Sales POP - Purveyors of Propserity
Sales Strategies: Levels of Opportunity Evaluation
Blog / For Sales Pros / Jan 11, 2014 / Posted by Nikolaus Kimla / 10135

Sales Strategies: Levels of Opportunity Evaluation

In recent years, opportunity evaluation within sales strategies has been being given a prime level of importance. The reasons for this may or may not seem obvious, but for anyone that has gotten halfway through a sales cycle and had it fall apart, it starts becoming clear that the more fully an opportunity is evaluated, the better the chances of it going all the way to a close.

But there are different hats worn within a sales force. There is the “farmer,” who seeks out and qualifies leads. There are inside sales reps who work lukewarm leads to make them hot before forwarding onto sales reps. There are also the reps themselves, who cultivate opportunities and go for the close. Some sales forces have the expert closers, that come in only when the sales rep can’t seem to bring it all the way home. For each of these, evaluation of an opportunity has its own level of detail.

Importance of opportunity evaluation in sales strategiesThe Front End

At the front end of the pipeline at the lead generation stage, the primary elements of information consist of knowing that a prospect company is in the relevant industry, has a potential budget for making a purchase, and has some interest in your company’s product or service. The timeline for purchase may or may not have been determined at this point, and there is much left to find out. But a lead so qualified is usually good enough to be forwarded to an inside sales rep for further cultivation.

As the Lead is Nurtured

Many companies today engage a lead management strategy in which teams of inside sales reps nurture leads before sending them onto sales reps. This nurturing of leads leaves sales reps free to work opportunities that are actually qualified and nearer the ideal state of “ready to purchase.”

While that lead is being nurtured, the inside reps should of course gather further information as part of the opportunity evaluation process. At this stage it is good to know the target company’s buying process; when a budget might be approved for purchase if the company decides on your product or service; the event or situation that prompted the target company’s interest; what competitive products or services are being considered; and other details that will be useful to the salesperson that ultimately takes it over.

Evaluation by Sales Rep

When a salesperson receives a lead that has been “hotted up” by inside sales, there is further information the rep will want to gather. At this point motivation becomes key: what is the prime motivation that is compelling this company to purchase? For each of the decision makers, what is motivating them personally? How well does your product or service fit in with the target company’s strategy?

It is also advantageous for the rep to look deeper into the buying process. In addition to the “official” decision makers, who else might influence the purchase? With whom (besides the primary contact) should the sales rep connect directly, if possible and if needed?

The competitive landscape should be fully scoped out as well. Are one or more of your competing products or services being evaluated alongside yours? Has your target company dealt with your competitors in the past, and does a competitor already have an established relationship? What is known about potential competitors’ strategy, so that it can be countered when needed or even in advance if possible?

As the sales rep continues this qualification process all the way along the line, the chances of the close become greater. This activity is vital to all sales strategies.

Importance of CRM Solution in Opportunity Evaluation

For each of these levels of opportunity evaluation, a leading-edge CRM solution is a must. Only when every member of the sales force can rapidly access crucial information about a sale, quickly understand where it is in the sales process, and be able to utilize CRM to move it to the next stage, can opportunity management be fully engaged.

All sales strategies should include these various levels of opportunity evaluation. Know before you go—and win a higher percentage of closed sales.

Get your free trial of Pipeliner CRM now.

About Author

CEO and partner of pipelinersales.com and the uptime ITechnologies, which I founded in 1994 and has since played a significant role in the development of the IT-environment. pipeliner is the most innovative sales CRM management solution on the market. Pipeliner was designed by sales professionals for sales professionals and helps close the gap between the requirements of C-level executives for transparency and the day-to-day operational needs of field and inside sales. I am also the founder and Initiator of the independent economic platform GO-AHEAD!, which orientates itself on the principles of a free marketplace in terms of liberal and social responsibility. Connecting people, the trust of business leadership in terms of values such as freedom, self-responsibility, and entrepreneurial spirit, and strengthening their awareness in order to create a dynamic boost within the economy triggered through spontaneity, all stand for the initial ideas surrounding GO-AHEAD! I studied in Los Angeles and Vienna and received my Masters's Degree in 1994. I am married and have 3 children My Specialties are in: Sales Management, Sales CRM Software, CRM Cloud Solutions, SAAS, Business Strategy, Software Development, "Pipeline Management", Social responsibility, outbound sales, b2b sales, inside sales, sales strategy, lead generation, sales process, entrepreneurship, coaching, mentoring, speaker, opportunity management, lead management, Austrian School of Economics

Author's Publications on Amazon

This is a practical manual covering the vital subject of Sales Management. I firmly believe that sales are the most important profession for dealing with today’s turbulent world and Econo my, for salespeople create wealth and produce peace. But salespeople need a competent, stable leader—and…
Buy on Amazon
Inside this eBook, you’ll discover a series of chapters dedicated to some of the most important areas facing sales today. From the sales process definition to measurement, lead generation, and proven sales techniques, this comprehensive eBook will provide you with the information you need to…
Buy on Amazon
A common term in sales today is EQ, which stands for “emotional I.Q.” It means the skill a salesperson has in reading emotions and utilizing them in sales. It means empathy and a number of other abilities. The short version is, it’s an I.Q. when…
Buy on Amazon
People are smart to question the future of automation, for it has become part of everything we do. With the quantity of applications and technology around us, we yet still crave more. We become convinced of its power when our package is delivered from Amazon…
Buy on Amazon
Sales management isn’t a simple subject by any means. But at the same time, it does have some basic and somewhat simple fundamentals—and that is what we are bringing to you with this book. First come pain points of sales management, and how to overcome…
Buy on Amazon
Today the Internet has transformed a seller's market into a buyer's market and author Nikolaus Kimla states that the role of sales has never been more crucial. It is now time to give salespeople the role they factually can play: entrepreneurs within the enterprise. They…
Buy on Amazon
This is our public declaration of the intentions behind Pipeliner, and our objectives and motives for the product and for our company. Behind the development of that CRM application and, in fact, behind everything we do, we have a real cause. The story begins with…
Buy on Amazon
For the future, there must be a perfect balance of humans and technology. You have to have the perfect technology, andthen the perfect human being in application, performance and presentation. Today and into the future, it’s a 50-50 balance. In the past it was perhaps…
Buy on Amazon
The salespreneur is based on the concept of the entrepreneur. Before we can explain the salespreneur, you have to have some understanding of the entrepreneur. The entrepreneur plays a crucial role in any economic system. The entrepreneur seeks out information that can be utilized for…
Buy on Amazon
A seasoned captain would never leave port without a competent navigator. In a similar way, a sales manager might be a total ace at "commanding the ship" – at inspiring and coaching sales reps, pointing out and getting agreement on making quotas, and keeping everyone's…
Buy on Amazon
..
..
..
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. For information on cookies and how you can disable them, visit our privacy and cookie policy.