What is it that will make your prospect buy today? Why didn't he buy yesterday? Why won't he wait until tomorrow? The answer lies in their buying triggers.
But what are buying triggers and how do you create them? Before we can answer that we first must define what exactly a prospect is.
What is a Sales Prospect?
There are four common characteristics that all companies share in order to be described as a prospect:
- They must have an identified need or problem.
- They must have the desire to satisfy that need or solve that problem
- They must have the ability to pay for the solution
- They must have a sense of urgency to act upon the solution immediately.
Every prospect must have these four characteristics. If one or more of the four is missing, it must either be created by the sales process, or the prospect will not buy today. They may still buy from you, eventually, but they will not buy from you today!
What is Your Prospect’s Buying Trigger?
So what turns yesterday's 'tire kicker' into today's buyer? It’s their buying trigger.
In other words, assuming the first three characteristics of what defines a prospect are in place, the key is to engage the prospect's sense of urgency to act.
Sometimes, what makes the prospect buy today happens all on its own. A lease could expire or the existing product may be broken beyond repair. However sometimes you have to create the buying trigger to entice the customer to buy today.
Buying Triggers Example
For example, I own a laptop and I depend on it every day to make a living. The computer is several years old, so I am now starting to think that maybe I should upgrade. Since my laptop is still working, I am not going to rush out and buy a new one right away. I may start price shopping online. I may even talk to a few sales people. However chances are I am not going to buy today, as I do not perceive any immediate need.
Tomorrow may be different, however. If my laptop crashes, that would be an urgent buying trigger which would make me buy before the end of the day.
Even if my laptop doesn’t crash, I may still end up buying a new laptop right away though. I may, if I speak to the right sales rep in my “tire kicking” process that is.
How to Create Prospect Buying Triggers
That sales rep who would be the one to take the time to ask the right questions that creates a sense or urgency and creates my buying trigger.
He or she would make me realize that my old laptop didn't have a certain feature that for me, would be the greatest thing since sliced bread. He or she would explain to me how much time and money I was losing by waiting for my current laptop to crash. He or she may even give me some sort of financial incentive to act today, as opposed to waiting.
Sample Fact Find Questions to Win More Sales Faster
Why do Companies Buy?
That sales rep would always keep in mind the ultimate buying motive for any business owner like me. He or she would ask questions that build value in the fact that a new laptop now would help me and my company get to where we want to go. That being to make more profit.
Yes, that sales rep who did all that would be the one to make the sale, and they would make it today!
The Bottom Line on Why Prospects Buy Today?
Before making your next sales presentation, ask yourself, 'If I was this prospect, why would I buy today? What would be my buying triggers?'
If there is no external buying trigger that gives the prospect a sense of urgency, then take the time to create one because without it, the prospect will not buy. Not today anyway.
The more you understand your customer and their buying triggers, the more you successful you will be. To take your success to the next level though, you need to know how to create those triggers so you know exactly why your prospects will buy.
Need to know more about creating buying triggers? Want a take your discovery sales calls to a new level so you can close more sales faster? Check out our sales training webinar-on-demand, PASSTA – It’s the New Take on SPIN Selling – A way to SPICE UP your discovery calls by following an effective recipe.
Remember, as a sales manager and coach I have often said, better the fact find, happier the customer, better the paycheck!
“… what I can tell anyone, is simply this – If you want to learn and understand sales, talk to Susan.”
Do you have a question about sales? You’re not alone. Most salespeople have questions like this on how they can sell more. For the right answers, check out my book, Ask the Sales Coach-Practical Answers to the Questions Sales People Ask Most.