There are five reasons why potential customers don't buy from you, but even one of them is enough to keep the deal from going through. Don't they buy from you? This is due to sellers' behavior that does not match the way their customers make purchasing decisions. Worse, often the way people are taught to sell is based on the logic of the seller, not the buyer.
The mechanism by which buyers make a purchase decision can be described by six questions that they answer to themselves. Therefore, when the sales team structures their business processes with these issues in mind, it helps clients make a positive decision. But if the buyer answers no to one or more of the questions, it leads to a disruption in the decision-making process, which can stop the sale process.
1. Why change something? A person is usually at rest unless there is a compelling reason for change. People have a natural aversion to change. The human brain is designed in such a way that it always associates purchases with a high level of risk.
Ultimately, if buyers don't have a significant reason to change, then they won't change anything. The most effective way to induce change is to find issues that will stimulate your customers to think about improving their business. It is important to find reasons to help buyers feel the negative consequences of these problems.
2. Why now? Once your customer has accepted the idea to change, you need to help them understand that the change needs to happen right now. The longer it takes to make a buying decision, the lower the likelihood that a sale will occur at all. You need to help your client understand that it is in their own best interest to make changes now, not later. Otherwise, our brain naturally postpones decisions until later.
3. Why your company? Numerous studies have shown that the best way to reduce a shopper's perception of risk is through trust. Trust and risk are two opposites. As trust increases, risk perception decreases. The best way to build trust is with expertise and meaningful ideas. Cognitive science studies have shown that when the brain recognizes that someone is an expert, it is more likely to accept that person's suggestions.
4. Why your product or service? There are two main types of benefits: cost and differentiation. Unless you're a hypermarket, don't compete on prices - that's a short-lived advantage. Determine the unique value the customer wants from your company, product, or service. But it's important that your unique value matters to your customer. It varies from buyer to buyer, and the most significant value that sellers offer often has nothing to do with buyers.
5. Why waste your money? When you suggest that customers buy from you, you are also suggesting that they not buy anything else. The most effective way to answer this question is to address their dominant buying motives, which are the emotional reasons that buyers drive. Dominant buying motives strongly influence decisions and consist of two scientifically proven triggers for human behavior: the drive for profit and the fear of loss. Neuroscientists have proven that fear of loss is a much more significant motivator when making a purchase decision. But don't create fear of loss if you don't show how a buyer can avoid that fear by benefiting from your company, product, or service.