions popping up in this discussion: https://forum.moderntechsales.com/post/favorite-qualification-questions-8206635?trail=15#5

I've seen that as organizations evolve, they start building entire teams whose sole purpose is to 'qualify' customer inquiries. Then they pass the qualified business to the full time sellers. The idea is exactly as you mentioned, to find the good business hidden within the muck so you can focus your energies correctly. 

I hope this helps.
"Do. Or do not. There is no try."
-Yoda, 
Jedi Master.
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crushing_quota
B,

If you want more info or are curious to look into the idea of building a qualification team, check out the link I posted here: 
https://forum.moderntechsales.com/post/how-to-build-a-sales-development-team-the-right-way-8213966?pid=1293154353
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