The Decision-Making Process – It’s All About the Questions

The decision making process is the time that it takes for someone to decide that they have a ‘need’ – to the moment when they are actually ready to buy. Whether it’s a new phone,  joining a gym or hiring a consultant – there’s a process that we go through. First, we identify that we have a problem that needs to be solved – then we go about gathering information about how to solve that problem, and during this cycle, we meet with prospects who we hope can help us.

My guest Chuck Polin, of The Training Resource Group, shared with me how to navigate this cycle in our favor, what questions we need to ask, factors that affect how long it will take someone to make a decision, and how to stay in touch with someone throughout the decision cycle.

Q: What’s the first thing we need to know about how a decision is being made?’

A: Know who is making the decision – it’s not always the person you are talking to. Make sure you have access to all of the decision-makers. It’s also important to find out how they are making the decision – is it by committee? Also ask where – you may have to travel to another office, state or country to get the final OK. If you’re not sure – ask.

Q: You say that it’s more important to ask questions than anything else. Shouldn’t we be telling them about what we do?

A: It’s more important to get your prospect talking – that’s how you find out their motivations and their pains. Follow the 70/30 rule – your prospect should talk 70% – you 30%.

Q: What factors most affect the decision-making process – does a service company take longer to close than one that sells a product?

A: The larger the company, the longer it takes to make a decision. The exception to that are professional firms – accounting and legal practices tend to mull over the decisions for longer.

Q: People forget that after they make their presentation to a prospect, that the decision cycle may take 6 months to a year before a decision is made. How do you stay in touch throughout the buying process – without feeling like a stalker?

A: Ask them how they would like for you to follow up – via email or phone or something else? Let them tell you. Make sure you use a good CRM so that you remember to follow up when you say you will. Most people follow up a few times and that’s it. If you are starting to feel like a stalker, ask them – should I continue to follow up with you? They might just tell you no – that they’ve chosen another firm already. Which is great information to know.

For free workshops on closing the sale, visit The Training Resource Group.