Customers do not buy a product or service for any one of the following reasons:
a) He likes the product / service
b) He needs the product / service
c) He desires the product/service
d) He wants the product/service
e) He loves the product/service
Customer buy’s a product or service to mitigate a risk.
If this is true, it is important for a salesperson to understand the risk which they need to mitigate rather than the price (or discount) that they can offer for the product.
Let me give you some examples of risk which a product or service mitigates
S.No. Risk Mitigation
1 Risk of missing out on lifestyle status Customer buys an Apple iphone
2 Risk of running into high electricity bills Customer buys new Transformer
3 Risk of high petrol bills Customer buys diesel car
4 Risk of missing on e-leads Customer does a SEO on website
5 Risk of incomplete market coverage Customer recruits salespersons
If you also feel that customer buys a product or service to mitigate a risk, spend some time in understanding the “Risk” which the customer is trying to mitigate and concentrate your sales pitch on the same rather than on your offerings.
You can contact us at Strategic Concepts (I) Pvt Ltd, Nagpur ( URL: http://www.scipl.info) for more details on this.