No matter how many times you go back, the answer is always the same. Regardless of how well-prepared your offer, how aggressive your price, or how favorable your terms, this particular customer is unwilling to place that first order. As for exactly why they’re unwilling to move forward, you’re still not quite certain. It’s the reality of trying to close business with a customer you’ve deemed important and essential to your business. However, the solution lies in understanding this particular customer’s fears and concerns and confronting them head-on. What is holding them back from moving forward? What subtle hints are they providing as to why they’re apprehensive about purchasing from your company?
Customer Fears and Concerns
Unfortunately, not all customers will immediately say “no,” or even provide you with why they’re unwilling, or unable, to place that all-important first purchase order. Some customers are just reluctant to provide details. However, their apprehension can typically be chalked up to one of five essential customer concerns.
Now, not all of these customer concerns will be present, but at least one of them will hold your customer back from making their first purchase. These concerns are ones you must pay close attention to.
Face-to-face customer visits are easy to manage. Visual cues are easy to spot. However, what happens when you’re on the phone and merely trying to set up that first visit? What happens when they’re too far away for a visit and you must close that all-important deal on the phone?
We’ll answer these aforementioned questions by reviewing the five main customer concerns that keep you from closing on opportunities. These fears aren’t always obvious, but if you listen closely, you will be able to identify them and provide a solution that elicits a buying response.
1. The Unknown: Perhaps the biggest issue is that your customer is unfamiliar with your company. A customer’s fear of the unknown is a powerful deterrent. It’s the reason why they may choose to stick with the “devil they know,” rather than move forward with an entirely new source of supply. You may know that your product and service offering is vastly superior to that of your competition, but to your customer, it’s an entirely new relationship and a complete unknown to them. Confront the issue head-on. Ask your customer if this is a fear of theirs and what you can do to alleviate this as a going concern.
2. Uncertainty: Even if your customer is willing to give you a shot, they may still be apprehensive above moving forward. In fact, even they might be unaware of exactly why they can’t make that first purchase, regardless of how good your price is. It could amount to uncertainty about your proposal, your pricing structure, or your overall approach. From the customer’s perspective, your pricing and product offering may simply sound too good to be true. You must show an ability to back up what you promise. It could be as simple as providing a guarantee, or expressing your willingness to provide everything in writing. After all, your customer may be used to competitors who’ll say and do anything to win an order. Your ability to back up what you promise could be just what they’re looking for.
3. Being Challenged: A number of customers have an inherent fear of having their decisions challenged. Whether that comes from you, other vendors, or those they report to, the concern of being challenged is a strong one. While it may come as a surprise, not all customers enjoy telling you you’ve lost the bid to a competitor. Help your customer justify their decision to buy from your enterprise. Put yourself in their shoes. What evidence would they need to show that their decision to buy from you was the right one?
4. Service: A customer’s fear of service equates to how your company will support them long after the sale is completed. For the customer, service with a new vendor is a serious concern. It is essential that you assure your customer that your company’s after sales service support will be there when they need it most. Customers are afraid of company’s who promise one thing, only to deliver another. If need be, used your existing customer relationships as evidence of your service capabilities. Ask existing customers to provide references, ones you can use to assure new customers of your ability to support your product.
5. Comfort Zone: Some customers just need to be in total control of the buying process. Your sales ability may simply be infringing on that control. As you subtly take control, your customer may try and put a halt to the process, for no other reason than to try and reposition themselves as the dominant player. When confronted with a customer exhibiting such a response, take the time to go through the offer again. Ask for their input and try to get them to tell you how they feel about the offer.
Remember, not all customers will be obvious by stating what they like, or don’t like, about your company, its product and your proposal. Some will need to be coaxed into providing you with information. Some will require that you have the patience to listen closely for any of these five aforementioned fears and concerns. Listen to what your customer is saying. If they show apprehension about moving forward, ask yourself exactly which one of the fears they’re exhibiting. Once you’ve identified their concerns, address them head-on and lead your customer to a decision in your favor.
To read more about handling situations that involve customer fears and concerns, please read: Secret to Successful B2B Sales: Identifying Customer Buying Influences
The above video is from: Sales Negotiation: Defend Price, Customer Scare Tactics & Managing Concessions
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