While it is very easy to use the classic reason for prospects not buying from you – the price was too high – I don’t Buy It. Sorry for the pun it was just too easy. 🙂
Yet, my choice is correct – that price is not the only reason. And, it is used as the verbal reasoning told to you, since most buyers do not want any confrontation or conflict due to the real reasons.
Here are the REAL Six Reasons They Don’t Buy from You…
Six REAL Reason for No Deal
Don’t See the Value
If all you are giving the buyer is the price and you are not the lowest priced offer, you need to show the added value of your solution. This value must be stated in terms of return on investment which outpace the low cost provider on key deliverables such as quality, dependability, reliability, on time delivery or JIT delivery. There are values which sales people overlook or assume are known – when they are not. Take time to educate your prospects to improve your probabilities for success.
Don’t Understand What You’re Offering
In many complex offerings, the deal is made too complex for the prospect to know exactly what they are getting and when. When uncertainty enters the picture, most buyers take the survival route of no deal or worst – the delayed deal. Make certain you can walk the prospect through the complexities using case studies with similar industries or situations. Make it easy to comprehend and you will close more complex deals. Remember the KISS model – Keep It Simple Stupid!
Don’t Believe You
Now, this is the one reason that is the toughest to deal with because it gets personal. When they don’t believe it is as simple as you suggest, or seamless as you point out, or will solve their problem – it is conceptual rather than personal. The real issue here is you need to build more rapport and trust with the relationship before moving too fast. When people trust you they are more likely to buy your solutions because they are confident you will make good on your promise.
Don’t Want it Now
The is the closest to a real “NO” as you can get. However, in some cases they do not realize the cost of not solving the exact problem at hand. It is in their comfort zone since they have been dealing with the issue for a while and even if it is bad – they feel they can deal with it. The power of the questioning model is what will turn this person whereby you increase the level of the pain from the problem (and especially to the impact upon other functional areas within their organization which is a form of social pressure). When they realize the totality of the pain, suddenly a sense of urgency enters the picture.
Don’t Have the Time
The “Crazy Busy” world we live in today has caused a serious time shortage for our prospects, customers, our own companies and You. This issue can arise due to a few factors: 1.) They are happy with their current situation and do not wish to “waste” time fixing something that doesn’t need fixing. 2.) Sounds too Complex and therefore feels it will take a huge amount of time to determine it’s useability or would involve a large number of team members – which they feel is impossible. 3.) They are aware of the issue, yet, other areas are commanding higher priorities, therefore they do not have the time available now. In this case you must use a better qualifying process to find the prospects with a sense of urgency to correct or change their current situations. Improve your methods by finding the people who are having the most difficulties with something you can fix. It is true this can be considered a marketing solution – yet, the best b2b sales people are excellent at positioning their products, company and solutions in the eyes of the prospect.
Feel They Can Do It Without You ( This is for the Business Services Sale)
While this is not as big an issue for product sales people, it is a huge issue for the professional services and business services b2b sales people. I have seen data showing the “No Decision” choice can range from 20% to over 50% depending upon the industries or markets involved. This one is a major hurdle for b2b sales people and must be dealt with as a business owner would handle it. The ability to show the “Cost” of no decision or the “Cost” of doing it themselves can be very high. And, it is usually a blind spot in the eyes of the prospect until they are educated about these cost elements during a dialogue about their business. Once the level of “cost” is elevated the idea of letting someone else get involved to fix the issue with a high return on investment becomes a given.
Stop using Price as The Excuse and truly evaluate what is exactly going on with the prospect. Then correct your tactics or strategy as show above and win the business.
Success in winning more business in today’s markets can happen and done by you. Are you need to do is to think more about what is going on in your prospect or customer’s business – then use a strategy designed to help them improve. This simple strategy alone will separate you from the thundering herd of commodity b2b sales people who can only focus upon their product and their sales commission.
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