Why Some Customers Buy…Why Others Don’t…And Why You Need To Understand This
Businesses succeed when they have a source of good customers. In an increasingly complex digital world, it’s easy to get lost. Let’s take it back to basics.
Have you ever been bewildered after a “sure sale”fell through?
Perhaps you’ve wondered why customers have backed away at the last minute — despite seeming excited about your product or service?
And maybe you’re wondering just how many potential sales you’ve lost… and how much it’s costing your business in lost profits. You’re not alone.
Despite the fact that people are messy, emotional beings, we’re also quite predictable.
Your buyers — at least if they’re human — are also fairly predictable.
We follow a set of rules and conventions, and we need certain things to happen before we’ll part with our money. Understanding the psychology behind buyer behaviour is crucial if you want to create a steady source of good customers.
You can do that by identifying your target customer, understanding how they buy — and mapping the buying process, then refining that process to make as many sales as possible (and create an after-sales process that keeps the revenue flowing).
You might have heard this called a “sales pipeline” or “sales and marketing funnel”.
Well that funnel can be mapped out into what we call your customer journey, and to understand it, you need to understand what’s going on in buyers’ minds. What makes them tick.
Do you know what’s going on in your customers’ heads as they make up their minds about what to buy?
Do you have the customer journey all mapped out — and does it work for your ideal customers?
None of this is complicated or difficult to understand…but it does require work. It’s all about putting a robust business system in place to do it.
Most businesses will not do this, which is one big reason why most businesses struggle.
If you want to stop focusing frantically on bringing in new leads and wondering why they’re not converting, and instead create a reliable stream of high-quality paying customers, you’re in the right place.
Sales is a process, not an event
You can’t just make contact with a potential customer once, and expect them to buy immediately. They want you to follow a certain pathway and answer all their questions — especially if what you’re selling requires a big investment.
What worked in the past simply doesn’t work as well anymore.
The rules of buying and selling have changed.
As Tim Hughes said in Social Selling, the way we sell today is a reaction to a change in how people buy — not the other way around.
Buyers are much less reliant on the marketing and advertising we put out there. They’re less inclined to trust businesses. And they’re looking for something more than a simple financial transaction.
Understanding the psychology behind why people buy (and why they don’t) is crucial to growing your business.
Tactics change…effective business strategy doesn’t
The marketing and business strategies that bring in a steady stream of customers and make businesses a lot of money are fundamental and haven’t changed much over the years.
If you don’t get the basics right, digital technology won’t be able to help you. If you do get the basics right, though, digital technology can skyrocket you from adequate to outstanding.
Performance sales and marketing in the new digital world will change the way you look at selling. It’s the only approach that’ll let you measure how much return it’s bringing on your investment.
And using the new tools, it’s the only kind of marketing that’ll let you put sophisticated sales processes in place with little ongoing effort on your part.
The 3 Stages You Can’t Ignore
There are three essential stages in the purchase process when it comes to finding (and keeping) new customers. Miss out or not understand any one of them, and you’ll lose sales.
Miss out the first one, and nothing else you do will make any difference at all.
That first crucial element is:
If we want to win new customers, first we have to make sure they are aware that we exist. That seems obvious. But if we’re going to keepthose customers, there’s more to it.
Awareness. Perception. Experience.
In that order.
If we want to convince someone to buy from us, we must understand and align our business to this process. This is after all how people buy and it is what we should embrace. We have to grab the prospective customer’s attention and keep their interest. Awaken their desire, not in our product but in what our product does for them. And finally, we need to ask for action. Because if we don’t ask, we don’t get. Now we ask in a way that is non-threatening. Usually in the form of helping or in how we design our webpages, how we follow-up with leads. Basically designing a business system around how our customers buy.
This is the customer journey — and it’s the most crucial part of doing business, regardless of what tools you’re using.
To follow this process effectively, we need to understand who our target customers are, why they buy, and howthey buy from us.
Consider these questions:
Who is your ideal customer?
How do you get their attention?
How long does it take your customers to decide to buy from you after they’ve become aware of who you are?
Do you understand what their objections to buying from you might be?
How can you make sure they choose you, and not one of your competitors?
Do you actually ask for action?
And how long does it take for your customers to get from A to Z in your business?
Without a deep understanding of this customer journey, you’re going to struggle to create processes that make it easy for people to buy from you.
If there are gaps in your understanding, don’t worry — that’s why you’re reading this. That’s what we do.
We work with businesses just like yours to help them discover where they are now, where customers are leaking out of the gaps in their systems, and exactly what they need to do to improve.
Are You Ready To Plug Your Business Leaks?
We use a range of tools to help businesses grow — but until you know where you are now, there’s little you can do to improve.
The best place to start is with our free email series.
Enter your name and email address below, and you’ll get a series of 20 emails explaining exactly what the customer journey is, how and why customers buy (and don’t buy), and what you can do to improve your ongoing sales.
When you hit the button, you’ll get an email asking you to confirm. Follow the instructions in that email, and you’ll get the first in the free series. If you are in a hurry that is fine too, just follow the process and reply to the first email that you have an urgent need and we will get to work on helping you.
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The book looks at the use of digital along the Customer Journey. The focus is on implementation and experience across many industries. Why not get involved by being a contributor or reviewer?
What Others Say
“In the field of strategy, implementation is the difference between success and failure. Digital Scorecard is a real practical help in implementing efficient processes for lead generation, sales and after market for any company. Companies with limited experience in digital solutions and options within these processes have the most to gain. However even those that are experienced will find the targets challenging and a good means for reviewing their digital strategy. Digital Scorecard is surprisingly straight forward to understand and use. It can be used for analysis as well as concrete improvements. I recommend Digital Scorecard since it is both theoretically sound and practically useful.”
Prof. Carl-Henric Nilsson,
Lund University, Sweden.