Sales qualification is a crucial step in the sales process that helps us understand the needs and readiness of potential customers. The RAMPACT framework (Requirement, Authority, Money, Priority, Action, Competition, Timing) provides a structured approach to qualifying leads effectively. In this exercise, we will practice applying the RAMPACT framework to a fictional sales scenario.
[ ] Ensure you apply the qualifying framework to each new deal in your CRM. Pin a note to the top of each deal that answers the sales qualification points.
There are, however, various sales qualification frameworks that each offer different perspectives and methods for assessing potential customers.
- ANUM: Authority, Need, Urgency, Money
- BANT: Budget, Authority, Need, Time-frame
- BMANTR: Budget, Method, Authority, Need, Timing, Risks, Roadblocks
- FAINT: Funding, Authority, Interest, Need, Timeframe
- MANDACCT: Money, Authority, Need, Decision criteria, delivery Ability, Competition, Coach, Timescale
- MEDDICCC: Metrics for ROI, Economic Buyer, Decision criteria, Decision process, Identify pain, Compelling event, Champion / Coach, Competition
- NEAT: Need, Economic impact, Authority, Timeline
- NUTCASE: Need, Unique, Timing, Cash, Authority, Solution, Enemies
- ORDER: Opportunity, Resources, Decision process, Exact solution, Relationships
- ProBANT: Procurement, Budget, Authority, Need, Time-frame
- RAMPACT: Requirement, Authority, Money, Priority, Action, Competition, Timing
- RSVP: right Relationships, winning Strategy, unique compelling Value, strong Process Alignment
- SCOTSMAN: Situation, Competition, Basis of Decision, Timescale, Solution, Money, Authority, Need
Scenario:You are a sales representative for a software company that offers a project management solution. You have identified a prospect who has expressed interest in improving their project management processes. Your goal is to qualify the prospect using the RAMPACT framework.
Requirement: Start the conversation by understanding the specific project management needs or problems the prospect is facing. Ask questions such as:
- What challenges are you currently experiencing with project management?
- What specific features or functionalities are you looking for in a project management solution?
Authority: Determine the decision-making authority of the prospect and identify the key stakeholders involved in the purchasing process:
- Who will be involved in the decision-making process for implementing a new project management solution?
- Are there any specific individuals or teams within your organization responsible for making purchasing decisions?
Money: Assess the prospect's budget and financial capacity to invest in your software:
- Have you allocated a budget for a project management solution?
- What is your budget range or constraints for this investment?
Priority: Evaluate where improving project management ranks in the prospect's list of priorities. Inquire about the level of urgency and importance:
- How high of a priority is improving project management for your organization?
- What impact would resolving these challenges have on your overall business goals?
Action: Gain clarity on the decision-making process, stakeholders involved, and timeline for implementation:
- What steps do you need to take internally to evaluate and implement a new project management solution?
- What is your expected timeline for making a decision and implementing the solution?
Competition: Understand the prospect's awareness of other project management solutions and their evaluation criteria:
- Are you currently considering or evaluating any other project management solutions?
- What factors are important to you when comparing different vendors or solutions?
Timing: Determine the prospect's desired timeline for implementation and their readiness to move forward:
- When would you ideally like to have a new project management solution in place?
- Are there any specific deadlines or events that are driving the need for a solution?
The RAMPACT framework provides a structured approach to qualifying leads and understanding their specific requirements, budget, priorities, decision-making process, competition, and timeline. By practising the RAMPACT framework, you will be able to have more insightful conversations with prospects and determine whether they are a good fit for your product or service. Remember to tailor your questions and conversation to each prospect's unique situation and adapt the framework to your specific sales context.