In this article, we discuss the theory that a prospect might want what you are selling, if you (as the salesperson) are willing to walk away from the table first. It may sound counterintuitive but 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 ‘think it overs’ at several stages in the sales process and maybe you get 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.”
What is important to understand about getting ‘think it overs’ is the mindset of your potential buyer. 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 and see if they can do what you can do.
- 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, eliminate ‘think it over’ as an option. Let your prospect know that when you finish the next meeting, next conversation, the final presentation, they will have everything they need to make a decision. 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- yes or no. Then simply ask what objections they have to that process.
This one key will help you close more business, more quickly at higher margins.
For more tips on how to uncover a prospects real reason for wanting to 'TIO' watch our Sales Guy Unplugged video on the "Question Behind the Question".
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