TOO MANY CHOICES… a retail study was done in a grocery store by a well known jam company. They were offering free samples to the shopping public. Two scenarios were created that revealed some amazing insights into how buyers make decisions. The various jams were displayed in an appealing fashion. The shoppers passing by could taste the different flavors offered on small crackers.
In the first case, 24 different jams were available as free samples… the results: 60% of the passersby stopped but only 3% purchased the product. In the second case, only six jams were offered to be sampled… the results: while only 40% of the passersby stopped (20 % less), an astounding 30% actually brought the product (10 times more)! More choices resulted in less sales.
Conclusion… too many choices makes it difficult for the Customer to make a decision. In an effort to provide superior service, sometimes Salespeople make it difficult for their Prospect to buy. A multitude of choices are not always a good thing.
Here is your ACTION STEP… decision-making can be stressful at the best of times. Buyers does not want to make a mistake. From their point of view there are several things at risk… their money, their time, their ego ("I don't want to make a mistake"), etc. Here's some examples of too many choices:
1. Real Estate… showing them every house in their price range. Sometimes you need to eliminate some properties ("In looking at your list, these 4 houses are not going to do the job for you. Here's why…")
2. Financial Advice… discussing every product you have to offer early in the relationship. For most people, money is scary! Focus on one item at a time (example: retirement savings). You can talk about life insurance or critical illness insurance later.
3. Personnel Recruiting… "Here's a list of the 17 top individuals we have that might fit in well with your company". A better approach: ask some questions and find out their critical needs right now. Fill that vacancy and then move on from there.
The best Salespeople are masters at making it easy for their Customers to buy. Some decision-makers are very uncomfortable with it comes down to the crunch. Fully half of the 4 main Personality Styles find it difficult to make decisions. Make sure that you are not "overloading your Customer" with choices. Your job is to isolate the top selections so that your Customer can focus on the real candidates that qualify for their decision-making. Customer Service is all about making it easy for your Customers to make a buying decision and get on with their lives. Great Salespeople are masters at "keeping it simple"… this is just another example of that credo. Help them "buy the right jam" and get on with their lives. NO Excuses.