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Today’s Commission Breath:
Sales: Why customers actually buy from us
Finds: Airbnb x Blockbuster = just $4/night
Food for thought: Life 101 via @Orangebook
Let’s get right to it.
Why Do Our Customers Buy?
Aside from you being a killer closer, and “because they want it, duh”, customers have their own reasons for buying from you.
When broken down, there’s 4 common motivators that drive a purchase - without one of them, getting a prospect to buy is an uphill battle.
Pro tip: Yelling at them doesn’t work.
4 Reasons Customers Buy
Pain in the present i.e. “Holy shit we need a solution right now”
Pain in the future i.e. “We can’t let that happen to us down the road”
Pleasure in the present i.e. “It’s summer, let’s buy some Claws and hit the beach”
Pleasure in the future i.e. “Just bought some bitcoin, it’ll be worth $100k someday”
In our b2b world, pain is easily the strongest motivator for a prospect to buy. I define it as the difference between where the prospect is, and where they want to be.
We can all agree that making a sale is a hell of a lot easier when your product solves a prospect’s immediate problem (pain in the present).
Pleasure is a compelling reason too though - it’s why I continuously get suckered into buying a new shirt off Instagram ads. 7 henley’s and counting babyyy.
But without pain or pleasure as a factor, your product/service is unlikely to provide enough value to drive a purchase.
Use the 4 Reasons To Your Advantage
I use the 4 buying reasons as a general framework for how to look at prospects purchasing decisions, but they can also guide your sales efforts in a few ways:
Heat Check🔥
Use them to set expectations both personally and for your higher-ups.
Look at your pipeline - how many prospects fall into the pain category vs pleasure, and specifically how many are in buying mode to solve pain in the present moment?
Understanding which motivator is behind each prospect helps you rank the strength of your pipeline and project potential deal revenue.
Double Down
Once you identify which reason is your prospect’s top motivator, hone in on it and paint a picture for them of how your product/service can specifically accomplish that.
If they’re considering buying due to fear of something going wrong in the future, how can your product prevent that from happening and give them peace of mind today?
Identify the motivating reason for interest, and double down on how you can fulfill it!
That’s it for this week’s sales insight - if you enjoyed it, share it with any friends or colleagues that are in sales!
What Do You Meme?
I concur Frank 🤝
Interesting Finds
The Last Blockbuster Teams Up With AirBnB
This is awesome. Sleep over at the last Blockbuster (Bend, Oregon) for just $4/night!!
New Englander’s Rejoice: Dunkin' Donuts is Launching 2 Cereals
Spoiler: Neither are donut flavored 😞
Why You Secretly Hate Bars
Another classic from the Wait But Why archives…this one has me rethinking my social habits in life after covid
WFH Quarantine Guide
The team at Morning Brew put together an awesome guide for WFH life. Check it out if you haven’t seen it yet
Food For Thought
I’ll leave y’all with that - have a kickass week!
-Buck$
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🎧 In my headphones:
P.S.
Have any topic suggestions, questions, or constructive feedback? Reach out at pdbuck15@gmail.com, or click the button below. I’d love to hear from you!