This is the single most important thing you can do to increase your sales TODAY:
Ask yourself: Why are my prospects and clients saying NO?
There are many reasons why they say yes. We think it’s because of our baby, our idea. The reality is that they say YES because they perceive we will solve at least one of their problems.
On the other hand, people say no for a specific reason. (They might not be aware of it, but there is a reason.) Once you figure out and resolve enough of the big reasons, your sales will improve immediately. The idea is that if you can anticipate and solve those objections, then the more likely they’ll buy from you.
Here are four reasons prospects and clients say no and how to overcome them.
1. Risk
What risks do prospects perceive that prevent them from making the switch? How can you give them certainty of success? In other words, if they buy your services, will their needs be met … beyond a shadow of a doubt?
Set aside 30 minutes to come up with at least five to 10 ideas of what perceived risks your prospects experience when deciding whether to buy from you. List them, rate them in order of importance, and then come up with solutions for the most important ones. Better yet, test the results by running them by some of your trusted clients.
The answers you come up with will be worth thousands of dollars to you.
2. Friction
What are the friction points — the push-backs — in prospects’ minds that are preventing them from buying?
Examples of friction points are:
- Asking them too many questions too early in the process. (Like asking for their birthdate when they request a quote.)
- Offering too many options.
- Omitting the perceived disadvantages of your offer.
Here’s your homework:
- Identify as many friction points as possible by asking what is your unsold buyer saying “Yes, but …” to.
- Determine a way to eliminate, smooth out, or postpone any of these concerns.
Use these answers to be prepared to counter those “Yes, but” situations.
3. Success.
What needs to happen for your clients to feel successful with the purchase? How do your clients define success? What specifically are THEY buying?
For example, the definition of success is different between someone buying a Big Mac and someone buying steak from Ruth’s Chris Steak House. The first wants fast and cheap. The second wants outstanding service, a long wine list, and a feast for the taste buds, etc. etc.
Both want food, but have different expectations of what makes a successful experience. In an extreme case, if a company provides the wrong success formula to the wrong prospect, it’s a flop. In most cases though, companies don’t spend enough time thinking about their clients’ definition of success.
4. Difference.
Ask “Is your product or service presenting a difference that makes a difference to your customer?”
We tend to fall in love with our offer and think that its color, size, performance, capabilities, and features make a big difference.
Does it really?
How many clients have confirmed this with you?
Do those features make a difference to the user and the person making the buying decision?
And if you think that your services’ features make such a big difference to your customer, are you demonstrating those differences in a way that’s easy to understand and memorable to them?
Give these four concepts — risk, friction, success, and difference — a chance and see what happens. Somewhere hidden behind one of them lies the secret to substantially increasing the revenue of your company.
Image credit: Hotel du Vin and Bistro