Needs Analysis
This is something you never get a second chance to make, highlighting the importance of initial interactions.
What is a first impression?
According to Rain Group, rapport is the foundation for productive sales conversations and is equal to this plus connection.
What is trust?
This pillar focuses on understanding a prospect's reason for engaging with you.
What is the "WHY" pillar?
Lightspeed Insights transforms your data into these, according to the provided Q&A.
What are actionable insights?
The document mentions the importance of knowing these two things to prepare to listen.
What are the pricing and your promos?
According to the training, a proper needs analysis keeps prospects engaged and builds this.
What is trust?
The bootcamp suggests being this, as clients can sense when it's not genuine.
What is authentic?
The goal of the "Why" pillar is to get the prospect talking about this
What is their situation?
Lightspeed Insights uses these to help predict inventory needs.
What are detailed, visual reports and key metrics analysis?
This is the term used in the "Setting the table" section for the initial information shared with the prospect about the call.
What are the SDR notes?
The bootcamp explicitly states that needs analysis is NOT the time for this action related to a specific product.
What is pitching Lightspeed?
Finding this with a prospect, such as shared interests or goals, can help build rapport.
What is common ground or similarity?
This type of driver addresses operational needs of a prospect's business.
What are Business Drivers?
Lightspeed Insights can help simplify this process related to inventory
What is purchase ordering?
The "Icebreakers That Work" section aims to help sales representatives open conversations with this feeling.
What is confidence?
A key outcome of a good needs analysis is that it reveals this about the prospect's problem.
What is the real pain behind the problem?
The training encourages practicing this skill to build rapport.
What is active listening?
Uncovering these, along with business drivers, is the focus of the "Emotional & Business Drivers" pillar.
What are Emotional Drivers?
By using Lightspeed Insights, merchants can create draft versions of these directly from inventory reports.
What are Purchase Orders?
The document suggests preparing prospects for these before diving into more detailed questions.
What are the upcoming questions?
Identifying these can signal that your discovery efforts are not on the right track.
What are red flags?
Besides being authentic and friendly, this action, even if genuine, is mentioned as a tactic in the "Rapport Checklist".
What is giving genuine compliments?
Identifying these three key elements is the goal when exploring emotional and business drivers.
What are core needs, wants, and pain points?
Lightspeed Insights' forecasting for non-seasonal replenishment considers these two factors when suggesting order quantities.
What are past sales volumes and stockouts?
Value Statements directly link the benefits of product features to these.
What are each customer’s specific needs?