Frequently in our Business Development process, we encounter prospects that decide not to buy. If we do not understand how and why people buy or have a process to disqualify unqualified opportunities early, we tend to rationalize a reason why the person did not buy from us. On a fundamental basis, there are four reasons why a person will not pursue a solution to a problem.
- There is no problem; there is no pain. Therefore, there is no motivation, no call to action to pursue a solution.
- There is no match. Specifically, the solution presented does not adequately address the problems uncovered.
- There is no immediacy or urgency to solve the problem. The effect or impact of the situation is not critical enough to motivate your prospect to pursue the solution immediately.
- There is no trust. This is the most important reason. You have not established the relationship wherein your prospect believes that your purpose—helping them figure out what they need or want and finding a solution, whether or not they purchase it from you—is truly ahead of your goal of making the sale.
Look back at all of the situations where your prospect or customer did not buy. You will find that one of these four, or a combination of these reasons, ultimately resulted in the final decision. An effective Business Development process requires that you know how and why people buy, engender your prospect’s trust and respect, uncover their true issues, allow them to prioritize how to address these issues and provide adequate solutions.
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Founded in 1979, MBDi is a global Business Development services firm headquartered in Charlotte, North Carolina, USA, providing expertise in Business Development best practices in the national security, defense, scientific, energy and engineering industries. MBDi’s mission is to transform our clients’ organizations and people into proven Business Development leaders by addressing the conditions and behaviors that assure positive culture change creating clear paths to professional success.