Process of Persuading
What is selling? My definition of a sale is, “Create an entity in significant form that someone takes it from you.” In its simplest terms, selling is the Process of Persuading the customer our product or service is of greater value to them than the price we are asking for it. Our market society is based on the principles of freedom of choice and mutual benefit. Each party enters into a transaction when they feel they will be better off as a result of the transaction rather than they would be without it.
For the customer to buy our particular product or service, they must be convinced, not only is it the best choice available, but also there is no better way for them to spend the equivalent sum of money. Our job as a business owner and leader is to convince the customer these conditions exist and then to elicit a commitment from them to take action on our offer.
The critical factor in selling today is risk. Because of the continuous change, rapid obsolescence, and an uncertain in the economy, the risk of buying the wrong product or service has become greater than ever before. There are four main factors that contribute to the risk in the mind of the customer.
The first factor contributes to the risk is the size of the sale. The larger the scale, the more money involved, the greater the risk. If the customer is buying a package of candy, the risk of satisfaction or dissatisfaction is insignificant. But if the customer is buying a computer system for their company, the risk factor is magnified by hundreds of times. Whenever we are selling a product that has a high price on it, we must be aware that risk enters into the buyer’s calculations immediately.
The number of people who will be affected by the buying decision will be another factor contributing to the risk. Almost every complex buying decision involves several people. There are people who must use the product or service and the people who must pay for it. There also may be people who are dependent of the results from the product or service. If the customer is extremely sensitive to the opinions of others, this factor alone will cause them to put off their buying decision.
The third factor will be the length of life of the product. A product or service, once installed, is meant to last for several years, will generate the feeling of risk. The customer panics and thinks, “What if it doesn’t work and I’m stuck with it.”
The fourth and major risk factor is the customer’s unfamiliarity with you, your company, and your product or service. A first time buyer, one who has never bought the product or service before, or who has never bought it from you, is often nervous and requires a lot of hand holding. Anything new or different makes the average customer tense and uneasy. This is why a new product or service, or a new business relationship with your company, has to be presented as a natural extension of what the customer is already doing.
A good way to start is to identify the risks the customer might find with your product or service. Once you have clearly defined those risks it will be easier to find solutions to ease your nervous customers.
“Remember, Success is always Within Reach”
#terry ogburn #entrepreneur #Business #Business Development #Business Sales #business coaching #business coach
For the customer to buy our particular product or service, they must be convinced, not only is it the best choice available, but also there is no better way for them to spend the equivalent sum of money. Our job as a business owner and leader is to convince the customer these conditions exist and then to elicit a commitment from them to take action on our offer.
The critical factor in selling today is risk. Because of the continuous change, rapid obsolescence, and an uncertain in the economy, the risk of buying the wrong product or service has become greater than ever before. There are four main factors that contribute to the risk in the mind of the customer.
The first factor contributes to the risk is the size of the sale. The larger the scale, the more money involved, the greater the risk. If the customer is buying a package of candy, the risk of satisfaction or dissatisfaction is insignificant. But if the customer is buying a computer system for their company, the risk factor is magnified by hundreds of times. Whenever we are selling a product that has a high price on it, we must be aware that risk enters into the buyer’s calculations immediately.
The number of people who will be affected by the buying decision will be another factor contributing to the risk. Almost every complex buying decision involves several people. There are people who must use the product or service and the people who must pay for it. There also may be people who are dependent of the results from the product or service. If the customer is extremely sensitive to the opinions of others, this factor alone will cause them to put off their buying decision.
The third factor will be the length of life of the product. A product or service, once installed, is meant to last for several years, will generate the feeling of risk. The customer panics and thinks, “What if it doesn’t work and I’m stuck with it.”
The fourth and major risk factor is the customer’s unfamiliarity with you, your company, and your product or service. A first time buyer, one who has never bought the product or service before, or who has never bought it from you, is often nervous and requires a lot of hand holding. Anything new or different makes the average customer tense and uneasy. This is why a new product or service, or a new business relationship with your company, has to be presented as a natural extension of what the customer is already doing.
A good way to start is to identify the risks the customer might find with your product or service. Once you have clearly defined those risks it will be easier to find solutions to ease your nervous customers.
“Remember, Success is always Within Reach”
#terry ogburn #entrepreneur #Business #Business Development #Business Sales #business coaching #business coach