How To Close A Sale - 5 Reasons People Don't Buy

Summary

In this video, the speaker highlights the five key reasons why people don’t buy: no need, no urgency, no desire, no money, and no trust. The speaker explains that when there is no perceived need for a product, lack of urgency to act, insufficient desire, a lack of perceived value, or distrust, prospects will not make a purchase. By addressing these issues, such as creating compelling offers, establishing trust, and demonstrating value, sellers can improve their chances of closing a deal. Ultimately, understanding these reasons can help businesses tailor their approach to close sales successfully.

Takeaways

• 😀 No need = No sale: If the prospect doesn't feel they need or want your product, they won't buy, no matter how great your offer is.
• 😀 Urgency is key: If there's no urgency, the sale will likely never close. You must give prospects a reason to act now, like a limited-time offer.
• 😀 Desire drives decisions: People buy what they want, not what they need. Create irresistible offers to tap into existing desires and make them feel they need your product.
• 😀 Value vs. Money: If prospects don't see the value in your product for the price, they'll refuse to buy. Clearly demonstrate the value to increase desire.
• 😀 No trust = No sale: Trust is essential. If prospects don't trust your brand, product, or themselves, they won’t buy.
• 😀 Social proof builds trust: Use testimonials, case studies, and data to reassure prospects about the reliability and effectiveness of your product or service.
• 😀 Address self-doubt: Sometimes, prospects don’t trust themselves to follow through with their purchase, especially when they've failed with similar products before.
• 😀 Timing is everything: Demonstrating a sense of urgency can prompt prospects to make a decision right away rather than postponing indefinitely.
• 😀 Qualify leads quickly: Don't waste time on prospects who clearly have no need or money for your product. Disqualify them swiftly and move on.
• 😀 Clear communication of value: Articulate your product’s benefits in a way that makes it clear why it’s worth the price and why they need it right now.
• 😀 Overcome objections in marketing: When closing a sale, handle objections by addressing all five key reasons people don’t buy (need, urgency, desire, money, and trust).

Q & A

What are the five main reasons people don't buy, as explained in the script?

The five main reasons people don't buy are: no need or low need, no urgency, no desire, no money, and no trust.

Why is it important to identify if a prospect has a need for your product or service?

It’s important because if the prospect doesn’t need your product or service, no amount of convincing will make them buy. If they don’t see a need, it’s better to disqualify them and move on.

How can salespeople create urgency in a sale?

Salespeople can create urgency by offering limited-time offers, highlighting limited quantity, or showing why acting now is beneficial to the prospect.

What’s the difference between need and desire in the context of sales?

Need refers to a necessity, while desire is driven by want. People typically don’t buy what they need, they buy what they want. Creating desire for a product can drive sales.

What role does creating an irresistible offer play in sales?

Creating an irresistible offer helps tap into the prospect’s existing desires, making the product or service compelling and difficult to resist.

How should a salesperson address the issue of money in sales?

If a prospect says they don’t have money, it often means they don’t perceive enough value in the offer. The salesperson should highlight the value and benefits of the product to justify the cost.

How can social proof help overcome trust issues in sales?

Social proof, such as testimonials or case studies, can build trust by showing that other customers have had positive experiences with the product or service.

Why is it important for prospects to trust themselves in addition to trusting the seller?

Prospects may trust the seller and the product but still doubt their ability to use the product effectively. Addressing this self-doubt can help close the sale.

What does the script suggest about following up with prospects who express interest but don’t act immediately?

The script warns that delays kill the sale. If a prospect says they will think about it or follow up later, they’re likely to not act at all. A salesperson should push for immediate action or risk losing the sale.

What is the relationship between value and money in the context of sales?

The prospect compares the value of the product to its cost. If the perceived value outweighs the cost, they are more likely to make the purchase. It’s important to communicate the product’s value effectively.