For companies that sell big ticket items to households, it is extremely important to qualify customers early and often to ensure that all time spent is leading you closer to the sale. The last thing your sales rep wants or needs is to go through several steps of the sales process only to realize that the customer does not meet the basic qualifying criteria for one reason or another.
What happens you don’t pre-qualify before the financing step:
Every minute your sales rep spends with an unqualified customer could be spent with someone who is ready to buy. Too much time spent with unqualified customers is detrimental to sales rep’s individual performance and your business objectives as a whole.
Win customers that don’t fit
Skipping the pre-screening step of the process will create a false sense of hope for you and your prospect both. You will have a falsely inflated pipeline and you will be setting goals based on unattainable numbers. Be realistic and remove prospects from the pipeline if they do not meet your specific criteria.
Lose points with your 3rd party financier
If you are working toward building a meaningful partnership with a 3rd party financier, you will want to make sure you are sending them convertible leads . This will help build credibility for future interactions and increase trust between you and your lending partner.
Entrepreneur.com wrote a great article about it.
Of course, conducting a credit check on your prospects is a necessary step, and running a title validation check is a simple and effective preliminary measure before the credit check stage of the sales process. This way, you can run an un-invasive, cost-effective scan during the early stages of the customer journey to gain confidence in moving forward to the next steps.
Thankfully, the capability to run title validation is just one of the many features available as part of our easy-to-use API. Begin your free API trial now to integrate title validation into your own sales process.