July 15th, 2011
In this installment of the Psychology of Sales, we look at reasons why people buy. When you fully understand the motivation behind a person’s decision to buy, you can more easily close the sale and create more happy customers.
People Buy to Meet a Need
Perhaps the most basic and straightforward reason people buy is to meet a basic need of food, shelter, water, health care, connectedness, etc. Products and services that meet basic needs are often the ones with the most competition. If your product meets a basic need, you will find yourself spending less time answering the question “Why should I buy this?” and more time answering the question “Why should I buy yours?” Be prepared to answer that question – whether spoken aloud or not – fully and completely in order to close the sale.
People Buy to Fit in
Unfortunately, peer pressure doesn’t disappear completely once we survive our teenage years – it continues on well into adulthood. This motivating factor is related to what looks good, makes us feel attractive or successful, what’s in style, or what everyone else is doing. This is where testimonials and “social proof” come in very handy during a sales presentation.
People Buy to Make Life Easier
This motivating force is evident by the number of “As Seen on TV” products – gadgets and gizmos designed to take the stress and struggle out of everyday activities like chopping vegetables or watering plants. If you can show a potential customer how a product or service will make their life easier, you will be halfway to closing that sale.
People Buy Because It’s Fun or New
Some enjoy buying because the act of getting something new is fun – others love to buy experiences, items and games for the entertainment value. If you’re selling business-to-business, this may not be the key motivating factor in your sales pitch. However, most people (including business owners and decision makers) are drawn to the “new” which means if there’s anything new or improved about your product or service, you’ve got a good angle for holding the prospect’s interest.
People Buy to Avoid Pain
Even more powerful than the pursuit of pleasure is the avoidance of pain. People (including your prospects) will go to great lengths to avoid pain. However, keep in mind that using this motivating factor in sales requires you to make the prospect feel a little pain…remind them of what happens (or could happen) when things go wrong and then show them how your product or service helps avoid that discomfort or stress.
People Buy to Get a Good Deal
Social coupon sites have positively exploded in the past year or two, and that’s largely because people hate to miss out on a good deal. Nearly forty percent of online purchases are impulse buys, and daily deal sites play to that spontaneity. If you can show your prospect why what you’re offering is a deal that is too good to pass up, and give them a reason to buy right now, then you’re surely close more deals, more quickly.
It’s a well-known fact that people also tend to buy when they can see, feel and experience the product or service (or what it will feel like when they do). Renting a projector and including a slideshow presentation can help close more sales by using audiovisual support to put your prospect in a buying frame of mind. Click here now to rent a slideshow projector from Projector123.com today.
Leave a Reply
