By Dave Brock
geralt / Pixabay
Depending on the research you read and believe, the number of buying journeys ending in “No Decision Made,” is around 50-60%.
Think about what that means. Sure, we’re disappointed–it’s a lost opportunity for us. We may have invested a lot of time, resource, and energy in competing to win the decision from the customer buying team.
But the real tragedy is the lost opportunity for the customer.
The tragedy of “No Decision Made,” is the customer has failed to achieve their goal. They have failed to solve their problem. They are missing opportunities they sought to attack.
Think about what the customer undertook to get to the point of making no decision.
They recognized a need to change, they saw an opportunity, they had a dream, they realized there may be problems.
They committed themselves to a change–perhaps acknowledging the costs of doing nothing were likely to exceed the pain of the change.
They organized a buying group with the task of developing and implementing a plan to change.
They invested in learning–both assessing the internal situation, researching potential solutions, understanding the risk and critical success factors in implementing a solution.
Yet at some point, their problem-solving process and buying process became unraveled.
Perhaps they weren’t able to align the diverse agendas, priorities, agendas of people involved in the buying process. Perhaps they struggled with buying–they simply didn’t know how to move forward in developing a solution and making a buying decision. Perhaps they were overwhelmed by the complexity of the issues involved. Perhaps, they were disrupted by other priorities or other things going on in their organization.
Whatever the reason, the failure to make a decision, represents a huge lost opportunity for our customers. An opportunity which has performance, financial, and market consequences.
Sales people have a tremendous opportunity to help customers through this complex problem solving/buying process. Perhaps, if we are really focused on our customers’ success we have a responsibility to do what we can to help reduce the chance of no decision made.
Where do we start in that process and how do we maximize the value we create with our customers?
Perhaps the best starting point is at the beginning–helping the customer recognize opportunities they are missing, problems they may not have realized they have, opportunities to grow and improve. We can help them learn, creating a compelling need to change. We can help them understand the consequences of doing nothing and help them commit to the change effort.
We can continue through their problem solving and buying process. Teaching them, learning with them, helping them understand how to buy–perhaps through learning from other customers who have face similar issues. We can leverage our own expertise in dozens of similar decisions, helping to facilitate their buying process.
We can empathize with their challenge and the difficulties they face–while it might be a lost opportunity for us, for our customers the risks may be much higher–their personal and business success/future. We can demonstrate that empathy by acknowledging the challenges they face and helping them navigate the risks and difficulties Go to the full article.
Source:: Business 2 Community