What does it take to convince a buyer to buy your product? Is it compelling enough, Do you have an awesome sales strategy? Do you think you are a market monopoly?
Well, a couple of these questions can be answered if you know well about your product. The market these days is diverse with different competitors offering the same services where the competition is neck to neck. It necessary to understand the key equations that result in a great sell. Selling a product or a service is an art. A book from Helen Kensett titled “‘Sales Mind: 48 tools to help you sell”, inspired me to share with you the thoughts on great sales tools. I would feel comfortable echoing her vision and simplifying the same for you.
While selling your product, you will come across all set of buyers. Those of whom include emotional buyers, deep thinkers, people with a demand etc. Each segment would be impressed by a certain feature in your product that actually compels them to buy your product or take your service.
Sales world classifies or segments a set of buyers as active and passive buyers. Active buyers tend to buy your product or service if they are looking for a similar service you are offering and reach out to you via organic search, search engine optimization etc. Mostly this happens when people look for hotels, restaurants nearby etc
A Passive Buyer would see your advertisement and find it relevant enough to connect with you when an emotional connection is established based on their demands or a layer of need is created as soon as they interact with your advertisement
How will you create an impression among all sorts of buyers? how will your product or service business find clients or customers? Let’s discuss 2 major segments and tools to align certain sales criteria in your mind
Active Buyer Impressions ( ABI )
For Active Buyer Impressions, there are certain considerations which are extremely important, this can be divided into organisational and personal.
ABI for an organisation
Understanding Long-term Vision or Central Goal
What is the long-term goal of your buyer? Where do they position themselves in the next 3 years? How will you reach the upper level of competition?
Like a Supermart Chain desiring to open 10 more outlets across the state and reaching in the Top 3 Grocery Supermarket choices among customers
Understanding Micro/Daily or Secondary Goals
What are the day to day goals of your buyer, these are often execution challenges faced by a buyer? A buyer tends to see visible growth for micro level business functions in order to create a full-scale growth
Let’s consider the supermarket’s strategy to create sales per product, gain popularity in social media to attract customers and referrals
Future market trends of a buyer and challenges
Understanding a buyer’s challenge in expanding its business in future. Building a robust track so that your product aligns with buyers vision. It’s highly important to understand the current scenario of their business and how your product can effectively align with it.
Supermarket not able to diversify product range, manual input of data and no proper sales acquisition channel etc
Anxieties about buying your product
Its necessary to understand the mental barriers of a buyer or the risk proposition. Making their decision making easy by communicating effectively them and making sure that they trust your product completely
Constraints in Resources
A buyer would be able to conceive the idea of the product if you are solving a problem related to any of the constraints. Commonly time, money, energy, expertise etc.
ABI for personal goals of a buyer
The personal needs of your buyer matter the most when compared to organisational needs as it is driven by human desires and drivers
Pleasure
It’s a low-level driver when it comes to sales, it’s highly important if you can convince your buyer’s pleasure in buying a product. Maybe saving time and money is not itself sufficient to create a lasting impression. They key goodness a buyer experiences while buying and using a product. It includes things like financial gains and praises.
Progress
It clearly includes improving skills, enhancing an attribute and making progress in your business goals, It’s an effective driver.T he idea of progress immediately hooks your buyer towards the thought process of growth
Purpose
Self-actualisation is the highest needs of a human being as per Maslow’s Hierarchy, the cultivation of a creative business mindest amongst your buyers is a legitimate driver. The feeling of being purposeful is extremely important. If you can provide them with a tool that gives them a sense of ownership and creativity it will leverage your sell.
Passive Buyer Impressions ( PBI )
Passive Buyer Impressions are influential and accepted triggers for a buyer to select your product or buy your product, Triggers include :
Likeability: How likeable are you when your buyer makes a decision to buy a product? If you are likeable for someone then the buyer will tend to buy from you more
Simplicity: Its necessary to keep your product pitch as simple as simple sell more, people who can make complicated looks simple are likely to sell more
Familiarity: The more familiar you, more likely your product will be sold. More exposure adds probability to sell but let’s remember not to overdo it as it might be irritating
Authority: Buyers tend to buy from people who know what they are doing. Its said that greater success comes to people with louder voices and knowledge which makes them an authority by demonstrating greater confidence in your proposition
Urgency: How much do you compel the recipient to respond? the more pressing your offers is an effective communication can help you sell more
Accessibility: Buyers need simple ways to access and understand your product. one way to do this is by giving them an option to try your product
Quick Win: when your buyer experiences quick gains and simplifying their smaller problems will instil confidence while approaching towards a bigger problem
Reciprocity: When you give buyer something to try, they feel they owe you. Like giving away invitations to an event, taking their testimonials and sharing valuable content will help them.
Follow the Herd: The social network impact creates an urge among the buyer to buy from you if their friends or family have recommended the same. This is the most powerful tool in selling.
Scarcity: Loss aversion is deeply rooted in our psychology. Is your product highly desirable and less available? The sense of being premium drives buyers quickly to buy a product
These are some powerful triggers for driving sales and understanding the buyer’s psychology. Highly recommended read for people looking to understand effective sales strategies, consider doing A/B testing in order to find the right path for yourself 🙂
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