- Not all buyers are created equal.
We all buy for our own reasons.
So one of the biggest mistakes that we could make,
as a salesperson,
as a closer,
as an entrepreneur, is we treat them all the same way.
So, today I'm going to teach you
the four most common types of buyers, the four buyers types,
and also, how to sell them.
And how do you communicate value differently,
when you sell to different types of buyers?
The first type of buyer I want to talk about is,
Cheap Buyers.
Yup, you know the ones I'm talking about.
Comment below, if you've ever done business
with, or dealt with a Cheap Buyer.
So what do they want?
They want a good price, they buy based on price,
not so much on value.
They want a good deal, right?
They want a discount, they want,
a bundle of things
for a low price.
These are the buyers that usually they would clip coupons.
They're looking at online, they're looking for deal
of the week, deal of the day, right?
Sometimes these are the buyers who end up buying
a bunch of stuff that they don't need.
Simply because it's a good deal.
So, when you're selling to these type of buyers,
knowing that you need to structure your offer, what you do,
that seems like a good deal.
You know sometimes in retail, in the retail world,
during Christmas time, right?
They have, Boxing Day sale,
or they have a lot of these special sales
that are happening.
Well, if you know how retail works,
a lot of time before Christmas,
they actually mark up the price, right?
So let's say an item is $50, they'll mark it up as $80,
then they'll do a bigs discount,
it's like, "Oh, half off, it's only 40 bucks!"
Actually, before it was only $50,
but they mark it up so that it looks like,
"Wow, that's a very good price."
So, Cheap Buyers, they end up buying a bunch of stuff
that they may not need.
But, they like the thrill, right?
They enjoy chasing a good deal.
That's how they get their satisfactions.
So when you are communicating with them,
don't just focus on, "Hey, this is so good,"
or, "This product is far superior than everybody else."
Because if you're talking to them that way, in their minds,
"Well, then it must be overpriced,"
or "this must be expensive."
They want to know, "How is this a good deal?
"Tell me why this is a great deal".
And also, instill urgency,
why they need to get this right now, right?
You've only got so many of these left, right?
Limited quantity, right?
They are motivated by this,
so when you're dealing with cheap buyer, that's what you do.
And then you have, what I call difficult buyers, right?
Well, very easy, they are damn difficult.
It is very, very difficult to please difficult buyers.
That, those are the ones that, doesn't matter
what you do sometimes, you give them a lot of information,
but they just don't pull the trigger, they don't buy.
Doesn't matter you go the extra mile,
you visit them multiple times, they still don't buy, right?
And they're always challenging you, right?
Understand that difficult buyers, they like a good fight.
They want to fight with you, they almost like to them,
the whole buying thing, it doesn't interest them that much.
They're much more interested making your life,
like a living hell, right?
How many of you have customers like that?
Comment below, right?
You've dealt with buyers that are just extremely difficult.
They were very, very, very difficult to begin with,
even after then they become a customer,
they are still very difficult to maintain.
These the ones who are sucking up a lot of your time,
a lot of the energy, they're the energy drainers, right?
So be very, very careful.
Are you spending a lot of time dealing
with Difficult Buyers?
And then you have what I call, Sophisticated Buyers.
Now, Sophisticated Buyers,
they're very, very different.
They buy based on value, but they're also,
they're very smart, right?
They do the research, they are the type of buyers
who would do a lot of research, maybe online,
talk to different people,
before they commit to a major purchase, right?
They know what they're getting themselves into.
So when you're dealing with a Sophisticated Buyer,
what you don't want to do is, do a lot of telling.
You don't want to tell them, "Hey, you need this,
and you want this and you should get this."
No, let them come to their own conclusions.
What you could do is provide information, right?
Providing information, being as a professional, right?
Being a professional, provide information
that they need and say, "hey, okay you're looking for this",
and they love the fact that,
when you tell them what your product won't do.
Because that builds trust.
Tell them, "hey, our product's good,
but just so you know, it won't do these things".
Or even better yet,
what are some of the flaws about your product?
So, for Sophisticated Buyer,
they know, no product is perfect.
So when you tell them what your product won't do,
it builds a lot of trust.
Also tell them, "Hey, you know what,
this is little bit more expensive than what you're used to",
or, "we charge more than our competitors because of this".
Also make sure that when you're dealing
with a Sophisticated Buyer, you stay away
from the typical sales tactics, where you're very pushy,
you're pushing them to buy, they do not like that.
You need to give them some space,
you need to give them some room,
so that they can make decisions on their own.
Does that make sense?
And then you have, what I call, Affluent Buyers.
Now, Affluent Buyers, they rarely buy based on functions.
They are wealthy and they have the financial resources,
to buy almost whatever they want.
Now, when you are dealing with Affluent Buyers,
let me give you a perfect example, they buy feelings,
emotions, they also buy convenience.
Chances are, with an Affluent Buyer, you need to think
about how you can make his or her life a little bit easier.
So example, I buy suits from Harry Rosen, so the,
Sales Rep, that works with me, that he does a lot of things
that goes extra mile, that helps me save time.
So example, when I go in there, he already,
has a lot of the items that he has select ahead of time.
So, I go in, I don't need to waste time
to browse through the entire store.
He already knows what are some of my preferences.
So when I choose, a lot of things, okay great.
We measure, he has my measurement, I want these shirts,
all that, it's done, and when it's done I pay.
Here's my credit card on file
and sometimes he would just use my credit card,
with my permission and then he would delivers
with the suits, the shirts, whatever I need,
to the concierge.
So I don't even need to go to the store.
Now, that is going the extra mile,
that is selling convenience.
Affluent Buyers, they hate inconvenience, right?
They want luxury, they want status,
sometimes they buy things because of status, right?
No one needs a $300 umbrella.
If you watch my videos on there, the Pasotti umbrella.
You don't need a $300, no one needs an umbrella.
An umbrella's function
is to make sure you don't get wet, right?
But you're buying it for other reasons.
I'm buying it for other reasons, because I like it,
I like the look and feel, I like the quality.
No, but the quality, is it 10 times better
than a $30 umbrella?
Probably not, right?
So understand what motivates a Cheap Buyer,
does not motivate an Affluent Buyer.
When you're sitting down across the table, face to face,
belly to belly, you're talking to an Affluent Buyer,
and you tell that buyer,
"Hey, this is a very good deal, this is very cheap,
you're going to save a whole bunch of money",
it's an instant turn off.
I don't want something cheap, I want the best, right?
It's very different.
You want a good deal or you want the best?
I want the best.
In fact, sometimes when you are talking
to an Affluent Buyer, you want to communicate,
(gasps) "This is expensive, this is not for everyone, right?
And most people probably would not appreciate the beauty
of this, but maybe you will".
And then from the affluent buyer's perspective,
it's like, "Yeah, of course, I will, right?
I get it, I can see things that other people cannot see".
So, when you're talking to them,
understand that it's a very,
very different value proposition.
So, let's recap, we have Cheap Buyers,
we have Difficult Buyers, we have Sophisticated Buyers,
and we have Affluent Buyers.
One of the most important decisions you have to make
in business is, what type of buyers you want.
No one points a gun to your head and say,
"hey, you gotta take my money."
You choose what kind of buyers you want for your business.
If right now you have a lot of Cheap Buyers,
who picked those clients?
Who accepted those clients?
Who chose to work with these clients?
You did, if you have a lot of difficult clients,
it is the same thing, you chose to do business
with those type of clients.
So, you have to think, why don't we do business
with people who appreciate what we do?
Who understand what we do?
Who are willing to pay for our expertise, our skills,
our product and services.
They would cherish it, and guess what?
The Sophisticated Buyers, the Affluent Buyers,
guess who their friends are?
Same thing, chances are the Affluent Buyers,
they won't hang out with Cheap Buyers.
Their circle of influence,
the referrals you're going to get,
would be similar buyer types.
Does that make sense?
I have written a special article that I go much more
in depth about, some of the old, in fact,
eight old sales methods, I believe are out of date,
that actually turning off today's cautious buyers.
Click link here and read that article,
I think you'll find that very,
very beneficial to what you do.
Doesn't matter if you're selling, doesn't matter
if you're selling your own product and services,
or selling other people's products and services.
So, click link, enjoy.