Understanding The Client Buying Process – Suspect vs. Prospecet

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.

Pain

-Problems customers have

Gain

-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!”

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Making a Change Example

Trying to Lose Weight

Pain motivation:

• Low self-esteem
• Health issues

Gain motivation:

• 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

Author: Doug Dvorak

Doug Dvorak is the CEO of The Sales Coaching Institute, a worldwide organization that assists clients with sales productivity training other aspects of sales and marketing management. Mr. Dvorak’s clients are range from entrepreneurs to fortune 500 companies including, IBM, Marriott, Subway and Unilever, just to name a few.
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Understanding The Client Buying Process – Suspect vs. Prospecet