A Limited Understanding: The Least Common Reason Your Buyer Isn't Buying
Good morning,
The below average salesperson thinks the majority of their lost sales were because their prospective buyer just didn't get it. Their buyer is stupid and doesn't know what's good for them. The reality? The seller didn't add enough value to justify a transaction or change initiative. Still, there are cases where a client needs to be further educated on the product/service before making a purchase decision. And that's what we're discussing today. Let's dive in.
Again, we're only focusing on buyers who lack key information on how a product or service works to drive desired outcomes. This is arguably the easiest type of deal to close for the simple reason that there aren't any complicating factors other than a lack of information preventing the sale. I'd even go as far as saying this type of sale is uncommon as buyers today are incredibly educated.
How can you know if your audience simply needs to learn more?
Observe customer responses: The primary way to determine if you've got a straightforward customer interaction at hand is when objections are rooted in incomplete or incorrect information. Think: “we can't buy this because it doesn't have XYZ feature” [when this feature does exist]. Instead of showing your whole hand and saying “You’re mistaken, we do have that feature,” you can first ask “what would it mean to you or your business if this feature existed?” With an even better understanding of what matters, you can fully showcase your product’s potential and ask if this new information is enough for a demo/advance/commitment, etc.
Identify product/service fit: If an Arizona-based strip mall’s roof doesn't have solar panels; if a rapidly hiring startup doesn't utilize any HR software; if an advertiser isn't using the latest AI-powered audience targeting technology… The immediate question is: Why? What factors might have contributed to this business operating in a suboptimal state? How you ask this type of question matters a lot, too. Approach the prospect’s (seemingly obvious) product fit gaps with a genuine curiosity. More often than not, there will be an understandable reason justifying the status quo. But when the logic is flawed (or nonexistent), asking “I think I've got an idea that can add real value to you/your business— Can I share it with you?” can go a long way.
Know your stuff, but don't flaunt it. Translate all aspects of your product/service to your customer’s language and desired outcomes to keep them engaged. No one likes to be talked down upon, lectured, or made to feel stupid for having done something the “wrong way.” Have your customer be the hero in deciding the solution themselves based on several options you've provided them.
Education-based sales should feel personal, novel and exciting, not contrived, obvious, and obnoxiously urgent. Happy educating, maestro.
When you encounter your next customer objection in the coming week, ask questions first. Gather context clues to determine if the client simply needs to learn more or if there are other underlying problems at play. You'll know what to do next.
93% of customers are likely to make repeat purchases with companies who offer excellent customer service. (HubSpot Research). Wether you think so or not, you’re a part of customer service in the buyer’s eyes. The way you make your customers feel has a huge impact on your quota attainment. Again, how you ask questions and educate your client matters.