A Surprising Component to High Stakes Sales

A Surprising Component to High Stakes Sales
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Some Surprising Research Related to High Stakes Sales
When we ask sales pros to share what matters most with high stakes sales, most get it wrong. If you had to pick what matters most to buyers when they are making an expensive, high stakes purchase, what would you pick?

  1. The best option
  2. The least expensive option
  3. The safest option

What Sales Research Says
Our sales microlearning experts tell us that, based upon research from Selling the Invisible: A Field Guide to Modern Marketing that when buyers are making an expensive, high stakes purchase, they’re mainly looking for The safest option. When we ask participants in our business sales training workshops, the majority believe that sales prospects want the best option and focus on that aspect of their value proposition.

In high stakes sales, that is a costly mistake. Research shows that when buyers are making high-stakes decisions, it comes down to one thing: risk. Buyers aren’t necessarily looking for the “best” option; they’re looking for the safest, most reliable option. They want to minimize the risk that their decision comes back to haunt them.

The Sales Pitfall
Most salespeople have a built-in bias in favor of “the best.” The top solution sellers pros always want to compete and win. And your sales presentations probably reflect that state of mind; you’re interested in showing how your offering will do the job the prospect wants done better than anything else on the market. What the research tells us, however, is that sometimes you may want to soft-pedal your “bestness” in favor of other attributes – like reliability and security.

Action Steps to Win High Stakes Sales
Our sales management training experts say to:

  1. Create a Draft
    Draft a mini-presentation about your product or service’s reliability and the way it reduces buyer risk. You may not use it with every buyer, but it’ll come in handy when you do need it.
  2. Pay Attention to Key Words
    Listen for language from your prospect that may betray a high degree of risk aversion. Tipoffs might include remarks like: “What if it doesn’t work?” “How fast can your maintenance people get here?” or “We don’t have much margin for error.”

The Bottom Line
High stakes sales are different than normal sales and need to be treated accordingly. Does your pitch include the ability to reduce and mitigate risk for your target clients?

To learn more about winning high stakes sales, download 30 Effective Sales Questions More Important than Budget

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