being in sales for over a decade has taught me a lot about what separates the real buyers from the tire-kickers.
It’s not just about being a great communicator or having a killer product demo.
It’s about recognizing those prospects who are genuinely ready to take the plunge and invest in your solution.
The Homework Test: Unmasking the Real Buyers
Think about it we’ve all been there.
You spend hours building rapport crafting compelling presentations and meticulously answering every question.
But then silence.
The prospect goes dark.
The deal falls apart.
It’s a frustrating dance and it’s a huge waste of valuable time and resources.
I remember a particularly disheartening experience a few years back.
I had a VP of Sales who was incredibly enthusiastic about our CRM solution.
He loved the features saw how it would address his team’s challenges and expressed a genuine desire for change.
I was pumped! But then the meetings started getting canceled the responses became evasive and the whole thing fizzled out.
Turns out his initial excitement didn’t translate to action. He lacked the commitment to actually implement the changes needed to make the CRM a success. I learned a valuable lesson that day: enthusiasm alone doesn’t make a deal.
This is where the “homework test” comes in.
The Power of “Homework” in Qualifying Prospects
I started thinking about how to differentiate those who were truly committed to change from those who were just paying lip service. The answer hit me like a ton of bricks: homework.
The idea is simple: give your prospects a taste of what it takes to actually use your product or service. This can be anything from a trial period a specific task within your platform or even a series of educational resources they need to consume. This isn’t about busywork it’s about providing value and gauging their true commitment.
For example if you’re selling a marketing automation platform ask your prospects to set up a simple campaign using your tool.
If they’re selling a CRM ask them to import a contact list and test out the features.
If they’re selling a content management system ask them to create a basic blog post or landing page.
This might sound intrusive but it’s actually a win-win.
Here’s why:
- Self-qualification: You’re empowering prospects to assess their fit and determine if your solution truly meets their needs. If they’re not willing to put in the effort it might be a sign they’re not ready to commit.
- Real-world experience: It provides prospects with a hands-on experience of your product which can help them make an informed decision. This reduces the risk of “buyer’s remorse” later on.
- Identifying true champions: Prospects who complete the homework are demonstrating a genuine commitment to change and are more likely to convert into loyal customers.
Crafting the Perfect Homework Assignment
Now let’s talk about crafting a homework assignment that’s both effective and engaging.
Here are some essential elements to consider:
1. Value-driven tasks: The homework should be meaningful and provide real value to the prospect. It should be something that helps them understand your product better and demonstrates how it can solve their specific problems.
2. Clear instructions and expectations: Don’t leave anything to guesswork. Be clear about what you want the prospect to do what the expected outcome is and how they should submit their work.
3. Time-bound deadlines: Establish a clear deadline for completing the homework. This creates a sense of urgency and encourages prospects to prioritize the task.
4. Follow-up and debriefing: Schedule a follow-up meeting or call to discuss the prospect’s experience with the homework. This allows you to address any questions gauge their understanding and determine if they’re ready to move forward.
How to Introduce the “Homework” Concept
The way you present the homework assignment can make all the difference.
Here’s what I recommend:
- Frame it as a collaborative process: Instead of saying “I need you to do this homework assignment” try saying something like “To ensure this solution is the right fit for your needs I recommend walking through a few steps in the software before our next call. Would you be interested in trying that out?”
- Highlight the value: Emphasize how the homework will benefit the prospect. For example “This will give you a better feel for the system and help you see how it can solve your specific challenges.”
- Offer support: Let your prospects know that you’re there to help them if they get stuck. Provide them with access to resources like tutorials FAQs or your own support team.
The Transformative Power of the Homework Test
By integrating this simple yet powerful “homework test” into your sales process you can dramatically increase your close rates and focus your efforts on prospects who are truly ready to buy.
Remember it’s not about weeding out the “bad” prospects; it’s about identifying the “best” prospects – those who are ready to commit and truly benefit from your solution.
So next time you’re facing a prospect who seems enthusiastic but unsure consider the “homework test.” It might just be the key to unlocking a new level of success in your sales journey.