In the world of Out-Of-Home sales, it's not uncommon for salespeople to secure a buying decision from a prospect one day, only to receive a call the next day, with the prospect wanting to put the sale on hold or, even worse, cancel it altogether. It's a frustrating situation, and you may have experienced it too. So, what went wrong in these cases?
Most often, these abrupt reversals occur because the prospect had second thoughts. Perhaps an unanswered question from an earlier stage of the selling process resurfaced, or maybe external factors influenced their decision. In the past, some salespeople used a strategy known as the "get the order and get out" approach. The idea was to close the sale, get the order signed, and return to the office as quickly as possible to process it. The goal was to ensure the creative was submitted and executed promptly before the customer had a chance to back out.
While this strategy may have been somewhat effective in the past, it's not conducive to building long-term client relationships. Instead of trying to trap the buyer into a sale, a more effective approach is to ensure the prospect is entirely comfortable with the proposed sale before finalizing it and eliminate any potential reasons for them to back out.
So, how do you achieve this? In honor of the coming Halloween holiday let me share a strategy that in all transparency typically scares our new clients…at least at first! Instead of just reiterating the benefits and advantages of OOH and the selected locations, you should give the prospect an opportunity to reconsider their decision before sealing the deal. What?! This might sound counterintuitive, but it's a technique worth considering.
By encouraging the prospect to review their decision and addressing any lingering doubts or compromises, you accomplish three essential things:
1. Enhanced Credibility: You demonstrate confidence in OOH advertising and your consultative sales process, which enhances your credibility.
2. Prospect Reconfirmation: This approach allows the prospect to reconfirm their choice and express any concerns in a pressure-free environment.
3. Immediate Issue Resolution: If the prospect does have doubts, you can address them while you're still face-to-face, which is often more effective and efficient than dealing with issues over the phone.
Here's an example of how this might sound:
You: "Bill, I look forward to working with you and your company. We can get the creative produced and ready for your approval tomorrow. Before you sign the contract and we schedule to make that happen, let me ask you a question. What could come up that would cause you to call me and tell me to put this on hold?"
Bill: "I can't think of a thing."
You: "Are you absolutely sure about the 13-period agreement, considering you initially inquired about a 6-period schedule?"
Bill: "I'm sure. We're eager to get these boards up, and I like the better terms I get for that 13-period commitment. Let's get it going."
Incorporating this approach not only prevents buyer's remorse but also fosters trust and transparency in your client relationships. It's a proactive way to ensure that your clients are not just making a purchase but making an informed and confident decision. Don't be scared to give your clients a chance to reevaluate their choices; it might just be the key to a successful, long-lasting partnership.