Is customer constantly postponing purchase? A Sales Tip, That must apply in each first meeting to make more winning chances !!! (The real psychology)
Okay, here we go. First ! no, this is not from books but from very great experience, that we are taking by consulting hundreds of businesses. We really don't want YEC (Yet another CRM) so what we did, is to get into the business process and psychology too.
In sales especially in financial downtimes or in developing countries, is more of a psychology game, once you know your product is worth for customer, and he is willing to go but not going for it.
So, here is what we found and sharing with you too. This content may not be good for you or your product but a lot of businesses agreed on this and found good results while applying this with our intense sales training.
So, let's understand one of the biggest problem, the naked truth ;). Starting from very basics to a psychology of one sale problem. remember this is not the only problem, but one of major.
When does the deal happen?
Everybody knows this, this is not rocket since. if the following points meet.
- Your product is solving some of the customer need.
- Your customer is having that problem and he wants it to solve.
- Your solution is in a budget of the customer.
- A customer has the ready budget in preference for your product to solve the problem. (ie. That problem solving, is in his priority and he has a budget ready for that and your product is fit for a solution and within his budget range).
Simple, isn't it? And your customer is constantly giving you time after time, not buying? funny, isn't it?
Where the actual problem raised? when your product is good, customer need that, not denying ... but not purchasing either.
You set the conversation on the higher status level than required !!!
And here, the salesperson makes one confusion, especially, if your salesperson is not that experience. If your customer is giving you time after time but not denying, means 1. He is Interested 2. He is not ready.
And we are here to deal with point 2. Let's see what happens in real life first meeting...
What happens in a typical sales deal is a showing superior from both sides (Required for sales too, but you are doing it with a small problem)
- Your salesperson, tells great about your company, he explains "your company is great". That goes directly to your customer's mind.
- Is he something shorter than you? no, he tells you better about their buying habits and how he doesn't care about money but the good product. and since he really likes your product and needs it, shows interest.
- This makes a problem, your salesperson is now excited inside, he goes up and tells higher things (that eventually costs more) ;)
- Now, since both persons are on a "high status" level, the customer accepts the good things, salespersons if excited takes it on higher and the level of total conversation is somewhat on "higher level". In response to being superior with each other, both don't want to be lesser. The customer shows his complex needs and Salesperson shows better/costlier solutions.
- Since in this great talking, a customer says the product is good and they are interested. But just to show themselves superior, they sometimes do not accept mismanagement or common business problems they are facing but just says these all are okay with our company. we are good, do you have something better?
- Now sales person picks out higher products to impress and they both become on the "highest level" of the deal.
- Here, the problem is customer is not having that budget for your product OF THIS LEVEL, but psychologically, to show themselves superior the deal goes on a much higher side, than that was required and that could be in the budget, but now it is not.
- On that level, nobody denies, Customer will never say 'We do not have that budget' because psychologically he is a great company and required THE BEST product in the world, rather than the product that solves their exact problem.
- And then what happens is the next call from sale person and your client's usual replies, "Need to talk with my partners", "Need to consult with my father/brother", "just going a bit busy, but we will surely do", "blah blah blah" you know it all.
- Here, if he is not interested, he will refuse you. But if he is not refusing and not genuinely busy somewhere, it is a matter of pricing, But since he is not having other option in hand, or evaluating other options also, keeps you open. But he will not say "I am not suitable for this price, can we go to a smaller level now". NOT ALL CUSTOMERS, BUT MOST OF THEM DO THIS, TRUST US ;)
Is there a solution?
Experience is the best solution for the sales and marketing team, But we at Xavoc, just do not deal with ERP or CRM but the total business you have. We sometimes, if requested by the client, can guide their salespersons with proper training too, including managing their Digital Marketing or Inbound Marketing.
But for this article we have a thumb rule, that has given good results to our customer and here we are sharing this with you. So on next sales deal just remember those points
- No matter how high your customer is showing (That he can be also in real) but make a fixed note in mind that he might not have that kind of budget (Maybe just not NOW) and we are going on a superior side in show-off.
- Once you go with your deal, you should throw a masterstroke to make the customer comfortable to allow him to come down, remember he has set himself on a highest possible level and he himself will not say you that "boss, we cannot BEAR that amount". Your master stoke can be a line like this
"Sir, although, you need such great product and we have that also, but from my experience we must not start with the top part, so, let's start with something down. ... (and then go with the range that is just above the smallest) and ask him, if it, at-least solves his starting need ?"
- If he is okay with that product level, he will agree with you. Because now you made him comfortable to come down, otherwise you both were sitting on impossible trade.
- If your customer is really willing to pay, he himself will suggest you the higher level he can go.
- Normally sales persons do a mistake here, they do not say such line, just to get a bigger deal, but what happens, in the end, is, you just win a time after time or call after call, not the deal.
LEAVE YOUR CUSTOMER IN POSITION TO GO DOWN THAT DOESN'T LOOKS "HOW I CAN GO DOWN NOW" TO HIM. MAKE HIM FEEL LIKE "YOU ARE PROPOSING ME TO GO DOWN, AND THAT'S FAIR ENOUGH, SO OKAY, LET'S GO THIS WAY, AS YOU SAID, NOT ME, I AM STILL BEST AND I DO NOT DEAL IN SMALLER DEALS"
Do not do it on after calls!!
What happens when your customer delays deal, you offer him a lower product on call, but this is not a good way. This way customer may feel like an insult or ego problem, so he denies that "no, no, it's now about money, I want the big one" because you left your first conversation on the highest level and now the customer is okay with showing himself down. and you didn't leave the door open to come down.
And which lower price to offer at the end, is still on salesperson presence of mind. And exactly it is not an offer, it is just to allow him to come down without hurting his ego he just set.
WIN THE CUSTOMER, NOT THE DEAL.
This short read might look weird, but trust us, a number of companies understood it well from our training and learned to implement this in actual conditions.
So, do you also need more stuff from us? Write to us at http://www.xavoc.com/contact-us
Hope you like this read.
Happy Sales :)