Sales is a fascinating line of work. I’ve been involved in buying and selling in some form for nearly twenty years, and not a day goes by that I don’t learn something new. And a lot of it comes from paying very, very close attention to what happens in daily sales conversations.
Observing minute triggers, telltale signs and verbal and non-verbal expressions that divulge a tremendous amount of information about what’s really happening in the room.
Over time, I’ve come to develop a “sixth sense” for certain triggers – things that people say or do that causes me to sit up and pay close attention. Some of these things are positive; little things prospects say and do that lets you know you’re getting close to a sale. Some are harmless.
And some are downright destructive.
When I speak with clients, many of them tell me their win rates are not where they should be, and their people waste an inordinate amount of time developing proposals for deals that end up going nowhere.
The problem isn’t that their salespeople do this on purpose – it’s that they don’t know how to interpret the telltale signs that a prospect isn’t worthy of their time, attention or effort.
The result is that the sellers (and their firms) end up wasting tens of thousands of dollars and man-hours chasing prospects that have no real intention of buying from them. Resulting in low win rates. Decreasing margins. A wasteful sales process. And frustrated sales managers.
Over time, I’ve learned to recognize the four most dangerous things prospects say that should make any seller squirm, and dig for more.
#1. “Sounds interesting …”
What we hear
To the newbie or inexperienced sellers, this phrase is like music to their ears. If they’re interested, that’s good, right ? Interest leads to desire, which leads to sales ? Right ? No ?
What it means
“Interested” can mean a lot of things. It can mean they’re genuinely interested. It can mean they find the idea or concept interesting (but have no intention of buying, or buying from you). And it can mean they’re simply being nice, and don’t want to hurt your feelings.
What to do
The only thing you can – and must – do here is dig deeper. Ask them what they mean by “interesting”. Which part of what you said attracted their attention, in particular. How interested they truly are. What they view as a potential next step. Dig deeper, and find out what they truly mean.
#2. “I’ll get back to you”
What we hear
In your average, typical corporate context, there’s a certain set of rules of engagement that apply. When one of our colleagues says “I’ll get back to you”, that usually means they actually will. With prospects, it’s a whole different game.
What it means
This flag can cover many loads – which is probably why it’s a prospect favorite., and it’s expressed thousands of times on phone and in meeting rooms every single day.
It’s usually heard at the end of a call or conversation, and virtually always in situations where the sellers has failed to propose a clear next step – instead, leaving it to the buyer to decide what to do next, or just leaving it hanging in the air.
Unlike sellers (who usually have only one priority – to sell), prospects have many things that compete for their time, energy and focus. And buying is typically lower on that list than the average seller would like.
So, the obvious course of action is to do nothing at all. In today’s time- and resource-starved environment, if it ain’t broken (and on fire, and spilling toxic fumes), don’t fix it.
But buyers want to be nice, and polite. They don’t like telling people they’re not interested. So instead they say something like “I’ll let you know”. It’s not that they deliberately want to deceive you – it’s simply that they want to let you down easy, and politely.
What to do
If you hear this, chances are it’s already (a little) too late. You (the seller) should have suggested a clear next step in the sales process and drive the sales process forward.
If, however, you come across this particular phrase, my advice would be to say something like “That’s great, and thank you. From experience, I know that most people are extremely busy, and things sometimes take longer than expected. Can we set up a quick call ? (Alternative: can I touch base with you if I don’t hear from you by <DATE> ?”).
In other words, use this opportunity to recover, and suggest a clear next step.
#3. “Can you send me some literature” ?
What we hear
“Great. They’re asking for literature. Must mean they’re interested, and they would like more information/specs/details to inform their decision making. Let me go ahead and put this opportunity as “closeable” in the CRM system.”
What it means
Usually, this is a nice way to say “please stop wasting my time. I’m not interested, but I don’t want to come right out and say it. So, to be polite, just send me something already.”
Exception: if you’ve already had a discovery meeting or call with your prospect, you have uncovered their main affliction and aspirations and you’ve discussed specific aspects of your service offering, sending follow up literature can be a great next move. But only if it’s coupled with a clear next step, like a call to discuss what you’ve sent over in greater detail.
What to do
Use your best judgment to determine whether your prospect is genuinely interested, or simply trying to move on with their lives. Chances are, unless you’ve spent at least 15 minutes with them on the phone, and have a basic idea of what their needs are, you’re being gently worked out the door.
Don’t send any literature unless it’s directly relevant to the conversation, helps your prospect develop a deeper level of understanding, and is coupled with a clear next step.
#4. “How much will this cost ?”
What we hear
“If they’re asking for the investment, it must mean they’ve got a budget. And if they’ve got a budget, it must mean they are trying to determine whether we can fit that budget. Let me make them an offer they can’t refuse.”
What it means
It depends. If this happens later on in the sales cycles (I’d say, post discovery call), it’s a perfectly reasonable and logical thing to ask from a prospect. Even in the beginning, it could simply mean that a prospect is trying to work out what budget they are likely to need (in which case, they’ll mostly tell you that’s what’s going on).
Unfortunately, many prospects who ask for the budget early on in the sales process are price conscious, budget-oriented shoppers. That’s great news if your business model is to sell commodity, high-volume items and you’re a cost leader in your industry, but for 98% of companies, this is not good.
What to do
For this particular phrase, there really are two things you can do.
Either, you tell them it’s hard to give them a number, because it’s too early and you really don’t understand their needs clearly enough. If you’re trying to qualify them, you may even mention you’re “market” (in line with market standards) but never among the cheaper options out there. Upside: you’ve dodged the bullet. Downside: the prospect may see you as evasive and lacking transparency.
Or, you give them a number. In which case I’d recommend giving them one that’s realistic, but on the high side. Never, ever give them a ballpark figure that’s on the low side in an attempt to keep the conversation going and secure the deal. This will come back and haunt you later, when you’re trying to negotiate a fair deal for both sides.
The second strategy is really meant for qualification purposes: if you suspect your prospect may not have the budget required to work with you, this is a great way of finding out early in the process. Meaning you don’t have to waste your time developing a comprehensive proposal for a buyer who will most likely go for the cheapest bid anyway.
The four phrases listed above cost companies hundreds of thousands to millions of dollars every year. Seemingly harmless, they results in hours spent developing proposals, RFP responses, business cases and other documents in a futile attempt to capture business from buyers who are unmotivated, unwilling and unable to invest.
Gently resisting these attempts is a must – but it comes with a caveat. Unless your pipeline is healthy, and full of new opportunities, your sellers will continue to chase these deals on the off chance they just might win one. A healthy pipeline is a core foundation of any high performance sales process.