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Three reasons why prospects delay signing the dotted line that costs salespeople a fortune

Monday, August 16, 2010
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Mind Capture

By Tony Rubleski
President & Author,
Mind Capture Group
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"If you don't have a system for selling, you're at the mercy of the buyer."
- David Sandler

I have often said to audiences, fellow business owners, nonprofit leaders and sales teams that I'd much rather hear a quick "no" from a prospect versus a long maybe or "we need to think it over." In sales, which we're all in these days regardless of profession or industry, time or what grizzled sales pros call "opportunity cost" is either our friend or foe.

The challenge in today's changed economy is that prospects are now taking even longer to make decisions based on a variety of new issues including tighter budgets, play-it-safe mentality and a media landscape that continues to hammer home frugality and finding a bargain even if the initial dollar savings aren't really significant due to the amount of extra time wasted on research in making a decision.

Here are three key reasons why prospects delay the sales process and how to confront and deal with them to increase your odds of serving more people, and bottom line - increasing sales!

  1. Poor follow up.
  2. They don't have enough evidence or proof.
  3. Fear of making a bad buying decision.

The first area relates to how far too many organizations get a lead or prospect to raise their hand and then drop the ball. Poor follow up is epidemic in most businesses. There are numerous reasons for it, but let's look at a couple of key ones to be on the lookout for.

Yes, it's hard to believe, but when you combine an untrained and unmotivated employee you have the makings for what I call "leaks in the boat syndrome." A little strange sounding, but here's what I mean. I'm often brought in by organizations to help them generate leads and train their sales force. What we often find is that many of the sales reps generate leads both on their own and also each day via inbound methods such as e-mail or telephone inquiries. Here's the startling thing: most of these leads are followed up on only one to two times and then forgotten. This is a huge mistake.

Top sales reps and firms know that it often requires multiple follow ups using a variety of media to stay on the prospects radar and eventually move the right prospect over the finish line to signing the dotted line. While we all wish it was easier and everyone called us ready to sign up, this is harder to find in the age of digital and great choice. By using a system for follow up you greatly increase the odds of converting more prospects versus giving up too soon. We use and teach clients to create a 12-month follow-up plan consisting of several touch points including e-mails, articles, the telephone, cards, a company e-letter and special mailings/updates. Yes, it requires work, but the payoffs are immense in the form of increased sales.

The second main reason why prospects stall or delay is that they often don't have enough evidence or proof to feel comfortable making a buying decision. This is an area that ties directly into all of my trainings and books. We must never forget that a prospect must feel and believe that we are the right solution to a problem before they'll ever choose us. One of the smartest ways to increase the odds of this happening is to use superior marketing proof or evidence. Some of the best forms of evidence include:

  • Video testimonials
  • Years in business and number of clients
  • Case studies
  • White papers, articles or books
  • Positive media press or awards
  • Strong product or service guarantee

The third main reason why prospects stall in the sales process is the fear making a bad buying decision. Not only do we all dislike wasting our time and money, there's often something lurking in the shadows that most people foolishly ignore or downplay in the buying process. It's called fear. The stakes are even higher these days versus when the economy was humming along nicely.

Today, with a tightened economy, many people within firms are afraid that a bad choice could cost them in multiple ways including their own job. Yes, this may sound harsh, but with high unemployment and lots of good people seeking jobs, there is no shortage of willing and able candidates. You must remove the potential fear and doubt or risk potential delays in the sales process. 

Bestselling author Tony Rubleski, is the president of Mind Capture Group based in Spring Lake. His third book titled, MIND CAPTURE: How to Awaken Your Entrepreneurial Genius in a Time of Great Economic Change will release this September. For feedback and/or column ideas he can be reached at: This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

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Columnist Bio

Tony Rubleski
President
Mind Capture Group
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Tony Rubleski is currently the president of Mind Capture Group, based in Spring Lake, Michigan. He focuses on referral, retention and repeat marketing strategies for a wide range of industries including real estate, insurance, telecom, casinos, retail, direct sales, banking to a wide range of entrepreneurs and sales teams. A highly sought after speaker and agent of change, his live seminars and keynote talks continue to receive rave reviews from meeting planners coast to coast.

His core expertise, teaching and work focuses on the topic of ‘Capturing’ customers minds. He’s been called “real-world”, street smart, edgy, controversial, clever, funny, direct, but never boring. His work has been featured in various Radio, TV, Magazines, web based and newspaper outlets ranging from Bottom Line Magazine, The Detroit Free Press, the FOX TV network, Entrepreneur Magazine Radio, PR Web.com, the Inside Success Show to various interviews with some of the highest paid direct marketing and sales minds in the world including Jack Canfield, John Assaraf, Dan Kennedy and Larry Winget.

He’s a 1994 graduate of Western Michigan University with a degree in marketing. In addition, he writes regularly for several national magazines on sales and marketing related topics and he’s also a faculty member at the US Chamber of Commerce Institute program (IOM) where he teaches association and chamber executives on marketing and technology related topics.

He’s presented to hundreds of audiences including some of the biggest chambers of commerce in North America, and associations in the U.S. and at private boot camps with a price tag of $2500.00+ per attendee. His first MIND CAPTURE book (2006 Morgan James) gained rave reviews from many top sales and marketing minds including Dan Kennedy, Brian Tracy, Ivan Misner, to Joe Vitale and many others. In July, he’ll be releasing his second book titled, MIND CAPTURE: How You Can Stand Out In The Age of Advertising Deficit Disorder.

In addition, he was invited to be a part of the 2005 bestselling book release, Walking With The Wise Entrepreneur” in which he was selected to be a contributing author along with Donald Trump, Bill Gates, Dr. Laura, Brian Tracy, Chuck Norris, Dr. Wayne Dyer and many other well known business personalities.

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