Today's question has come from Lawrence in Singapore. He writes:
Dear Tony,
I have had talk with some of my important prospects to invest land asset in a foreign country (Canada).
Every time, the answer bounced back, you know what:
too far away and too risky and I must see it before I'll invest.Tell me how I can overcome and solve this situation.
I look forward to your reply asap.
Thank you!
Best regards
Lawrence
OK Lawrence, there are a couple of possible things going on here. First, it may just be that this person is not financially in a position to invest at the moment. Maybe they don't have the amount of money the investment requires available. Only you can know that. Just check back, have they approached you, or have you approached them? Have they specifically said they are looking to make investments at the moment or are you just assuming they might want to?
This is important because you are getting an objection based on risk. And your particular product, Canadian land investment, is from many angles considered to be a safe investment.
(I can't mention your company because you didn't give your permission for me to do so; and I will always respect everyones privacy)
When an objection is directly contrary to the normal positioning of a product, the prospect is either not in possession of all the facts or is giving nice words to escape. Their real message may be "I am not interested right now."
It also indicates that you have been "feature dumping" on them. If they are unfamiliar with your product, then they need a level of education before you try to "convince " them of how great it is.
That done, lets move forward on the assumption that they are someone who has money to invest and are interested in making investments right now.
Their feedback to you says they feel it is risky.
Perfect, Start to ask questions about their views on investment risk. What is important to them about risk? What is their previous experience with "risky" investments? (see if you can get information about their investment portfolio from this).
Once you know their feelings and experience and what they have invested in, you will have the information you need to figure out how to position your product.
Prospects are people who have a need for the kind of solution you can offer and an interest in doing something about it. If you have not established this, they are just a "Suspect".
You need to start by asking questions.
As you are in Singapore Lawrence, watch out for the next series of Positive Business Minutes on NewsRadio93.8
I will be running a series soon to solve the 25 most common problems that sales people tell us they have. Any of you who want a heads-up on the date for On-Air, just drop an email to salescoach@corporatesurvivors.com and I will keep you posted.
Good Selling
Tony
