Keywords: business, sales, marketing, psychology
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Summary: In order to make the sale, you must understand the mindset of the buyer. When it comes to large capital expenditures there are number of emotions that are driving the buyer’s decision.
By Bryan Brandenburg
In order to make the sale, you must understand the mindset of the buyer. When it comes to large capital expenditures there are number of emotions that are driving the buyer’s decision. The more you’re in tune with these emotions, the more consciously you can address them during the process and minimize their negative impact on closing the sale.
Insecurity The buyer often has a sense of insecurity when making a decision, especially one that involves spending their own or their company’s capital. Not only does the buyer need to make a good choice, but they need to minimize the risk of losses from a bad choice.
All and all the buyer feels tremendous pressure to make the right decision. A bad decision could not only cost them money, but could even cost the decision maker their job. Do your best to address these insecurities even if the buyer doesn’t articulate them. Make the buyer feel safe with you and your company.
Risk The buyer will be evaluating risk during the buying process. Good business and personal finance is about managing risk. Try to ascertain what risks the buyer believes there are with the product or service or your company specifically or in general. Be sure to address these concerns throughout your communications.
Impatience If the problem is urgent there usually is a feeling of impatience with the buyer. There is an inherent stress factor as the buyer feels pressure to make the decision quickly, yet is experiencing the resistance to rush into a bad decision.
You can create an assurance with the buyer that you’ll be able to move quickly once the decision is made. Try and ascertain the issues the buyer needs to understand before being comfortable making a decision. Then create certainty around those issues.
Worry Prudent decision makers worry, regardless of the confidence they show on the outside. If it's with a business, it's the buyer's job and responsibility to worry about the details of their decisions. Find out what their big worries are and make them into small ones.
Exposure The buyer will be evaluating their exposure throughout the buying process. Depending on the type of product or service, the extent and range of exposure will vary. Put yourself in the buyer’s mind and business to examine the exposure. Help the buyer troubleshoot exposure scenarios to reduce or eliminate them. Money back guarantees go a long way to reducing a buyer's exposure.
Ignorance Seldom will you get a customer that’s as technically proficient in the details of the product or service as you are. You’re the expert so there is often an intimidation factor based on the customer’s insecurities around their technical ignorance.
Do your best to educate the customer; communicate in language free of jargon, provide simple analogies, educational resources, answer their questions and work with them UNTIL they understand the issues at hand. Don't try and close until the customer is comfortable with all key aspects of the purchase.
Skepticism There is a natural and programmed skepticism when buyers are dealing with sellers. Almost everybody has been misled by a salesman in their life.
The way to overcome skepticism is by building a relationship with the customer before you ever start to sell. Work to understand the customer, the company and the problems that are in discussion. Create a friendly rapport and gain their trust.
Probe the customer to discover any elements of skepticism. Don’t ask why they might be concerned, wary, or skeptical with you or your company. Focus on why they might be uncomfortable with your products or company in general.
Resistance Resistance is a trained reaction developed over many experiences with sales people. If there was no resistance, the customer would be buying everything that people were selling and would be out of business or broke. The best way to address resistance in a customer is not to push against it, until it has softened. The resistance is an adversarial position, so you must become their partner and trusted advisor. Give the general solutions to their problem with no expectations of reimbursement. Brainstorm and demonstrate that you have their best interests at heart and the resistance will soften and go away.
b.brandenburg@vmmg.net
Author's URL: http://bryanbrandenburg.blog.com
Bryan Brandenburg has published 7 books as well as a number of articles both in print and on the internet. He has published almost 40 software programs both for consumers and business. More information and articles can be found at www.vmmg.net
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