By Victor Antonio, BSEE, MBA
Selling effectively begins with trying to understand what
problem or concern the buyer is trying to resolve. Once we understand the problem, we are more equipped
to position the product for easier acceptance.
But one of the things we want to ensure is that if the buyer goes down
the path of purchase, they don’t change their minds at the last minute due to
cold feet. To ‘block’ the buyer from
backing out, it would be wise to reinforce their buying decision.
The first step is to identify the buyer’s Dominant Buying
Motive (DBM). A DBM is the primary
reason a client will buy from you. Let’s
say you walk into a store with the purpose of buying a dryer. The DBM is the need to be able to dry
clothes. But if we look beyond the DBM
we’ll see that there are other mitigating circumstances that are “supporting”
the DBM.
Let me illustrate my point by using the need for a dryer to
dry my clothes as my DBM. I also know that by having a dryer I will also
solve other issues or concerns. For
instance:
-
I wouldn’t have to hang the clothes out to dry on the clothesline
saving me time, effort and some embarrassment
-
I don’t have to go to a public Laundromat to get my clothes
dry
-
The current dryer isn’t effective so the clothes smell of
mold
-
A good dryer could help me reduce my ironing time
-
I wouldn’t have to dry clean certain items thereby saving
some money
- My current dryer is a energy hog and I keep blowing a house fuse when I use it
So you see, although my DBM is the need for a dryer to dry
my clothes, I also have mitigating circumstances and reasons that support my
buying a new dryer.
In selling, most people just attack the DBM by telling the
buyer that having a good dryer is a good thing and then they go on to explain
all the latest bells and whistles (i.e., features) that come with the dryer.
A more effective strategy would be to emphasize how have a
dryer will solve the other mitigating circumstances surrounding a good dryer. Keep in mind that the buyer is
looking for reasons that support his decision.
So maybe a good sales pitch may go along these lines:
"You chose a great dryer. First,
you will no longer have to take the time to hang your washing inside or
outside. This will save you some time
that could be well spent doing other things. Also, think about the amount of time you’ll
save by not having to lug your laundry over to the Laundromat. Having a dryer immediately available after a
wash will cut down on the moldy smell you often get from clothes that haven’t
been properly dried. You’ll also cut
down on the amount of ironing time with the new steam jets in the dryer. These new dryers have the latest in energy
saving technology which means that over a one year period the average energy
bill is reduced by $100-$300."
Notice that in this sales pitch I didn’t just address the
DBM, but the supporting factors that will drive and push the sale forward. The DBM is what the customer wants. The underlying factors that support the DBM
are the ‘reasons why’ the customer really wants to buy the dryer. Think of these mitigating factors as legs that support
the DBM. The more support legs you can
place under the DBM the better. Again
want to ensure is the buyer doesn’t get cold feet by blocking the buyer from
backing out by reinforcing their buying decision.
Another important reason for wanting to emphasize the DBM
supports is the possibility of the buyer canceling or returning the
product. Now in the case of a dryer I
will assume the return rate is low. But
in general, buyers who’ve plunked down a large amount may start to feel some
‘Buyer’s Remorse’ and question whether or not their decision to buy was wise or
prudent. By emphasizing the support
factors a buyer will be able to rationalize and justify the purchase later on
when you’re not around.
Exercise: For your business, I want you to think of a typical client’s
DBM. Then, take the time to write down
3-5 reasons that support the DBM. If you don't know what those reasons are, then probe by asking the client questions regarding his motivation for wanting to buy. If you listen carefully, people in general will give you the necessary information to sell them. Then take
those reasons and build them into your closing sales pitch or as a reinforcement statement once the sale is made. If done correctly, you could realize a 10%
increase in your close rate and you may also be able to reduce your
cancellation rate by another 10%. If so,
then you could realize an effective increase in sales of 10%-20%.
Copyright
© 2008 by Victor Antonio G. All rights reserved. This article
MAY be reproduced in any form or by any means, electronic or mechanical,
including photocopying, as long as the author’s name, website and email address
are included as part of the article’s body. All inquiries, including
information on electronic licensing or sales training seminars should be directed to Victor Antonio G. at
info@victorantonio.com.