Preventing Buyer’s Remorse
Has this ever happened to you? You have spent 3 months trying to close a sale. Each step along the way you are getting closer. And finally…after 90 days of hot pursuit, the deal closes and you are elated. You are flying higher than a kite and you fly back to your office on your magic sales carpet with check in hand only to be greeted by a pink message slip that says, “Don’t deposit the check…we have changed our minds.” Ouch!! The pain is not your client’s pain… it’s yours.
Upon reflection, your client may not have seen the value in your offering. Perhaps they did not understand the ROI (return on investment.) Maybe all of the decision makers were not in the room when the check crossed from their side of the table to yours. You may not have discussed how you would deliver your service and when you would deliver it. Your focus may have been on getting the check and not on creating enough trust and credibility for your client to have total confidence in your deliverables.
When your prospect is about to take out his/her checkbook, it’s a very sensitive time in the sales process. This is not a time for you to become talkative and giddy. This is not a time for you to be asking any more questions. This is not a time for you to ad anything to your presentation. This is not a time to grab the check and run. This is a time for you to be respectful and appreciative. This is the time for you to close your mouth.
The next time you are about to close a sale, as the check crosses the table, let it sit there. Don’t be anxious to grab for it. Ask your prospect if he/she is sure they want to go forward? While the check is sitting on the table, you might even want to review the objections they raised during the sales process to ensure they are comfortable with their decision. Although you may feel like you’re opening up some old wounds when you revisit objections, it’s better to do it before you receive the nasty, pink message slip.
For example:
Mr. Jones, you said in one of our meetings that you wanted oak cabinets in your kitchen with formica countertops. Now we're talking about granite counters. Are you absolutely sure you want granite? Let's discuss the pros and cons of this decision because it certainly will have an impact on the cost of the kitchen redesign.
Mr. Smith, when we originally discussed the design of your new house, you indicated you needed 3 bedrooms. Now we are talking about 5 bedrooms. The modified design will increase the construction costs. Is this the most practical decision for you?
Ms. Jones - when we first discussed providing accounting services for you, we thought meeting once every 3 months would be adequate. We now have agreed to meet monthly and that will affect our fee arrangement. Are you still ok with that?
If your prospect has back-peddled or bailed out on you and you get a pink message slip, take responsibility for what has happened. Debrief the sales meeting from beginning to end and think about what you could have done differently to prevent buyer's remorse. If you take this final step, my guess is that you won't make the same mistake again.
Go have your best sales week ever.
Good selling!!
Ken
“The efficient man is the man who thinks for himself.” Charles W. Eliot
Ken Levine
Impact Business Solutions, Inc.
508-845-8849
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