Day: September 9, 2020

If You Don’t Have Five Reasons To Buy Then Take It Off Your Forecast

If You Don’t Have Five Reasons To Buy Then Take It Off Your Forecast

I am always amazed that so many VPs of Sales do not interrogate their teams on the “needs gap” during pipeline review meetings.

A prospect’s “needs gap” is the difference between where the prospect wants to be (their goal) and where they are. The more significant that difference, the more likely the deal will get funded.

If a team cannot identify five reasons why the prospect has a gap between where s/he is and where s/he wants to be, there is a high likelihood that there will not be an order. You need to take it off the Commit List and put it on the Upside List. Organizations do not buy because of pain (“I wish we didn’t have to deal with this problem”); they invest because they want to change their situation – a “needs gap” between where they are and where they want to be (“We absolutely need to do this so that we can achieve nirvana”).

In a business-to-business (B2B) sale, there are many decision-makers. You need to have five reasons for a deal to happen so that one or two of those reasons don’t get killed by someone else in the organization. Your risk is that the one remaining reason to buy from you may not be enough. However, your risk is much higher if you depend on only one positive outcome to justify a purchase.

As depicted in the below image, not all of the reasons will be equally important. That is fine. The important thing is that you have at least five reasons to buy from you.

You should have at least five reasons why your prospect is going to buy from you

When people decide to spend their own (or their company’s) money, they do so because their goals do not align with their reality. They wish that they were in a different situation. Their desire to be in that situation is acute enough that they are willing to invest their time and money to get closer to that goal.

Many people discuss ‘pain’ as the reason that people buy. This belief is not entirely true. Pain is the result of not realizing goals. Therefore, ‘pain’ is a ‘lagging indicator’ of the situation. In a competitive situation where there are no Trappers, pain may be a tremendous driving force. Trappers try to get ahead of the problem and drive the buyer into a conducive situation to win the order. If you wait for ‘pain’ to occur, you run the risk of involving many more competitors and being much later in the sales process. Instead, you want to control the process, which means that you want to discuss the goals of both the organization and the individual people.

Pain is the result of unrealized goals.

In addition to ‘pain’ being a secondary and lagging situation, it also has very negative connotations. It is much harder to discuss an individual’s ‘pains’ than discussing the individual’s goals. Goals have a very positive feel and therefore make you a valued partner to the prospect.

A similarity from your everyday life: if you have knee pain, you may see a doctor. You and your insurance company will likely give the doctor money to cure that pain; the transaction does not give you a positive feeling about the doctor. You never had a goal of having surgery or physical therapy – it is more of a necessary evil. 

Another example is that you may have a goal of getting into shape and losing weight and, therefore, joining the local gym. You are more likely to develop a long-term friendship with that gym and its employees. You will likely have a better feeling about the gym than your doctor in the paragraph above, even though you may give them much more money over the term of your membership. The people working in the gym help you get to your goal, whereas the doctor is solving a problem or a ‘pain.’

Pain means that something is broken. It causes a negative feeling. While it may be prevalent in this age of social media to whine and complain about broken things, it does not create excitement or enjoyment. The excitement only comes when you are trying to achieve a goal.

The athletes on your favorite sports team don’t work hard in practice because they want to avoid the pain of losing. Instead, they work hard because they want to win. Winning is the goal. The desire to accomplish a goal allows everyone to be motivated and work hard. Talking about pain with an athlete is to talk about losses, strenuous practices, and injury. The athlete is much more motivated talking about the game wins and the plans to win the next games. The same is true with your prospect.

Pain is also not the reason to choose one product over another. Pain may justify the purchase, or it may start an evaluation process. If all the reviewed products solve the problem, then ultimately, price and ‘terms and conditions’ will be the deciding factors. However, most evaluations are more concerned about goals and achieving those goals. If your pain is that you have a broken TV, then any TV should solve your pain. Suppose your goal is to watch sporting events and feature films on the best-looking and best-sounding audiovisual system on the market. In that case, your list may be more detailed.

Similarly, suppose your pain is that you cannot get to work in the morning. In that case, hundreds of automobiles and some public transportation options will solve your problem. If you have a goal of getting to work in a sporty red convertible, you will eliminate many of those choices. In that case, you need a car salesperson to help you meet your goals. You will also pay more for attaining your goals than just solving your pain. 

The chosen product will match the goals of the prospect, not just the pains of the prospect.

In sales, we can use this to our benefit. We will center our initial questioning and needs development with our prospect on goals and the ability (or inability) to reach those goals. By doing this with the Discoverer (a role that we will discuss later in the book), we have the advantage of being a long-term and trusted ally. As the sales process evolves, other vendors are brought in to ascertain their possible remedies. Still, the prospect sees them as solutions to a problem (pain) that you have helped them identify because their reality was not the same as their goal. You, on the other hand, are a trusted confidant who only has their best interest at heart, and you are willing to guide them as they explore their goals.

The key points to remember are that you need to go after the prospect’s goals and document at least five reasons why you can help the company achieve those goals. One reason is not enough. The more reasons that you have, the more likely the deal will close in your favor.

Header Photo by Icons8 Team (Unsplash)

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