The 'Why' In How People Buy

Let's talk about the most important (and most precarious) part of a sale - the close. And, what can go wrong in a sale.

Here are 5 reasons stopping customers from buying, I call MTNUT:

M = No money

T = No time

N = No need

U = No urgency

T = No Trust

When you’re talking to a customer I want you to have this model in your head. They’re resistant to buying your product, the resistance is high, and they don’t want to be sold. Our job is to lower the resistance over time, whatever time your presentation is, and somewhere there is this magical line where they cross over and they say “ah I’ll buy, you’ve convinced me, now is the time to buy”.

Now let’s look at the 5 reasons people don’t buy:

Money

There is a small percentage of people who literally don’t have the money to buy. The majority of people have the money and are willing to spend the money if you can show them the value of what you are offering. So money isn’t really an excuse.

  Time

Some people say they don’t have any time. Well, guess what, I don't buy into that either. If I can show you how to save money, you will make the time to save that money. If I can show you how to make more money, you will take the time to learn how to make more money. Time is not really an issue if you can prove the value. So if money is not the issue, time is not the issue, maybe it’s the need?

  Need

Some people know they need something, some people don’t. There is something called a “trigger event”. This is when something happens that makes you realize you need to take action. Our job is to make them aware that they need something. So the first question to ask is “Does the customer know that they need this product?”, "How will this benefit the customer?". However just because a customer needs it, doesn’t mean they will buy it. If we know that they need it, they know that they need it, is it urgent? We’ve all been in this situation: I need that, but do I really need to get it NOW? Is it really that urgent?

     Urgent

So our job now, if it’s not about the money, it’s not about the time, they know they need it, then our job is really to create a sense of urgency; why they should do it NOW. What we have to do is show them why they need to take an action NOW. In other words, if they don’t take action NOW they are going to lose money. If they don’t take action now they’re not going to make as much money, if they don’t take action NOW they are going to miss out on a great opportunity. You have to learn to position yourself in such a way that the customer feels the sense of urgency. Selling the gain VS selling the pain. You can sell the gain which is the features and benefits, but it is always good to sell the pain of not making a decision.

You’ve got them to acknowledge that they need it; you moved them over to a sense of urgency, the last part is: do I TRUST you and the product you are offering to solve my problem. Can it really help me?

Trust

I want you to start analyzing why they don’t buy, is it really about the money? Is it really about the time? Maybe I didn’t create the need first, or maybe if I did create the need, maybe it is that my story isn’t compelling enough to create that sense of urgency. Or maybe you did create the need, and you showed them that it was urgent, but you know what, they didn’t trust you.

Then you have to ask yourself: how do I develop more credibility? How do I gain their trust?

And as you begin looking at these 5 pieces of your sales presentation you begin to get a better idea of how to position yourself and how to walk through those phases.

Target these 5 phases of not buying to reduce the resistance and you will hit that famous BUY level.

Learning how to effectively maneuver and block these underlying objections will increase your revenues and make you a better sales person. Here's a quick how to:Response Block Selling

Victor Antonio has a B.S. Electrical Engineering, an MBA and built a 20-year career as a top sales executive, then President of Global Sales and Marketing for a $420M company before becoming a sales trainer, author, and keynote speaker. He has shared the stage with top business speakers: Rudy Giuliani, Paul Otellini (CEO of Intel), and John May (CEO of FedEx Kinkos). He's the author of 12 books on sales and motivation and 200+ sales training videos. More info at www.VictorAntonio.com