Updated: Apr 26, 2019
You need to make sure you are fully qualifying each and every prospect you engage with before pitching. This will prevent waste of time, increase your chance of closing the project and give you the chance of focusing on what matters to you and the client.
I would actually suggest you to decline giving a demo or presentation without having clearly understood what your client is looking for. After all you are not in the “demo-giving business” and i suppose you would rather focus on motivated clients or crafting amazing XR content. You must know the following criteria about every lead before you set up a demo or appointment.
1) Influencers: Who are the influencers and decision makers? What is this person's role in the sales process? If he or she is an influencer, how much influence does he or she have, and when in the sales process does he or she wield it?
2) Competitors: Who are you competing against? Is their old supplier or vendor still in the mix? Are they also in XR or use a more traditional approach? What does your prospect like (or not) about your competitor's offer, and why? What is your unique advantage, and how important is it to your prospect?
3) Familiarity: What is the level of familiarity with XR and high tech products? Do they know what are the benefits and limitations of such technologies? Is the person you are talking to a visionary or more of an early adopter? Have they worked on similar projects in the past?
4) The dream: What problem are they trying to solve using XR? What are their specific buying motives? How are you going to frame your solution to fulfill that need? If you don't know what each prospect is looking for, then you won't know how to speak to him.
5) Objections: Why won't this prospect buy? What are their concerns or misconception when dealing with XR products or services? Once again, if you don't know what you are up against in terms of why the prospect might not choose you, then you won't know how to avoid or address these key, potentially dangerous, areas during the pitch.
6) Timelines: What is the decision process like? How long will it take? How many hoops do you need to jump through? How soon—or how long—is your prospect going to take to make a decision on this? Knowing this important detail gives you leverage over the close and lets you know when—and how often—to ask for the sale.
7) Budget: What is your prospect or client looking to spend for your product or service? Is your solution perceived as having enough value to justify that investment? If not, how can you build that?
These are the seven basic qualifiers that you need to know about every lead before you enter the closing area. Based on your experience and vertical there might be other important things to consider and i would strongly suggest you to make your own qualifying checklist to handle your qualifying conversation effectively. There may be more given your particular sale, and if so, you'd better create your own qualifying checklist and make sure that you know this information well in advance.