Seasoned sales pros will have a longer list of reasons people don’t buy, but here are the six most common reasons I know.
- Insecurity. The positive feeling your presentation creates must outweigh the negative feeling they have about giving you their money. For most people money equates to security. For some there may have been a period of lack in their pasts. So, they don’t part with their money easily. Your job is to help them rationalize that they’ll be better off with the benefits of your product than they will be if they hold on to the money.
- Indecision. Some people are never master good decision-making skills. They’re so afraid that they just freeze, like deer do in oncoming headlights. Your job is to make them comfortable with the concept that any decision is better than no decision. Keeping themselves in limbo by not making a decision is really a time waster for them (and you).
- Procrastination. My definition of procrastination is this: Living yesterday. Avoiding today, and thus ruining tomorrow. When the benefits of your product are truly good for your buyers, it’s your obligation as a sales professional to help them overcome procrastination and get on with enjoying the benefits.
- Money. Either they have it or they don’t. If they don’t, and you can’t help them discover a way to get some, the sale is dead. Top sales pros, though, are experts at helping people get creative about coming up with the money when the product is truly beneficial for them.
- They were never asked. Say what? Yep. When surveyed after non-sales situations, a very high percentage of buyers ratted you out. They said they were never asked to buy. Hence, my lesson about asking, clearly, concisely and directly for the order, their money, the business — whatever phraseology you use in your field. You must ask!
- Fear. The first five reasons above could all fall into this reason. When people are afraid they are uncomfortable. When they are uncomfortable, they can become confused as to why they’re even talking with you. And, as we cover in great depth in my new book When Buyers Say No, “a confused mind says no.”
There are other reasons people don’t buy, but these are the most common. Work on overcoming them and you’ll close more business.