Turning prospects into customers is the goal of any marketing campaign and at the heart of every business. Not surprisingly, it is one of the worst experiences to see your shoppers become buyers of a competitor’s product. What did you do wrong? Or what didn’t you do right?
There are seven likely reasons that your prospect chose somebody else.
1. You Only Focused On the Wow Factor
When your prospects consider doing business with you, do not sell them on your company as having mind-blowing wow factor. Yes, you should have a unique value proposition clearly stated on all your marketing materials, but when your prospects are first checking you out, they need to know you can cover the basics. Focus on giving them a clear explanation of why your product or service is of higher quality than your competitor’s.
2. You Failed to Address the Right Need
If you are in the business of helping your clients sell Southern California luxury homes, it is unnecessary to promise a high market saturation of their ad content in all Southern California communities. Buyers for this product are only found in a few select communities. You may have promised a lot, but your competition promised to target the market the client truly wants to address. Be focused and don’t try to please everybody or you’ll sell to nobody.
3. You Did Not Keep Your Promises
If you set up a business meeting for noon at the potential client’s office, be there at 11:45 a.m. Never be late, cancel or simply do not show up. The same is true for proposals that you promise to email at a certain time. Keep your word or lose business to the competitor who is early rather than late. By the way, oftentimes a face-to-face meeting is worth more than a rushed phone call and an email. Make the time to meet.
4. You Overused Business Jargon
The business world is big on jargon. Certain terms are routinely found in ad copy. Where you run into problems is when you do not have hard data to back up your jargon. If you say that you are the “best in the business,” you need to have data to prove it. Using more jargon and catch phrases to back up the initial one will not convince your potential customer. Your customers are not stupid. Give them the respect they deserve and talk to them straight.
5. You Didn’t Know When to Cool It
Sometimes even the best business presentation does not result in a sale. The consumer is simply not ready (or able) to make a buying decision at this time. Although copious business insiders tell you to keep pressing, there comes a point when you need to sympathize with the consumer and position yourself as the business that is there to meet these needs when the other party is ready. Arguing and pushing will never get you the sale you want – now or later.
6. Your Website Was Sub-Par
Small business owners in particular must be careful to present an online presence that is as professional as the websites the big companies use. This includes an attractive layout, a clearly presented value proposition, easy-to-find contact information, and clear calls to action.
7. Your Attitude Stank
Your competitor is polite to the office staff, treats the receptionist with kindness, and patiently waits for the meeting. Your representative, on the other hand, complained to the receptionist about the wait and demanded immediate attention. This is not the way to win customers. If you want to win the sale, be notably professional.