We all know this phenomenon but often we don't understand it. Prospects leave their contact details and the consent to be contacted before downloading a special PDF or eBook created for a very specific problem. However, these so called "hot leads" react very cautiously or not at all to the contact attempts that the seller does days after the download. Why is that? After all, the customer must be interested in this very specific topic and must have a real need in what the company apparently offers. Why else was the document downloaded, right? The answer is quite simple and easy to explain.
The selling company (i.e. Marketing-, Strategy- and Sales department) presupposes something that does not exist on the customer's side. Furthermore, none or very minimal effort is made to research the customer more closely before the first contact attempt. This leads to absolutely standardized and ordinary contact attempts the customer simply ignores. Here is one example of such outreach:
Hi Chris,
I noticed you downloaded our {document name}!
I guess it’s safe to say you’re looking into {problem} for your organization. Well, my team and I help companies get {solution 1} as well as {solution 2}. Our automated {service} platform saves teams hundreds of hours in {service description} and other {service-related} tasks, by significantly streamlining and simplifying the entire {problem} process.
Are you free for 15 minutes next week to see how it works?
-{name}
“It is always easy to be logical. It is almost impossible to be logical to the bitter end.”
-Albert Camus
I bet most sellers are now wondering what's wrong with this message. Many sellers have even told me that they use similar contact attempts quite successfully. They believe the email is friendly, short and sweet, to the point and in no way “salesy”. However, that is only one side of the coin. The product-centric-view.
The other side of the coin is focused on the perception of the customer and it looks very different. Most of the prospects I have spoken with see such emails as unsympathetic, unprofessional and a clear attempt to sell something. On average, more than 87% do not even finish reading this type of messages or delete them without even reading. If we try to think how the customer sees things and what is their real need, we start using the customer-centric-view.
This brings me to the next question. How can it be that both parties feel so differently about the same situation that appears as logical? The answer is simple. The seller tries to establish a connection with the prospect on a purely logical and rational level, while the prospect is still in a very emotional prospecting phase. In other words, both sides speak a different language.
You are probably familiar with the following situation: Imagine you are going to lunch with a colleague. While ordering you realize that you lost the $50 bill you took out of your wallet moments before you left the office. You feel pain and experience an emotion. Will you now listen to your colleagues explaining to you in a logic or rational way why and maybe where you lost the money? I bet you wouldn’t! This is not what you need at that moment. Another example: you are on the way back from the restaurant and you suddenly realize you don't have your smartphone with you. You feel pure panic and experience a very strong emotion. In those specific first moments of panic, how helpful will be logical and rational sentences like "it's probably in the office on your desk" or "You’re not one to lose things. You probably just misplaced it". I bet again that not at all.
“Visionary decision-making happens at the intersection of intuition and logic”
-Paul O’Brain
People in emotional situations would listen to logical and rational information, advice or offers only after they have switched to the logical/rational mode themselves. Anything before that will go in one ear and out the other!
Here are 5 big mistakes you need to immediately stop doing when converting hot leads:
Jurisdiction issue
Sellers often have the belief that the customer is lucky that they contacted them, because the seller has the solution to all of the customer’s problems. Also, if the contacted prospect (usually the one that downloaded the PDF in our example) isn't the right person to make the decision, they will happily refer the seller to the right one. After all, who doesn't want to be the person who recommends the best solution, right?
Wrong: There are many different reasons why someone downloads a PDF. Many companies even deliberately let non-relevant employees sign up on a website to see if you are making the effort to research and prepare before you contact them. Do your research and understand in advance who the person you’re approaching is, what is their position, what the company is doing and what could be the reason they downloaded your PDF. Remember, nobody likes people who take shortcuts. Especially if you want to sell something.
Problem Identification
Sellers assume that the customer always knows what their problem is and what needs to be done to fix it. The customer simply lacks the right software and the know-how to put this into practice. It’s just about the resource, right?
Wrong: If customers could identify the problem, the background and the solution, then they would take action themselves. They don't need you and your calls or emails. It is needed to first understand the scope and the consequences in order to make a decision. Ask questions, get to know the customer and their specific problems and only then offer your services, tailored to the customer's needs.
Willingness to Change
Sellers believe that customers want to fix a problem as quickly as possible to minimize the damage or loss and would do everything possible to achieve their goals. Who wants to stand still, burn money and not improve, right?
Wrong: Every change triggers loss aversion and it is embedded in our DNA. That’s why people don't like changes and many are even afraid of them. You have to break through this emotion before the prospect can actively listen to you. Many sellers also forget the fear of customers that a small change in their department might cause a larger negative impact on the entire company. You can reduce this fear by listening carefully to your prospect before you make any offers or present your product.
The Mass Phenomenon
Sellers believe that if they present the customer's problems as a well-known phenomenon and show how many other customers they have already helped, then the customer will buy immediately. Who doesn't want to buy from the most popular, right?
Wrong: Customers want to be perceived individually and don't believe that their problem is just as "simple and easy to solve" as that of the competitor. In addition, customers often understand that you are just offering an “off-the-shelf product” and that all customers are just numbers for you. They want individuality and flexibility and for that, you should talk about the other customer or success stories only when the customer asks for references.
Product Belief
Sellers believe they have the best product in the market and that they only have to overwhelm the customer with product features and benefits for them to buy. Who doesn't like getting more than they need for the same price, right?
Wrong: Be honest - Which company says of itself that they are only the third or fourth best in the market? Nobody! Everyone claims to be number one and the customer knows that. What interests the customer is which company can identify their specific problem/need and fix it in the best possible way. The customer is only interested in which features help them right now and not what they are getting as an "extra" on top. Product presentations, demos and benefits should only be offered after you have fully understood the customer’s requirements.
The customer's behavioral psychology plays a much larger role than simply pointing out problems and their solutions. Potential customers want you to understand them and that you show the willingness to help because you care about them and not just about the commission you will get for each meeting or deal.
Yes, it may be that the customer is asking too much here, but never forget that there are many competitors out there and you are not alone in the market. If you don't make customers feel what they desire, someone else definitely will.