Qualify prospects to 4 criteria (“PUMA”)

50% of CMO’s cite “buyer’s power” and “speed of change” as the top volatile market dynamics. (Bulldog Solutions)

To sell effectively and meet customer needs, particularly when markets are volatile, sales executives and marketing professionals need to vet these 4 areas when qualifying prospects and customers.

1. Pain - quantify the pain in terms of what it "costs" the business: Risk, Compliance, lost revenue, inefficiencies, etc.

2. Urgency - what is the cost of 'doing nothing' over time? What do they consider competing alternatives?

3. Money - what is the value of the solution; what will they pay to make the pain go away?

4. Authority - who makes the decision?

The more you know about all four areas the better your chances of a deal.