4 strategies for getting a prospect to become a client



4 strategies for getting a prospect to become a client

From: http://www.bizjournals.com/

“She’s great at selling.” “He’s a natural.”

Sometimes we think getting the sales order is a talent someone is born with, similar to an ear for music or natural rhythm. Many people are good at doing research and presenting proposals, but not that good at taking it to the next step.

The good news? “Asking for the order” is a learned skill.

Here’s the scenario. You have met with your prospect, learned about them, produced and delivered a proposal. Now you’ve entered into uncertain territory. Often no one speaks until the prospect says: “Let me think about it.”

Here are four tactful ways to approach the situation differently and encourage your prospect to make a decision.

1. Gaining Approval in Advance

Your process involves two meetings, the first to gather information and the second to present your proposal and ask for the order. Sometimes we are tempted to go for the low-hanging fruit at the first meeting. Some needs seem so obvious. You resist the urge.

Approach: You explain that today is your opportunity to learn about them, their situation and their needs. No recommendations will be made today. At the next meeting, we will review the plan and they can decide at that meeting to implement or not implement the entire plan.

Outcome: You have set the expectation that the next time you meet it, will be time to make a decision.

Risk: They never agree to the second meeting. At least you learn they weren’t serious without wasting several months following up.

2. The Cost of Waiting

Sometimes prospects say, “Let’s leave things alone for the time being.” But pricing isn’t static, especially if items are in short supply or manufacturers raise prices. (Investments change value daily.)

Approach: You contact them later and reprice their order, based on current market prices. Often they go up, especially if it’s investments and the market is rising. The difference between the cost then and the cost now is the cost of waiting. (With investments, they would need to also consider what their money has earned in the meantime.)

Outcome: You have established that waiting often has a cost.

Risk: They will want the earlier pricing. Try not to come across with “You should have taken my advice earlier.”

3. No Decision is a Decision.

“I think I’ll play it safe and keep things the way they are.” They equate making a change as taking a risk. This strategy aligns with the investment world. The client owns a portfolio that performs a certain way. It may have done well for them. You are suggesting a different strategy moving forward. They may be unaware that not taking your advice means they think their current investments are fine going forward.

Approach: You explain that their current investments support certain assumptions. But your recommendations support a different set of assumptions. Which set of assumptions do they believe is more likely to become reality moving forward? Can they explain their reasons?

Outcome: The prospect now must defend their rationale of not taking any action. This means they have made the decision they are well positioned moving forward.

Risk: They may become defensive because they equated doing nothing with taking no risks. A London taxicab jump seat has a great sign: “People who take no risks are already taking one.”

4. Buy Into Each Other’s Ideas.

Your prospect has been doing things one way. You want them to move in another direction. This is a big step. They are uncomfortable.

Approach: Identify something they’ve done before that aligns with the strategy you are suggesting. Compliment them on their earlier decision. Explain you suggest they not only keep this component, but add to it.

Outcome: You’ve provided a security blanket, something comfortable and familiar. They may be more agreeable to accepting your other recommendations because of the respect you have shown. If they are still uncomfortable with the bigger package, they will likely be agreeable to adding more of the comfortable item.

Risk: They won’t agree with the big step or add to the familiar holding. But at least you have established common ground for initiating future conversations.

Closing doesn’t need to be adversarial. You can be tactful throughout the process and explain your rationale. You are either setting decision-making expectations beforehand, or making them aware of the consequences of postponing a decision.


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