Learn to Listen to What a Prospect Doesn?t Say by lisafugere

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Learn to Listen to What a Prospect Doesn?t Say
by lisafugere

shutterstock_60806812Closing the deal is one of the most challenging parts of any sales job. Customers are reluctant to part with their money and afraid that they will waste money on something that doesn't really benefit them. To make sales, you have to pay attention to what your prospects' real objections are and demonstrate that your product is worth taking a risk on. Learning to read between the lines of what a prospect is telling you can go a long way towards helping you convert them into customers.

If the prospect seems enthusiastic about the product but doesn't want to buy, that's a signal that he or she has an unexpressed concern about what you're selling. Look at what the prospect is saying and his or her body language to determine what the issue is. Here are some common scenarios.

Procrastination Usually Means No
If a prospect says they "need more time" to go over materials or has to check with someone else, the odds are strong that you won't hear from that prospect again. When prospects put off a call or delay a decision, there's a high likelihood they aren't serious about your product but don't want to directly tell you no. Saying no invites a sales rep to argue and try to change the prospect's mind, while putting things off lets you down without risking conflict.

When a prospect asks for more time to consider your products, insisting they make a decision can scare them away. However, there are a few things you can do to make it more likely that they will commit to buying from you.

Ask the prospect what his or her specific concerns are. Let your prospect know that you hear their concern; you understand that they're saying, "I'm not sure about this."  When you can expose the root of your prospects' hesitance, you can better address their needs. For example, you can say, "It sounds like you're not sure yet that this product is right for you. What are your specific concerns about it?"

Set a specific deadline for follow-up. If a prospect asks for more time, don't just give them as much time as they need. Set a specific deadline so they're less likely to fall out of contact. You can set a deadline for a response without pressuring your prospect by setting a date and time to discuss concerns. Discussing concerns is less intimidating than trying to change their minds or convince them that your product is a good fit. If you can get a firm commitment for a further conversation, you have a better chance at accelerating the deal.

Financial Concerns Sound Like Enthusiasm Without Sales
Sometimes prospects enthusiastically embrace your product, but don't have sufficient budget to afford it right now. They say things such as, "It sounds like a great fit," but don't follow up their praises with a commitment to buy.
In some cases, financial concerns are just that: financial concerns. In other cases, "insufficient budget" is an excuse to let you down easily and avoid a further conversation with you. How can you argue with corporate budgets? When prospects use budget as an excuse, you can take a few paths to close them.

When prospects can't get budget approval, you can salvage the deal with special financing offers or creative deal packaging. If you sell products on a per-seat basis, getting one or two seats is better than no seats. Set the deal up for an up-sell; get one or two of the most enthusiastic proponents of your product to buy, and focus on winning additional business over a long period of time. If you sell on a one-time purchase basis, make sure you know how far your company is willing to go to win a deal and exactly what types of pricing promotions they'll allow

When a prospect masks reluctance behind budget complications, they're either dissatisfied with your product offering, or aiming to get you to lower the price. You can determine which one by getting the specifics of their concerns. If they site budget insufficiency, ask exactly how much they have to spend, and do whatever you can to work within it. If they still can't make any commitments, budget is probably not the problem. When a prospect tells you no, you have an opportunity to salvage the deal. Unless you can figure out why a prospect hesitates, you'll accrue a lot of unnecessary losses.