“The difference between involvement and commitment is like ham and eggs. The chicken is involved; the pig is committed.”
If you were to take a hard look at your pipeline, would you be able to ascertain which of your prospects fall into the chicken category and which fall into the pig category? 50% of sales time is wasted on unproductive prospecting (B2B lead). This poses an important question to that deal you’ve been tirelessly working on for weeks: Is your prospect the chicken or the pig? Or rather, are you going to close that deal?
If your buyer can’t commit to a meeting, you’re not going to close the deal.
If your buyer/prospect will not even commit to a conversation, there is no urgency to make this deal happen. If there’s no urgency, that means that your prospect has not yet fallen into the “recognition of needs” part of the sales process. This means that you need to either (a) adjust your value proposition or (b) lose fast.
If your buyer plays the “limited authority card,” you’re not going to close the deal.
This is one of the easiest (and frankly, laziest) cop-out moves a prospect can make. If you are a recruiter and your candidate says, “I need to talk to my spouse before making a career change,” recognize what your candidate is really doing: deflecting responsibility while getting rid of you in the process. Don’t waste your time.
If your buyer fails to follow up when they say they will, you’re not going to close the deal.
Like in any collaborative business relationship, meeting self-imposed deadlines speaks volumes about the level of respect and commitment your prospect has towards your relationship. If you’re following up with them and it’s getting to be a perpetually one-way conversation, walk away.
If your buyer makes no move towards asking how much your product or service will cost, you’re not going to close the deal.
Putting off the budget discussion does a disservice to both you and your potential customer. It’s far better to have your prospect ruled out early on than to fall victim to sticker shock after investing (and wasting) hours of both your time and your prospect’s time. Furthermore, a buyer who is not willing to reveal how much they are willing and able to spend is not a buyer. All negotiation tactics aside, neither party can hope to accomplish anything without having some dialogue around price and budget.
There’s a reason why it’s 6-7 times more expensive to acquire a new customer than it is to keep a current one (White House Office of Consumer Affairs). Acquiring new business is no easy feat! Know where you stand, when to push forward, and when your prospect is likely to "chicken out."