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In Sales: There’s Nothing to Fear, but Fear Itself!

Posted on: October 31st, 2013 by Monika No Comments

I sit in on many sales meetings with and for my clients and the focus is usually on numbers, prospects to pursue, accomplishments, etc. And while this is important, my belief is that it would be of additional help to management and sales teams if there were discussions about the “softer” areas of the sales process.

People buy from people and sometimes we don’t make numbers because there are deep underlying issues simmering. It’s hard to admit it, but we all have been afraid at times. Afraid to buy or afraid to sell. There is no shame in it. The sooner we understand the psychology of a process, the faster we will be able to face those feelings and to adjust our behavior. To borrow one of FDR’s most quoted statements that will forever hold true, ”There’s nothing to fear, but fear itself.”

If you don’t overcome buyer fears, you won’t succeed.

We need to understand and acknowledge a buyer’s fears in order to help our clients and prospects overcome that feeling and move forward. The most common fears are:

Fear of Paying Too Much – It’s vital to understand how important a buyer’s perception is and how it can affect your success.  Clients and prospects alike want to know that they have been able to get close to your bottom line.

Fear of Change – The fear of change is a very real fear for many buyers.  When someone is comfortable with the product or service they have been using for years, making a change to a new product or service is threatening to most people.

Fear of What Others Will Say or Making a Mistake – I dare to say that almost all of us wish to avoid ridicule.  Most clients and prospects are going to make sure that if they move to a new product or service, there won’t be a negative focus on their decision by their peers or their boss.

What can you do to help your prospects and customers overcome Buyer Fears?

  • Fear of Paying Too Much
    • Obviously, no one wants to pay too much for a product or service. It’s vital to understand how important a buyer’s perception is and how it can affect your success. But what does it really mean to pay too much? Clients and prospects alike want to know that they have been able to get close to your bottom line.
    • So, how do you deal with this?  How you talk about price (or their overall investment) and how you negotiate is very important. When speaking about their investment, stress the overall value that they will receive instead of the benefits or features.
    • In negotiating, make sure that the buyer will give something in return for each concession that you make. You definitely want to maintain your price integrity. This also supports your goal of the buyer realizing you don’t have a lot of leeway to radically reduce pricing.
    • Learn with our Consultative Sales Certified Training Program how to truly stand out as a top negotiator with our e-Learning Module: Negotiating For Impact
  • Fear of Change
    • The fear of change is a very real fear for many buyers.  When someone is comfortable with the product or service they have been using for years, making a change to a new product or service is threatening to most people. Change is harder for some than others.
    • So, how would you be able to deal with this? Use persuasion strategies aimed at calming fears of change. Make use of strategies to gain commitments and close the sale that match your customer’s or prospect’s buying psychology.
    • Some buyers see value in retaining a major portion of what works well and only changing minor areas that call for improvement.
    • Others prefer to see major change and improvement but wish to keep some things that do work well
  • Fear of What Others Will Say or Making a Mistake
    • I dare to say that almost all of us wish to avoid ridicule.  Most clients and prospects are going to make sure that if they move to a new product or service, there won’t be a negative focus on their decision by their peers or their boss.
    • So, how can you deal with this? Stress how your product or service has helped other similar companies enhance and/or improve their products or services. Suggest a final meeting with your contact’s associates or supervisors to reassure that everyone is on board with the change.
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