Increase Sales Blog

Posts Tagged ‘buying decision process’

The goal to increase sales is comprised of many specific marketing message actions including:

• Direct Mail
• Paid Advertising (Traditional such as media, radio and print)
• Internet Pay Per Click and Banner Ads
• Tradeshows
• Sales Letters
• Article Marketing
• Blogging
• Business to Business Event Networking
• Cold Calling

Most of these marketing message actions require direct expenditures to indirect ones such as time invested (salaries).  Yet there is one way to increase sales that does not cost you one single Washington or better yet even a dime.  Now do not over think.

Jeb Blount in his book, People Buy You, devoted 8 pages to this one cost-free marketing action to increase sales.  Do you know what it is?  You probably do it at least once a day if not more.

Before I share this no cost feature, if you have not already guessed, let me ask you this one question, Why do people buy or better yet what prompts people to purchase your products or services?

Now some may answer, benefits or features while others will talk about referrals from others.  These are all true answers, but when we render down the buying decision  process and understand how people make decisions along with how the human brain and mind actually works, then foundational answer is what I call emotional receptors.  (Sales Training Coaching Tip:  Emotional receptors are those senses that receive emotions including sight, sound, taste, touch, smell and feelings.)

As many have said before, people buy first using emotions and then justify those emotions with logic. This works with how the human brain and mind function. The primitive brain receives all sensory data and then it goes to the neocortex or logical thinking.

Since people buy first based upon emotions, then your goal to increase sales should utilize that basic fact within the buying decision process.  And what better way than just to smile when you meet someone or even when talking on the telephone or taping the keys on your mobile device or keyboard?

A smile is 100% cost free and is natural human reaction to an event. This action also has the power to create a reciprocal smile in others.  How many times have you smiled at someone, a complete stranger, and he or she will immediately smile back at you?

Emotions are why this statement is also true, people buy from people they know and trust.  Have you ever bought something of any significance from someone you did not know or worse yet did not trust?

A smile costs you absolutely nothing (except for many some visits to the dentist and that is part of your overall health care maintenance much like eating).  However, the return on this almost automatic action can be deemed to be priceless.

Possibly this is why this quote “Smile and the world smiles with you” (source unknown) continues to be true along with so many other smile quotes.  So if you wish to increase sales, just smile from your heart and who knows you may even make a friend.

P.s. Sales Training Coaching Tip: Have you ever heard people buying from grumpy people?

Common sense dictates that repurchases will increase sales. Also when customers continue to buy your products or services, time after time, your business saves money because you do not have to go to extraordinary means to market to them. Yes, you still reach out to them even McDonald’s does that, but the added value is they share their experiences with others and word of mouth advertising is the best kind.

A study by Epilson a significant gap in the marketplace specific to repurchasing of 7 products or services revealed that on average 60% of the buyers would not repurchase from their existing vendor. Auto insurance customers had the greatest loyalty of 58% to their providers while credit card companies had the worst repurchase rate of 27% and beat out communication service companies whose rate was 39%.

Another interesting fact was how buyers made decisions. The product reviews on websites, friends and family, sales person and the brand’s website all contributed or probably influenced the buyer. What is interesting to note is that the seller e.g. the sales person or the insurance agent  never was the first influencer of the buying decision process. Friends and family, product reviews and the brands’ websites were the first  influential source. What was quite surprising is for the products surveyed, email was the preferred channel to receive information.

When customers fails to repurchase, they also fail to recommend and this only reduces the bottom line. In the book The Ultimate Question, the author suggest it costs 7 to 10 times more to acquire a new customer than to keep an existing one. Now the only firms making any money off these non-repeat customers are probably the marketing firms who are eager to show what they can do to stem the tide of those fleeing customers.

What this means for any business or organization is to:

1. Determine why your customers are not repurchasing your products or services because you cannot outgrow losses
2. Establish a written customer loyalty plan within your overall business action plan

By taking this actions, you can be the Red jacket, stand away from your competition, increase sales and while still reducing costs. Now isn’t that a truly better place to be?

Probing questions usually are seeking pain or gain.  Many sales experts suggest customers buy for one of these two reasons.  Stu Schlackman in a recent blog provided some inight into the buying decision process.

Yet until you as the salesperson have an established relationship where your expertise has been demonstrated and you have earned the trust of that potential customer asking either pain or gain questions will probably cost you the sale.

What I have observed is many individuals start selling before they have completed the marketing goals of:

1. Attracting positive attention
2. Building the relationship

The end result of effective marketing is to be asked back where you can begin to further develop the relationship and with permission ask probing questions. Sales Training Coaching Tip:  Always ask permission – May I ask you a question about….? before asking the question.  Watch the body language to ensure congruency between your potential customer’s verbal words and non-verbal language.

Probing questions are tough questions in disguise because you are empathetic in the way you ask them.  Sometimes by how you ask those difficult questions may create an impression that you are too tough, too push for your potential customer.

Credit: WPClipArt

Also, you may wish to consider changing this phrase ABC – Always Be Closing to this one ABE – Always Be Earning.  For the word earning suggests far different behaviors and beliefs than the word closing.

Probing questions are effective when used correctly. Finally, from my observations,  most people buy to avoid pain more so than to secure gain.

Please leave your comments about pain or gain. What has worked or not worked for you?