By Kelley Robertson
In a perfect world, every person or company you contacted about buying your product, service, or solution would make a positive buying decision. However, we don’t live in a perfect world which means many prospects don’t buy.
Here are eight reasons why prospect’s don’t buy from you.
1. They already have a supplier.
It can be difficult to unseat a current supplier even though your solution may be better, faster, or more advanced. This is especially true if the current supplier has consistently met the company’s expectations.
If the prospect is a high-value opportunity, then you need to keep your name in their mind by staying in touch. That can help you get your foot in the door if the existing supplier falters and makes a mistake.
2. They are resistant to change.
This is an extension of the previous point. Many people in organizations are reluctant to make a change because of the potential pain or headache of making that change.
When I first started my sales training business I enlisted the help of a friend to create and maintain my website. Unfortunately, every update and revamp took twice as long as she quoted, there were always typos and spelling mistakes, and communication from her was very weak. However, I was hesitant to find another webmaster because of the hassle associated with the change.
3. They don’t need what you’re selling.
Unless you sell a product or service with mass appeal, not everyone needs your solution. There is no point trying to convince someone that your solution is a good fit when they don’t need what you’re selling. The best way to avoid this is to target your prospecting efforts.
4. They don’t see how your product will benefit them.
Most sales presentations (aka pitches) miss the mark and fail to clearly show the prospect how they will benefit from their particular solution. This happens because sellers focus their time and attention on discussing their product or service rather than outlining the key outcomes of implementing their solution.
5. They don’t have time.
Corporate decision makers in today’s business world are exceptionally busy. Their daily schedule consists of dashing from meeting to meeting, putting out fires, and dealing with current problems in their business. The average executive has approximately 40 hours of unfinished work on their desk at any given time which means it would take them a full, uninterrupted week to clear that work from their desk.
As a result, they simply don’t have time to listen to another sales person pitch their product or service.
6. They don’t want to undertake another project.
A good friend of mine is an executive in a large organization and he once told me, “I never return calls from salespeople because I already have too much on my plate. I can’t possibly take on another project.”
This is a common lament from many decision makers. They already have so many projects to deal with that they simply do not want to take on another one, even if it makes good business sense to consider that solution.
7. They have other priorities.
Priorities in business often change in an instant. A priority today, can be pushed to the bottom of the list tomorrow, when something else arises or another problem becomes more important.
As sellers, it is essential that we discover the level of importance of this project and what could derail it or prevent it from moving forward.
8. They don’t have the money.
Some experts claim that if you demonstrate enough value a company will always be able to find the money to pay for it, especially if you sell to senior executives. However, there are many situations when this simply does not work.
A few years ago one of my clients was tasked with reducing expenses in his division of the company by half a million dollars. However, as the year progressed, the company increased their demands and doubled the expected amount of cutbacks. That corporate mandate affected every single buying decision my contact made in the next twelve months. Many organizations still face the same scrutiny when implementing new projects or initiatives.
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As you can see, prospects face a multitude of challenges which affect their buying decisions. Some factors are within your control while other are not. Focus on the ones you can influence, and don’t get stuck on the others… Maintain momentum!
Kelley Robertson writes for Future Simple’s Growth University and is a business expert experienced in helping people master their sales conversations so they can win more business. He conducts sales training workshops and delivers keynote speeches through his company The Robertson Training Group.