You’ve done everything right with your new prospect. The initial prospecting call went well. The prospect expressed interest in your product line. They asked great questions during your presentation. But, now that the contract's in front of them, they’re stalling.
If they’re telling you that they’re not ready to sign, you need to overcome their objections. Leslie Ye has done some legwork on this issue for you. Out of the 22 responses she listed on her recent hubspot.com post, here are a few that resonated with me.
Is Timing Really The Issue?
Prospects will often tell reps that they can’t purchase something right now, because it’s a bad time. As soon as you hear that excuse, you need to dig deeper. Ask them outright if timing is the problem or if there’s another issue. More often than not, your prospect will start talking about something else. For example, they might be worried about making the purchase now, because it’s going to disrupt the established workflow in their department. Aha! They’ve identified the core problem. Now, you can address the issue with recommended solutions. Acknowledge their concern and explain how other clients have rolled out your product or service with minimal disruption.
Is There a Product Feature They Love?
When you sense a potential sale is about to slip through your fingers, start asking questions. In previous conversations, the prospect has told you what they like about your product. Maybe they appreciate the ease-of-use or the automatic updates you’ll provide. Get them talking about your product and listen. Do they mention a different part of the product than the one you focused on in your presentation or your final proposal? If so, Ye suggests you “restart the conversation on different terms.”
Is Someone Else Making the Decision?
Despite your best efforts, you sometimes learn that you haven’t been dealing with the final decision maker. You won’t always be able to get in front of the person with the power to buy. In those cases, ask your contact what would help to sway a decision in your favor. When your prospect is displaying buying signals, ask them what works to influence the higher-ups. Blog posts, price sheets, and testimonials can all fuel your way to a signed contract.
When your prospect is suddenly suffering from a case of cold feet, don’t give up. Be strategic. Ask the right questions until you understand the real issues, and then devise a solid solution.