This law states that unless a customer acts while the idea and emotion of your conversation with them is fresh in their mind, their desire to buy from you evaporates exponentially from the time they leave you to go and “think it over”.
My client sells high value luxury products from a showroom and recalled many occasions where customers had bought from him with the attitude of “let’s just pick one and go. I can’t face trawling through another showroom!” Interestingly, this also meant they were more than likely losing good sales to their competitors for the same reason.
Research conducted across a wide range of sectors indicates that in 70% of cases sales people do not ASK FOR THE SALE and thereby give the customer an opportunity to go away and think themselves out of the transaction… or get fed up and buy from the next showroom!
My client and I brainstormed ideas for closing customers on the day and we came up with five cool concepts which I would like to share with you:
- The 3 Option Close – Always make sure your customer has a range of purchasing options from your showroom to limit their need to look elsewhere e.g. budget, medium range and luxury
- Check Stock Availability before they go – Before the customer leaves check your stock availability. Communicate this to the customer so they understand any potential scarcity that could delay a future purchase. Take a deposit to hold or order a product because this can help guarantee a sale
- A Cup of Coffee and a Comfy Chair – Don’t let them walk out of your showroom to think about it! Give them a decent cup of coffee (not instant!) and a comfy chair so they do all their “thinking” in your showroom – hook, line and sinker!!
- Competitors Brochures – Carry a stock of your competitors brochures and make sure your sales team know their products as well as your own because then they can truly advise any customer who walks into your showroom and there will be no need to go elsewhere
- Add Value for Quick Sale – Give your sales team an “added value” offer for their back pocket just for customers that are teetering on the edge of a sale and need an extra incentive to help them say YES!
These ideas are not suitable for every business but I think taking and adapting them can help a lot of you to close sales on the day – after all, you know that the customer is best served buying from you aren’t they?