Finding a Buyers True Motivation

By: Ben Needles

In my experience, there are usually two types of prospects we deal with on a regular basis: the ones who buy on relationship and the others who buy on price alone. Unfortunately, we waste valuable amounts of time, energy and finances on prospects because we dont understand their true motivation in doing business. If it is price alone, Im thinking, Houston, we have a problem! Heres one way to find out a prospects true motivation and some options, once you know.

The first key to understanding a prospects true motivation for buying is to build a sincere rapport with him. Test the individual by being friendly and asking questions about him and his business. See if there is a natural affinity, between you both. Natural affinities are commonalities we share like common backgrounds; examples might include where you live, having children or what college you attended. Your job is to find these commonalities early on in the selling process. Chances are if the person wants to only talk business or price right away, you have found the wrong prospect (unless you are the low-cost provider).

Another key to determining whether a prospect is a price-motivated buyer is through asking strategic, probing questions. If you did a good job building rapport, spend a few minutes asking him about his experiences with prior vendors. Does he focus on price, service or quality? If its price, then find out why it is so important to him? Is the product or service seen only as a commodity or a valuable and necessary asset? Did this individual get burned in the past being overcharged? Information is power here. Without asking the right questions, you will most likely drop your price to obtain the client.

Once youve determined the buyers motivation is price alone, you have two options. One is to walk away quickly! If he nickel and dimes you in the beginning, he will always be that client you loathe. Furthermore, be prepared that he will leave you as soon as someone less expensive comes around.

Option two with our price shopper is more difficult and time consuming, but not without rewards. In addition to building rapport and asking significant background questions, one must keep control of the appointment. You need to be in a position of strength by asking great questions and exuding confidence in your ability to solve the individuals problems. Really focus your attention away from price, and concentrate on how your solution will provide value for the prospect or alleviate the problems they have encountered in the past.

The options here provide a few wonderful solutions for our businesses. We increase profit margins while selling through relationships, not price. Lets not forget the added benefit of repeat and referral business that should always accompany a strong relationship. We can also take on less difficult clients who we know will only be trouble and time-wasters for our businesses in the future.

In my experience, there are usually two types of prospects we deal with on a unconstipated basis: the ones who buy on relationship and the others who buy on price alone. Unfortunately, we waste valuable amounts of time, energy and finances on prospects because we dont understand their true motivation in doing business. If it is price alone, Im thinking, Houston, we have a problem! Heres one way to find out a prospects true motivation and some options, once you know.

The first key to apprehension a prospects true motivation for buying is to build a sincere rapport with him. Test the individual by being friendly and asking questions about him and his business. See if there is a natural affinity, between you both. Natural affinities are commonalities we share like coarse backgrounds; examples might include where you live, having children or what college you attended. Your job is to find these commonalities early on in the selling process. Chances are if the person wants to only talk business or price right away, you have found the wrong vista (unless you are the low-priced provider).

Another key to determining whether a outlook is a price-motivated buyer is through asking strategic, inquisitory questions. If you did a good job building rapport, spend a few minutes asking him about his experiences with prior vendors. Does he focus on price, serving or quality? If its price, then find out why it is so important to him? Is the product or service seen only as a goods or a valuable and necessary asset? Did this individual get burned in the past being overcharged? Information is power here. Without asking the right questions, you will most likely drop your price to obtain the client.

Once youve determined the buyers motivation is price alone, you have two options. One is to walk away quickly! If he nickel and dimes you in the beginning, he will always be that node you loathe. Furthermore, be prepared that he will leave you as soon as person less expensive comes around.

Option two with our price shopper is more difficult and time consuming, but not without rewards. In gain to building rapport and asking substantial background questions, one must keep control of the appointment. You need to be in a military position of strength by asking great questions and exuding confidence in your ability to solve the individuals problems. Really focus your attention away from price, and concentrate on how your solution will cater value for the prospect or alleviate the problems they have encountered in the past.

The options here provide a few wonderful solutions for our businesses. We increase profit margins while merchandising through relationships, not price. Lets not block the added gain of repeat and referral business that should always accompany a hard relationship. We can also take on less hard clients who we know will only be trouble and time-wasters for our businesses in the future.

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