Ever wondered why your customers choose not to buy from you? I’m talking about the good leads, folks who fit your target market to a tee, people for all intents and purposes should be buying. I believe there are four reasons these people don’t buy, work on these and you’ll go a long way in converting some of those customers who are currently going away empty handed. And the good news is 3 out of 4 are directly within your control.
- Poor Sales Tactics
The first one is the most obvious, and hopefully the easiest to overcome. Once you have that qualified lead, or the person in your store who SHOULD be buying from you, are you doing what it takes to close the deal. Remember the Easiest Way to Sell Stuff Ever? Simple tactics like that will help you convert. Software like Tableau or Power BI can help you analyse where you’re going wrong, but as mentioned above, simplicity is the key!
- Uncertain of Value/Benefits
If I’m your target customer, and for the sake of argument let’s say you aren’t selling junk, one reason I may not be buying is that I’m unclear on what value I’m being given (looking to shop around?), or am unclear on the benefits (why do I need this?). Seth Godin just had a nice post where he examines the value equation, noting that most marketers get it wrong by expecting customers only want a lower prices – when in reality customers want value. Show them value = get more sales. Also, don’t forget the “value” of explaining the benefits. I don’t care that you’ve sell 2,000 different types of wine – I want that one bottle that will take away the stress at the end of a long day, and transport me to Italy. Show them benefits – get more sales.
- Uncertain of Guarantee
“Am I going to get ripped off?” This is going through your customers mind more often than you’d like to admit. You know you’d never rip anyone off, but how well do they know that. And are you giving them a guarantee that completely puts their minds at ease? Which are you more likely to buy from “Money back within 30 days, as long as you have a receipt and the item is unworn” or “Full money back guarantee, no questions asked, no time limit”?
- Wrong Place Wrong Time
There is a chance you are interacting with the consumer at a place and time where they just aren’t ready to buy for whatever reason. If you assessed you’re doing a good job with the other three reasons, the wrong place / wrong time customer should be few and far between. The only thing to do here is to try and get them back when the timing’s better.
This is what it came down for me after I looked at why “would be customers” weren’t buying from me. Have you found the same thing with your businesses?