Evaluating B-A-D-A-S Questions to determine outcome – A=Ability to Buy
For home furnishings showroom sales professionals and sales leaders everywhere
This is a tough question to ask as a qualifying question. It’s not the same as ‘check or wire transfer?’ that you would ask as a closing question.
Budget is about expectation of what it will cost. Ability to buy is about what they are able to spend, as in cash or credit worthiness. Both questions are about the money, but this one is about what they have to spend to get what they want.
So, how do you find this out as a qualifying question? I find it’s helpful to glove it with other services: “What we do here at X Gallery is……” and then itemize your services: design services, delivery and installation services, CAD services…and include financing services or terms of payment. Then ask if they would like to learn more about any of those.
At this time of year (March/April), retail customers are anticipating tax returns which may serve to fund the majority of the purchase…so they may not be able to buy until they receive their returns. For designer end-users, this may be the same. Or it may be about access to funds or wire transfer fees. For trade showroom salespeople, it may be to understand how the designer purchases and puts deposits down (checks from clients that need to clear the account before they can purchase or if they have an ‘escrow’ account with the client from which to write deposits). In any case, it’s up to the seller to determine how they are going to finance the purchase, as it’s one of the BADAS questions that determine whether or not a sale can happen TODAY.
Or it may be a good idea to link the Budget and the Ability to Buy questions together to talk about all aspects of the money – expectation, available assets, financing, deposit amounts and timeframes, COD amounts, shipping and installation, product protection costs….all of it.
Because they believe that the sofa is worth $7500 doesn’t mean that they HAVE that to spend on the sofa.
I would love to hear how you address this. Or how you avoid it. Or how you manage it when it comes up if you haven’t brought it up. Or anything else you would like to share about this (or any of the other BADAS questions) that have helped you to determine if the buyer can buy NOW.
Now, go sell something!
Love, love, love,