What Motivates Buyers to Buy From You
by Russell Hart
To my network in the corporate sector involved in selling and business development, here's my take on what motivates buyers to buy from you.
Call this the secret sauce or recipe but you'll find it applies to most corporate product/service selling situations.
All 4 need to be in alignment before you can move forward with your buyer.
1-Importance
2-Confidence
3-Credibility
4-Timing
IMPORTANCE
Find out what's important to your buyer in the context of why they should buy your product or service. Why is it meaningful to them? Will you be solving a problem or is your buyer looking for success, recognition or prestige. Could they be reacting to peer pressure?
-On a scale of 1-10, how well do you understand your buyers motivation?
-Ask insightful questions to figure out what your buyers primary motivation is
-If there's a problem that needs solving, take time understanding what the problem is
-The more acute the problem, the more urgency there is to take action
-Focus your marketing/communication on fulfilling the importance reason
CONFIDENCE
It's the buyers level of confidence, not yours, that we're discussing.
Your buyer must be confident that what you're selling will deliver what's IMPORTANT to the buyer. If the buyer is not confident, then you'll be met with stalling, delay and rejection. The buyer won't be buying from you.
And it's not just about the solution you're selling. You personally, the sales/business development manager, must also deliver the right level of confidence and competence. Your performance matters because you influence your buyers confidence.
By right level, I mean the appropriate level of confidence to match the buyers perspective. Too much and you'll be perceived as arrogant, too little and you'll be perceived as weak.
-Moderate your communication and behaviour to match your buyer
-Work on your self awareness and empathetic skills
-Identify what KPI's are relevant to your area of competence
-Consider coaching to improve your performance (you may not be as competent and confident as you think you are)
CREDIBILITY
Your credibility is built through a number of stages. Firstly, you must demonstrate you have the knowledge, confidence and competence to talk about your product/service.
You should add in customer endorsements when appropriate. Social proof (others have faith) helps to validate your credibility and reduces the risk in the buyers mind.
Thirdly, demonstrate you can be trusted and are reliable. No buyer will take the risk of you letting them down. Pay close attention to detail in all communications, both verbal and non-verbal. Simple mistakes can make a big impact.
Avoid the following mistakes which can erode your credibility;
x Being overly pushy
xTalking too much
x Not listening
xMaking exaggerated, unproven claims
xEvasive behaviour
TIMING
Lastly, once 1-3 have been satisfied, the TIMING has to be right.
The timing has to be right for your buyer, not you. If your corporate buyer has other priorities or a long list of projects they need to take care of, no amount of pressure or persistence is likely to persuade them to buy.
- Be patient
- Follow up ( timing can change very quickly based on internal/external factors)
- Look for company announcements that impacts your buyer
- Be respectfully persistent
If you're stuck in a sales cycle and wondering why you're not getting results, there's obviously something not working with your process.
Like any athlete or performer, you can design a set of metrics to increase your performance in any of the above areas. Consistency is key to obtaining improved results.
Commit the time and effort to think clearly and intentionally about what could be continuously improved.