04/30/2024 | Press release | Distributed by Public on 04/30/2024 08:06
All reps enter sales conversations with the same goals. They want to learn about the prospect, tailor the pitch to their needs, and put them on a path toward closing a deal. So why do some reps consistently succeed while others fail?
Ultimately, a rep's success during sales conversations hinges on the questions they ask - not just what they ask for, but how they ask for it.
In order to consistently secure the information you need to convert prospects into customers, you need to make sure you're asking high-gain questions. This article gives you everything you need to know.
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What are high-gain questions?
As the name suggests, a high-gain question is one that seeks to gain the most valuable information from a prospect as efficiently as possible. High-gain questions are thought-provoking, getting the prospect to think deeply about their business, pain points, purchasing decisions, and potential solutions.
While this sounds a lot like an open-ended question, there's a key distinction - efficiency.
Open-ended questions are effective because they keep the conversation moving and create a smooth dialogue rather than a stilted back-and-forth. But simply asking open-ended questions isn't enough. A pleasant two-way dialogue can be a meandering time-waster if the open-ended questions used to spark that dialogue lack purpose and direction.
High-gain questions are a sales rep's best friend because they're open-ended in nature, but strategically timed and structured so that the prospect provides the most valuable information in the shortest amount of time.
High-gain questions vs. dead-end questions
A high-gain question should never result in a "yes" or "no" answer, as its purpose is to get the prospect to explain or elaborate on specific details that are relevant to an eventual purchase decision. Dead-end questions do the opposite: They typically elicit "yes" or "no" answers, or answers that are simple, declarative, and don't naturally move the conversation forward.
Dead-end questions usually start with words like "Do," "Does," "Are," or "Is." For example: "Does this fall into your budget range?" or "Is this tool something your team is looking for?"
These types of questions aren't without value; particularly at the end of a sales conversation, it's important to ask a few brief, straightforward questions to confirm important details, address lingering concerns, and make sure both parties are aligned on next steps.
But when asked at the wrong time, dead-end questions can stifle the conversation before it really gets going - or worse, make the prospect feel like the sales rep is being too pushy, manipulating them, or rushing the conversation to secure a sale as fast as possible.
There's a proper time for all types of sales questions, even dead-end questions. But a sales conversation can only succeed if the sales rep is asking the right high-gain questions at the right time.
8 types of high-gain questions to close more deals
There are many types of high-gain questions. Each of these captures information that a sales rep needs to understand the prospect, pitch their product, and close a deal as efficiently as possible.
1. Decision-maker magnets
Many sales conversations suffer stops and starts because the sales rep is either speaking to the wrong person or hasn't included all of the essential stakeholders in the conversation. Decision-maker magnets are questions that help you locate the right contacts and get them on the phone:
The number of decision-maker magnets you ask will depend on who you're speaking to and how you get in contact with them. If you quickly confirm that you're talking to a primary decision-maker who wants to learn about your product, great! You can move the conversation forward. If there are additional stakeholders you'll need to speak with, talk through a plan to get them on the phone.
2. Door-openers
Door-opening questions are typically used by reps during cold calls to demonstrate interest and quickly identify ways to keep a prospect engaged in the conversation - even when the outreach was unprompted.
People often bristle at the idea of accepting a cold call and, for this reason, it can be difficult to get cold calling right. But the right high-gain questions can get you in the door and in front of an engaged audience faster.
The goal of a cold call is to both qualify and understand the needs of the person you're speaking with. You want to make sure you speak to the right person and that their needs are aligned with your solution. High-gain questions give you a way to gather information in potentially uncomfortable situations. Instead of a cold pitch, high-gain questions allow for a conversation.
3. Pain point identifiers
Uncovering the prospect's pain points is one of the most crucial steps in any sales conversation. When you know the problems that are hindering a prospect's success - and the consequences of leaving those problems unsolved - you gain an advantage over competitors who don't.
Ask these high-gain questions so you can steer the rest of the conversation in the right direction, focusing on the prospect's specific needs and omitting irrelevant details:
Beyond gathering information, these paint point identifiers also help to establish a rapport and build trust. Discuss pain points on a personal level and you'll have an easier time getting transparent answers to all your future questions.
4. Timeline questions
Establishing a timeline is an essential part of any successful deal, which is why most mutual action plans focus heavily on timeline creation and expectation-setting. When speaking with a prospect, ask the following high-gain questions to arrive at a mutually agreed-upon timeline more efficiently:
If the prospect struggles to provide you with a firm timeline, provide them with a suggested timeline based on past deals so that you can arrive at a rough estimate. And if their proposed timeline doesn't align with yours, brainstorm steps you could take together in order to meet somewhere in the middle.
5. Competitive assessment
It's important to understand whether your solution is the only one the prospect is considering, or if they've already researched, contacted, or met with any of your competitors. The last thing you want is to get close to closing a deal only to have the rug pulled out from under you when the prospect chooses a competitor you weren't even aware they were talking to.
Knowing who you're up against will help you tailor conversations to give yourself a competitive advantage. If the prospect is looking at another provider, you might emphasize the benefits and capabilities your solution offers that the competitor does not. Here's a closer look at possible questions:
When asking these questions, make sure to use a calm tone and refrain from pushing too hard on details the prospect seems unwilling to share. Your goal is to assess your competition without sounding defensive, dismissive, or judgmental.
6. Objection predictors
Countless sales reps have finished a conversation with a prospect and believed a deal was a foregone conclusion - only for unexpected roadblocks to pop up later and stall the deal or ruin it entirely.
Ask the following questions once you've built a rapport with the prospect and outlined most of the key steps of the deal. That way, the prospect will understand enough to be able to look ahead and consider what realistic hurdles might appear following this conversation.
Of course, asking these questions doesn't entirely remove the risk of an objection appearing down the road. But, by allowing the prospect to stop and consider all possible scenarios, you'll likely uncover some potential objections and strategize ways to avoid them.
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7. Sentiment gaugers
During any sales conversation, remember to stop and gauge the prospect's feelings about your solution - not just once or twice, but repeatedly throughout the conversation.
Feelings can change quickly, and a prospect who was excited about your solution might be apprehensive or skeptical minutes later. Think of these questions as checkpoints to spread throughout the conversation so you always know how the prospect is reacting.
Return to these high-gain questions after you've just gone over consequential information related to your product's capabilities, the pain points it can solve, timelines, and money. During complex buying cycles, a single detail can sway the prospect's emotions. You want to recognize the change soon after it occurs so you can capitalize on positive sentiments and alleviate negative ones.
8. Money/budget questions
You can't truly know if a prospect is qualified until you know whether or not they can afford your product and are willing to spend your asking price. And every sales rep fears the moment their manager asks them about a prospect's budget and they have to respond with: "I don't know," "They're not sure," or "They wouldn't tell me."
Asking about budget can be extraordinarily easy or frustratingly difficult depending on the prospect in question. The following list of high-gain questions covers different methods for asking about budget, depending on the prospect's transparency and comfort level with sharing these details.
There's also that all-important question: When should you bring up budget? Despite what many will tell you, there's no one-size-fits-all answer to that question.
If a prospect is very transparent, seems eager to move forward with you, and responds favorably to the information you provide, it's acceptable and even beneficial to mention budgets earlier on in the conversation - as they're likely waiting for you to do.
The benefit of having pricing conversations earlier in the sales cycle is that it allows you to save time disqualifying organizations that may never have the resources to pay for your product.
But, if your prospect seems guarded, skeptical, or on the fence about purchasing, mentioning budget too soon might scare them off before they're even sure how they feel about your solution.
Here's a good rule of thumb: Make sure the prospect understands the value your solution will provide before they have to consider what they'll pay for it.
If you fail to communicate value, your prospects won't be willing to spend money on your product or service. Conversely, if they understand the problems you solve and how it impacts them, they'll view you more as a partner and the purchase as a mutually beneficial deal - and talking budget will get a whole lot easier.
Master the art of high-gain questions to make sales conversations more impactful
Every sales conversation isn't going to go as smoothly as you want it to. The unpredictability of sales is precisely why it's so important to perfect the details that are in your control. Mastering the art of asking high-gain questions is a surefire way to have more valuable sales conversations, gather the right information faster, and excite the prospect about your offering.