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The 5 Reasons Why People Don't Buy and What You Can Do About It!Imagine knowing why people didn't buy? Wouldn't that be powerful? What would you do with that knowledge? Something differently I hope! They say knowledge is power and once you know why people didn't make a purchase you'll be empowered to change your sales and marketing approach. In the showroom or on your website, in the home or over the phone and in all of your advertising - you need to address these 5 fundamentals or risk losing sales. Regardless of the circumstances the basics do not change, but some of us have never been taught them. Next time you, or some one in your organisation, deals with a prospect that seems promising, but the sale doesn't get completed, ask yourself "Were the 5 reasons dealt with adequately?"
No Need Often fear is used to underline Need. "Where would your family be if something happened to you? You need life Insurance." We all have many Needs and they act on us at many levels, but do we really recognise this? We all need Insurance but do we Desire it? Not really, unless we are compelled that if directly satisfys a need we have recognised.
No Desire Is Desire the most powerful motivator of all? I think that often it is. Our Desire to feel loved and accepted is irrisistable. We will often buy for purely emotional reasons and then justfy the decision to others (and even oursleves) using logic. These emotional reasons or desires may be hidden sometimes. As marketers we don't always have to fully understand them as long as we recognise and utilise them.
No Money If you can help solve this one then there are a lot more sales for you on the other side of this objection.
No Trust Most would agree that having trust is vital, and the more expensive the product the bigger role Trust plays in the Buying decision. Every thing else can be right but if the Customer gets the wrong vibe, or not enough of the right vibe, there will be reluctance. If we are dealing face to face we can inspire Trust with eye contact, our hand shake and body language.
No Sense of Urgency There is no point overcoming everything else and then have no call to action. Direct your Prospects as to what to do, why and when! Deadlines, impending events and fear of loss are the order of the day. Two major people motivators are Greed and fear of loss. I know this sounds crude but it is true. We all want to gain with out loosing. Thats how simply we think about getting ahead.
Now you know what the 5 reasons are, they will seem so simple and you'll continually see astute marketers using them. No how can you incorporate this knowledge into what you do and how you do it? Do you inspire Trust and reduce risk? What options do you offer to solve the No Money objection? Do you establish Need? How well are you building Desire? Can you do more to generate a real Sense of Urgency? (See the Article on the Buying Process)
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