Buyers are afraid today. They are afraid of spending too much money. They are afraid of making the wrong decision. They are afraid of making a mistake. They are afraid of screwing up. Fear is a prevalent emotion in todays selling environment.
Buyers are afraid because things are uncertain. There is less room for mistakes. The economy is tight. There are fewer resources to go around. People are expected to do more with less. With fewer resources, the costs of mistakes are much higher and no one wants to be “that guy.” The one who screwed up.
Selling in an environment of fear takes a lot more effort than selling in an environment of optimism. Buyers don’t take risks, they want guarantees, prices have to be rock bottom, they don’t want to hear about the conceptual, they want to feel it and touch it and it better have a meauserable, quantifiable return. There is no such thing as a pet project in fear based selling environments.
To make progress in a fear based environment requires, knowledge, trust, relationships, information and gumption.
When buyers are afraid, the more you know about their environment, their goals, their motivations, and their needs the better off you will be. When buyers are afraid, they need to trust those around them more than ever, being in the inner-circle is critical. It’s almost impossible to sell without the relationship. When buyers are afraid, information is critical; information about the market, the competition, government regulation, creative use cases and more. You can’t have too much information when buyers are afraid. But, more than anything, when buyers are afraid YOU can’t be afraid. When buyers are afraid, they are looking for a leader. They want someone to make them feel safe. They want someone with confidence, someone who can do what they can’t — look the challenges right in the eye and not shudder. Selling to buyers who are afraid takes a sales person who is fearless.
Buyers are afraid. They are afraid of losing and to the fearless sales person that’s a huge opportunity.
Don’t be afraid, your clients are afraid enough already.
An interesting observation Jim. Of course your title here is taken from the familiar expression “Lead, follow, or get out of the way.” Some of your previous entries have talked about the value of leadership and made good points. But if you can’t do that (and presuming you aren’t following), then this is good adice.
Paul,
Actually I didn’t think about this phrase, but now that you bring it up. I am talking about leaders. Your point is spot on. It is part of their job as leaders to empower, and support. When things get tough and they get in the way, they aren’t leading anymore.
Unfortunately it happens more often than not.
Great point Paul. Thanks!