It is important to remember that prospects are also going through a buying journey. This should be synchronized with your efforts in selling. You should show how your investment in your product/service is beneficial to the client, not just the lowest-cost option. You will be able to demonstrate more value to prospects if you are able to understand the factors that influence buying decisions.
What Prospects don’t tell you
While some things we are aiming to purchase, like groceries when we are hungry, we also purchase many things that aren’t sold to us. We purchase on our own to meet our needs and almost buy without thinking. It’s what TikTok doing to a lot of people, our hidden desires find their way out. Don’t you ever think they watching you? We do think when we are being sold something, and so do our prospects. If you don’t want to do something like a dull assignment, you may think “Can I get somebody who will do my economics homework for me?”, and then you see the ad of a site that offers that service. Will you buy it? Most likely yes. First, we must approach prospects with the understanding that they are unknown entities and there will be natural doubts and questions about our business.
When they are being sold to, there are five key buying decisions that every person makes. These buying decisions are always made, even if the prospect doesn’t fully understand them. Even if the buyer is aware of what decisions are involved, it’s not always clear.
Understanding their decisions when dealing with you will help you get them to say “yes” to all the questions. This will also help you to nurture them through the entire process. So, what are they?
- About you, the salesperson
- About your company
- Information about your product/service
- Concerning the price/value
- The time it takes to buy
Buying Decision 1 – About You, The Salesperson
Prospects’ first impression of you is more important than the product or service that you offer. These are the unspoken concerns – your integrity and your judgement.
They are looking for integrity and if you truly care about their success. Are you able to understand their business needs?
The judge is able to show that what you offer meets the needs and wants of the client. You will be able to answer any questions the prospect may have by knowing more about your company, its market, and the potential customers.
Buying Decision 2 – About Your Company
Clients must trust you and like you. This is largely achieved by you. The prospect still wants to see the company as trustworthy and credible.
They may expect a trusted advisor who is an integral part of their operations to be reliable (handle my orders right).
Buying Decision 3 – About the Product/Service
Prospects are not just deciding whether they want to purchase from you. Prospects want to feel and think, “Does this product/service really meet my needs?”
The prospect has to make a decision between you and two options – There is no action or other options. Alternatives aren’t just companies you might consider direct competitors. A buyer might be considering whether or not they would like to invest the same amount on additional staff or capital.
A larger company may make a purchase. This means that the purchase will be influenced more by other people. No matter how small or large the company is, you must provide enough value to the customer to make it a better choice than others.
Also, reviews can help. Some companies understand that well, you can check Killer Paper reviews to understand what a good reputation is.
Buying Decision 4 – About the Price/Value
The client now has to decide on price but “affordability”, which is the return value of the investment, is what he or she considers.
Your credibility on the first three purchases will determine how much the sale is about value and not the lowest price. It is important to avoid asking the question “So how much does it cost?” until you have established a solid foundation of value.
Buying Decision 5 – The Right Time to Buy
This is more client-controlled. However, if the prospect has a valid reason to be sooner, they should hear from you.
Your prospect may need to make a decision on your offer because of time-sensitive issues. Example: The expiration of a tax credit that makes buying more cost-effective, the discontinuation of an existing product line or a pending, non-negotiable price rise.
It helps sellers and marketers to understand their buyers’ journeys. This helps them in their conversations with prospects.
You don’t want to miss an opportunity to create qualified leads and nurture prospects. Spend some time getting to know your target audience so that you can understand their motivations and help them find the answers they seek.