Karen Tippett – Do you understand the why when you made your last meaningful purchase? Let’s start by looking at the basis of our buying decisions. When we buy a product or service, we expect to get one or more of the following benefits:
- Saves time. Deciding to buy an item at a convenience store may save us time, even though we might get it elsewhere at a lower price.
- Saves money. Buying a fuel-efficient vehicle will save money on gasoline costs.
- Makes us Feel Good and provides peace of mind. We buy life insurance because we feel good that we’re taking care of others. It gives us peace of mind.
Almost all buying decisions are based on an emotional response and then substantiated with logic. It’s often how we satisfy the “why” question to ourselves and others. Consider this scenario:
You find a home that you love and want to buy. It checks every box on your list. It’s hard to contain your excitement as you walk through for a second look. Though the list price and likely selling price are within reach, it’s considerably more than you intended to pay. You make an offer and it’s accepted.
A friend asks you why you paid more than planned. Now comes the rationalization, it goes something like this:
- We can move in without having to spend money on upgrades,
- the property taxes are less than we currently pay, and
- the commute to work is shorter so we’ll save on gas.
When you consider a purchase, you might ask: “Why would I want to spend my money on that?” Your customers need to understand the why as well. Buying without answering the “why” question can lead to buyer’s remorse, followed by a cancelled sale.
Sales is a process based on two-way communication that is built on a foundation of mutual trust. To satisfy your customer, you must answer the “why’s” and especially the spoken or unspoken question, “Why should I buy from you?”
The short answer is that they shouldn’t until they are comfortable. You’ll need to review key points that your customer identified as important. Answer any objections. Go through the entire sales process again, if needed. Reinforce the benefits your customer values.
You’ll know you’ve been successful when your customer thinks or says: Why not!
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