How to Persuade Change in Buyer.
Imagine walking into the buyer’s office and the buyer’s current vendor is there for the meeting!
Has this ever happened to you? It’s never happened to me. It DID happen to one of my clients!
My client Bri Wilson, shared her news and my mouth hit the floor!
Bri was in the process of quoting insurance policies for the prospect. She had set up a meeting to go over the quotes and finalize the deal. When she walked into the meeting she was surprised. There sat the current insurance agent. Bri felt totally blindsided!
Whoa…talk about trying to intimidate.
Bri kept her cool. She knew the buyer was unhappy with the current insurance agent’s lack of service. It had been 2 years since the buyer had heard from the man.
Bri outlined for the buyer very factually where he was underinsured, insured incorrectly, and where he was overinsured. (The current agent really dropped the ball!)
He talk over Bri and often interrupted her. Bri was patient, respectful and emphasized the importance of an annual review before each renewal with the buyer.
She didn’t have to do anything but present the facts!
AND she won the deal.
What about the buyer that seems married to their vendors?
How to persuade change in buyer? How do you get the buyer to embrace change and/or divorce themselves from their current vendor?
How often do you hear that the buyer is not thrilled with their current vendor? OR they feel it’s too hard to change?
These examples are not objections. These are relationship issues; long term business relationships that you’re trying to break up. At least that’s how the buyer perceives it even when the buyer is not satisfied or happy with their current vendor.
How to Persuade Change in Buyer? What needs to change?
Paint a new picture for the buyer and help give him the words and courage to end the current relationship. Often times people just need the permission to do what’s best for their business.
Deep business relationships that turn into friendships are the hardest to divorce. Even when the service or product is no longer a good fit.
You’d think it would be a no brainer. However, the buyer doesn’t want to harm the personal relationship that’s formed over the years.
Help him imagine how much easier and different his business will be if he moved to your products or service. Give him the words to use when discussing his decision with the current vendor.
Next explain how to implement the change in vendors. Describe your backroom, implementation plan and how you’ll be with him every step of the way to make the transition simple and seamless.
This is a hard decision for the buyer so expect some resistance. He’s wrestling in his mind, how the current vendor will take the news and does he have the courage to disrupt this relationship.
I had a buyer tell me one time that although he knew it was best for his business to change to my product, he felt it would end his personal friendship with the current vendor.
All I said was…
”If I’m understanding your situation currently, you’re saying your personal friendship is based on keeping him on as your vendor?”
He smiled and said..”Good point.”
Maybe that might seem aggressive to you. I was simply reframing the obvious and asking for confirmation.
Just like ending a marriage is a long difficult decision, ending long term business arrangements is just as difficult. It takes patience on your part and the ability to paint the picture of a new beginning that’s ultimately best for the buyers business.
Have you experienced what happened to Bri? If you have will you tell your story in the comments below!