In an article on WealthManagement.com, Stephen Boswell (@StephenBoswell) and Kevin Nichols (@KevinANichols) consider "Let me think about it" to be 5 of the most dreaded words in sales. Stephen and Kevin put forth a compelling story about how that very standard sales objection can derail almost any sales person at any level of experience and expertise. Written for financial advisors specifically, Kevin and Stephen compare "old school salesman" approaches to the more preferable "consultant" role and deliver a well thought out and non-confrontational approach to handling the objection.
The "old school" response talks about challenging the objection, asking probing questions and setting the frame for a now decision from the very beginning of the pitch. These methods are often attributed to the Type-A "hard sell." They believe that this style and tactic works on some personalities, but for the rest, it leaves a bad taste in their mouth. Think, buyers remorse.
The non-confrontational, consultant style is more of the "soft sell" approach that is looking for the best solution for the prospect's needs. Kevin and Stephen suggest an idea put forth by Bill Caskey and Brian Neale, that you embrace their non-committal response and also use reverse psychology so as not to seem needy. Pitch Anything author Oren Klaff (@pitchanything) will be the first guy to tell you that coming off as needy is a deal killer of the highest order.
The article cites two possible word tracks to handle the objection from a more consultative approach and advises sales professionals to keep the process moving forward and flowing but not to push for an immediate sale.
Grant will agree wholeheartedly with them on the non-confrontational approach. So much so that in his book, Sell Or Be Sold, Grant tells us that the number one rule of selling is to Always, Always, Always Agree. And while neediness never sold anything, what is missing from Kevin and Stephen's case is what Grant talks about in his bestseller, "If You're Not First You're Last," Act hungry! There's a whole chapter dedicated to it.
Going back to Sell Or Be Sold, Grant also redefines what The Hard Sell actually is. The Hard Sell, believe it not, is not about pressuring someone. If you have a great product, a great service and you know it is the solution to your client's problem, it is unethical of you not to ask them to do the deal with you... now. And yes, this may get uncomfortable for you and the buyer, but it's the right thing to do. The Hard Sell is more about belief and certainty then it is about pressure.
But why? Because you truly haven't been of service to your client until they have your product or service. This is the critical exchange point Grant talks about in Closer's Survival Guide and Cardone University
The other thing to look at here is, what exactly does "I need to think about it" mean? It means, simply, the prospect is not 100% certain (sold) on you, your product or your offer as the solution. Grant says, "When value exceeds price, people hook up." If they need to think it over, ultimately it means they are either scared of making a mistake and as of now, you have not fully solved their problem. Any lack of certainty in your mind or the buyers mind will end in a no. Needing to think it over is a polite way of saying no or at least, not yet.
"NO" as Cardone puts it, means there's a lack of "KNOW."
So yes, agree with your client, empathize with them and then, as a consultant, consult. There is nothing wrong with handling it right now. "I need to think about it" is a stall and it's only dreadful when you don't know what it means or how to handle it. It's a sign that something hasn't been addressed. Consultation based selling means we stay in it and we handle it. Not for us, mind you, for our client.
In closing, here's a quote from Grant's Book, The Closer's Survival Guide, "I never believe people need to think, as this is a stall for some other consideration. They are more likely to need more information than time to think... find out what is really wrong."
Cardone Training Technologies has multiple methods for learning the art and science of the close as well as understanding your buyer better in order to truly be of service to them. For more information about any of Grant Cardone's products or programs reach out to David Bradley, Sales & Marketing Manager. David's been with Grant for over 3 years and has been studying sales and selling for over 10. He can be reached at 310-777-0352 or firstname.lastname@example.org