What buying decisions do business buyers make?
THE BUYER'S Path AND THE 5 Purchasing Choices:
1) The Salesperson's Personality: The first impression a prospect has of you is more important than the product or service you offer. The unspoken questions are as follows:
1. Your honesty
2. Your point of view
When they ask about your integrity, they're trying to figure out whether you care about their success. Are you familiar with their company's requirements?
The test of judgment is whether you understand and can demonstrate how what you give corresponds to the client's true needs and desires. The more you know about your business, the market you represent, the prospect's market segment, and their potential customers, and the more you can reflect that information with integrity and confidence, the better position you'll be in to answer the prospect's questions.
2) Your Organization's History: The client must believe in the integrity of your business in addition to loving and trusting you. You are the one that establishes a lot of this. Nonetheless, the prospect needs to believe in the company's credibility and dependability.
Their expectations can range from a high degree of assumed reliability (complete my order correctly) to a trusted advisor who is an integral part of their operations.
3) Concerning the Good or Service:
The prospect isn't just determining whether or not to purchase from you. “Does this product or service really suit my needs?” they want to know, both emotionally and intellectually.
The prospect is choosing between you and two other possibilities:
1. No action is taken.
2. Additional options
Other options aren't just other businesses that you'd classify as direct competitors. The customer might be weighing whether they want to spend the same amount of money on an additional employee or a separate capital purchase while evaluating your product or service.
When a purchase is made by a larger group, many individuals with different goals and interests control the purchase even more than your key contact or the individual you see as the "decision maker."
If you're selling to a small or large corporation, you must add enough value to the customer's business to be seen as a better investment than other alternatives.
4)Concerning the Cost/Value: Now the client is ready to think about price, however he or she considers "affordability" to be the sum of money that will be returned on the investment.
The greater your credibility in the first three purchasing decisions, the more the deal will be about merit rather than the lowest price. That is why it is important to resist asking, "So how much does it cost?" before you have developed a stable base of value.
5) The best time to buy: When sellers and marketers are aware of the decisions made during the buyer's journey, it not only aids sellers in conversations with prospects, but it also aids marketers in the development of content and sales enablement resources that can be used to generate more leads and cultivate leads.
You don't know what choices they're making or when they're making them, so don't miss out on an opportunity to create qualified leads and cultivate qualified prospects. Take the time to get to know your target persona and completely comprehend the reasons behind their choices so that you and your product or service can assist them in meeting the needs and expectations for which they are searching for answers.
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