Understanding Why Your Customers Aren’t Buying:

Do you know why your customers don’t buy from you? Ken Allred , founder of Primary Intelligence, now, Corporate Visions does. He founded his firm specializing in "win-loss analysis," which involves analyzing why sales opportunities are won or lost. Every year, they interview thousands of buyers about their purchase decisions. In a discovery session, they asked salespeople why they think their prospects didn’t buy, and then they asked the customers.

Guess what happened? The two responses couldn’t have been more different. The sellers claimed they lost the sale because the customer couldn’t afford the product. However, the buyers said they didn’t buy because it would take too much effort to make a change.

The first word out of the mouth of a failing seller is almost always “they.” They were unfair, they didn't have the money, they said the timing wasn't good. "They" distracts from "I." "They" suggests that someone else is in control.

Sales excellence is beautiful and, like all beautiful things, temporary. An excuse, however, endures. An excuse promises permanence.

On the other hand, as soon as we say "I am responsible," we take control of our sales and our lives.

Here Are Five Reasons You Might Have Lost the Deal - And What to Do About It

1) You Made It Too Complex

Our brains are overwhelmed more than ever. Recent research indicates that the average person encounters 4,000-10,000 ads daily, checks their email over 70 times, and switches devices more than 500 times within a 24-hour period. Sifting through what to retain or ignore is exhausting.

Time has become the new currency—and it seems we're all in deficit.

Your stressed-out customers might find it difficult to comprehend your complex offerings. While they may like your product and recognize its value, the sheer effort to understand what you’re selling and why they need it can deter them from making a change.

My advice? Keep your presentations, demos, and communications straightforward. Limit the number of alternative pricing plans (three is usually optimal). Investigate your customers' social profiles to grasp what matters to them. Concentrate on the top three features and benefits of your product and refrain from answering? questions the customer hasn't asked.

Understanding your product is often secondary for customers; what's crucial is that they know you understand them and view you as a trusted, reliable resource.

2) You Failed to Set Up a Follow-Up

Sales involve incremental progress. Thus, securing the next appointment or progressing to the next phase is vital.? Top sellers facilitate their clients' envisioning of future steps post-purchase—how they will take delivery, assume ownership, etc. Outlining a timeline of upcoming events can alleviate fear and counter sales resistance.

Merely stating “I’ll follow up" then subsequently spending excessive time crafting the perfect follow-up email can diminish your value in the customer's eyes. You're better off scheduling the next steps during your sales interaction, which may include a demo, providing social proof, or arranging a meeting with another stakeholder.

Taking your role and your product seriously will lead your customers to do the same.

3) You Suffer from Premature Demonstration Syndrome

Once sellers become "experts," we often preempt customer objections with standard solutions. Our excitement about our offerings can lead us to stop listening and start selling before truly understanding individual buyer needs. This is common among new reps who initially sell fervently, then months later, after gaining product knowledge, they overload the customer with information, addressing nonexistent objections, thus losing the sale.

Instead, conduct thorough discovery sessions with all stakeholders before pitching any product, demo, or recommendation. Premature demonstrations can kill a deal every time.

4) You Didn’t Remove Perceived Risk

People generally prefer making no decision over making a wrong one. Your prospects are rarely 100% certain they’re purchasing the right product from the right person at the right time, even if they seem confident.

Ignoring your prospects' fears won't make them disappear; Use quantitative data, stories and case studies to back your offer, addressing who supports your claims, the proof behind them, and why prospects can feel secure.

5) You Dwelled on Your Last Defeat

While you may lose a deal, you should never lose the lesson. Learn from your mistakes and move forward! Achievement demands enduring hardship, but there's a distinction between recognizing pain and wallowing in it, learning from it versus being paralyzed by it, and berating yourself versus bolstering your resolve.

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