We’ve all been there, a real-life version of the popular game show. You’ve done your work, and have arrived at that final fateful stage of the sales.
Three possibilities, three doors:
- A positive Decision
- A negative Decision
- No Decision
While it is clear which door the individual sales person want, the question is how to get that. Much of that will depend on the state of the buyer and their organization at the time of decision. Broadly speaking three sates: 1) Actively looking, those people out there consuming all the content you dangle in front of them as they willingly march down their buying journey. You know all about these folks, 57% of the way… blah blah blah. They know what they want, why, and they are geared to get it. 2) Passively looking, they know they have to make a purchase, but they are not driven by the same urgency as their Active cousins. The things these two groups have in common include that they know they have to make a purchase, one now, the other sometime in the next 12 to 18 months. The other, is that they are both at the point of choosing the product, and will most likely end up with doors number 1 or 2. The other thing to consider is that these two groups make up less than 30% of the over target market.
But if you are only selling to this small group of buyers, an informed and opinionated set of buyers, you are most likely facing a decision based on price, features, or both. The good thing is that while you may not like the decision, at least you’ll get one.
What about the remaining 70%, the Status Quo, the complacent, set in their way, completely oblivious and removed from the market? Unlike Active or passive buyers, these people are not even thinking of playing, never mind deciding. Which is one of the key factors behind the high and rising number of deals that end up behind door number 3, no decision! According to sources some 30% of opportunities going into the top of your funnel will end in no decision. Take out the Active and Passive folks, who will make a decision, even when not in our favour, this means about half of deals initiated with Status Quo buyers go nowhere. Not the best use of time or resources.
While there a host of reason for this, but I think the key is what we are selling these folks. Because most sellers are practiced at selling to Folks who have made the decision to act, and are now down to selecting a product. Status Quo people are much further back down the road, they need to be convinced that a change is necessary. When we are successful at doing that, then they enter the product, or if you like, the solution, selection phase. The reason half don’t make a product decision is we were not successful at showing them why they need to leave the safety and warmth of their current means of doing things. Without that, they don’t need to decide on a product, feature, price or any of the common features of a buyer initiated and driven sale. Active and Passive buyers do most of the lifting, they just need someone to place an order with once they made up their mind.
Success with getting Status Quo buyers rests in being able to engage them on how they do things now, how that aligns with or detracts from their objectives. If we fail to get them to understand that there is another way to achieve those objectives, there is no need for a product decision.
Forget what makes you successful in winning what’s behind doors number 1 & 2, to win what’s behind door number 3, you need to create a reason for them to have to decide, this is about everything but the product. Active and Passive buyers have made the decision to decide on their own, leaving the sellers who service them no opportunity to exercise by sales people who are only selling to these buyers. Frankly a challenge for many inbound types, and others.
Adding to the challenge is that as soon as we go “product” with these buyers, they turn off, for them that is putting the cart way, way ahead of the horse. Your options need to look to their internal processes, and how those are enabling or preventing them from achieving current objectives, or objectives you can get them to adopt. The half of Status Quo buyers who choose not to make a decision, are not rejecting your product, but your inability to persuade based on anything other than product.