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When Do Buyers Buy?

Guest post by: Sharon Drew Morgen

Article Overview: Buyers can't buy until all of the people, policies, market drivers, partners and historic choices that maintain their status quo have bought in to, and added their voices to, the changes that will result when they make a purchase. The time it takes them to manage this change is the length of the sales cycle. Your solution cannot be chosen until it's all figured out.

When Do Buyers Buy?

Your prospects need your solution. Desperately. But they are stalling. And it makes no sense. But are they stalling? Are they really ignoring their needs, working with sub-optimal functionality, for a reason?

No. No. No. Yes. Not stalling, not ignoring their needs. Not working with sub-optimal functionality. Yes, there is a powerful reason.

Buyers can't buy until all of the people, policies, market drivers, partners and historic choices that maintain their status quo have bought in to, and added their voices to, the changes that will result when they make a purchase. The time it takes them to manage this change is the length of the sales cycle. Your solution cannot be chosen until it's all figured out.

Buyers aren't ignoring their needs. And they are not in pain. In fact, they are operating relatively efficiently because they have developed some sort of a work-around that manages the problem well-enough. A new solution will create some sort of disruption, in and of itself, and therefore bring its own brand of sub-optimal functionality until the change is integrated.

Enough reasons?

WHY AREN'T YOU BUYING?

A question for you to ponder. From my vantage point, your selling skills offer you suboptimal results: it takes you far too long to close, you spend too much time running after non-viable prospects, and you're only closing a fraction of the business you should be closing. It looks to me like you have a need that my solution can resolve.

I know that my solution will work in your situation, and make you far more effective. But you'd have to change - add to - what you are doing because the sales model has been your work-around . Therefore, you'd have to go through some sort of change management process internally before you're ready to buy.... regardless of how well your need and my solution match: maintaining your status quo is a powerful deterrent to change, as you'll note.

The sales model does not manage the behind-the-scenes change issues buyers must handle before they can buy. But using Buying Facilitation® as an additional skill you'll have the ability to

• help buyers buy quicker as they manage their internal change issues,
• find the best prospects on the first call,
• get onto the Buying Decision Team on the first call,
• avoid time wasting,
• be able to forecast effectively - i.e. know who is closing and when,
• become an integral part of the buyer's change management activities,
• increase your current closing rate significantly.

The question is: how would you know when it was time to add a new skill set? or know in advance that new skills could make you more effective? or know in advance if it would be worth the time and effort?

HOW DO YOU KNOW WHEN IT'S WORTH THE TROUBLE TO CHANGE?

Think of yourself as a potential buyer of sales tools that can enhance your success.

When do YOU decide that what you're doing could be better? Are you stalling? Ignoring your needs to close more and make more money? Telling yourself that your status quo has worked ‘well enough' for years and you're making ‘enough' money so why change? How do you decide when it's time to change your status quo or add something new?

Note that your status quo - the way you sell, the way you're paid, the way your company operates - is operating at some level of efficiency and comfort and hinders your desire to change. Note that it's not about your need or my solution, that you would have to go through a series of decisions and get buy-in for you to change, separate from the initiating problem or potential solution.

What would you and your management need to know or believe differently to be ready, willing, and able, to add a new change management/decision facilitation capability to your current sales skills? To learn Buying Facilitation®?

Whatever thoughts you come up with, apply to your buyers. You'll note that regardless of the need, the solution, the available data, or proof that a purchase is necessary, until or unless there is a path through to the change so that disruption is avoided, buyer's won't buy.

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Article Tags: buying decisions, market drivers, sales



Related Forum Posts
Re: Are You Complying with the FTC? - A lot online marketers will run to Cyprus and other Islands to do their businesses. FTC rule or no rule the Internet is a global thing and still a wild wild west. Buyers should be careful and do due diligent before buying anything online
Re: Are You Complying with the FTC? - [quote="ideasuniversity":2shwf6gr]A lot online marketers will run to Cyprus and other Islands to do their businesses. FTC rule or no rule the Internet is a global thing and still a wild wild west. Buyers should be careful and do due diligent before buying anything online[/quote:2shwf6gr] Exactly. The consumers should have enough common sense to check out a program or product before buying it if they're worried it might be a scam. There's plenty of resources available to aide them in the process. But, unfortunately, everyone must suffer regardless.
Re: Trade Shows - Are They Worth It? - Hi, Tradeshows are attracting different types of people. First, the visitor, which is the main reason of putting it on. Visitors come from all types of background: Buyers, prospective buyers, people who had a business and failed, directors, shopkeepers and even the public. Secondly there are people who just like to meet new people, that is the best place to be. Exchange of business cards, make new contacts for future use. Thirdly, the exhibitors are mixing with one another either help one another or just want to fine out the newest trend. It is also a good place to meet with competitors and learn from their strategies. Finally, there are numerous seminars with excellent speakers, covering a wide range of information. Taking these points in consideration, they are beneficial. Of course, not every exhibitor has the same success.
Re: need pricing help please - I think you could be selling yourself short. Plus you may be focused on the wrong things when it comes to pricing your products. What will your buyers be able to do or get as a result of your product? How much would that be worth to them? Buyers will gladly pay over $100 for a one page report because it tells them exactly what to do to overcome a specific difficult to solve problem. Even when that information can be found free elsewhere. I know it's hard not to compare your eBook to a physical book. Yet, that may not be a fair comparison. Another thing to consider is the perceived value when a product that sounds great comes with a very low price. Some potential buyers will doubt the value of your product because the price seems way too low for the result it promises. There's a quick and easy way for you to discover the right price though. Open a Google Adwords account ($5) and then set-up a multi-variant test for different price points. If you have a decent amount of traffic you'll quickly discover the best price.
Pre-Registering for Events - Hi Kevin! You have gotten some great advice on this thread. I think a combination of all the above, without sounding trite, would be appropriate. Your marketing should be very targeted and very consistent, once a week or whatever in order to lead up to the event. Take a tip from the information marketing world, and send them new notes about what they are going to learn and how its going to change their lives. Buyers specifically want to do 4 things 1) make more money 2) save more money 3) alleviate some pain or stress 4) reduce their workload (or minimize their efforts) (sounds like a great bunch eh?? ;0)) I would also mirror Beat's suggestion. When we are hosting events for clients we do take credit card numbers, and attendees are told that they will be charged a fee for no -shows. (This helps maintain the integrity of the event). The rate can change depending on the event topic or something. We typically charge $99 for no shows so its enough to get people to honor their commitment. ($25 and they didnt care. ;0)) Your client could also promote the expert a bit more, right now their seminars are a bit bland from a 'who are we going to hear from..." perspective. J


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