The Pursuit Drill ™: Steps

The Pursuit Drill ™ is a three step process and analyses each opportunity on the following components:

• Qualification criteria – pursuing the right opportunities
• Strength of key decision stakeholder relationships
• Prospect's readiness to buy

Step 1:
Qualification criteria - How do you ensure that your teams are pursuing the right opportunities?

Basic qualification does not accurately determine whether or not a deal is closable.

Most company's qualification criteria focus on filling out a checklist of specs and requirements and rarely rule out any opportunities. Pipelines get filled with prospects that fit qualification checklists and are open to conversations, but may not be in a position to buy. Akina's Pursuit Drill ™ forces a hard look at deals in your pipeline to determine:

• Is there really a problem that needs to de solved?
• Do you have a solution that solves that problem?
• What competitors are in the door and how strong is your position?
• Why does the prospect need to act (buy) now?
• Do you have access to the decision makers, know the decision criteria and know the decision process?
• What are the prospects expectations on solving their problem? Are they realistic on how much it will cost, how long it will take to implement, and when they will receive value?
• What are your exposures to winning the business? Is the problem budgeted?

Step 2:
Strength of key decision stakeholder relationships - How do you ensure that you are meeting with the people who can drive the deal to closure?

Companies are still spending money today. However, what they buy, how they buy and who makes those decisions has changed. Many companies have not realized this shift and are talking to the same people (or same level) that have bought from them in the past.

When deals are not getting closed, sales people provide the following reasons:

• No budget
• Not a priority
• Not willing to change

If you hear these reasons, it is a clear indication that you:

• Are at the wrong person or level
• Have not proven the value of your offering to key stakeholders

Akina's Pursuit Drill ™ helps determine the depth and breadth of relationships needed to close the deal – and where you currently fall short. The drill focuses on:

• Who the key stakeholders are in the decision?
• How they currently stand in relation to the solution you have put on the table? (On-board, neutral, against, un-aware)
• Where do you need them to be?
• What is the plan to get them there?

Step 3:
Prospect's readiness to buy

Buyers unconsciously go through a mental checklist before they make a decision. In order for the buyer to say yes at the time of decision, he/she must firmly believe that:

• They have a problem that needs to be solved now
• They understand your solution and believe it will solve their problem
• The feel that the value of the solution(s) equals the price
• They believe in you and your company
• They have done enough due diligence

It's a fact that most people do not like to make decisions. Understanding where the buyer's mindset is and taking pro-active steps to make the decision a "no-brainer" will greatly increase closure rates (and speed up sales cycles). Akina's Pursuit Drill ™ helps determine where the buyer's mindset is and what needs to occur before the prospect is ready to choose your solution.

How to use the Pursuit Drill ™

The Pursuit Drill ™ should be done initially on all deals that:

• Are on the pipeline and targeted to close within the next 2 quarters.
• Require a decision on a commitment of corporate resources outside of the sales team.
• Require any special rates, enhancements, terms or conditions.

The Pursuit Drill ™ is a high value activity and should be run frequently (Weekly) once you have decided to pursue the opportunity.

A Pursuit Drill ™ exercise will identify several "red flags". ALL sales opportunities until the paperwork is signed and the solution delivered successfully) have red flags. The sales team lists the red flags and then creates a plan to eliminate them.

Once adopted successfully, Pursuit Drill ™ will shift the pursuit and closing activity of your sales organization from "re-active" to "pro-active". By being realistic (and conservative) of where you stand with a sales opportunity, you minimize the chances of getting complacent and out sold – or pursuing an opportunity that is un-closable.

Back to: The Pursuit Drill ™: Improve Your Sales Team’s Ability to Close Deals

Other Whitepapers:

• Technology Sales People – The New Success Profile
• Diagnosing Your Revenue Generation Issues
• Building a Client Service - Minded Staff
• High Impact Returns from Strategic Account Management
• How to Steer Your Firm to Greater Revenues when you're not in the Driver's Seat
• Sales Tip – Building credibility through "Discovery" Letters
• Selling to Multiple Decision Stakeholders
• Firm Leadership's Role in Retaining and Growing Clients
• The Pursuit Drill ™: Improve Your Sales Team's Ability to Close Deals

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