3 Reasons Prospects Say No to You

I want to start by clarifying that often people say no for the simple reason that they don’t like the product or service.

As I often suggest, picture yourself in a prospect’s shoes. Think about how you make decisions with your money.

Every time you read a menu and choose one item, you are in effect saying no to every other item on it. It’s not always that the menu did a poor job selling veal piccata. You just didn’t want it that night.

So, that said, I want to focus on why prospects say no to you. These are the times where you have what they want, but they don’t want to buy the product (such as life insurance) from you.

The sale was yours. And you lost it.

Here are three reasons why.

You told them what they wanted.

The biggest mistakes you can make are assuming you know what they want and telling them what you think they want.

Thing is, you could be right every time with every prospect. But that doesn’t matter.

Even if your hunches are right, the customer has to be the one who says what they need. Otherwise, you can come across as a know-it-all who is “dealing” to just another prospect.

By letting their concerns drive the meeting, the prospect cannot walk out thinking you failed to address their needs.

People will recognize that you listened to what they want and took that into consideration when asking for the sale.

Which leads me to the next point.

You didn’t ask them for the sale.

You probably have a few different ways of asking where a prospect is in their decision making process.

While there is certainly a useful purpose in doing so, you also run the risk of allowing a prospect to settle in and justify their indecisiveness.

In some cases – and under the right conditions – asking outright for the sale works for people who are just waiting to be asked. But I can’t overstate that you have to employ this tactic carefully and tactfully.

A good time to employ this tactic is when there isn’t anything left to say. You listened to their concerns. You made your pitch.

At that point, it’s not really worth rehashing everything over again when it doesn’t advance the conversation to its natural conclusion.

Besides, you wouldn’t be speaking with them in the first place if they weren’t interested in buying from you, right?

You didn’t put a value on the product or service.

I recently wrote to you about how important it is to put a value on your product or service.

Again, picture yourself as a consumer. How many times did you pass on buying something after just seeing the price?

If this is the first piece of product information you are giving prospects, of course some are going to walk out on the sale.

Here’s a better way to go about it.

Quantify in a dollar amount what their problems are costing them. Present how your product and service will solve their problems. Then quantify in a dollar amount the value of their problems being solved.

So when it comes time to introduce the cost, to them the problem is more to the effect of, “Man, is this price too good to be true?”

Be valuable.

John McCarthy
Managing Editor, Leads4Insurance.com

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