New prospects often freeze because they fear making the wrong decision. Mitigate this risk by offering a smaller, lower-priced initial engagement. This allows them to experience your product's value firsthand, building trust for a larger future commitment.
When customers object to price, it's because they don't believe the value they'll receive will exceed the cost. The solution is not to discount, but to reinforce the return on investment using testimonials and case studies.
Aggressively cutting prices to win deals during a downturn carries significant risk. It can poison your mindset to believe your product is worth less and devalue it in the marketplace, making it nearly impossible to return to original price points later.
If your primary industry is struggling, identify adjacent markets that are still thriving. Analyze the outcomes your product delivers and find where else those outcomes are valuable. This is a targeted way to expand your prospect list beyond your usual niche.
Instead of pushing harder on stalled deals, redirect that energy into prospecting. A fuller pipeline reduces your desperation, which changes the dynamic with existing prospects and creates momentum that can indirectly un-stall deals.
When a deal involving multiple decision-makers stalls, break down the group. Have smaller, individual conversations to understand each person's unique challenges and resistance points. This allows you to add value and build consensus from the inside out.