How to Avoid Being Shopped
I Want to Shop Around
“I have great conversations with my prospects only to discover I’m being shopped. We aren’t the cheapest solution, so how do I avoid losing these deals?”
The surest way to stop prospects from shopping around is to close them on the first call; however, that isn’t always an option for various reasons outside of the salesperson’s control.
Regarding prospects shopping your product/service, I find most salespeople are making three common mistakes that are enabling their demise.
Here’s what they are and how to avoid them:
I WANT TO SHOP AROUND OBJECTION
1) Speaking to the wrong person.
Whether a cold call or a warm (inbound) lead, you must adequately identify the prospect’s role in decision-making.
Asking if they are the person who “makes the decision” isn’t enough because their definition of the “decision maker” may differ from yours.
For example, they may feel it’s “their” decision because it’s “their” department; however, they may not have the power to say YES or NO when authorizing the purchase or cutting the check.
When it comes to warm (inbound) leads, you will often have what I call an “information gatherer” calling (they often act as if they are the decision-maker). They will talk with you and get lots of information only to disappear from the radar.
A month later, you find out they turned the info in to their boss and bought from your competitor two weeks ago. So again, you pay this price for not correctly learning how to qualify your prospect’s role in the decision-making process.
2) Not Asking the Other Sales Qualifying Questions.
Not only do you have to ask sales questions that uncover the real buying motive/reason, but you also need to ask purchasing time frame and purchasing process questions.
Let me tell you… I get lots of salespeople calling to try and sell me stuff for my business, and it’s RARE – as in almost NEVER – do I hear salespeople ask these types of questions that were rudimentary when I first got into sales (I think that’s the difference between my day as a straight commission salesperson and today’s salesperson where they have a higher salary and a lower commission rate – but that’s a whole other story)
3) Giving the Best Price.
If you aren’t asking all the right sales qualifying questions and you give your best presentation along with your best price, there is little reason for the prospect NOT to shop you.
However, if you’ve asked the right questions and you’ve identified that A) you are NOT speaking with someone that is the decision maker or B) you ARE speaking with the right decision maker, but their process is to look at a few other options, you have every right to suggest that there may be some added incentives available should they decide they want to move forward with your product/service.
This “incentive statement” will significantly increase the % of prospects that will call you last before making a final decision, as they will want to know what that extra “incentive” may be.
And when they do call you back, they will be at the decision stage, and you’ve now earned the right to use your closing skills to wrap up the deal (assuming you know the proper sales closing questions to ask in this situation)
– Michael Pedone
ELIMINATE CALL RELUCTANCE
- How to Warm Up and Close Cold Leads
- Eliminate “No, Thanks,” “Not Interested,” & “We’re All Set” Responses
- Neutralize Gatekeepers & Get Voicemails Returned
- Ask Engaging Questions Instead of Probing
- Improve your Qualifying Skills
- Give Stellar Presentations & Handle Objections
- Close Follow-up Calls and Get Targeted Referrals
- How to Set & Achieve Your Toughest Sales Goals
- Improve Your Time Management Skills