Sales - A 'No Brainer'
We’ve all heard the term. If something is a ‘no-brainer’ it’s basically an easy decision. You don’t have to use any brain power to work out that you should go ahead. If somebody said, give me ten dollars and I’ll give you hundred straight back and held it out to show you, you’d probably ask, ‘What’s the catch?’ But if they signed you a guarantee that all you needed to do was hand them the money and that as you handed it over, they would hand the hundred over in the other hand at the same time, it would really be a ‘no-brainer.’
Many sales opportunities are lost because the customer actually makes no decision. They don’t see a compelling enough argument to go ahead. They aren’t convinced so they hesitate, deliberate further or just hold off because they can’t see the quantifiable reason to act. In fact, findings by Thomas & Company Incorporated* showed that of over 700 proposals that were presented, 55% were listed as no decision / pending. Eventually, only 2% of those ‘no decisions’ were turned into a sale. The remaining 98% were lost. In this example, the sales people were spending over half their time trying to sell a service to a prospective client that won’t buy.
Sometimes the prospective customer throws up excuses for not making a decision. You can help cut through these excuses by helping them see a compelling case to go ahead. Organisations tend to spend the money on something even if it isn’t with a competitor in your field, they will invest it in something. These days you are not just competing with the other companies in your field, you’re competing with every other organisation out there that has a product or service to sell. If you’re selling software, someone selling hardware could take the budget you’re after. If you’re selling training, then you are also competing against someone selling interior design or furniture. Organisations have limited funds and whoever can provide the most compelling argument to go ahead because of the amazing benefits will get the best chance of taking the budget.
If you can make you're offering such a compelling business proposition, you may even create a budget out of nothing. You know the sort of logic – if you can’t afford the extra rent but you decide to quit smoking, there’s the money for the extra rent.
No brainers are the key to helping prospective customers or existing customers agree to the sale. In fact – help them want to ‘buy’ rather than be sold to. Create some added tension by declaring that you only have enough for three customers or a limited time to get on board. If these tactics are plausible, real and can be substantiated, then they add even more weight. I’m not talking about the high-pressure sales techniques of ‘timeshare’ sales as an example but real, limited opportunities that still allow the customer to be in charge, feel in control and able to use their decision-making preferences.
To read more about this topic and other great sales techniques, check out the book: ROI - The Sales' Person's Secret Weapon
*This data is available from www.evancarmichael.com where a similar study by customer-centric systems was referred to as showing that between 60-80% of all prospects or customer losses are due to ‘No Decision.’ Like all techniques, I strongly encourage further study to develop your skill and confidence and referring to this website and others will be well worth your while.
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