Which stage involves evaluating if potential customers can afford the service?

The stage that involves evaluating if potential customers can afford the service is Prospecting. This stage is crucial in the sales process, as it focuses on identifying and engaging with potential customers who are likely to have a need for the service being offered. During prospecting, sales representatives assess not just the interest level of potential customers but also their financial capability to ensure that they are targeting individuals or businesses that can realistically make a purchase.

Understanding the prospective buyer’s budget is essential, as it helps in qualifying leads. By determining whether potential customers can afford the service early in the process, sales professionals can prioritize and tailor their approach to those who are more likely to convert into paying customers. This evaluation is foundational for streamlining efforts and increasing sales effectiveness.

In contrast, stages like approach, presentation, and objections involve different aspects of the sales conversation. The approach is about initiating contact, the presentation focuses on showcasing the product or service, and handling objections deals with addressing any concerns a potential customer might have after the presentation. Each of these stages has its specific objectives, but the financial evaluation of prospects primarily occurs during the prospecting phase.