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The 4-Core Reasons Customer’s Leave and Prospect’s Don't Buy!
Understanding the psychology of the marketplace towards You and your Deliverable/Offer is critical in your predictive analysis of how you market, engage and connect with the market to make a sale or repeat sale. This understanding also impacts your ability to win-back lost clients and advocates.
You can do a deep dive for your industry as to the core psychological “logic” reasons for decisions and you can perform the same on the “emotional” level of reasons for decisions that align to you or away from you. What overwhelming research reflects is that there are four dominant “emotional” reasons that tend to tip a decision in one direction or another, and then the customer or prospect looks for evidence or “logic” to re-affirm their decisions.
Research indicates that customer’s leave for one of four core reasons (typically “emotional” reasons at the outset) and I have also recognized that these may be the same reasons that prospects are not attracted to you. To put it another way, the psychology of winning and losing the sale sits within the mind of the person that you are engaging, and your ability to be moved to you by these four reasons and we can lose them if someone else makes an offer that they can deliver these or a combination of these in a more meaningful manner than you.
So, consider your presentation flow, reflect on what and how you say what you say, and align that with the driving reasons that a customer or prospect may be engaging you. People typically are looking to maintain or gain:
- Better – Natural tendency is for individuals to want equal to or better in their next transaction from their last transaction. How to you convey what you have is better than other market options?
- Faster - Natural tendency is for individuals to want equal efficiencies to or more efficient/faster in their next transaction from their last transaction. How to you convey what you have is more efficient/faster than other market options?
- Different - Natural tendency is for individuals to want an edge over others and not-look exactly like others or a differentiator in their next transaction from their last transaction. How to you convey what you have is markedly different and thus worth the change than other market options?
- Cost-Effective/Financial - Natural tendency is for individuals to want the biggest bang for their buck as the saying goes or more for less in their next transaction from their last transaction. How to you convey what you have is more financially beneficial than other market options?
Ask yourself … If you look and feel just like everyone else in the marketplace, then why should someone change from where they are doing business and transition to you? Or, if someone is a prospect, why should they entertain your offer over what they are presently receiving and where they are comfortable … Or worse yet, why should a complacent prospect not doing business with anyone all of a sudden be motivated to become a customer if they see you as not being able to make their quality of professional or personal life – Better, More Efficient, Different or more Financially rewarding?
Reflect on your pre-marketing materials sent into a marketplace, your marketing messaging sent to an identified contact, your social media messaging, what is conveyed from your website statements/images/video/posts/etc., what you actually ask as questions to reveal from the customer or prospect how each of these are presently being addressed from their perspective, identify how you address and defend these in your presentation or proposal, and all of your follow-up messaging and call-to-actions?
The more clarity you can gain as to what a customer or prospects buying motives (pain or pleasure points) and fundamental needs are, you can then align that with how you illustrate and keep illustrating how you can address their needs from the four core drivers or combination of drivers that you can deliver to them.
Understanding the psychology of the marketplace towards You and your Deliverable/Offer is critical in your predictive analysis of how you market, engage and connect with the market to make a sale or repeat sale. This understanding also impacts your ability to win-back lost clients and advocates.