When prospects decide they know enough - about what they want - to ask the right questions - they become willing participants in a sales conversation. So even though they engage with a salesperson later in the process, the interaction will be more productive if you play by the new rules.
Rule #1 Don’t force the interaction.
One way to force interaction is to withhold pricing information. If you withhold pricing information you force the buyer to talk with a salesperson. Do you feel good when a seller makes it hard to get the information you want?
Of course not. And your prospect won’t appreciate it either. In fact, they will likely go elsewhere; to another vendor or Website where the information is gladly shared. Pricing should be available through self-service just like any other type of information.
If your pricing is complicated, or you offer too many options, or you don’t want competitors to know, it doesn’t preclude you from giving your prospect “self-service” but non public access to pricing.
You can and should make it easy for your prospect to learn your pricing with a self-service model (see EchoQuote). When you don’t force prospects to do things your way, it builds trust and confidence.
Rule #2 Don’t inadvertently sabotage the sale
When salespeople are invited late in the buying cycle, the prospect will have formed opinions shaped by what they’ve read or seen. They’ll ask questions to see how your product or service fits with the conclusions they’ve drawn. Make sure you don’t unwittingly insult your prospect by discounting a preference or aversion.
After answering yes, you might ask, what other features are you interested in? Don’t drag the prospect through all the benefit statements your marketing team has dreamed up. Benefits are more important at the beginning of the cycle while prospects are educating themselves. If you’re talking with them late in the cycle, chances are they know the benefits. That’s why they’re talking with you.
And finally…
Rule #5 Don’t try to wrestle control away from the buyer
Be grateful they’re taking control. It means they’re serious. Use it to your advantage as in Jujitsu where you learn to “avoid pitting your strength against theirs directly; instead, use your skill to step aside and turn their strength to your ends.”
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Out of necessity, buyers used to rely on salespeople to get information on products. Life has changed. It will not change back. Today, decision makers don’t want to meet early in the sales cycle when they’re still figuring out what they need.
Prospects want to investigate their options when they have time (like in the evenings after dinner). And of course, they can do it that way because the information is readily available without the intervention of a sales rep.
It’s not that they don’t want assistance. It’s that they don’t want it until they have enough information and insight to know who they want to talk with and why. The last thing they want is to do their brainstorming in front of a sales rep.
Salespeople will grab onto a prospect with a need faster than a dog to a bone. And they won’t let go until the prospect makes their decision or stops returning their phone calls. Naturally, prospects shy away from this.
When it’s too soon in the buying process, prospects don’t want to be pestered by a salesperson. They know that salespeople will ask questions they’re not ready to answer.
Don’t start stating your case until you learn more about their motivations and leanings. You might focus on how your solution enables the prospect to do more (run more reports, slice the data more ways) when what they really want is to do less (save time, eliminate steps, simplify).
What’s most important at the end of the buying cycle is to listen before you talk.
Rule #3 Don’t push the prospect faster than they want to go
If you’re fortunate to engage with a prospect in the early stage – don’t assume you can control how quickly they move through the buying cycle. You can’t. But that’s okay. This is a chance to build trust and value. Help them make their way through the process.
Helping doesn’t mean you “check in” on them every week. Provide information that helps your prospect even if (and maybe especially if) it doesn’t help you specifically.
Learn about the world your customer lives in. Have you read a book recently that you think could be relative to their business? Did you meet someone who holds a similar position, or who might be a partner, or a customer? Did you hear about an event they might find of interest? Let them know you’re thinking of them. Show them with your actions that you’re along for the ride – not just looking for a quick close.
Rule #4 Don’t move slower than the prospect wants
Don’t be surprised if the prospect is close to a decision when they finally reach out to you. You don’t have to go through your entire pitch. Spare them the details they already know. Take your guidance from what the prospect tells you or from what they ask.
If they say “I want to make sure I can access the software without being online” answer yes if that’s the case. Don’t answer “Yes you can. You just use a guided interface that lets you store…”
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Tool Talk Newsletter: March 4th Issue
How to Sell Late in the Buying Cycle
