Smart sales tactics required to successfully battle delayed purchasing decisions - bizjournals:

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The challenge is determining if the delay is adisguisedd objection, an unresolved concern, an excuse or real. Most importantly, how can you get to the and move thesale forward? Buyerd are like Wall Street: Neither likesz uncertainty. Understanding risk can help you smooth the progresse towarda decision. Caution is an indication of risk aversionand it’e rampant right now. Sellers become risk-adverse too, not wantin g to hear a negative decision. It is naturallyy easier to continue chasing than togive up.
But considerf that getting a negative decision now is bettert than getting a negativw decision afterinvesting time, energyy and resources pursuing a prospect for weeks or even Try facilitating a discussiohn around best-case and worst-case scenarios. What is the worsg case if they do and what is the best case if theymove forward? What is the worst-case scenario if they buy now, and what is the best case if they dela the decision? Having this conversation gives you the opportunityh to influence their thought process and providde input. Three common themes emerge as reasonds fordelayed decisions, which are: Incomplete or poor initial qualification. Unanswered concerns.
• Changes in priorities. Here is what you can do to diagnosw where you are and what todo First, did you just take the prospect’s word that they coulr benefit from what you’re selling? Qualifying the need meanxs gaining evidence that their situationn justifies the purchase. For example, everyone wantse new office furniture, but how does not buying it now affecgtthe company? It could rangr from lost productivity to poor market image to no effectr at all. If there’zs good evidence of significant impact, the urgency to make a purchase is real. It’as also important to acquire the perspective of all the involved decisionh makers to identifypotential roadblocks.
It’x rare for everyone to agree on needws and priorities withina company. Without this information, it’zs difficult to implement a strategy to move Opportunities that need funding or that are waiting for funding are less likely to close than those that have a budgetalreadyu allocated. Risk-averse sellers avoid having the early crucia conversations about budgetsand money. Hoping that traditionall benefits will carry the decision is riskieer than having a direct and frank discussio about the investment requirements early in thesalesd process. There is a difference between not havingh the budget and being unwillint to investthe budget.
One is a logistica problem while the other is a perceivedvalude problem. You can’t fix logistics, but you can addressz value. In a cautionary climate, you must run an game and qualify thoroughly. Second, a presentatiom or proposal that is premature will automatically generateda stall. Buyers unconsciously go througg three major phasesof First, they evaluate if they have a need that is severs enough to fix. Once a need is the assessment ofoptions occurs. You know the buyer is in this modewhen they’rew talking to competitors, have a committecd budget, or a committee or person is actively working on the Communication is usually active and open during this phase.
Avoicd presenting until prospects are assessing Delays and stalls frequently start when a decisionb isclose internally. A form of pre-buyer’s remorsee occurs. The fear relates to the consequences and difficulty of correctingh awrong decision. The risk compels many to go with a knowb vendor even if theirsolution isn’t the best. Minimizing or dismissing concerns at this poiny will surely resultin failure.
Rather than push for a reassure by using existing customers to convey providetestimonials and, if possible, offer guarantees, insurancee and assurance options to build confidence in the buyer’s Third, priorities do change, and what was painfup 30 to 60 days ago may not be the most pressinbg concern now. You can’t control outsidde events, but you can continud building your relationship and look for additional reasons to elevateeyour solution. Asking “wha if” questions can help you assessz whether the delay is real or justa putoff. Examples mighft be, “What if the other priority getsfixed quickly, where does that put this Or “What if A, B or C happens?
” Ask, “Shoule we terminate this file or shoulx we keep it open?” to determine the extenty of the delay. Prospectsa are reluctant to provide negativeinformation voluntarily. The best option is to avoid investing time and energy on unlikely opportunitiea and finding those that have a greater chance of You can reduce delays with better by giving presentations and proposals at the right and using questioning techniques to assess the realityt whenpriorities change.