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Why More Prospects Aren’t Buying

It seems B2B salespeople are finding more and more of their prospects opting to kick the can down the road.  We hear from them quite a bit. They’re not losing deals to competitors–their prospects are just deciding not to buy.

Worst of all, they’re pitching great products with proven ROI. We’re talking about solutions that could save prospects money or make them more efficient—or even generate additional revenue.  But despite all these advantages, prospects just aren’t buying

It doesn’t make sense.  Why isn’t there demand for great products like these?

Well…chances are, there is demand. But the sales processes (and the marketing steps that came before) aren’t tailored to the type of demand that’s out there.

When you’re selling into explicit demand, it’s often just a matter of getting in front of prospects and being better than the competition.  These prospects are already convinced that they want the type of product or service that you’re selling…the challenge is getting them to buy from you.

But prospects with latent demand are different animals…  Not only do they need to be convinced to buy from you, they first have to be convinced that they have a problem that needs to be solved. And all of the usual explicit demand tricks rarely do any good when selling into latent demand.  New demos? Additional case studies? Highlighting competitive advantages? Lowering prices? These just won’t get them buying.

Latent demand needs a different bag of tricks. You need ways to help prospects:

  1. Recognize the problems they aren’t currently seeing.
  2. Understand what they’re losing by not solving those problems.
  3. Feel the urgency to solve these problems quickly.

Addressing latent demand is often a much tougher code to crack. But when you do, you’ll be able to shape a problem for prospects that you naturally have the perfect solution for.

And perfect solutions tend to get more prospects buying.

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