Having studied customer behaviour for many years, we can see patterns of behaviour that emerge and which give insight into customer behaviour. When customers who can buy don’t buy, its often due to one of the following reasons:
- A real, insurmountable objection. No amount of money will make whatever the objection is change their mind so be really clear, ask them ‘what is it you would like to have happen to buy this home?’ at least know what you are dealing with and if anything can be done – if not, move on!
- Price objections when the customer can afford to buy the home are less to do with price and much more to do with how the customer perceived the value of the home you are presenting. Make sure you are constantly adding value when you provide information to your customer.
- Some people are uncomfortable decision makers – a big effect of the changing economy and market is how little customers can now trust themselves to make good buying decisions. Help the customer to make a good decision by helping them to feel more confident about their new home and their decision to buy.
- Someone else’s approval is needed. No more than ever before have there been so many people giving your customer the benefit of their opinion!! Customers are hugely influenced by their approvers – people who have emotional and financial opinions that the customer listens to and take action on the basis of what the approvers say. Help your customer to confidently articulate to their approvers why buying a home from you is exactly what they should be doing and that they are delighted to make the decision – rationally and emotionally.
- No intention of buying! Of course, there are people who never intended to buy anyway! Actually they intended to research and see if what was out there beats what they have now. Deciding to buy is based on how what you have to offer exceeds what they currently have or helps them to reduce the ‘pain’ they are currently experiencing. If what you have doesn’t exceed what they have now, the decision to do nothing is so much easier.
Understanding how to respond to these 5 reasons can help you to plan your sales approach and respond accordingly.