Risk and Fear over Risk vs. Reward


/* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:”Calibri”,”sans-serif”; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;}

Risk vs. Reward use to be the way prospects and customers would make decisions.

 

“Does the reward I’ll get outweigh the risk (perceived or real) of doing this?”

 

Now instead many buyers are deciding which holds less risk; purchasing absolutely nothing or doing something.

 

In a world where people are concerned that making the wrong decision will cost them their job, don’t underestimate the power of risk over the sales process. What you, as a salesperson, see as indecisiveness may instead be fear.

 

NO ONE wants to make a decision when they are afraid, plus they are certainly not going to come right out and say “I’m afraid to make this decision” (well, I take that back, that depends on the type of relationship you have with them – but it is less likely ESPECIALLY if they’re a prospect and not an existing customer).

 

Change

Anytime a person has to make a change, there is going to be underlying risk – so what changes are you asking your prospects and customers to make?

·         New Vendor

·         Different (or Additional) Product

·         Payment Terms/Method

 

Now it is up to you to create a reality for the prospective buyer where these changes don’t create fear and doubt in their mind.

Don’t miss the signs, ask the prospect if that the decision they are being asked to make has a level of fear attached to it – because that isn’t how YOU perceive it. Instead talk about it openly with them.

“_____, many of my customers seem to be in position where they are choosing between the risks of doing something vs. doing nothing, is that true for you?”

 

If it is, a great follow up question could be “my experience shows that there is typically someone in the organization who questions every change that people want to make – who is that in your organization?”

 

Feeling brave? “How will we overcome that so you can move forward?”

 

Want to see more UpYourTeleSales perspectives on the economic detour and sales work zone we’re in. Check out September’s Construction Edition of A Chip Off the Block.

 

No Comments Yet.

Leave a Reply