There are countless reasons why people buy products and services. Maybe they want to improve efficiency, to solve a problem, or just to keep up with the Joneses. Furthermore, there are many more reasons people buy from one source over another. Perhaps one product is superior to competitors, perhaps the timing was right for the purchase, or perhaps they’re simply more comfortable purchasing from one brand as opposed to the next. Whatever the reason, it’s important to understand buyer habits and what they mean to your bottom line. If you’ve been struggling to understand why people buy — but not from you — then this article is for you.
Why Aren’t Prospects Buying From You?
Why don’t your prospects buy? After all, they have a problem and you have the solution. Generally, the answer to this boils down to a few simple dynamics. First, when a prospect has a significant problem but they don’t buy your solution, it’s usually best to look in the mirror. If a sale isn’t made when it should be, it’s not the buyer’s fault — it’s ours. This happens when too many salespeople are focused on their presentation. If their presentation is the focal point of the meeting, they may not hear the problem the prospect is detailing.
In reality, the sales professional should be the one asking all the questions and the prospect should be the one doing most of the talking. If it is in reverse order, the prospect is in control. One thought to keep in mind is this: If we are spilling all of our knowledge, experience, and expertise out on the floor for all to see, hear and take, we run a very high risk of unpaid consulting. I have yet to meet a sales professional that won a noble peace prize for unpaid consulting — but many still do it.
Last but not least, how did we behave? Did we act like every other salesperson? Do we seem desperate for a sale? Perhaps we talk too much, launch into a presentation too fast or did we ask lame, canned, predictable questions that most likely the prospect has heard before? The bottom line is this: everything matters. We can truly only control one thing in the prospect interview, our behavior. If we act like a salesperson we will be treated like one; if we aren’t truly prospect focused, we can’t build a mutually beneficial relationship; if it is not a relationship, it is merely a transaction.
The Real Reason Why People Buy
There is no future in simple transactions; the future depends on relationships. It’s not rocket science. It’s simple communication and relationship dynamics that make our sales careers either a success or a colossal failure. Consider for a moment your own buying habits. Are you more likely to purchase from a friend whom you know and trust or a dealer who promotes the same products and services as 10 other dealers? More often than not, you will purchase from your friend because you know your friend has your best interest in mind, not their bottom line.
This goes back to basic psychology: people care more about themselves than they do total strangers. They want to know they are being taken care of. They want to know their money is going to a worthy cause (or a good friend) instead of some big-wig CEO. Therefore, if you want people to buy your product or service, you must convince them that the sale is a favor to them, not to you.
The key is to build and nurture relationships with your leads, not convince them to buy from you. Do this by relating to them and their specific needs, and by outlining the ways your product or service can solve their problems. Direct your focus on the specific demographic you aim to please instead taking a more generalized approach. Targeted content reassures leads that you are there to serve them and reinforces your qualifications regarding their specific pain point.
Determining why people buy from one source and not another goes back to basic psychology; who is most qualified to serve them? If you want your product or service to stand out, quality and consistency are important. Nurture leads (and build new ones) from the get-go with a secure, bug-free website or software application and watch your client base grow exponentially.
Do you need help ensuring the quality of your software application? Contact iBeta to learn how we can help.