In sales. there will certainly be situations where the buying consideration comes to a halt and your prospects walk away.
Which raises the question: How do you reengage prospects after some amount of time has passed?
At Shore Consulting we teach our clients The Buying Formula™, a formula for how people make purchase decisions.
People buy when:
When customers are highly dissatisfied with their current situation (CD), and they see a tremendous amount of promise in your solution (FP), they are more inclined to overcome their fear-based doubts, accept the cost, and pay the price, both financial and mental (C + F).
One of the first things you can do is use The Buying Formula™ to determine whether your prospect is still a qualified lead.
If your customer still has a problem that needs to be solved, she’s still a qualified lead, and it’s only a question of when she buys and whether she buys from you.
Life, as you may have observed, is complicated. At the same time that your prospects are moving through their buying progression, they are dealing with a difficult boss, problem teenagers, health issues, and an assortment of other stresses associated with adulting.
I was shopping for a nice road bike and was very close to making a purchase. On the very morning I was planning to head back to the bike store (for the third time) with the intention of purchasing, I injured my calf muscle in a weird misstep on the staircase.
I couldn’t even walk, let alone ride a bike. That injury cost me four months of rehab.
The salesperson at the bike shop thought he had a sale. He knew I was very interested, and I’m sure he expected to see me that day.
And then I ghosted him. Life got in the way, and he didn’t see me for months.
What are you going to do if you are the sales professional?
How do you reconnect with a prospect if it’s been months since your last conversation?
The key is to go back to your initial conversation to understand your customer’s original motivations for speaking with you in the first place.
Imagine if your conversion rate was just 5%. That could make the difference for your quarter or year.