Why don’t people buy from me? One of the main reasons is because of a common misconception held by a lot of business owners. They feel that business transactions are simple affairs.
Potential customers or prospects express interest in something, they buy, then they leave.
This is a vast oversimplification of what is actually at work.
Business experts and entrepreneurs have spent decades plotting out and exploiting every step of a customer’s buying process so as to better attract and retain their business. There are three sequential steps that customers take when they show an interest in purchasing something. Many business owners are unaware of how to best target each of these phases. Each phase reflects a different stage of their mentality. Meaning that the ideal strategy to exploit each phase will differ. So what are these three phases of the customer buying cycle?
The 3 Main Phases Of A Buying Cycle
So, Why Don’t People Buy from Me? What do I need to do?
1. Awareness
This is the incipient phase of a prospects awareness of who you are and what you are all about. The phase of the customer buying cycle is where prospects make their first judgement of you. Awareness is the area where a lot of marketing and advertising departments spend so much time and money polishing the image of their business. It is important because it is where you can craft your message to appeal to the desired market segment.
Another important tool that is commonly used during this phase is Search Engine Optimisation (SEO). Businesses will commonly insert relevant keywords into their indexed pages with the intention of leading searching customers to their website.
2. Interest
The phase of the customer buying cycle when prospects come to you. Phase 1, the awareness phase is where you grab their attention, this phase is where you have a chance to build upon it.
Customers are typically non-committal during this phase; they are likely still doing plenty of research and shopping around. Targeting buyers during this phase means that you need to give your potential customer a compelling reason to purchase from you instead of your competitors.
The responsibility here is two-fold. First, you need to market yourself as the solution to the prospects unique problem. Second, you need to address the customer’s needs and perspectives.
Businesses will frequently offer positive reviews and testimonials of their products to convince these prospects that they offer the solution to their needs. Offering a persuasive sales pitch is only half of the solution: make sure that the customer feels that you are concerned with what they want.
3. Purchase
The main phase of the customer buying cycle includes not only the actual purchase of the good or service itself, but also the final evaluation. A prospect might still be reviewing their options in this phase. What differs from the interest phase is that they have shown a distinct desire to purchase the good or service in question. This gives you an opportunity to give the customer a more comprehensive overview. It is also the appropriate time to up-sell additional products or features.
Car dealerships are especially fond of this point in the cycle. Once the customer sits down and begins negotiating the price of their future vehicle, the sales team moves in. They do everything they can to get that person to buy the car. Whether they slash the price, throw in extra bonuses or offer them rebates.
This is where you want your sales team to take over. The amount of persuasiveness and personal magnetism they exhibit are every bit as important as their receptiveness and concern for the customer’s needs.
Do you now understand Why People Don’t Buy from Me (YOU)!!
For Entreprenaus also has a great article about this subject, read it by clicking here.
How is your business attracting more customers? Take my test here to get a full report on your sales and marketing pitch. To get more information on business coaching or any of my packages, call me on 07716 292378 book a call by clicking here or mail me at ianfinney@actioncoach.com
