How to close a sale.
Why people don’t buy and how to overcome that?
There are 5 reasons why customers won’t buy and I call it MTNUT M = No money T = No time N = No need U = No urgency T = No Trust When you’re talking to a customer here is the model I want you to have in your head. They’re resistant to buying your product, the resistance is high, and they don’t want to be sold.
Our job is to lower the resistance over time, whatever time your presentation is, and somewhere there is this magical line where they cross over and they go “ah I’ll buy, you’ve convinced me, now is the time to buy”.
Now let’s look at the 5 reasons people don’t buy :
1) MONEY: There is a small percentage of people who literally don’t have the money to buy. The majority of people have the money and are willing to spend the money if you can show them the value of what you are offering. So money isn’t really an excuse.
2) TIME: Some people say they don’t have any time. Well guess what, I don’t buy into that neither. If I can show you how to save money, you will make the time to save that money. If I can show you how to make more money, you will take time to learn how to make more money. Time is not really an issue if you can prove the value. So if money is not the issue, time is not the issue, maybe it’s need?
3) NEED: Some people know they need something, some people don’t. There is something called a “trigger event”. Something happens that you realize you need to do something. So maybe the customer has a need, that’s one person, but then there are people who don’t know they need something, so our job is to make them aware that they need something. So the first question to ask ourselves is “Does the customer know that they need this product?” Some clients will say no, some clients will say yes, great. But if they say no our first job is to demonstrate why they need our product. However just because they need it, doesn’t mean they will buy it. Now that we know that they need it, they know that they need it, is it urgent? We’ve all been in this situation: I need that, but do I really need t get it NOW? Is it really that urgent?
4) URGENT: So our job now, if it’s not about the money, it’s not about the time, they know they need it, then our job is really to create a sense of urgency; why they should do it NOW. What we have to do is show them why they need to take an action NOW. In other words if they don’t take action NOW they are going to lose money. If they don’t take action now they’re not going to make as much money, if they don’t take action NOW they are going to miss out on a great opportunity.
You have to learn to position yourself in such a way that the customer feels the sense of urgency. Selling the gain VS selling the pain. You can sell the gain which is the features and benefits, but it is always good to sell the pain of not making a decision. You’ve got them to acknowledge that they need it; you moved them over to a sense of urgency, the last part is: do I TRUST you and the product you are offering to solve my problem. Can it really help me?
5) TRUST: I want you to start analyzing why they don’t buy, is it really about the money? Is it really about the time? Maybe I didn’t create the need first, or maybe if I did create the need, maybe it is that my story isn’t compelling enough to create that sense of urgency. Or maybe you did create the need, and you showed them that it was urgent, but you know what, they didn’t trust you.
or just be sexy loooooool
Then you have to ask yourself : how do I develop more credibility? How do I gain their trust? And as you begin looking at these 5 pieces of your sales presentation you begin to get a better idea of how to position yourself, and how to walk through those phases, these 5 phases of not buying.
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Be competitive with your competitors. Know their prices. It all boils down to the money “NOTHING ELSE”. It doesn’t matter if you have a little, or a lot of money. People with a lot of money are resourceful and very frugal; that’s why they have money.
MONEY is the key. You must be competitive. You might be able to convince a customer that the car you are trying to sell him has value, but if that same valuable vehicle has a lower price down the road, or the price is not in line with his research value….. he’s gone.
Time, trust, and urgency mean nothing to a customer who is already shopping for a car. The time and urgency are negated by the fact that he is shopping.
Trust has absolutely no roll… “MONEY!!” MONEY is what makes the world go round. MONEY is what the dealer/salesman is trying to get. MONEY is what the shopper is trying to save. The very word “shop” means “to look for the best deal”. The only way you can sell something for more than it’s worth, is if it’s in demand and there is a shortage. You could tell me how good your Ford focus is all day long, but if your price doesn’t meet my research, or it ‘s price is cheaper up the road, then you’ve wasted your breath.
All things being equal (price wise), the most personable salesman gets the sale. After price “PEOPLE SKILLS”.
if you do it effectively, if you know how to reduce the resistance buy showing why they need it, show them that it’s urgent, and last but not least, that you are trustworthy, you will hit that famous BUY level.