Why do some prospects take so long with a decision?
Have you ever had a prospect seem really keen to buy and then they disappear off the face of the earth? The were a “sure thing” when you put the phone down or left their office. Then you can’t get hold of them even though all you need now is the signature?
Possibly this is a version of “post-purchase remorse” that I call “pre-purchase remorse”. This first is a recognised psychological response to buying. Sometimes buyers start to rationalise their purchase and panic over a number of factors such as having spent a budget on the wrong thing, that they are no longer able to choose an alternative, what will the boss say, etc Other buyers almost predict this effect before they have even made the commitment to give you any money and behave as if they have “pre-purchase remorse”, in other words they regret that they are about to no longer have all the options open to them – including not buying.
The good news is that you must have done a good job as a salesperson because they must have been convinced by your arguments at the time. After all, they did not kick you out of the office or ring off. However, once they began to think about taking their interest to the next stage – in other words paying – they have become rabbits in the headlights. Almost paralysed. And that is why they don’t take your call.
Firstly we need to accept that some prospects have been in buying mode for a long time. Maybe they have seen and spoken to many representatives over a particular purchase they are considering. On some occasions we see “analysis paralysis”: they have so many options that they cannot now mentally process all the information. And this can lead to an irrational decision, rather than a well-researched one.
It is possible they have been doing this research for so long that they have almost become addicted to the process. In fact, making the purchase will end this process, which they have become very comfortable with. And making the purchase might put them in an uncomfortable place.
We can’t know for sure if a client has simply made a firm decision not to use our product or service, or if they are in “pre-purchase remorse”. If the latter, then they need a little more support and they will complete the purchase with us.
So, if you suspect pre-purchase remorse; confront it. Explain in an email or voicemail message that you know this is a big decision and that it should not be taken lightly. Then offer to provide some sort of reassurance. Cases studies or ”customers like you” (note the presumptive language) are one way to help reassure them. Let them know you are there to answer their questions. And be patient and persistent. You need to believe that they will see the light eventually, and you WILL get your sale.