You are feeling comfortable with your prospect. During your recent 20 minute conversation, you’ve asked good questions and now know 5 important things about him (see this post about building a business relationship). Your potential client even shares some of the problems he is having with his current supplier. Still, you sense the client hesitating when it comes to making a business commitment. In World-Class-Selling, Roy Chitwood suggests that before a potential customer makes a business commitment, he needs five key assurances.
Before a Buyer Commits
Chitwood describes the areas that are central to gaining a customer’s trust in order to close a deal.
- You – Once you’ve had the chance to get to know your prospect, it’s time to reciprocate. He needs to evaluate your integrity and measure your interest in serving his needs. He’ll assess how likely you are to be a valuable consultant and advisor, or even a close friend. The client also needs to learn how well you have studied his business. Are you capable of determining how your product or service fits his needs?
- The company – A customer needs to have confidence in your company before making a commitment. Make sure your mission statement and good reputation are well known.
- The product or service – The salesperson must demonstrate knowledge of his company’s product or service and how it meets the customer’s need. Can you show how you will solve the customer’s problem?
- The cost – Customers want more than a good price. They want value and to know how soon the product will pay for itself. Remember, people want to buy: they don’t want to be sold.
- Time to buy – If the prospect is satisfied with the above four areas, he then has to decide when is the best time to buy. No one wants to spend money before it is necessary. To get a business commitment, you need to provide assurance on why now is the right time to buy.
Keys to commitment
Think about it. Before you make a decision to buy don’t you look for these five assurances? The keys to a business commitment are universal. Use them to gain your prospect’s trust and signature on that proposal!
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