Qualifying for Budget & Decision-Making Process Flashcards

1
Q

The structure of a typical discovery call

A
  1. Bonding & Rapport
  2. Clear Agenda
  3. Pain/Compelling Event
  4. Budget
  5. Decision-Making Process
  6. Firm Future Commitment
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2
Q

Each step of the Discovery call structure has its own exit criteria.

A

Exit Criteria are the outcomes needed to ‘complete’ this step and move on to the next phase of the discovery call.

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3
Q

Definite Exit Criteria

A

Investment Acknowledged

  • We have budgeted $15,000
  • We can spend between $10,000 and $20,000
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4
Q

Possible Exit Criteria

A

Competition Identified

  • [Competitor] quoted us at [price].
  • That around what we’re currently spending on our current system.
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5
Q

SVIC

A
  • Summarize
  • Validate
  • Impact
  • Commitment
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6
Q

Summarize

A

Transition from pain, let them hear their words back, & demonstrate your Active Listening.

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7
Q

Validate

A

We confirm our summary, giving them the opportunity to add anything we may have missed.

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8
Q

Impact

A

We confirm the impact on the business/on them if the pain isn’t solved

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9
Q

Commitment

A

We tie back to what we closed pain with, reconfirming their commitment to fixing this and fixing it now.

“And you said you’re committed to fixing this…”
“And you mentioned this is your top priority for this month/quarter”

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10
Q

Follow this process (SVIC)

A

Use the following ‘SVIC’ structure to transition from discussing their goals/challenges/pain to discussing budget on your Discovery Calls.

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11
Q

Once you’ve completed SVIC, you can then complete the transition to budget with a question like…

A

“Does it make sense for us to talk about the level of investment you’d made to solve those challenges with HubSpot?”

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12
Q

What makes a prospect “qualified”?

A

For a prospect to be ‘qualified’ when it comes to decision, you must understand the process HubSpot needs to go through in order to get signed off and be willing to participate in it.

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13
Q

A few things you can research to prepare for a discovery are…

A
  1. Business Stage
  2. Business Model
  3. Business Structure
  4. Business Category
  5. Industry
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14
Q

Business Stage & Business Model

A
  • Is your customer a start-up, scale-up, or an established company?
  • In what way does this business make money? Do they provide services or distribute a product?
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15
Q

Business Structure & Business Category

A
  • How has the business set up its organization to best serve employees and customers
  • How is this company structured in the eyes of governments and regulators? Is it a for profit business? Non-profit or government entity?
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16
Q

Industry

A

What distinct group of enterprises does this business belong to?

17
Q

Standard Questions

A
  • “Why do you think your sales teams missed their targets?”
  • “How has your business changed in the past 6 months?”
18
Q

Better Questions

A
  • “What is the quality of the leads being handed to your sales team?”
  • “How has your close rate changed?”
  • “Where do your deals tend to fall off?”