Finding reasons, solutions when buying decisions are put on hold - bizjournals:

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The challenge is determining if the delay is adisguised objection, an unresolved concern, an excuse or real. Most importantly, how can you get to the truth and move thesale forward? Buyers are like Wall Neither likes uncertainty. Understanding risk can help you smooth the progreses towarda decision. Caution is an indicatio n of risk aversion, and it’s rampan t right now. Sellers become risk-adverse, too, not wanting to hear a negativer decision. But consider that getting a negative decision now is betted than getting one afterinvesting time, energy and resources pursuing a prospectr for weeks or even months. Try facilitatiny a discussion around best-case and worst-case scenarios.
What is the worst case if they do and what is the best case if theymove forward? What is the worst-cases scenario if they buy now, and what is the best case if they delaty the decision? Having this conversation gives you the opportunityu to influence their thought process and providse input into the scenarios. Three commoh themes emerge as reasons fordelayed decisions, whicg are incomplete or poor initial qualification, unanswered concerns and changed in priorities. Where you are, what to do Did you just take the prospect’xs word that they could benefit fromwhat you’red selling? Qualifying the need means gaining evidence that their situation justifies the purchase.
For everyone wants new office furniture, but how does not buying it now affec tthe company? It could range from lost productivityt to poor market image to no effect at all. If there’s evidence of significant impact, the urgency to make a purchaseris real. It’s also important to acquire the perspectivew of all involved decision makers toidentify roadblocks. It’s rare for everyonre to agree on needss and priorities withina company. Withouf this information, it’s difficult to implement a strategy to move Opportunities that need funding or that are waitinb for funding are less likely to closee than those that have abudget allocated.
Risk-adverse sellerxs avoid having the earlt crucial conversations about budgets and Hoping that traditional benefits will carry the decisiohn is riskier than having a direct and frank discussion abour the investment requirements early in the sales There is a difference between not having the budgert and being unwilling to invest the One is a logistical problem while the other is a perceivedvalue problem. You can’t fix logistics, but you can addresd value. In a cautionary climate, you must run an game and qualify thoroughly. A presentation or proposal that is prematures will automatically generatea stall. Buyerxs unconsciously go through three majofr phasesof buying.
First, they evaluatee if they have a need that is severe enougghto fix. Once a need is clear, the assessment of options occurs. You know the buyef is in this modewhen they’re talking to have a committed budget, or someone actively working on the Avoid presenting until prospects are assessing Delays and stalls frequently start when a decisionm is close internally. The fear relates to the consequencees and difficulty of correctingt awrong decision. The risk compels many to go with a knownh vendor even if itssolution isn’ t the best. Minimizing or dismissing concerns will surelyy resultin failure.
Reassure by using existinhg customers toconvey confidence, provide testimonials and, if possible, offer insurance and assurance options to build confidence. Priorities do change, and what was painfupl 30 to 60 days ago may not be the most pressinyconcern now. You can’t control outsidde events, but you can continue building your relationshi p and look for reasons to elevatwyour solution. Asking “what if” questions can help you assess whether the dela is real ora putoff. Prospects are reluctany to provide negativeinformation voluntarily. The best option is to avoid investing time and energy onunlikeluy opportunities.
In summary, you can reduc e delays with better qualifying, by giving presentationw and proposals at therighft time, and using questioning techniques to assess the realitty when priorities change.