In today's blog post, we discuss the technique of going for the "No" early in the sales process. It may seem counterintuitive, but countless studies have shown that humans desire what they can't have.
When we go for the "No", we force a prospect to think of the value we bring to the table as salespeople. Are they really interested? Will something more come from this meeting? Go for the "No" early to ensure that you are on the right path with your prospect to increase sales, or move on to the next one!
One of the keys for more effective selling is going for the "No" early in the sales process. I learned this concept years ago especially when I was vulnerable to "Think It Overs" (TIO). I would get TIOs at several stages in the sales process and maybe you have received them as well:
- On the initial phone call when you’re trying to get an appointment –
“Let me think it over. Give me a call next week.”
- At the end of your initial meeting –
“This sounds really good and something I should consider. Let me think it over and I’ll get back to you in the next couple of days.”
- When you finish your presentation and you ask for the sale –
“You made a very compelling presentation and we are impressed with your depth of knowledge and your very creative solutions to our problems. Let us meet as a group and go over this one more time and crunch some numbers. Let’s plan on talking next week.”
These TIOs are keeping you from being more effective in your sales process. That’s nice to know or consider but the question becomes,
“What do I do about it?”
Your potential buyer will tell you that they need to "Think it Over" because:
- They really don’t intend on making any changes, but you impressed them with some information that they want to take to their current provider.
- They have a "need for approval" and instead of telling you they are not interested, they want to let you down easy. Telling you they want to "think it over" gives you hope and get’s them off of the hook until the next time you talk.
To fix the problem, you must eliminate "Think it Over" as an option for your prospect!
Let your prospect know that when you finish the next meeting, next conversation, or the final presentation, they will have everything they need to make a decision then and there.
You can tell them that you will be prepared to answer all of their questions and when you are finished, they will be in a position to make a decision – a "yes" or a "no." Then, simply ask what objections they have to that process.
No hard feelings. Nothing personal. Just business.
This one key will help you close more business, more quickly, and at higher margins.