What is the secret to successful sales?...Satisfying your prospect's buying
needs.
When making a buying decision, your prospective client always goes
through three, almost entirely subconscious stages:
WHAT am I buying?
This phase of the buying process deals with the cognitive (or "thinking")
part of the mind. Though it seems obvious, the importance of identifying and
distinguishing the specifics of the product or service cannot be underrated. If
you are purchasing a car, you need to know the general specs: what is the safety
rating? What is the gas mileage? Color? Year? Model? Is there a warranty? These
are the basic facts and figures of the product or service. If you have a
complex or little-known product, you may need to spend more
time guiding prospects through this stage of the sale.
WHY am I buying?
This component of the buying process is determined by the affective (or
"feeling") part of the mind, because people make purchasing decisions according
to their values. One person may buy from a particular company (even if the
prices are higher) because he shares the mission and values of that
organization. Another person may buy a lesser-priced, generic product because
she esteems frugality. Yet another individual may buy the safe car over the
flashy one because family safety is more important to him than impressing
friends. Key lesson here: a successful salesperson learns the values-system
of the prospect, and proves that a purchase of the product/service leads to the
fulfillment of those values.
HOW am I buying?
This is the one phase of the buying process that is either misunderstood,
grossly overlooked, or both. How someone buys is affected by the conative (or
"doing") part of the mind. Any time a person strives to make a decision, solve a
problem or create a solution, he follows an ingrained method for doing so. If
that method is satisfied in the buying process, then a sale can be made. If that
method is ignored or even conflicted, then the sale is most certainly doomed.
Here's what I mean by determining how a person buys: some people
need to get all the facts, do the comparison shopping, read the reviews, ask
around -- essentially become an expert on an item before they buy it. Even one
unanswered question could cause enough doubt and stress to kill the sale. On the
other hand, individuals who are natural bottom-liners can be talked out
of a sale. If the salesperson shares too many facts and figures,
the prospect shuts down and moves on. As another example, some people need to
touch, taste, hear, see the product. Merely talking about the quality of an
item does not satisfy their need to concretely experience the quality
of the product. For instance, some hinge their car-buying decision on the test
drive, others see taking the car "for a spin" as a completely unnecessary step.
Here again, it is critical for you to remain buyer-focused. Learn
the "purchasing MO" of the prospect by asking questions (like: "How do you
best receive information?" and "What can I do to make your decision-making
easier?"), observing their responses, and listening to the prospect's expression
of needs (for more information, more time, a product sample, flexibility, etc).
Unfortunately, when it comes to a successful sale, majority doesn't
win. ALL of the questions above must be satisfied...not just two out of
three. If you are struggling to convert prospects into clients, use this
information as a diagnostic tool. Evaluate your sales process against each of
the three phases. Ask yourself: Am I taking intentional and strategic measures
to meet the needs of my prospects in every stage of their decision making?
So, forget the "5 Ws" -- all you really need is the What, Why and How.
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