It’s frustrating, but the bigger factor is that failure to make these sales has a direct impact on your bottom line. How much improvement to your profit and cash flow would you have if they only knew what you could really do?
Somehow, you failed to communicate the full value of your product or service to your potential client. They won’t get the incredible benefits they would receive. They haven’t understood how special being your client is. And consequently everyone loses.
Four things have typically gone wrong in these situations.
You fail to establish trust
Sometimes, we are so concerned with making a sale that we stop listening. We push too hard or too early, instead of understanding our client’s needs first. We work to our agenda instead of theirs. When this happens, we fail to establish trust with them.
You fail to create an emotional desire for change
In any sales negotiation, the client’s desire for change must reach a level where they are compelled to take action. This is a very emotional element of the sales and marketing process which can often be neglected by overly focusing on the logical elements of the decision process.
You fail to communicate your unique value
We often fail to communicate how much more value we offer compared to our competitors. We don’t explain sufficiently why the client can only get these benefits from us. Consequently, the client resorts to making a decision based on price.
You fail to instil urgency
There is nothing worse, in the sales process, than to hear, “I need to think about it.” You have to overcome the inertia caused by fear of making the wrong decision and other factors that cause people to put off making a commitment.
Selling is an interpersonal process
To achieve a high level of conversion in our sales interactions, we need to develop a process that overcomes all four issues mentioned above.
Selling is not a one-step event. You need to court your clients first, by making your business attractive and your products or service desirable. Then you need to develop trust elements in your marketing to build credibility and enable your clients to grow into knowing, liking and trusting you. You also need to communicate your unique value while you communicate the benefits of taking action so that your solution to their problem can be experienced and enjoyed.
If you can do all this in your marketing processes, you will find that the sales process is a breeze. When your clients come to you pre-sold, you don’t have to do much selling to get them to buy.
How is it for you?
If you find yourself frequently worried how much your competitors charge, you need to work more on your marketing process to let your clients know what you can really do. If you find it difficult to get people to make a decision to buy, you need to do more work up front. It’s not a matter of getting better at closing the sale. Those techniques don’t work very well any more. Now you have to be better at opening opportunities and building the sale so that potential clients close themselves. That means working more on marketing than selling. It’s about warming potential clients up to the point where they are compelled to buy your solution, instead of being pushed into a hard sell.
If they only knew what you could really do, your selling and your life would be a whole lot easier and more profitable.
Greg Roworth is a business growth specialist and author of Run Your Business on Autopilot – How to Leverage Your Business for Maximum Profit in Minimum Time.