The Law of Diminishing Returns in Selling

The longer we leave a sale hanging the less chance we will have of winning it.

As an example take a typical situation that must happen to salespeople thousands of times every day; The second meeting with a senior buyer, our previous meeting with them had smoothed the way and covered compatibilities, etc. Now our seller expected to negotiate a little and do a deal. This time once again everything went right and terms were agreed to in principle, but when our salesperson asked for the order the buyer said he wouldn’t decide today and no matter what our seller did this guy couldn’t be closed.

Our salesperson was a pro. and knew what to say to recover, asking; “What concerns have you that are stopping you from going ahead?” None whatsoever, but I do need some time and will be in touch within a week or two was the reply.

All our seller could do now was to ask “What else could they be doing meanwhile to help in the decision process?” Nothing, you have covered all I need thank you, was the reply…

So, it was the end of the meeting and the start of the waiting! Besides all being well it would just be a matter of a week or two…

However our seller is not happy because they know that this delay will allow time for things to get in the way, or time for the client need to change. Who knows they might even find an alternative supplier, even through the buyer had assured our salesperson earlier that they were not looking elsewhere.

As a trainer I have many suggestions that might help to have changed this, from Pre-close questions to better Sales qualification questions. Either might have changed the situation and could have better helped to set up things before the end of the first meeting.

With ways and means in mind and as the writer I will always be of help with these and other problems connected to selling, but only when called on.

For the remainder of this piece I only want to highlight and define the problem of diminishing returns for all.

Few of my readers will I hope disagree when with selling in mind that my version of the law of diminishing returns states:

Less orders are won the longer the process drags on.

I for one would rather progress new business chances from cold and close some of these opportunities quickly, than spend my time returning to chase up and visit those long term maybes clients that think about doing something they should do for months on end.

The law of diminishing returns is a more encompassing factor, and will play its part if allowed in any opportunity or chance of gain, as well as in a lot of ordinary situations life presents. 

The longer something is left the less the chance is of it happening.

Finally in this world please remember:

Nothing will happen unless you make it happen!

So please….

Go make it happen… What are you waiting for!

Johnny Herbert