I know who the number one competitor is: yourself. I’m not talking about that!
This is about the competitor you can’t see, and yet is out there on every deal that you’re trying to get. The competitor you can’t see is ‘no decision’.
It’s not that they’re not buying from you because they’ll buy from somebody else, or that they’re going to stay with who they’re buying from now. They have simply chosen to not make a decision.
Let me help prevent you from becoming victim to no decision.
I’m not talking about your confidence, I’m talking about your customer’s confidence in you.
So many times when I go back and I analyze why deals didn’t happen, it’s because the customer never had confidence in the salesperson and the company they represent. I see this in every industry I work in.
If I don’t first create confidence, why in the world would a customer choose to buy from me? They’re not going to. So my focus has to be on first, creating confidence where they can see that I can provide them with an idea and I can help them understand what the problem is.
Read more about 6 Things Customers Need Before They Buy.
I have to be able to help the customer see that this is a solution and their problem is solvable. Sales is about helping others see and achieve what they didn’t think was possible. If I can’t help you do that, I didn’t do my job.
I’ve got to be able to have a deep enough conversation with you to be able to gain insight and subsequently help you understand your unique solution. Because if I don’t get deep enough (through confidence) with you in terms of understanding what the solution is, guess what? Chances are you’re going to wind up making no decision.
Value is not price.
I need to create a workable plan that’s going to help you address the issue that needs to be taken care of. It could be a pain, a gain or an optimizer. You may be protecting the downside. But the value proposition is about showing the customer that this is the right way to go.
This undermines more deals than anything else, or I should say, the lack of urgency.
The customer may have a problem. They like your solution, but if they don’t have urgency to solve it they’re not going to do anything about it. It isn’t good enough for me to present a value proposition that makes sense. I have to frame it around urgency, because if I don’t have urgency, guess what? No decision wins the day.
We have some significant upgrades that we’re going to be making in my own company. And I’ve had salespeople put out great, very viable value propositions that address the solution and I’ve got confidence in them. But there’s not the urgency to be able to close them. Now, the reason there’s not the urgency to close them is because I have other things that are higher priorities.
If I can’t crack this code in terms of urgency, it’s not going to happen.
What ultimately happens is the customer says, “I’m not going to make a decision because it’s too complicated.”
I was on the phone today with a sales team chasing a deal with a Fortune 25 company. This is one of the biggest companies in the world. It’s a big deal, but they’re not getting anywhere. They’re not getting the answers that they want. And the reason is because the solution is so big and the value proposition is so complex.
The value proposition is so complex that it overpowers the urgency.
There’s a direct correlation here between urgency and simplicity. If your value proposition is urgent, but it’s not a simple solution, they can still sit there and say no. So I have to make sure I have a very simple solution.
This week on The Sales Hunter Podcast…
What’s the difference between being seen as a spammer versus a resource on LinkedIn?
How do great conversations really get started on LinkedIn?
Have you been a secret fan of The Sales Hunter Podcast? It’s time to review and let your voice be heard!
Copyright 2022, Mark Hunter “The Sales Hunter” Sales Motivation Blog. Mark Hunter is the author of A Mind for Sales and High-Profit Prospecting: Powerful Strategies to Find the Best Leads and Drive Breakthrough Sales Results.