Message from Tom Borg

How to Sell What Your Prospects Want to Buy

The market place has changed. Your prospects are more educated and getting more savvy all the time.  Research is showing that before they buy what they want to buy, 75 to 85% of the population is going to the internet to check you and your competitors out,  before making a decision to purchase. With the use of Google , Yahoo and other search engines, it is easier than ever for your prospects to  research the market place where they want to spend their hard earned money. Let’s face it: You and I are doing the very same thing.
 
The key phrase in the above paragraph is “before they buy what they want to buy.” Not what you want to sell. Your clients and prospects don’t want to buy what you are selling. They want to purchase what they want to buy. Too often today, small business owners and their sales people try to sell something their prospects don’t really want. Rather than asking their prospects and clients what their real needs and wants are, small business owners simply try to give their “pitch” through costly advertising or sales calls, hoping if they throw enough “wet toilet paper against the wall” that some of it will stick. Unfortunately this approach is not very productive. As a matter of fact, it is draining your small business of its’ cash reserves.
 
Many small business owners make the mistake of advertising “what they want to sell” to the universe. In other words, they advertise to the general public. An example of this is the envelopes you receive in the mail that are stuffed with different coupons from businesses hoping to entice you to try their product or service.  If you have used this type of advertising as part of your marketing strategy, it can be very disappointing. Your return on investment is usually quite similar to taking a $100 bill and flushing it down the toilet. Once you pull the lever, it’s gone. No real hope for any significant return on your investment.
 
According to Jay Conrad Levinson, the formula for spending your advertising dollar should be as follows:
10% to the universe
30% to a qualified prospect list
60% to your present client base
 
Remember, it is 6-10 times easier to resell to your present client base and their friends than it is to people who have never purchased from you before. With all of that said, let’s go back to our discussion of focusing on letting your clients and prospects purchase what they want to buy from you.
 
Precisely what do your prospective clients most want to buy? As Nido Qubein suggests, “Sometimes there is a big difference between what you want to sell and what your clients want to buy. For example, IBM was in the business of selling office machines, or so they thought. What they found out was their customers wanted to learn how to handle all of their information.” So what IBM did, was to start selling business solutions that allowed their clients to handle information more effectively and easily. My point is, find out what your prospects and clients want done and structure your marketing and advertising in such a way that convinces them you can do it.

Once you have done that, you will be well on your way to helping your clients buy your solutions to their needs and wants. If you would like more information on how I can help your small business learn how to do this, please call my office at 734-404-5909 and we can discuss this matter further.

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