Do you frequently hear this from a prospect?
"I'll Think It Over."
What does this mean? It usually means that either...
The prospect doesn't know how to say No.
or
There are real questions he doesn't have the answers to that he will be looking for. He might want to price shop. Some clients are just procrastinators; they don't make quick decisions, or will never make a decision.
and
Something was missed earlier in the sales process.
So, could this have been avoided before it got this far? Possibly. The problem is that the longer the prospect delays, the less likely you'll close this deal. I see sales close ratios go up when my clients start using dealing with this before it happens, and handling it quickly when it does happen.
When your hear "I'll think it over," it is an indication that a step in the sales process was missed by not clarifying what the prospect's decision making process was and when a decision would be made. Following the sales process step by step, and making sure that the prospect has discovered all of the right answers for himself before going for the close can increase your close ratio by multiple times. If you are hearing this frequently it is an strong indication that something is missing in your sales process.
Let's break this up into:
- How could we have avoided this?
- Dealing with it now that you've got it.
How Could We Have Avoided This?
During the sales process make sure to ask a few key questions:
- 1.) If the prospect can make the decision, or does he have to check with someone else.
- 2.) What is the decision making process? What is his major concerns? If they are all answered is there any reason that he wouldn't move forward?
Then restate the situation: "Let's see then, if [this problem, or that problem were resolved]... then you would decide to move forward?" (Now you have an agreement to make a decision and move forward if all of his questions are answered.).
- 3.) Is Price the major concern or is one of the other concerns he stated more important? (One last check on his concerns).
Dealing With It Now That You've Got the Stalling Tactic
"That sounds reasonable. You know, when I hear that I become a little concerned that something is bothering you. Is there something
- You're unsure of
- Your still looking for or
- I didn't answer to your satisfaction?
Some other questions:
What is it that you're still looking for that I might be able to clarify now? Would you share your concerns with me?
This will frequently get the prospect to open his concerns to you rather than walking away. Then provide the answers that are needed to close the deal.
Don't argue with anything the prospect says. Provide a logical, positive answer.
The longer the prospect delays the less likely you will get the sale.
And, if the prospect didn't really need your product and didn't know how to say no, you'll clear this up quickly so that you don't waste your valuable time. There is nothing more frustrating than calling a client over and over to hear, I'll get back to you .... later and it never happening.
Following these steps you will see your sales increase FASTER.
Alan Boyer, President, of The Leader's Perspective, LLC, one of the world's leading breakthrough specialists, helping companies find the breakthroughs that multiply them in weeks. His small business clients often double, some have jumped 10 times.
Helping companies worldwide reach further than they EVER thought possible...FASTER
http://www.leaders-perspective.com/
Contact Alan at AlanBoyer@leaders-perspective.com