Disappearing Prospects

I was thinking about disappearing prospects. Don't you just hate it when hot prospects suddenly stop returning your call? It's especially hard to deal with when they'd been so eager to move forward with you only weeks before. At first, you assume their lack of responsiveness is an isolated situation that will quickly self-correct. But after repeated failed attempts to connect, you start to question your own sanity.You could have sworn they were interested, but their current behavior indicates otherwise. And, not wanting to appear too desperate or to come across as a real pest, you're stymied in terms of what your next steps should be.Truth be told, they've disappeared into the infamous "Black Hole" - sometimes never to be seen again. Why They Disappeared As a seller, it's always important to analyze what may be causing this behavior before taking action. In my experience, these are the typical reasons why prospects disappear into "The Black Hole."
They're totally swamped. Without a doubt, this is the most common. In virtually every company today, people have way too much to do and not nearly enough time to get it all done. They fully intend to continue the conversation, but not right now.

Priorities changed. This can happen overnight. Changing market conditions, bad 3rd quarter results, and new leadership are just a few of the possible root causes. But when this happens, it's darn near impossible to regain your momentum in the short term.
Lack of urgency. Sometimes sellers confuse a prospect's interest level with a desire to take action today. As such, they share all the glorious details about their offering instead of building a business case for immediate change.
Column fodder. Occasionally prospects just need comparative bids/pricing to justify their decision to go with another company.
They know everything. When prospects feel they have all the information they need, there's literally no reason to talk with you any further.
Different reasons call for different actions. Some you can prevent by doing things differently in your customer interactions. Always be open to this possibility since prevention is your best cure. Others you have no control over.Dealing with “The Black Hole” What can you do when your previously hot-to-trot prospects disappear into "The Black Hole?" When you don't know what's behind their silence, figuring out how to respond can be a dilemma - especially since you don't want to be a pest. Here are some strategies you can use in dealing with "The Black Hole:"
Just keep trying. Realize that prospects expect you to carry the "keep in touch" burden - so do it. It can often take 8-10 contacts before you actually reach them again. Don't panic. This is normal in today's business environment.
Make each connection valuable. Don't just say, "Hi Eric. Just getting back to you as I promised about your xxx decision. If you have any questions, give me a call. Instead, you might say, "Eric, based on our conversation last week, I know how important it is to you to shorten your sales cycle. There's a white paper on our website that addresses this issue. I'll be sending you a link via email shortly."
Have a sense of humor. After 4-5 contacts, leave a funny message such as, "Eric. I know you're swamped. But I also know that shortening your sales cycle is important to you. That's why I keep bugging you. I'm looking forward to FINALLY reconnecting."
Leverage a variety of mediums. Mix up phone calls with emails, mailings, invitations to upcoming events, sending articles, etc. To position yourself as a resource, makes sure each connection educates, informs or adds insights.
Create multiple entry points. Never let one person be your total gateway to a company. Identify and nurture multiple relationships concurrently. When appropriate, reference others you're talking to in your messages/emails.
Re-evaluate your initial connection. How could you increase their urgency? Determine if you're just column fodder? Or, tie your offering more into their business priorities? In way too many cases, sellers have done a product/service dump when talking to prospects. Instead you need to on critical business outcomes and the difference you can make.
Plan your next step now. Never leave a meeting without a homework assignment (for you and/customer) and a firm follow-up appointment scheduled. If they're unwilling to do this, it's an indicator that something may not be quite right - which should prompt you to explore their need and urgency in greater depth.
Let them off the hook. Send an email stating that you thought they were interested, but perhaps you misjudged the situation since you haven't heard back from them in the last 6 weeks. Believe it or not, this strategy often gets a response & an explanation from a prospect who is feeling guilty about not reconnecting.
Reduce your contact frequency. If, after ten touches, you still haven't heard, start contacting them less often. A quarterly schedule might be more appropriate. Or, you might want to keep on top of what's happening in the account and reconnect at a more appropriate time.
By leveraging one or more of these strategies, you'll often be able to re-engage a prospect who has disappeared into "The Black Hole." Not always, but often. And, if you've continually provided value and focused on the impact your offering makes, they'll likely be ready to implement your solution yesterday.

Bully with the Juice

Knowing how to appeal to the “Bully with the Juice” is a mandatory strategy in tough times like these because even though you may win the selection process, you still haven’t won the business. Who is the Bully with the Juice? The Bully with the Juice is the financial decision maker who will ultimately approve the purchase. It’s the person who controls the company’s purse strings. He could be the CFO, VP of finance, VP of purchasing, or even the president. Unfortunately, this person has the economy on his mind and is less likely to approve spending money more than ever.There are many different ways to classify people involved in the selection process during the sales cycle including title, influence, and orientation (technical, business or financial). Another interesting characterization is a person’s insistence that things be done his way. This is called being a “bully.” A bully will get his way at any and all costs. Being a bully is not necessarily a negative term, nor does it mean that the person is physically intimidating. It is simply the description of people who will tenaciously fight for their cause. Another concept by which people can be measured is if they have “juice.” Simply put, juice is leadership, authority, and charisma. During the selection process you will encounter bullies and evaluators with varying degrees of juice. However, only one person within the customer’s organization can be the Bully with the Juice. Even after the vendor selection has been made, releasing the funds must be approved by the ultimate decision-maker, the Bully with the Juice. Single-handedly, he imparts his own will on the selection process and will approve or deny the purchase to be made. The Bully with the Juice is the company’s equivalent of emperor Caesar. Only he can give his thumb up or down on the life-or-death decision to spend the company’s money. So even though you have won the evaluation and the CIO assured that a purchase will be made, you are actually now in the most critical part of the sales process. You must win the approval of the Bully with the Juice.Some people believe that the economy has changed the way products are purchased. People will argue that some purchases are truly made by committee without a Bully with the Juice. While a committee does put more fingerprints of accountability on the product selection, behind every committee (and its creation) is a bully who has the juice. In addition, every committee has to present its recommendation to someone, and that person is the Bully with the Juice. So even if the CIO and CTO are on the selection committee, they still have to sell their project internally to the Bully with the Juice.There are four important rules regarding the Bully who has the Juice. First, if you cannot accurately determine who the Bully with Juice is in your deal and none exists, be prepared for no decision to be made. It takes a Bully with the Juice to make a major software purchase happen. This is a reality in today’s economy. Second, if there is a bully with the juice in your deal and this person will not meet with you, always assume they are aligned with someone else or are against the purchase from being made at all. Therefore, the deal is lost. Third, if a Bully with the Juice does exist but you aren’t able to identify the person, be prepared to lose. You are in a position of extreme risk because you have no idea which economic decision-maker you must win-over. Finally and most importantly, you MUST meet with the Bully with the Juice as early as possible during the selection process! This is the only way to know whether or not a deal really exists.Software salespeople are constantly placed in an environment where they must differentiate themselves and their product from other attention-getting solutions. Under these circumstances, the salesperson’s job is to create a relationship with detractors as well as supporters. Ultimately, there is one person who makes the final decision and truly matters. In today’s economic malaise, it is the Bully with the Juice who reigns supreme.

WHO ARE YOU SELLING TO?