Why Customers Buy
Buying decisions can be based on emotions like fear of loss or desire for gain. However, before they do purchase, they need to have a reason for change.
-Problems customers have
-Opportunities to improve upon a situation
Change is challenging!
Today’s customers are frazzled and overworked and this makes them feel like they don’t have enough hours in the day. They are also risk-averse and hesitant to make changes that might cause problems or bring on more work.
As their needs grow, customers realize that they must make a change.
It’s OK. “I could lose a few pounds, but I’m probably OK.” It’s a problem. “My slacks are feeling are a little hard to button, but they aren’t uncomfortable.” The problem is growing. “My slacks are uncomfortable and bothering me very much!” I need to make a change! “I can’t squeeze into my pants anymore. I have to find something else to wear!”
Recommended for You Webcast, September 1st: Discovering Content Marketing Trends Using Big Data
Making a Change Example
Trying to Lose Weight
- Low self-esteem
- Health issues
- Looking good
- Fitting into smaller size
- Being healthier
Deciding whether to Buy a New Furnace
- It’s OK: The furnace is 15 years old and should probably be replaced
- It’s a problem: The furnace runs noisily and inefficiently; utility bills are increasing
- The problem is growing: The technician sees bacteria and mold
- I need to make a change!: The switch doesn’t work and you cannot get any heat whatsoever.
Customers that exhibit areas of pain that your product or service can solve are prospects and they should be pursued vigorously.
A prospect has 4 prerequisites; need, desire, financial capacity, and authority. A suspect may have only 1 or 2 of these, but not all. In order for a suspect to be a prospect, they must have all 4 of these. When you identify a person with all 4 prerequisites your sales efforts should double!
Watch The Understanding The Client Buying Process Video
Understanding The Client Buying Process – Suspect vs. Prospecet