Tuesday, July 24, 2007

Do You Know Why People Buy Your Product?

Stepping back and understanding the big picture of sales can help any salesperson increase their sales margin. Do you know why people buy anything? Gaining an understanding of the following six reasons why people buy will improve your selling ability.
1.Fear
is one motivator that is possibly driving your prospect to consider purchasing your product or service. An example of this could be an insurance policy against possible loss or tragedy. If you understand this then you can gear your approach to your prospect accordingly. You need to show this type of prospect how your product or service can effectively reduce his or her fear. Once you’ve done this, you will most likely be able to finalize the transaction.
2.A desire for gain
is another possible reason that your prospect is considering your product or service. An example of this could be some sort of investment opportunity with a hope for financial gain. The key to approaching this prospect is to show how your product or service is superior to other comparable products or services, and how you can promise more gain. Reduce the risk. If the prospect truly feels that your product or service can promise long-term gain with minimum risk, then you are more likely to close the sale.
3.Pride
is another possible reason that your prospect is seeking your product or service. Pride of ownership is a powerful motivator, and may include clothing, cosmetics or luxury automobiles. Your prospect may wish to consider purchasing your product or service because he of she is interested in impressing friends or family. Distinguishing this type of motivation is fairly simple because this type of prospect will be seeking a product or service in accordance with his or her wants or needs. Show how your product or service can inspire pride and your prospect will react warmly to your product or service.
4.Imitation.
The prospect who is interested in what may be termed as imitation is interested in purchasing a product or service that is similar to existing quality items. You must prove to this prospect that your product or service is of equal or greater value to the product or service that he or she wants to imitate. Examples of imitation items might be toys, furniture or sportswear.
5.Gratification
is another motivator that drives prospects to seek your product or service. The prospect who is seeking to gratify some need or want is fairly simple to satisfy as long as you prove to them that your product or service will fulfill this need or want. Food and beverages fall into this category. You must be careful not to forget that there is much competition, and while such items as food and drinks are never going to run out of demand, your competition can provide better prices and such than maybe you can. You need to build the value of your product or service in the mind of your prospect.
6.Empowerment
is a motivator that drives prospects to buy because they wish to feel better or stronger. Fitness programs, self-help materials and self-image books are included in this category. In these instances, you need to sell your product or service on the basis of the value built in the mind of the prospect. You need to demonstrate exactly how your product or service will be able to increase your prospect’s feeling of well being or strength. Because these particular types of prospects are typically seeking independence or self-sufficiency, you should allow them to lead the sales situation.
While the motivations behind each and every prospect’s buying drives are rarely readily apparent, the better you become at identifying the focusing on these drives, the more successful you will become in your sales career. Don’t always assume that these are the only reasons that prospects want to buy. There are other reasons. The fact remains, however, that the more intimately knowledgeable you become with these reasons, the better you will become at solving your prospects’ problems or fulfilling their wants, needs or both. The salesperson who succeeds the most is the salesperson who possesses a genuine interest in helping prospects get what they want. Try to understand the prospects’ reasons for buying, and you will most certainly increase your sales success, as well as your income.

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