“I have the money to buy and the time to discuss with you because I want to get this solution now from your company.” said no client ever.
Why your clients are not buying
But you would love to hear it, right?
This phrase compresses the result of overcoming the five most common reasons that clients invoke when faced with a business proposition:
- Money. The client usually states he does not possess the money for the service or product you are proposing. Just a small amount of businesses do not have money for investing in development. The other ones have the money to buy but do not understand the benefits of your product or service yet. If it brings value to their business be sure they will invest in it.
- Time. This reason is even more unbelievable and can also be counteracted by demonstrating the value brought by the solution. A business owner or manager will always make the time to increase the productivity and bring more money to the firm. So that makes this reason obsolete.
- Need. There are two types of reactions you get when proposing to a potential client: he knows he needs your solution or he doesn't. If he knows, it's simple to move on with the discussion, but if he doesn't, a demonstration and proof of his need are required. He has to understand clearly why he needs the service or the product. Follow the three steps rule or use a trigger event, which is an event that can make a person realise that (s)he needs something.
- Urgency. The client overcame the money and time problem, and he knows he needs the service or product, but why now? In this situations, you need to create the sense of urgency depending on the service, product or business relationship. The client needs to know that if he does not get the service or product now, he will lose money, he will not make as much, or he will miss out on a great opportunity.
- Trust. Went through with money, time, need and urgency? The client knows he has to buy the product or service, and he has to take quick action, but he still does not buy yours. This is the time when the credibility question is raised. The client needs to know he can trust YOUR product or service, not a competitor's. Conquer their respect and earn their trust.
Knowing the five reasons clients do not buy can make you and your sales team feel prepared for any business interaction. Being always prepared will make you trustworthy and will ensure growth for your business.
What other reasons have you or your sales reps heard while proposing to a business owner?