Prospects and customers don’t buy for literally hundreds of personal reasons, but most of them tend to not buy for the following reasons:
- There is no sense of urgency on their part
- They fear making a change or a buying mistake
- They lack a clear understanding of what a product or service will do for them
- They see no real value in what we present to them
- They don’t trust or believe us
- They might lack confidence in your company
- They might have just recently signed a 3 year contract with your competitor
- You’ve made things too complicated for them
- What you are suggesting is too new for them
- The discomfort of making a change might just seem too overwhelming to them
- They can’t afford what you are selling
- They are completely and utterly satisfied with their present supplier
- They don’t need what you are selling
- They don’t want what you are selling
As we always say, “People buy for their reasons, not ours” – not for the reasons the salesperson or the company’s marketing department think they should. We see this every day when companies develop sales strategies and approaches. The company feels like a new product has the ten greatest features or reasons why someone will want to buy this new version, release, model, etc.
Many salespeople memorize the seemingly important features and then proceed to deliver the corporate message for this new product to their prospects and customers. When is marketing and sales management going to get it! People don’t buy your products and services for the reasons you think they should or why other prospects do. They buy for their own reasons.
You can’t turn a poor prospect into a customer with a great product or persuasive sales appeal. The key to increasing sales lies in discovering why people buy and what prevents them from not buying.
Other reason why people don’t buy…..
- They can’t afford what they want
- They don’t really know what they want
- They have had a bad experience with a salesperson or a company in general
- They don’t want what you have to offer
- They are concerned what others might think of their buying decision
- They don’t like it
- They are simply indecisive
When a prospect doesn’t buy, it’s more important to figure out what prevented them from buying, especially if they are a well-qualified prospect. This can be done in a myriad of ways, but it might make sense to find out right then and there while you are with them. Once you learn why they aren’t buying, only then can you deal with this in the future. Most sales teams talk more about why people “do” buy than why they “don’t” buy. Seems to me rather silly to sit and talk about all the reasons people say yes when in fact it’s the ones that say no that are more important.
Less than professional salespeople give more information than they get. They TALK TOO MUCH and must know that little is learned when you are talking. Clearly you can only learn about a prospect if you allow them to talk. When you don’t get the business, would it make sense to start asking them what stopped them from purchasing from you? Of course it makes sense – but few actually do this.
I believe it would be more expedient for companies to consistently determine why people don’t buy – knowing this will have a tremendous and positive impact on future sales results.
Along with the reasons why people do buy from you, do you have a list of the reasons why people don’t buy your product or service? It might make sense to develop one so that you can begin to build an arsenal of responses to deal with this possibility.