By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > Small Business > When A Customer Turns Down Your Product, Take These Next Steps
Small Business

When A Customer Turns Down Your Product, Take These Next Steps

News Room
Last updated: 2023/06/16 at 8:47 AM
By News Room
Share
6 Min Read
SHARE

By Duane Tursi, CEO, Ascension Group International.

Contents
Ask for direct feedback. Offer alternative solutions.Keep the conversation going.Provide social proof.Tap into your network.

“No.”

It’s a word business leaders don’t particularly enjoy hearing—yet it’s one that’s echoed often. It’s said that only a mere 10% to 15% of leads turn into full-blown sales. These numbers can be frustrating, but they provide a unique opportunity to look at your product or service through a different lens.

Not immediately winning over a potential customer can empower you to improve your pitch, refine your capabilities and offer value in ways you might not have considered otherwise. Try some of these customer-centric tips to help turn a no—or several no’s—into a resounding yes.

Ask for direct feedback.

Creating moments for customer engagement is important throughout every step of the buyer’s journey. Try to see things from their perspective and ask the right questions to understand why the potential customer said no. Is it because of budget constraints or because they don’t see its value? Are there alternative solutions that they are exploring?

When asking questions, keep them open-ended so as not to bias their responses in a specific direction. You want to see things as clearly as possible from the buyer’s perspective, so you need to create the space for them to react and respond organically. Knowing the reason(s) can provide insight into how you might adjust your pitch, scope or budget strategy to get to a quicker yes next time.

Offer alternative solutions.

While you’re not in the business of giving things away for free, providing the buyer with alternative options can eventually pay off big. One common example is providing a free (yet limited) trial of your product or service. Seeing is believing, and when someone is on the fence because they’re not clear on the value, this option can quickly help warm them up.

If a free trial is not an option for your business, can you offer flexible pricing options or bundled solutions? This could be a smaller or lower-tiered version of your solution that can still help achieve their highest priorities, or perhaps you can offer a payment plan or a subscription-based model to make your solution more affordable.

Consider sharing free resources or offering advice to help them in their business. This will build and foster a relationship with the potential customer and keep you top of mind when they’re ready to invest in your service.

Keep the conversation going.

Once the potential buyer says no, don’t underestimate the value of following up. While you want the sales team to avoid hounding them, finding ways to keep the conversation open is critical. Remember, just because someone can’t afford your service right now doesn’t mean they won’t have the means or the interest at a later date.

Ask permission to keep in touch, and use this opportunity to create thoughtful and relevant messages (you want to be remembered without being a nuisance). When you do follow up, continue clearly communicating the value of your solution.

Provide social proof.

It doesn’t matter how the buyer found you; they’re not as close to your business as you probably think. Ensure you’ve provided them with the right educational resources to help them make a truly informed decision about their potential purchase. Share helpful resources such as case studies relevant to their specific needs, customer testimonials, references and any other information showcasing how you can help them achieve their goals.

Sometimes, customers may underestimate the value they can derive from your services, so educating them on the potential impact can help them reassess their limitations.

Tap into your network.

If you’ve exhausted your options and realize that the customer genuinely can’t afford your services, connect them with options that might be more budget-friendly. In many cases, your competition can become valued partners that you can tap into during moments like this. Build relationships with other providers who can pick up the torch—and who will also return the favor. Trusted partnerships are also an excellent opportunity for collaborations and unique marketing opportunities.

Be patient, continue building a relationship with the buyer, and you may eventually win their business. Of course, it’s important to remember that not every concern can be resolved, especially as it relates to budget. Even in these cases, you can still provide value in other ways that could lead to more opportunities later.

Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?

Read the full article here

News Room June 16, 2023 June 16, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Markets can “breathe a sigh of relief” once tariff news gets out. 🗞️

Watch full video on YouTube

CNBC tests the viral Dubai chocolate bars

Watch full video on YouTube

How trade tensions are really affecting the global economy

When the UK became the first country to reach a trade agreement…

Hamas gives ‘positive’ response to Trump proposal for Gaza ceasefire

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

Valve conquered PC gaming. What comes next?

Here at FT Alphaville we love exploring “black hole” companies: those ultra-private…

- Advertisement -
Ad imageAd image

You Might Also Like

Small Business

Brilliant Or Lucky? 4 Key Insights For Ventures & Angels

By News Room
Small Business

A Conversation With Agile Expert Harry Narang

By News Room
Small Business

College enrollment is down, Gen Z losing faith in a degree. Here is a better option.

By News Room
Small Business

The Digital Cyrano De Bergerac Of Modern Business

By News Room
Small Business

Why Do We Stay In A Job When We Are Not Happy? Insights To Help You Get The Career You Deserve

By News Room
Small Business

Making A Large Language Model Transparent, Compliant And Reliable

By News Room
Small Business

The Important Initiative For Real Digital Marketing Results

By News Room
Small Business

The Future Of Real Estate

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?