Real customer urgency is what transforms pipeline guesses into pipeline confidence
All too often, enterprise sales reps believe that they have done everything right but the deal still isn’t closing. At this point, the salesperson typically believes either the price is too high, we’re missing a feature, or the market is weak. Does this sound familiar?
These (and countless other) excuses are the likely the result of the customer lacking urgency to buy, aka a compelling event. Determining the customer’s timeframe for buying can be learned by asking two simple questions: “Why buy in this timeframe?” and “What happens (financial consequence) if you don’t?” The first question is straightforward. The second question may be answered by a compelling business case that has been negotiated with the customer and is time sensitive.
Who likely knows the customer’s real compelling event? It’s probably not our coach, whose answer might be something similar to, “My boss told me to buy by the end of the quarter.” This answer is NOT compelling (and probably not accurate). It's more likely that our executive sponsor, with whom we have negotiated our business case, is the best source for this critical answer. Truly knowing this answer can drive the timing of our successful sales effort.
Trying to sell before the customer is ready to buy forces deeper discounts (and missed forecasts), instead of selling when the customer expressly has determined extreme buying need (financial consequence for inaction). Customers don’t buy until it is a last resort, so let them tell you how dire (or not) the situation has become. The executive sponsor will divulge this answer if asked.
Remarkably, salespeople are often too focused on their sales timelines and NOT the customers’ timelines to even ask the second question; this lack of timing alignment leads to missed forecasts. If your SaaS sales team struggles with uncovering the customer’s buying timeline, check out MOIC Pipeline Grader or www.moicpartners.com for help institutionalizing the uncovering each customer’s compelling event for EVERY sales cycle.
