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Whether their fears real or perceived, they are real in the prospect’s mind. Consequently, if fueled by outside influences can result in the total loss of the sale.
The sales person must learn to recognize fear as a natural step in the sales process. It needs to be anticipated and identified or the sale can be placed in serious jeopardy. Once identified you need to be sensitive to the prospect's needs, empathize with their concerns and explore viable alternatives.
The Implications to the Sales Person
Many sales people are reluctant to handle negative or difficult situations. They will get the order and hope for the best. They know the possibility exists for the development of buyer’s remorse, but they hope for the best. Rather tan waiting to react, the sales person should be proactive in anticipating this real phase in the buying process.
It is up to the sales people to probe and determine the underlying causes and reasons behind the fear. Often these reasons are unfounded, but there also can be solid reasons behind the fear. It's up to the sales people to resolve these fears one by one until the prospect has developed absolute confidence in their decision.
The Application
There are several signals that indicate fear is developing in the prospect or may be reason to cause fear. While there is a natural tendency to question one’s own judge, sales fears can be intensified in situations when a sales person has either pressured or manipulated the prospect into the sale. Some of the principle causes of fear include:
Size of the investment
The long term impact on their business
A significant change in their operation
The negative influence of a competitor(s)
A new product concept
The input of several decision makers.
Another natural tendency is the natural fear of change. Bringing aboard a new supplier or product brings an unknown quality about it. There are expectations for the best, but fears about the worst. The sales person should anticipate these reasons and have prepared responses to counter these fears and to ally them in the prospect’s mind.
Something to Think About:
Dealing with sales fear or buyer’s remorse is reality for most sales people. Consider the following points when considering how you intend to handle this aspect of the buying process:
1. Have you observed situations where a customer’s fears has jeopardized an order or even resulted in the loss of the order? What happened?
2. What is your response when confronted with a customer’s fear of the sale? Why? What is your reasoning?
-- By Timothy F. Bednarz, PhD
Timothy F. Bednarz, PhD is the Principal Partner of the American Management Development Group. He can be reached at 800.654-4935 or amdg@charter.net. Find out more at www.LetsTalkSelling.com.
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