3 Simple Reasons Prospects Don’t Buy

When sitting down with decision makers, there is a tremendous amount of pressure on us, the business owner, to sell – to close the deal. So, we take out our gadgets and flip through our brochures, determined to convince them to end their search and sign on with us. And after all that time and presentation, they’re still not buying. Why Not? There could be so many reasons. But in general, it comes down to just three:   1.  No Money . For some of your prospects, they really may not have the budget to spend on what you’re offering. Others may have the budget, but consider your pricing too expensive. These are two totally difference scenarios. For those who really don’t have the money, this isn’t a time to push, but to thank them for their honesty and ask them if you can stay in touch. If they agree, nurture that relationship over time and when funds do become available, you‘ll be top of mind. For those who consider your pricing too high, take a step back and ask yourself, “Am I being fair in my pricing?” Then figure out what they’re comparing your price to – a competitor or what they think the price should be? Be careful here. Don’t let the fear of losing the sale, cause you to overreact and drop your prices. Consider offering volume discounts or lower annual fees in exchange for an extended contract period. Take the focus off the numbers and put it on the value you offer.   2.  No Need. It’s possible that there’s really no need – and that’s OK. Thank them for their time and stay in touch, like once a year, because one day, a need may arise. But, sometimes there is an apparent need and the prospect my not see it – but you do. This is when it becomes helpful to shift the conversation away from what you’re selling to the problem you’re solving – redefining exactly what it is you’re attempting to do. When a prospect says, “I don’t think I need it,” replace “it” with the problem.   For example, when you hear, “I don’t think I need retirement planning,” you repeat, “So, you don’t need a way to not run out of money during retirement?”    It may sound sneaky, but it’s not. Sometimes, as the professional, we have to help our prospects help themselves. That’s our job.   3.  No Trust. This one is perhaps the hardest to overcome and could be the underlying culprit of all your sales objections.  For some reason, your prospect has little or no confidence in you or your abilities. It could be simply because you’re new in business or that the prospect has had a bad experience in the past. But, trust takes time to earn and can’t be purchased with volume discounts and freebies.  Be honest, consistent, and intentional about keeping high levels of service. Share testimonials, provide references, give them a tour of your office so they can see how you work – reassure them that you’ve got their best interest at heart.   What should I remember? In business, the reality is, you won’t get every sale. But you can get good at figuring out why you didn’t and fix it for next time.