What to Do When a Prospect is Happy with Their Current Provider
Prospecting for new accounts is never easy, but it becomes much, much harder whe the contact says they’re happy with their current provider. Clients who are pleased don’t want to change, and rightfully so. But you don’t want to miss out on new business, and the prospect likely won’t budge unless there is a good reason to do so. So how do you resolve this issue?
Don’t give up– Upon hearing this objection, many salespeople simply give up and moveon to the next prospect without even trying to resolve it. While this may be a delicate, oftentimes uncomfortable situation, walking away is not our recommended approach.
View the objection as an unconscious need– Most client objections are not objections at all – they are actually just unconscious needs. An unconscious need is a desire, goal, or ideal solution that the client is not aware of. They simply don’t know what these needs are, and it is the salesperson’s job to bring that need to their attention.
Identify the need– You’ve recognized that the client has an unconscious need. Now your task is to determine what it is. Ask yourself: “What is the need that they don’t know they have?” You will want to acknowledge the client’s satisfaction with their current provider and seek elaboration. Let the client talk, and see if you can pick up on anything. Here are some examples of common needs you may want to consider:
- A need to learn what is available in the marketplace
- A need to confirm their situation
- A need to compare what they have with alternative approaches
- A need to see why it is in their interest to hear what we have to offer
Reframe the objection– Once you’ve pinpointed the unconscious need, you need to reframe the objection as such. The reframe should present the objection as a specific concern that you can address. For example you might say something like this:
“So if I understand you correctly, Mr. Smith, since you are comfortable in your current relationship, you need to see why it would be in your interest to learn more about my company and how we can add value. Is that correct?”
If they accept your reframe, you can explain what you offer that would justify their learning more about you. Then you’ll be one step closer to winning the business.
Be realistic about the outcome– Keep in mind that if a client is happy with their current provider, you are not going to change that overnight. But if you can get them talking and find out why they are reluctant to hear what you have to offer, you will be able to reframe that concern into an actionable need. It will take time, but it just may work out in the long term.
If a client is pleased with their current provider, we have our work cut out for us. But that doesn’t mean we give up. If we can make them aware of their need that justifies their learning more about us, we have taken a promising first step. It may be a long journey, but at least it has begun.