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Updated: Nov 22nd, 2009 - 17:30:29 |
Is 'Threshold Resistance' Hurting Your Business?
By Bernadette Doyle
Jan 30, 2008, 00:14
I'm at Las Vegas International airport with an hour to spare before my flight, so I'm mooching round the stores and boutiques, not looking for anything specifically.
Then a window display catches my eye. I see upmarket ladies purses and handbags on display. 'I've been thinking about getting a new handbag'. There are some beautiful red leather goodies on display. 'Ooh, look at those.'
The next step is to venture inside, take a closer look, check out the prices. But do I? No, I hover uncertainly in the doorway. 'Will I go in? No, I'll leave it. But those bags are really nice. I'm not sure....' continues the discussion in my head. After about a minute I reluctantly wander away.
I have just experienced what luxury retailing billionaire Alfred Taubman describes as 'threshold resistance', an invisible barrier to sales that prevents potentially qualified customers from approaching you. In this instance the threshold resistance was literal, preventing this interested potential customer from venturing inside but threshold resistance affects every business, whether you're a retailer or not. Right now, 'threshold resistance' is almost certainly stealing potential sales, customers and clients from right under your nose. So do you know how it manifests and how you can prevent it? Here are a few pointers to get you started...
It's emotional, not logical. My behaviour at the airport was bizarrely illogical. I was interested, had the need, the time and the money to spend, but something stopped me from going forwards. The doorway was open, the sales assistants looked friendly and yet I still didn't venture inside. How many people see your ads, brochure or website and react exactly as I did? They're sorely tempted but they don't make the phone call. How many customers have you already lost this week due to 'threshold resistance'? The better you understand the emotional components of threshold resistance, the better equipped you will be to facilitate your potential clients and customers through it.
Put yourself in your customers' shoes. Yep, I know you've heard this one before, but I want you to really understand at an emotional level what it's like when someone is at the 'I'd like to know more' stage. Maybe they're worried about looking foolish, fearful of what they're getting into, or they don't want to find themselves on the end of strong-arm sales tactics, or they're intimidated, or they're concerned that they might not be able to afford it. The more you are able to empathise with their fears, the better you will be able to overcome them. Make a list of all the things that might be scaring potential customers away, and then make a plan for how you can address those concerns.
Make it easy to take the next step. By easy I mean little time and effort required e.g. checking a box on a coupon takes less effort than completing a lengthy application. But I also mean making it emotionally safe for the prospect to take the next step. For example, years ago I was a regular contributor to a national sales magazine, and for a long time the blurb at the end of my article said 'Bernadette Doyle is an expert on phone communication. Call this number for further information.' Then one month we changed the blurb to make the offer more specific, and invited readers to dial in to claim a free report related to the topic of the article.
The number of enquiries rose dramatically, in fact we got 7 times more enquiries that month than any previous month. With hindsight, I can see it was because the new wording lowered the 'threshold resistance'. Before the onus was on the caller to have a specific reason for calling. Now we had given them that reason, hence the increase in enquiries.
Threshold resistance can occur right before the sale too. That's why whether you're selling in person or in print it makes good sense to remind the prospect of all the benefits of using your product or service right before the transaction takes place. I like to remind my customers of my guarantees, so they can complete their purchase with confidence. How would this apply in your business?
If you don't yet have all the business you can handle, then identifying where 'threshold resistance' is occurring in your business and doing something to prevent it may be a better use of your time than scrambling around to find more prospects. No point in drumming up visibility and interest until you have first removed the invisible barriers to the sale. So what are you waiting for? Get started today!
© Bernadette Doyle, 2008. Bernadette Doyle publishes her weekly Client Magnets newsletter for trainers, coaches, consultants, complementary therapists and solo professionals. If you want to get clients calling you instead of you calling them, then get your free tips now at http://www.clientmagnets.com
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