So, let’s assume you have taken a prospect through your sales process, it has lasted the length your normal sales cycle and they still haven’t moved forward. What do you do? If you feel so inclined you may want to try to move the prospect to a decision. The benefit to you is saving everyone’s time especially your own. If you receive a “no” from the prospect it does not mean that you have to write them off forever it just means they are not ready to move forward right now. You can always follow up with them at any time. You can then use the time you were spending on that prospect to put more prospects in the top of your pipeline. So here are four strategies you may want to consider for a stalled sale. If you like any of them use what works for you and don’t get hung up on the ones that won’t work for you.
The first strategy is to uncover the obstacle that is blocking their way forward. Simply ask the prospect why they are not moving forward with your recommendation.
(Prospect’s name), we’ve had a number of meetings. We had an initial get to know you meeting over the phone after that we had a second meeting with your sales leadership team and then we conducted a focus group with your sales staff. From that we were able to present you with a proposal. We believe we could add value based on our understanding of your situation as well as our experience in working with other financial services firms that are similar to you. (Prospect’s name), just out of curiosity what’s preventing you from moving forward?
The second strategy is to ask the prospect for their advice on how they would like to see you follow up with them moving forward. If you never want to ask a prospect to make a decision because you feel like you are being pushy or salesy you never have to. Just ask them for their advice and they will tell you what to do.
(Prospect’s name), we’ve had a number of meetings. We had an initial get to know you meeting over the phone after that we had a second meeting with your sales leadership team and then we conducted a focus group with your sales staff. From that we were able to present you with a proposal. We believe we could add value based on our understanding of your situation as well as our experience in working with other financial services firms that are similar to you. (Prospect’s name), what advice would you give me on how to follow up with you moving forward?
The third strategy is to proactively bring up the concern that you think may be causing them to hesitate. In all of your interactions with the prospect they may have given you a cue or a clue as to what is holding them back. Sometimes when proactively bringing up the concern you think the prospect may have your instincts are correct and you can address the concern. Other times through bringing up the concern you think is blocking them from moving forward you uncover their real concern. This is your ideal scenario.
(Prospect’s name), we’ve had a number of meetings. We had an initial get to know you meeting over the phone after that we had a second meeting with your sales leadership team and then we conducted a focus group with your sales staff. From that we were able to present you with a proposal. We believe we could add value based on our understanding of your situation as well as our experience in working with other financial services firms that are similar to you. (Prospect’s name), I sense that you are concerned about our fee structure. Is that right? Let’s talk about that.
The fourth strategy is to simply ask the prospect for a ‘yes’ or a ‘no’. There are instances when a prospect will drag the sales cycle on and on. They are indecisive and may never be happy with what they are offered. In the end you need to determine are they a suspect or a prospect.
(Prospect’s name), we’ve had a number of meetings. We had an initial get to know you meeting over the phone after that we had a second meeting with your sales leadership team and then we conducted a focus group with your sales staff. From that we were able to present you with a proposal. We believe we could add value based on our understanding of your situation as well as our experience in working with other financial services firms that are similar to you. (Prospect’s name), I have to ask are you curious or are you serious? If implementing this sales training is not a priority at this time no problem, we can revisit it at another time. But, if it is a priority, how about we talk about the next steps.
Moving a prospect to a decision is one of the most liberating things you can do in sales. You can finally try to determine why a prospect is not moving forward to the next step with you. They can stop ghosting you and you can move on the next prospect. Having had thousands of these conversations with prospects in over 36 years of sales one thing I have observed is that when a prospect feels like you are willing to walk away, they often let down their guard and are forthcoming with the real reason they are not moving forward with you. The benefit to you is if you are able to address the real concern you may be able to move to the next step, if not spend your time putting more prospects in the top of the pipeline. What to do now! Identify one stalled sale and try to move it to a decision.
