Why customers Don’t Buy? Reasons and Solutions
Sales managers encounter obstacles to closing deals. Here are key reasons and potential solutions:
1. Emotions Rule: Customers prioritize emotions and trust over price, quality, etc. They buy when they believe the product solves a problem, offers a good deal, and the seller is trustworthy.
Solution: The sales process is a journey, starting from initial contact and progressing systematically. Imagine “closing the deal” before even negotiating. This happens when customers, based on information received, have already decided to buy before or during your presentation. This occurs when your brand is well-known, your marketing has convinced them this is the right product, and your company is the answer.
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2. Timing is Crucial: Imagine needing office furniture for your new office. You’re actively exploring options. A salesperson tries to sell you a lawn mower. You wouldn’t buy it because you don’t need one at that moment. The reverse is true too. You need a lawn mower, but the salesperson tries to sell you office furniture.
Solution: Defining the right market segment and target audience prevents wasting time. In the example, the individual was the same, but their needs differed at two different points in time. Before any interaction, identify your ideal customer segment, target audience, and potential customers. Then, begin the 4-step sales process: Identification, Contact, Offer Solution, Close the Deal.
3. Budget Constraints: Customers might not buy due to the product exceeding their budget. This can have two explanations:
- Incorrect Audience Selection: The product might be priced too high for your target audience.
- Value Perception: The customer may have the budget but doubts the product’s worth at the given cost.
Solution: For the first scenario, this customer isn’t your ideal target, so don’t waste time persuading them. In the second scenario, your marketing or presentation might be lacking. You may not have fully understood the customer’s pain point or established trust. Focus on understanding their needs through research and questions. Tailor your solution to their challenge and present it effectively.
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4. Lack of Urgency: Sometimes, customers recognize the product’s value but don’t feel a pressing need to buy. They might need time to decide and compare with competitors.
Solution: When customers don’t feel urgency, employ strategic techniques to create it. One effective method is offering limited-time promotions, such as price discounts, free delivery, or bonus features. By making the decision and purchase urgent, you can nudge the customer towards closing the deal.
5. Desire Drives Sales: Since emotions influence buying decisions, consider harnessing them to shorten and smooth the sales process. Buying isn’t always driven by need; sometimes, desire takes the wheel. Why do some people buy a 300,000 euro car when a 100,000 euro one fulfills their needs? How can we spark desire for our products?
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Solution: Consider two pens from the same renowned brand. One costs 450 euros, the other 2,000 euros. Both share the same brand, materials, and performance. The sole difference? The second pen is limited edition, with only 18 produced. A simple sales tactic can add over 400% in perceived value!
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