Tap into the top seven reasons why customers buy from you
We all need sales and the easier and quicker these sales are acquired the better. To be successful in business, you simply need to tap into WHY customers would buy from you and then direct your marketing activity accordingly.
It is best to look at the buying decisions from the point of view of your customers. They will buy for one of seven reasons as follows:
1. Your business can solve a problem or satisfy a need.
There is a famous story of a restaurateur that was asked if he could have anything at all to help increase his business profits, what would it be? His answer was… a starving crowd. This highlights a really important aspect of doing business. You must provide products and services that your customers and prospects are eager to consume. You could be the best supplier in your region, but it won’t make you successful if there is no demand.
2. Customers need to like, know and trust you.
Reputation is everything. The internet and particularly, social media, make it hard for you to hide from a serious mistake or from letting someone down. We all buy from those we like, know and trust so it is important that you are authentic and good at what you do but also act ethically and are friendly to your customers.
3. They buy because they’ve brought from a specific supplier before.
Loyalty is not dead in business but it is harder to earn. The stronger the relationship you have with your customers, clients, patients and members, then the more likely it is that you will receive repeat business and referrals. Relationships develop over time. Therefore, thank your customers at every opportunity. Communicate regularly. Market effectively to them and when appropriate, offer something that is new. Do not neglect your customers as it seven times easier to sell to existing customers than to someone new.
Did you know that 82% of consumers buy more from companies whose loyalty program they are a member of, and 55% will choose a product/company with a loyalty program over one without?* bucqi is a brand new way for Bartercard members to reward their consumers using trade dollars and attract new, cash paying customers. It’s a complimentary add-on to your Bartercard membership – visit www.bucqi.com.
Source: For Love or Money – 2013 Consumer Study into Australian Loyalty Programs
4. They are referred to suppliers by a trusted family member, friend or business associate.
There are many businesses that rely solely on referrals and word of mouth marketing for their growth, known as organically growing. Networking groups and platforms such as Bartercard or BNI are a good source of referrals.
5. They are members of clubs and associations.
If you are a member of a club or association, it is quite easy to sell to other members as there is a sense of belonging created by the membership. One organisation that has really taken advantage of memberships is Costco. Customers actually pay for the privilege of buying from Costco, and receive exclusive specials in return.
Bartercard is a business marketplace where members exchange goods and services without the use of cash to not only improve their cash flow, but build business contacts to grow their network, collaborate and create partnerships to leverage market reach, attract new customers and gain referrals. Being part of the same network creates a sense of commonality and forms the basis of new business relationships.
6. Customers need a reason to buy which is usually influenced by:
7. Customers need incentives to buy, which could include:
b) premiums or gifts or bonuses
c) new products and services
d) help others
Want to learn more about referrals and how to fast track new business? Download Bartercard’s free eBook, Why every business should have a customer referrals program.
Source: Keep your customers for life, Issue 71, 2015
Author: Ian Renton
Australian Christmas Cards
Phone: 1800 226 202 or 02 9631 3366
Ian Renton is the owner of four businesses, Australian Credit Stationers, Australian Christmas Cards, Renton's Labels and Renton's Printing. His businesses provide account stickers, Christmas stickers, corporate Christmas cards and e-cards, corporate birthday cards, thank you cards, calendars, fridge magnets, custom labels and general printing to thousands of businesses in Australia and New Zealand.