10 Reasons Your Prospect Didn't Buy From You
So that’s it. They’ve walked out on you and the opportunity you presented to them.
Well, first of all, it’s okay. No one sells to everyone, and that is a fact. Recognizing that rejection is inevitable is part and parcel of being a successful salesperson.
The best thing to do now is reflect on what happened and ponder what you could do better. Maybe your customer didn’t buy for one of these reasons:
You didn’t build enough value
If you focused on the features of your product (‘it uses the latest technology’) and not the benefits (‘so that means it’s going to save you lots of time’) then you’ve left the customer with the responsibility of figuring out the benefits themselves. People buy benefits, they buy the answer to the question ‘why should I care’, so it has to be your focus.
They don’t like you
Failing to build common ground and create a relationship with your customer first can set you back substantially. People are more likely to buy from people they like – did you build a personal relationship?
They sold you on their objection
If your customer gave you an objection that makes sense to you, you probably didn’t question it as much as you should have. Yes, Karen might get her tax back next month and be in a better financial situation then for a new car – but is there a reason that it’s better for her to buy now?
You didn’t ask enough questions
Sometimes we fall into ‘presenting mode’ and fail to ask relevant questions to make sure we’re on the right track. Most people won’t stop you in the middle of your presentation and say ‘John, I think we would actually receive the most benefit from XYZ feature, can we talk about that?’
It’s your responsibility to find out what’s important and cater to that, so ask more questions!
You lost credibility
You should always be an expert in your field. If you crumbled under a tricky question it might be time brush up on your product knowledge.
You sold to the wrong person
It’s important to figure out who the decision maker is in any effective sales conversation. Sometimes we get someone on our side... only to find out they’re not the one deciding! Ask questions to get this information from the start.
You didn’t follow them up in a timely manner
Sometimes the ‘yes’ is just one phone call away. If you’ve forgotten or chosen not to make one last call to this person while they’re a warm lead, it may be the one thing that lost you the sale.
You talked yourself all the way out of a sale
Sometimes a prospect reaches a point where they are ready to commit... and the salesperson keeps talking and talking and talking; missing that pivotal moment where they should have closed. No sales meeting should go any longer than it has to – make sure you regularly ask if the customer has enough information to decide. If they do, it’s time to wrap it up!
You didn’t listen
The amount of times I see this exact situation unfold is excruciating:
Salesperson:
So do you think that would work well for you? .... Because it has all these features that would be great for your business.
Don’t you think it would be great? ....I think it would be great for you.
What do you think of this? ....Because now is definitely the best time to buy.
Asking questions is great, but did you actually stop and listen to the answers? Every time you ask a question, zip your mouth and wait for the answer.
You didn’t ask them to!
This one sounds funny but most people won’t buy unless you actually ask them to (for more on this, see our article ‘5 Closes in Every Sales Pro’s Toolbox’). Did you try to close the deal?
Evaluating what we did right and what we could do better should be a standard part of our process with every prospect. It’s one of the best ways to master our craft.
Hot tip 1: Sometimes it can be beneficial to ask a prospect for feedback as to why they didn’t go through with the deal – you never know, one of the ten things above might be their answer!
Hot tip 2: Notice none of these reasons were the price. That's rarely actually the case.
Make Today the Day,
Sonia
This blog post was originally posted on my training website, Statusone.com.au, on November 6, 2016. I have since been moving some of my favourite blog posts from there over to here, as this is now my ‘content hub’ and I want you to have access to some of the cool stuff I’ve written about before. You can still check out the Status One site if you’re interested in corporate training if you want. Also, don’t forget to sign up for the newsletter below for updates and weekly exclusive content.