How to Help Prospects Understand the Value of Purchasing Support
In my previous post in this circuit questionnaire sequence, about the Proposition, I suggested organisations need constant developmental change to be successful. Most organisations need help to think about change strategically. Whatever you are selling, you need to be aware of this. Is your prospect aware of the need for change or clinging to the false comfort of business as usual? Do they understand the value of purchasing support?
The hardest point developing a consultancy relationship is the gap between someone expressing interest and committing to a purchase.
The issue is not the quality of your offer but their lack of conviction it is right for them. They may be keen to sign up. However, if there is an unavoidable period between this decision and payment, their initial ardour can cool. Often this delay is because they need to consult with a management committee or family member.
If the decision-making period becomes too long, the first enthusiasm is bound to wane and your prospect, who is your advocate with others you almost certainly have not met, needs to maintain their enthusiasm to see it through.
It seems there are two issues here: their enthusiasm and the length of the delay.
At the outset some delay can be positive, eg it may be helpful to have a cooling-off period. If the prospect is still enthusiastic after a short period of reflection, it may be a good thing. Where delivery depends on the positive attitude of the prospect, they need to be certain they’ve signed up to the right thing.
Some Approaches to Mitigating the Delay
So, here are a few thoughts:
- At the enrolment conversation, ask who needs to make this decision. If this is a meeting some weeks away, it may be worth asking if it is possible to short-circuit it in some way. Does the Chair have the power to agree the proposal, for example? It may be helpful to introduce a financial incentive at this point.
- Promise an email within 48 hours with (1) your proposal, (2) information for the third parties who will be considering your offer and (3) a piece of work your prospect can start. This last could be something that requires a conversation on completion and shows the prospect what it will be like working with you.
- It may be an idea to phone the prospect a day or so before the crucial meeting to make sure they’ve shared the information and to check they are confident they can steer the proposal through the meeting.
- Your prospect is to be your advocate at the meeting and perhaps this is a good thing. If they can steer the decision through the meeting, it is evidence of their committment to your offer. Is there any advantage to you being present at the meeting?
A Couple More Issues to Consider
The circuit questionnaire suggests two other things it may be possible to do:
- Be clear about what sort of person working with you will make them. As your reputation grows and you have some testimonials, it will help to show them your track record. However, everyone has to start. Usually the issue for someone taking on a consultant is they need help to try ideas and inspiration for new ones. Many people running organisations are (1) isolated in the sense they are the only person thinking strategically and have not found someone who can accompany them, and (2) bogged down in operational management and needing accountability to set the time aside for strategic thinking. So, for me I’m offering the opportunity to think strategically about how they promote their organisation.
- Does buying into your offer confer membership of some group? If it does and they can encounter others who have made the same decision, this can be immensely helpful. Not only do they get the benefit of the wisdom and experiences of these people, the simple fact that others have made the same decision is reassuring.
Offer a Bit Extra
For the single person enterprise, this can be daunting. But the big advantage of any small operation is the ability to offer that bit extra. For example, I am currently putting a lot of effort into networking in the business and community sectors. This means I have a lot of valuable information and contacts I can make available to my local clients. This experience may also be of value for clients in other parts of the country, where I can help them make similar contacts in their area.
It is a narrow path. You want to sign up the right prospects who understand and value your offer. You can lose valuable prospects or win prospects who turn out to be the wrong clients. The latter is potentially more damaging. It is far better for the latter group to connect them with a business better suited to their needs.
Have you had experiences where you have lost potentially valuable clients or signed up the wrong person? What did you learn from these experiences?