BUYER'S REMORSE: how to avoid it
Dec 1, 1998 12:00 PM, Ted Tate
After you spend hours closing a prospect and using every strategy you can possibly think of, the buyer finally decides to go with you. You feel a strong sense of achievement as you thank him and leave. The next morning, however, you have a message waiting at your office. The new customer had called and cancelled. In a panic, you run to the phone and call the buyer only to find that he is supposedly not in, despite repeated calls. Buyer's remorse is every salesperson's nightmare.
Something common among all people is that after we make a decision to buy something, we then start to wonder if it was the right thing to do. It is a normal reaction, and if you understand that it really happens with all customers, you can take some steps to make sure they feel good about their buying decision, thereby avoiding their cancellation once you leave. Here are several strategies to keep a sale locked in.
Ask why. This is my personal favorite. After everything is completed, I say to the new customer that I realize he must have considered other products, and I then ask what it is about mine that made him choose it over the other. Now, I stop talking and listen. I speak only to encourage more comments by asking for such things as additional reasons. The more the customer tells you about his reasons for becoming your new customer, the more he will sell himself on the wisdom of the decision. Rather than forcing your customer to see that he made the right choice, allow him to come to that conclusion on his own. It is rare for someone to cancel after this exercise, unless you do not remain true to your word as is discussed below.
Deliver. Get your product delivered and installed or initiate service as quickly as you possibly can, even if it is only a small order. The longer a customer has to reconsider purchasing your product, the more time he has to build up doubt. Avoid that.
Get a valid contract or order form properly signed with all details-price, a description of the exact agreement, amount of purchase, dates when monies are due-in writing. Verify by asking if the person signing has the authority to make the order. In some organizations, people may exaggerate their authority. If a prospect tells you that someone else has to sign, then wait for the signature on the spot if at all possible. Do not accept a promise to send the signed contract by mail.
Collecting a deposit, even a token amount, is a great binder. In a vast number of business firms, even large ones, it is possible to request a cash deposit and the balance payable upon completion of the installation, the check being given to the driver. When you sell to large firms, obtain a completed, signed copy of their purchase order before you leave, even if it means you have to wait around for someone to type it. Try at all costs to avoid having them mail it later. Also, ask how long it takes to get paid. Some firms will drag it out for 120 days, and no one can afford to wait that long.
Do not run out too quickly. After you close someone and complete the necessary paperwork, take a few moments to reassure him of the wisdom of his decision. You can paint a little word picture about how good they will feel about making this decision. Point to either future employee happiness or customer satisfaction in the wake of a new installation. Help him see the positive impact his decision will have.
Face any problems you may encounter squarely. If you try this and the customer is not positive or starts to hedge, this is a potential sign of buyer's remorse. The only way to deal with it is by directly asking about the indecision. Do not simply leave and hope for the best. If a prospect is going to cancel, find out while you are there when you still have another shot at closing. Once you leave, and he cancels out of your presence, it is almost impossible to get a foot back in the door. He has done you wrong, and he knows it. Because he is embarrassed, he will not ever want to see or talk to you again.
Be true to your word. Follow up personally on any promises and details you've committed to. If you have to lie or misrepresent in order to sell, you are in the wrong business. Any salesperson who violates this rule deserves the consequences.
Separate business acquaintances from personal friends. Do not ever hang around to socialize after a sale. It is a potentially costly mistake to mix business and social friendships. Once you tie up all the details, leave.
Act like you expect business. This is a big one, and most people are not aware they do it. When making a sale, do not act too excited upon closing. No matter how big a sale you may close, keep your cool. Never make a big deal about thanking people for their business or promising a client that he will not regret his decision or just babbling on and on about how pleased you happen to be. Why? Because it makes people start to wonder just how much money you are making at their expense. I keep a straight face and act as if that was the only decision I expected. As I leave, I shake hands, look them in the eye and say, "Welcome to our business family. I'm happy you'll have the chance to see why so many people just like yourself have been joining us." What I was doing-instead of thanking them for their business-was complementing them on the wisdom of their decision to buy from me.
Follow these steps, and avoid suffering from outbreaks of buyer's remorse. The key is reassurance. Do everything in your power to maintain a client's confidence in his decision to buy from you. At the same time, however, never do anything that can disrupt or shatter that confidence. It is in your hands. Good luck and good selling.
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