Relationships are important in every sect of life – personal or professional. Businesses that offer a product or service are also building relationships with their customers and clients. But building relationships is not easy. All prospects are not going to result in a fruitful deal. It is necessary to make sure that a business follows the proper leads so that no time is wasted on unnecessary things. But which leads to follow – this remains to be a great question. Identifying the qualifying prospects is more than what we call necessary. An effective sales qualification plan helps to increase the chances of sealing a deal successfully. without the presence of a sales qualification plan, it is just running after prospects without little to no results.
Sales qualification framework
Some of the effective sales qualification frameworks are BANT, CHAMP, FAINT, ANUM, NEAT, GPCTBA, and meddic. While BANT stands for budget, authority, need, and time, challenges, money, authority, and priority are prioritized in CHAMP. FAINT focuses on the authority, funds, timing, and need of the leads while the focus is on need, urgency, money, and authority in case of ANUM. GPCTBA has a long list of plans, goals, timeline, challenges, budget, positive implications and negative consequences and NEAT has just economic impact, needs, authority, and timeline.
In this framework the points of focus are economic buyer, metrics, decision criteria, and process, identifying pain, and champion. It was pioneered by Jack Napoli in the 1990s. This framework helps a business with identifying and qualifying prospects. This framework is especially helpful for businesses selling expensive and complex products. It helps in evaluating the prospects thoroughly to choose the ones that qualify. With Meddpicc there is better chances of closing and make great use of the resources. As it performs as a checklist of information, it is a straightforward one among the sales qualification framework.