There are five major reasons why people don’t take up your offer. This post will show you a step by step approach to find out what is stopping you prospective customers from becoming paying customers.
According to Josh Kaufman of the Personal MBA, there are five standards reasons why your prospects haven’t bought from you yet. Unless you’re deliberate about finding the reason, it’s difficult to detect them. Also, by knowing the reasons in a deeper way you can address them well. If your offering can definitely solve a problem your client has, you’ll agree that the sales process is essentially finding and removing all the barriers to purchase.
Let’s get to deeply understanding the reasons. There are five of them:
- The solution is expensive.
- They think it won’t work.
- They think it won’t work for them.
- They believe they don’t require the solution you provide.
- It’s too difficult.
It’s your job as the business owner or the person responsible for sales to detect them clearly as early in the sales cycle as possible. How to do that?
You can train your sales people to get sensitive to the objections, which are uttered in a variety of ways during sales meetings. Some might say they don’t have the budget, that they have chosen another vendor, that their problem is unique and your solution won’t work for their situation, that they would like to consider it after six months, or they don’t have the resources (men or skills) to implement your solution. And there will be a hundred other ways they reject your solution. Regardless of how they are uttered, they generally indicate one of the five reasons. Get skillful in identifying them in your face-to-face conversations.
There’s a better way. It doesn’t require the hard, on-the-spot reason-finding. It is a deliberate and polite approach – but can be far more effective than in-person discussions. This method will still try to find out why your prospects are reluctant and what you can do to overcome that. You can systematize the entire method and get far more useful, measurable data.
Enter ‘barrier-detecting’ forms. You’re going to send your reluctant prospect a simple form. When you think that the sales process is stuck with a particular client, just send them a simple form and nudge them to tell why exactly they haven’t brought from you yet. Tell them you’re really convinced that your solution will help them, and that it’s your duty to clarify any and all questions they have.
We have a readymade email template and a Formstack form you can take and adapt. This email will help you reveal the reasons for your prospect’s reluctance.
Hi (client name),
Thank you for considering (Company name)’s (product / service name)!
We’ve made our product (service) to help people just like you. Is there something that is holding you back from buying our product (service)? We’d like to know why you haven’t made the decision to go with us yet. Kindly fill in this form and help us understand why you haven’t bought from us yet.
Any questions or tips? Let us know in the comments below!
About The Author
Alex Sirota (@alexsirota), Founder and Director of NewPath Consulting, helps small businesses with zero-to-minimal software experience keep their technology expenses low, market their businesses better, launch their business faster and turn profits sooner. He has more than 20 years of experience working with small businesses and can help solve your technology and marketing challenges.