Archive for February, 2012

The Problem With Stalls and Objections

February 24, 2012

ImageThe waiting game for buying decisions can be very frustrating. One way to do away with the frustration of the ‘waiting game’ is to first discern the different between a valid objection, and a ‘stall tactic’.  “I will get around to it eventually” is NOT an objection. It’s nothing more than a ‘stall tactic’.
An objection is something along the lines of the following examples:  “Unless it comes in red I’m not interested”. Your facility is too far away to guarantee on time delivery”. “You’re company doesn’t have the experience our current supplier does”. “Your warranty doesn’t cover labor costs, just parts”. Thinking it over, or waiting to get around to it are ‘stalls’, plain and simple.
If you are getting stalled by prospects that tell you that “They’ll get around to it…”, understand that something went wrong in the early part of your sales call. You probably told them, showed them, and proposed to them, but at the end of the call your prospect stalled by using some excuse not to buy today. Your problem is that you didn’t bother to address these ‘stalls’ until it was too late to do anything about them.
My hypothesis when prospects stall is that either the prospect is not the final decision-maker, doesn’t have any money to spend, or doesn’t think what you showed them is worth the effort to take action now. I’m not a mind reader, and I don’t carry truth serum on sales calls, so I’m at a loss to find out why prospects stall, and what’s really behind the stall in the first place. What can we do to keep our prospects from stalling on making a decision?
I’m thinking why not start by asking prospects up front about the problem they have, how much the problem costs, what you might do to solve it. And in the event you can solve the problem for X dollars, what steps would you have to take to do business? Have an upfront agreement of sorts to do away with the ‘stall tactics’ prospects use to throw us off track’ when they can’t, or won’t make a decision. By the way, a decision not to make a decision, is still a decision.
Getting everything out on the table up front, and negotiating the terms and conditions of doing business before showing and proving your solution/product will greatly reduce the possibility of your prospect using ‘stall tactics’ to avoid making a decision. It takes courage to do this, but well worth it when look at the personal cost of aggravation when you don’t get the deal after having put so much work and effort into working a sale. My advice? Try getting a decision from prospects to buy from you sooner rather than later…