A major frustration for salespeople is dealing with prospects that can't seem to make a decision. Perhaps the biggest of those frustrations is prospects who indicate the desire to make a decision by a certain date, but when the date arrives, they invariably need more time.
How often have you been on the receiving end of a "I need more time to make a decision" request from a prospect?
In those situations, it's easy to blame the prospect for being indecisive, uncommitted, or simply a procrastinator. But, does the prospect deserve all of the blame? Shouldn't some of it fall on your shoulders? Perhaps even the major share?
As the sales process begins, examine the prospect's willingness to make a timely decision. When you are digging into and defining the prospect's need, be sure to explore the length of time the need has existed. If the need has existed for some time, why has the prospect waited until now to address it? Oftentimes, needs that have gone unfulfilled for long periods of time generate a tolerance for the underlying problem. If the need is relatively new, is the prospect really ready to move on it? When a need is relatively new, prospects often have not yet admitted to themselves that they need outside help. They either think the problem will simply go away with time, or they wonder if a salesperson has a solution they might be able to implement themselves, without buying anything from you.
Continue by investigating the magnitude of the consequences of fulfilling or failing to fulfill the need. Both will give you some indication regarding the prospect's sense of urgency to make a decision. If the consequences are meager – whether positive or negative - the prospect's motivation to make a decision is also likely to be meager. On the other hand, if the consequences are significant, then the prospect's motivation to make a decision, and make it in a timely manner, is also likely to be significant.
Finally, investigate the complexity of the prospect's decision-making process. This is easily done by simply asking the prospect to tell you how they make decisions about the kinds of need you are discussing. The more people involved in the buying decision and the greater the number of corporate levels participating in the decision, the lengthier the process is likely to be, and the more likely decision target dates will be missed. The need to do a thorough job of identifying the prospect's decision-making process (including the "who," "what," "when," "where," and "how" elements) should be obvious. The more you understand the process, the less likely you'll be surprised or disappointed by it.
If you have done a thorough job of examining the items above, you should know whether you have a motivated buyer in front of you who is likely to make a decision in a reasonable amount of time, or if you really have nothing more than a “tire kicker” who likely to need more time to make a decision... or never make one at all.
In our next issue: Is it your prospect who is indecisive – or is it you?
-- by Jeff Nay