“We’ve decided to go another way” is the dreaded sentence you hear from B2B buyers who you’re trying to sell to from time to time (hopefully not too often!) A Kornferry study of 261 B2B Buyers tells the real story of why you’re getting rejected. Here are the top 5 reasons why buyers say “No, thank you” and what you can do about it.
You Don’t Get Me
50% of buyers claimed that the fact that vendors didn’t understand them or their business was their number one dealbreaker. That’s why my first job with new clients is to niche them down into a specific industry and specialty so that they know the landscape inside and out.
Hilariously (but in an ironic way) 38% of buyers thought it was a dealbreaker when the vendor spoke too much and didn’t listen. There’s a reason why my bullet-proof, one-close conversation is all about open ended questions and deep listening.
Lack of after-sales support was found to be the third highest reason for a dealbreaker with B2B buyers. Buyers’ remorse is real, my friends. So figure out your systems, support staff, and technology so that you’ll never leave a new client without care.
Almost a third of buyers (31%) claimed that businesses selling to them couldn’t explain their solution in a relevant way to the buyer. So the first issue is that because vendors haven’t done the homework, they don’t know the buyer’s pain language, ie. how they speak about their problem. The second is that when the vendor’s pitch isn’t full of relevant industry and similar issue solutions, the pitch seems irrelevant and generic.
The fifth highest rated (31%) dealbreaker for a B2B sale was a slow response rate to the buyer’s requests. The fastest one to reach or react to a buyer is the one that gets the business. Again, look at your processes, auto-responders and use technology where possible to seem as responsive to the prospect as you humanly can.
Having bought services while I worked for some huge brands over 18 years, I’ve lived through each and every one of these dealbreakers (sometimes a few at once!). I’ve now made it my life’s work to make sure that no client of mine ever commits these dealbreaker sins.