You’re speaking with that hot prospect. You’ve made every point you wanted to make. You’ve outlined every single feature and the benefit of every single feature. You’ve shared testimonials and names of others with whom you do business. You’ve answered all of the questions. You believe you are about to close the sale. Your prospect then says, “I need to think about it.”
You leave, but you’re content because you think it’s only reasonable that your prospect would need to think about such an important decision. You believe that your prospect will eventually say, “Yes” and so it is simply a matter of time until you close that sale.
It’s so tempting to believe that prospects really are “thinking about it” and if we only give them enough time they will come around. Most of the time, however, prospects know what their decision is – they simply may not want to share it with you and so instead they say, “I need to think about it.” And, if you believe that prospects really are thinking about your offering and will eventually come around, then there is really no need to ask all the hard questions about exactly what they need, their decision-making process, their decision criteria, their timeline, their budget etc.
Certainly, there are some situations where prospects do need more time. Maybe there are other estimates or proposals coming in, maybe they need to speak with another decision-maker, maybe they need to finalize their budget. The truth is that all of these questions need to be asked and answered before you ask the prospect to make a buying decision. If you do not, it means you will not have uncovered the whole truth. Not knowing the whole truth will torpedo your sale.
If your prospect tells you that they need more time it is entirely appropriate to find out the specifics of why they need more time and especially when they would make the decision. If a prospect tells you they need time to think it over, it is entirely appropriate to ask what they are thinking over. In this scenario it is likely you either missed something in your presentation or that your prospect really has made a decision and that decision is, “No.” Prospects don’t always want to say, “No,” so instead they say, “I need to think about it.”
The bottom line is, you need to ask questions – a lot of questions. Ask the tough questions during your presentation. This will eliminate most of the “I need to think about it” scenarios. If a prospect still does need to “think about it” ask the tough follow-up questions. If a prospect says “no” to you, you really are better off knowing the real answer now.