Written by Sean McPheat |
The sales interaction went well.
The prospect seems very interested, and you feel that you have covered all of the possible objections.
However, the prospect sees no reason or need to act NOW.
Even though you can expose problems the buyer is having, unless the prospect can see an urgent reason to act today, the natural reaction is to stall, to wait.
Below is a powerful and effective way to create a sense of urgency in a sales interaction.
The Cost of the Problem Compounded by Time = Urgency
The most effective way to create a sense of urgency in the mind of the prospect is to help the prospect understand that the cost of their problem increases with time.
The prospect must understand that the longer they wait, the worse and more costly the problem becomes.
First, you should be using a professional sales interaction, one that helps to uncover problems and expose pain.
Then, as you uncover the prospect’s problems and pain, you need to link them to the negative effects of time.
As an example, let’s imagine one of the benefits your product offers is that it helps the client save money on his or her delivery costs.
What you need to do first, is take that benefit and turn it around to expose the real problem.
Turn it Around
As an example, if they will save money with your product, then they have to be losing money without your product.
During the sales interaction, you need to help the prospect visualise and relate the loss in real money and in daily terms.
Therefore, you then need to take that money they are losing and put a tangible figure on it.
Let us assume that the client is losing approximately £30,000 a year due to not owning your product.
To tell the prospect that they can save £30,000 a year is ok, but it does not create urgency.
However, to help the prospect understand that they are spending; that they are throwing away £166 every single day that they are open…will spark motivation.
If your product costs £1,500, the prospect is going to spend more than the cost of your solution in less than ten days!
Link the cost and value of the problem to the erosion time, and help the prospect see that time truly is money—their money!
Originally published: 18 May, 2018