Sales Training: Knowing Your Buyer – An accompaniment to a free download

Well, the family is off in Hawaii visiting my mother in law. I feel obligated to pay my readers back for the neglect of the last week. Therefore, this post couples a training document I am now giving away to everyone on and everyone that joins my blog e-mail list! Just sign up in the upper right corner and I will send you the link to download starting 2/10/2008. The slides are yours to use for study or with your teams.

One thing that is consistent with being exceptionally talented at moving the right deals through the right phases of the sale is “knowing your buyer”. Knowing your buyer starts with understanding what you are offering and who is ready to buy it. Then it is imperative to know exactly what type of person you are working with and how to communicate with them.

I have broken this post down into sections that parallel the slides in the training.

Reasons people do not buy:

• A lack of trust in the salesperson – With habits like “How are you today”, and “Just checking in/following up”, sales people tend to get pigeon-holed as, well sales people. When you build a relationship, speak as if you are speaking to your friends and family, not a prospect (See trainings 1-5).

• They do not feel comfortable with the salesperson – Another common habit is to pitch then pull the prospect of the finish line. Comfort comes from getting to feel like you are being heard. So LISTEN TO YOUR BUYERS!

• They are asked to buy something they do not need or want – Another symptom of the pitch and pull. If you listen early you can let them go.

• They feel they are being pressured – Build a relationship based on mutual trust and you will get sales when buyers understand your offering and how it benefits them. More sales are lost by sales reps that actually have the right product but bullied instead of educating.

• The salesperson has not addressed their skepticism – Early on in the sales process it is beneficial to educate yourself on the type of buyer you are working with. Learn who they are then let them get to know you. This will afford you the ability to alleviate doubt.

Next I want to run you through the types of buyers by stage and personality. Stage means when they are ready to buy something. That friend of yours who always has a gadget before it is on the market, he is the innovator. He tends to buy things that break and no-one follows his lead.

When that gadget is de-bugged and you have a co-worker who tells all of her friends about her latest discovery, she is the early adopter. Next week the rest of the office has one (the majority), except the one guy who will not buy it until he is absolutely the last person to own it (Laggard).

The five types of buyers by product stage:

Innovators

• The smallest group of early buyers.
• The “techies” of the marketplace; willing to experiment with anything new.
• They have a high degree of self-confidence and are turned on by new widgets representing the latest technology.
• They may influence other buyers in their same group, but their purchases do not lead to a widespread trend.
• Less than 2% of the marketplace.

Early adopters

• The true opinion leaders who set examples by their decisions.
• Respected agents of change. They try a new product if it will improve their lifestyle or business.
• They need to understand the benefits and will seek out references from other satisfied users before making a purchase.
• Around 15% of the marketplace.

Early majority

• This group is slower to try new products, entering into the market only after their peers have actively embraced the product.
• They are far more pragmatic and less technology-driven than the previous groups.
• They are looking for modest productivity improvement, and they care about the longevity and reputation of the company providing the product.
• 35-40% of the marketplace

Late majority

• This group is slower to try new products, entering into the market only after their peers have actively embraced the product.
• They are far more pragmatic and less technology-driven than the previous groups.
• They are looking for modest productivity improvement, and they care about the longevity and reputation of the company providing the product.
• 35-40% of the marketplace

Excessive traditionalists

• They wait until price has bottomed out, competition is intense, and the product has become an absolute need.
• They tend to purchase products the other groups would consider obsolete.
• If they are in the approval cycle for new products in a business, they will try to block the purchase of products the other groups might buy.
• Luckily, they represent only 5% percent of any market

The stage your product is in should align with who you are selling it to. Laggards will not be part of your first 10% of customers, and innovators will have moved on by the time the majority has embraced your solution.

Then there are the four types of buyers by personality; understanding these character dynamics are critical developing value propositions that sing the song that sells:

Dynamic– Driven and Ambitious

• Highly driven or ambitious people tend to run large companies
• They avoid people as ambitious as they are. You rarely find more than one at the top of a company.
• They are insecure and have a profound need for others to view them as important.
• You must treat them with respect, speak quickly and to the point, and show them how to increase their effectiveness and bottom line.

Dynamic– Friendly and Influential

• Those that are predominantly influencing or friendly have a profound need to be accepted and approved.
• They are enthusiastic, upbeat, and eager to please.
  They want to know that our services will make them look better to their colleagues and the world.
• They do things to enhance their image as an up-to-date leader. An emotional buyer!
• They want to know the relationship you have with them is more important to you than the sale.

Discerning – Steadfast and loyal

• Calm and soft spoken, particular in their relationships.
• Shy away from aggressiveness.
• Tend to develop trust slowly, but it has a lasting effect.
• Avoid conflict and rarely share objections without solicitation.
• Do not enjoy the natural course of the buying process.
• Make up over 40% of the purchasing population.

Discerning – Conscientious

• The analytical buyer, most common in the corporate work environment.
• Forthcoming with objections and tend to compare products.
• Will spend time in each stage of a sale, focusing on due diligence.
• The most analytical of buyers.
• About 25-30% of the marketplace.

So, it is important to take time to understand the buyer. Learn their particular individual traits and you can learn how to read between the lines. Much is said with demeanor and presence that is never said with words.

} Take their tones of communication and study to gauge your opportunity
} Study and repeat common phrasing
} Speak to what they think is important
} Ask questions to which they have already hinted at the answer
} Reveal what is needed to achieve goals

Do some Role Playing with a friend, your team, or a co-worker. Try different scenarios and have some fun with it! It will only improve your sales.

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