Discovering how buyers buy is one of the crucial factors to a success business. Simply speaking, buyers have a four step buying system that is subconsciously a part of them.
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Velocity Selling TV Episode 42: How Buyers Buy
Bob: Welcome back to Velocity Selling Tv. My name is Bob Urichuck, founder of Velocity Selling and with us today is Matthew Whyatt in the Gold Coast of Australia. Welcome back for another episode Matthew.
Matthew: Thanks Bob, looking forward to it.
Bob: Now Matthew, we’ve gone through the attitudes, all the behaviours, we’re now getting into the competencies and how sales people should sell, and I think people need to know first how buyers buy. We’re all buyers, we follow a system, and of course sales people should follow a system, how do buyers presently buy? Why don’t you share that with our listeners so they get to understand how they themselves are even buying.
Matthew: Bob this is actually my favorite part. Well, you know what, it’s my current favorite part because I’m really getting into it with my current customers. And often, people don’t realise that subconsciously they have a system of buying. So the first step in that system of buying is I don’t need it and I don’t want it, and I don’t really have any desire for it. And how does that look like? Well, let’s say your wife walks into a dress store, the shop assistant says ‘Hi can I help you?’, the immediate reaction is ‘No thanks, just looking’. And whenever I put that to my audiences, people are always laughing, and nodding going ‘Yay, actually I do, even when I walk in there for something specific, no thanks, just looking’. So the first step is to reject the sales person. So the second step is to get what I call free consulting or what we call free consulting. What that means is the buyer asks questions, and the sales people answers questions. And throughout the competency part, we’re going to uncover that the person asking the questions is in control. So what you need to do is understand that you’re not actually serving the customer by answering questions. Now I know that sounds a little bit controversial and in future episodes, I’ll really unpack that for you. The third step in the buying system, how buyers buy, is once again they say ‘I’ll get back to you, I need to think about it, I need to talk to my board member, I need to talk to my wife, I need to consult my astrologist or my dog, it doesn’t matter, they’re just trying to push you away. And once again that’s an in built hard coded thing, even if they want to buy from you they don’t feel that they should buy from you because they need to think about it. And just by the way, in the history of anybody, nobody has actually said, Look, dim the lights darling, I need to think about it. So they should, they really do know. And the fourth part, and I’ve spoken with quite a few new businesses, new customers of mine, one customer says ‘How many open opportunities do you have?’ He said, over two hundred which equaled over a couple of million dollars worth of business sales because they fell into the buyers system. They, first of all, got through the fact that they didn’t want it, then they felt they needed to answer all the questions, they provided a quote or a proposal, and then what happened to the customer’s in the fourth step which is, they hide. So how many of you today listening, are looking at your current data base and are following up with customers who are hiding from you?
Matthew: So now that we understand how buyers buy, how can we uncover, and unpack that? We’ll definitely talk about that in upcoming episodes.
Bob: That’s fantastic Matthew, and that’s a good point you know so, Step one, they mislead us, they don’t be totally honest with us. Step two, they get as much free consulting out of the salesperson as they can, and then they mislead the salesperson again by saying I’ll get back to you or I’ll think about it and when you do get back to them, they hide on you and you get nowhere. And that really describes the system and what we’re going to be able to show our listeners over future episodes is how the Velocity Selling system overcomes the buyers system, yet the buyers feel they are in control while they are being engaged and empowered to make decisions. Well that’s great Matthew, I look forward to another episode next week.
Matthew: Thanks a lot Bob, bye for now.