When To Let Go of a Prospect

The issue for most salespeople is that they are the optimistic and sometimes they will continue to persist with the same prospect until they successfully scratch them off the list. Here are a few ways to know that it’s time to let go of a prospect:

• They continue to stall the process. Both buying and selling are processes in which there is a progressive increase in both engagement and commitment. Both the prospect and the salesperson need to advance toward the common goal, which is the purchase of something that will have a beneficial result for both. Temporary stalls are okay, but if your prospect stops the sales process for a long period of time, it’s probably time to let go.
• You don’t see a benefit. Salespeople usually act as paid consultants to their customers. This means that along with selling, they should apply critical thinking to their sales process to find benefits for the prospect. Ask yourself, will the prospect benefit from this deal closing?  If you can’t see a clear benefit, maybe you should ask your prospect if they do.  If neither of you can discover a clear win, it may be time to let go.
• You’re in unpaid consultant zone (Friend Zone). Sometimes you will have a prospect who likes you as a person and enjoys speaking to you but avoids business conversations at all costs. This usually means you’re in the Friend Zone, and just like that one girl in school, the relationship probably won’t continue to advance. You need to eventually let go of this prospect.  You don’t necessarily have to let go of the friendship; but you must remove the prospect from your sales chimney and the cease activity during your work hours.
• They can’t afford you. “It’s not in my budget” or “I don’t have the money for that” are very common objections. A majority of the time they are just methods for the prospect to stall your attempts. What if they really don’t have the money to pay? This is a point where you are required to be more than a salesperson – you’re required to be a savvy businessperson. You have an idea of how much money your product or service costs, and you know what your ideal consumer looks like.  Do they actually have the money to support what you’re selling?  If not, let go of the sale.

Of course, there’s one caveat regarding letting go of prospects. You must be bringing in NEW prospects to replace them in a timely fashion.