Why people don't buy from you - Part 1
"Why don't people buy from you?"
This question has an immediate effect, focusing the discussion on all the potential purchasers who do not purchase from you. What could you do to change their purchase decisions? How many additional clients or customers could you be gaining if you addressed this question?
Most companies will research why people purchase their products or services. They craft communications to attract more of that group and overcome their objections. It is, of course, smart business to understand the prospects you want to attract. So don't stop what you are doing, but consider another angle. Why don't people purchase from you?
In over two decades of asking this question, a few themes stand out. Select which ones might apply to your business and expand your client base.
Your prospect has no need
At least that's what they think. To earn the title of 'prospect' you must have identified their need for your services. Otherwise they wouldn't be on your marketing communications radar. The answer: find ways to educate them about their need, not just your product or service. A financial services industry client of Image 7 Group was entering a new marketplace, where the prospects were very aware of the result of their purchase (insurance) but were not at all familiar with the mechanism to achieve it (a mutual). We spent the first eight months building the business through marketing communications that educated the prospects about the concept of mutuality and only then asked them to join. Three years later our client had over 40 percent market share.
Your prospect has no money
At least that's what they think. Could it be that a significant portion of your potential client base thinks they can't afford your product or your service? The obvious answer is to offer ways around lump sum payments. Make payment terms, offer payment by credit card, arrange external financing ... anything to make payment as easy as possible. In my experience though, it's commonly not a question of having the money available. The real question in the prospect's grey matter is value for money. Is your product or service going to deliver them more value than, say, saving for a holiday? That's your job as a communicator.
More reasons people don't buy from you in Part 2
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