Why People Don’t Buy What You Sell
In today’s episode I’m going to talk about why people don’t buy what you sell. This is kind of like the big elephant in the room, so to speak, that can happen regardless of what industry you’re in.
And I’m going to go through five elements of making the sale that could be contributing to why you’re not actually closing the sale today.
Regardless of how good you are with selling, you will never ever have a 100% success rate. But when you’re regularly losing deals that you should have been closing, then it’s time to investigate what’s going wrong!
Do the Hard Work Upfront
The hard work should be done before you actually start selling, so that when you hit a roadblock in the sales process you know how to fix it. It takes time and to do research and some hard work up front regarding who you’re selling to, but it’s totally worth it and it makes more sense to spend the time upfront than to get stuck marketing your products and services not know how to deal with this element of the process.
Below, these are some broad questions that you should have a clear defined answer regardless before you start doing any sales. If you don’t have the answers to these, you can pause, think back, take notes, and get your answer before he actually start selling your products and services.
1.Why you Sell what you sell?
How did you get to where you are today to actually thinking and creating this product or service in order to sell it. In order to sell any product it needs to actually be awesome in order for the whole process to work. So it’s really important to get your products and services validated.
This validation process will answer if the product is great and people will buy, or if there’s some weak links and you need to kind of fill in the holes.
Some ways of validation is to offer it to people to try to free, or give them some demo and ask for the feedback, and this will help you validate your product. If it’s good enough, then you can collect testimonials from users through a anonymous feedback survey in the process.
If your product is not great and you’re not excited about it, this is a way to go back and create a better product. No one will buy a mediocre or bad product, so spend some time and really create a great product or service.
Now never get your friends and family to go through a beta test or through a new product or service or to ask them, and that’s because usually they’re not your optimal demographic. You want to ask people who you actually want to serve. Don’t ask your mom, don’t ask your sisters, chances are they’re not your demographic. Go out and find your true demographic. Get them to test your product or service. Collect testimonials, collect feedback, go from there.
2. Find out your prospective buyers.
You really need to know who your ideal customer is. Where are they hanging out? What are their pain points? If you’re targeting everybody, you’re actually end up targeting nobody. Unless you know who your ideal customer avatar is you’re not going to be able to sell your product. For example, a relationship coach must know their customer avatar, as a 25 year old girl looking for love and a 52 year old woman looking for love will have completely different expectations in terms of what they’re looking for.
Similarly, a health coach should know their customer avatar, as a 22 year old guy and a 45 year old guy will completely different goals. One will be looking to build muscle, whereas other want the other one will be looking to stay fit and healthy.
So once you have your ideal customer avatar determined, find out where they actually spend time. Which social media platforms are they using, which groups are they in? And this will help you to know your prospects and how to best serve them.
If you are looking for every customer avatar to work through this, if you’ve never done an exercise like that before, we have a free download on how to actually work through the process of determining your customized avatar and finding more facts about them. Click Here to Download the Customer Avatar Worksheet.
3. How will your product/service transform your prospective buyers life.
Step number 3 is how does your product or service transform your buyers life? We’re not selling a product, we’re not selling features or benefits, we’re selling the transformation, so in order to effectively market you need to know how your product or service transforms your buyers lives. You can make an image to show your customers transformation journey of how their life was before and how it is after, and you really should be able to show what this transformation.
For example, mattress manufacturers will often showcase that before is the customer not getting enough quality sleep and that after they will have the great new quality sleep in the new mattress.
Prime example for myself, I’m a marketer, before, my clients are not getting any leads and not making any sales, and afterwards they have so many leads and sales coming in that sometimes they ask me to stop. So that is the transformation that I provide, and that is really important for you when you’re going into the sales process to understand that in all your marketing how you actually transform your buyers life.
4. Why should a prospective customer buy from you
Step number four is why should a prospective customer buy from you? As we dive deeper, this is going to become more interesting. So maybe now you have a great product, you know where your target audience is hanging out. Why would they buy from you versus your other competitors? Chances are you’re going to have competitors. You want competitors. If you’re going into a market where there are no competitors, it could be that there’s actually no market, so having competitors is normal. You want some healthy competitors out there. But you also need to stand out from your competition, and position your product and your company in a way that is unique and it sounds different.
What is your unique selling proposition? How are you different from other individuals and companies providing the same services as you? You really have to sound like a market authority with some credibility, and in one of our future videos we’ll talk about some ways in which you can gain some instant credibility, but that’s really, really important to the whole process.
5. Are you making an irresistible offer?
Sometimes, by the time we get all the different pieces together, we can’t forget to make it irresistible. And there’s different psychological triggers.
Robert Cialdini talks about psychological triggers on how to actually position your offering, your product, to make it irresistible. Because you can have a great track product and you could be sending all sorts of traffic to your website and your product and service. You have all sorts of sales calls, discovery calls booked and everything like that. But if you don’t have an irresistible offer to actually make people jump out it they will flop. So how you package your products and make the offer make a huge impact on your sales.
Here are a few things that can make an offer great.
a) Offer Payment Plans: If you’re selling a high product or service, always offer some monthly payment plans, and that’s just because not everybody’s going to be carrying around 10 grand in their pocket. That’s just the reality of it. Always offer a payment plan.
b) Offer a Discount: Always offer a discount, especially if they sign up right away. Say, “You know what? If you sign up in the next 24 hours, you could save 10%,” something like that. How you compensate for that as a business owner is just raise your price up 10%, so that your base rate where you are comfortable with is what you actually offer with the discount rate. Lots and lots of examples in different industries that do that.
c) Offer a Bonus: You can offer a bonus, and you’ll see this a lot of time on sales just like at the very, very bottom of the sales page, you’ll have a bonus. Something to actually trigger people to actually make that step and say, “That’s what I want,” and I’ll give you a little tip on this. The bonus is usually the best part. Whatever the product or service is, make it your best part of it, make it the bonus, that will actually tip people over to actually purchase it.
d) Create Bundles: You could always create bundles. People love bundles. They feel like they’re getting a discount, a special deal if you combine things. So if you have like, for example, in my industry in marketing, I can offer Google ads, Facebook ads, e-mail marketing, and marketing strategy, or I can combine them all at a discount than if you were to purchase each one individually. People love that.
e) Offer a Guarantee/Return Policy: Always offer a guarantee or have a return policy regardless of what you’re doing, and it just is to build credibility and trust. That’s all it is. 99% percent of the time no one will ever actually try to redeem the money, and if they did it would be like right away and it would be like they had a regret is usually what it is, and they’re not your ideal client, anyways. But a guarantee or return policy, you engage in the trust and the authority that you actually stand behind the products.
f) Show Urgency: Lastly, always show urgency, and this can go with the discount, right? Always saying, “If you want this, it’s only good for 30 days,” … 7 days, whatever it may be. Always offer some urgency with a deadline on when your products will expire.
So hopefully you found these five tips and tricks on how to make your sales process a little bit more streamlined, a little bit more solid, helpful. If you have any comments, questions, or concerns, pop them into the comments below.
If you ever want to book a free marketing strategy call with me for your own business, regardless of what it is, it could just be generic like how to set this up? Or it could be specific, like you know on my Facebook ads working properly and how could I optimize them? I offer free 30 minute consultations you can book them at tribalmarketer.as.me at any time.