The Power of Power Questions
A master sales trainer once told me what distinguishes great business developers from those who are average is their ability to ask “power questions.”
What’s the definition of a power question? You know you’ve asked one when the person on the other side of the desk says, “That’s a great question,” or “That’s something I’ve never thought about.”
What’s so powerful about power questions is that clients recognize and appreciate the fact you’ve done your homework. It shows you care and differentiates you from many others seeking their business.
Power Questions Require Prep Work
Questions that get a “Wow, you’re good” response do not happen by luck or coincidence. If you wing it, it’s rare to get a positive response to a power question. You need to plan.
When I develop client questions, I think about three buckets:
Questions that are relevant to any firm in an industry
Questions that tie into challenges or growth goals of the firm I’m meeting with
Questions that allow me to compare my firm’s capabilities to those of my competitors (which may already have my prospect’s business)
How to Develop Power Questions
Industry trade associations and trade publications are ideal resources for understanding issues (positive and negative) facing firms in that industry. Do those issues align with your service capabilities? Are two or three industry issues relevant to most prospects you meet with?
A prospect’s website can be a treasure trove of insights into the firm’s business plans and results. I often find great intel in a company’s financial and press release sections. You get real-time perspectives on what the firm is doing, such as launching a new product, opening a new office, expanding overseas, hiring a new top executive or forming an industry partnership.
Create questions that align with your firm’s capabilities and should be explored more deeply. Prospect-specific questions should represent the largest share of questions asked.
If you’ve done a competitive audit with your major competitors, you’ve highlighted your unique capabilities, those of your competitors and then others you both share. Drilling into your firm’s unique capabilities can enlighten your prospects about services they need and their current vendors cannot provide.
Draft and Refine Your Questions
When you’ve completed your research phase, you’ll probably have a lengthy list of potential questions to ask. So, be realistic about how much time your prospect is willing to provide and how open they might be to questions about their business operations. As a result, think about prioritizing the questions based on importance to you and the client. It’s critical to get the most important questions asked first.
Strive to ask mostly open-ended questions instead of closed-ended (yes or no, multiple choice). When you’ve done extensive research, one of the things you want to do with your questions is to confirm what you’ve learned. This proves you’ve done your homework.
Far too often, people ask too many situational questions that they should already know the answer to. For example, asking a prospect how long they’ve been in business or where they’re located.
Use Pain Points to Inspire Power Questions
When you ask prospects about their potential problems/challenges, you can find their pain. A pain point could be a new and larger competitor entering the prospect’s market and they’re uncertain how to compete.
What motivates people to buy is to realize the implications of their pain. That larger competitor might be able to undercut their pricing, which could lead to account churn and marketplace confusion. Asking the buyer how that problem impacts their business, now or in the future, can cause them to consider new vendors — and even make a decision now, rather than delaying it.
Interested in a Pain Points Brainstorm Session?
Asking insightful and thought-provoking questions requires effort. However, the payoff is in building deeper relationships with your prospects and creating urgency to make a buying decision.
One aspect of my work as a consultant, mentor and coach for business development professionals who work for law firms and accounting practices includes helping people create power questions. If you could benefit from having a powerful conversation, let’s talk.