July 6, 2012 by Bob Hill
Posted in: closing, In this week's e-newsletter - Sales & Marketing, Industry Spotlight - Sales & Marketing, Latest News & Views - Sales & Marketing
New research reveals the overwhelming majority of buyers are more compelled by what feels right than they are by a side-by-side comparison of features and benefits.
More than 85% of buying decisions are based upon emotional response, according to years of research by renowned business psychologist Antonio Damasio.
Here are five of the most common emotions that guide prospects’ buying decisions, along with some creative ways for salespeople to tap into each one.
Acceptance. Prospects are constantly on the lookout for new ways to increase their standing within an organization (or industry). Salespeople who can demonstrate how their products and services can help the prospect achieve that goal (e.g., enabling the company to save on costs or gain a competitive edge) position themselves as advocates, intent on helping the customer’s business prosper.
Validation. Customers want to feel like their input is valuable, and they generally gravitate toward salespeople who reassure them regarding any concerns they might have. With that in mind, business psychologist Mark Ingwer suggests salespeople respond to valid objections via these three steps:
- Empathize with what the prospect is saying, explaining that he or she has provided you with a new angle to consider the situation from.
- Reconcile by agreeing with what the prospect has said.
- Affirm the prospect’s point of view by reframing your value proposition based on his or her perspective.
Convenience. In today’s competitive marketplace, the more convenient a a salesperson can make it for a prospect to do business, the more likely the prospect is to consider making a purchase. Successful salespeople make it a priority to understand each prospect’s buying process early on, partnering with the prospect to ensure each step is tailored to meet the company’s expressed needs and preferences.
Control. Along the same lines as convenience, most prospects want to feel as if they’re the ones calling the shots, rather than being pushed into an impulse buying decision they’re not certain about. Along those lines, it may be helpful to relinquish a certain amount of control, allowing the prospect to dictate a timeline for the sale, as well as how and when the two of you will meet to discuss each step.
Belonging. One of the most compelling reasons why a prospect might consider doing business is the notion that several top competitors are benefiting from a product or service he or she isn’t using. Testimonials from well-known names
in the region or industry are tremendous resources in that regard, specifically those that highlight all the ways a product has enabled a top company to thrive.
Adapted from the book Empathetic Marketing by Mark Ingwer, the founding partner of Insight Consulting Group, a national sales and marketing development firm. For more, visit www.insightconsultinggroup.com