Why people buy from you
It's a great time of year because through this research we are exposed to other companies successes and at times failures - all while thinking about what more we can do for our clients.
One of the big issues that small businesses face is their understanding of how sales and marketing works together. Quite often, small businesses invest in one and not so heavily in the other, only to find that their sales pipeline isn't full and budgets are not being met.
Without being critical of small business owners who have their fair share of things to worry about: think people, finance, hr, sales, marketing, product / service development - sales and marketing is something that every small business owner understands the importance of, but has trouble executing.
Re-thinking how your client makes decisions on whether or not to buy your product or service is imperative to understanding how to market to them and ultimately, how to get the sale. We know that the reason someone buys at all in a b2b environment is to either make money, save money or reduce pain and frustration.
There are many things to consider when doing research into why your client buys from you over a competitor and it is more than just reputation or the benefits that your product or service offers.
The reasons why small businesses buy are simple. (B2B)1. Price: They usually have a budget, but don't know what it is exactly, and need you to sell to them value that is backed by a competitive price point.
2. Packaging: That means your website, your business card, how you present yourself, the experience they have at reception, your brochure and more.
3. Service: Do you make them feel special from the moment they click onto your website to the time that they come into your office and ask you the hairy questions? Do you make them feel special?
4. Payment: It's true. Most people make choices on their buying decisions based on what payment plans are on option.
5. Reputation or perceived reputation.
From there, it gets down to what type of product or service you have on offer and whether or not it has perceived value, quality and use.
It's important for all businesses to ask their clients why they have bought from them and use this for both testimonials and for improving service and product delivery.
In a business to business environment, reputation supercedes most influencers and through a strong word-of-mouth referral backed by a quality sales presentation and a competitive price structure - most businesses will find a winning formula.
Ask yourself, "why do businesses buy from you?"
From this feedback, how can you get more clients and improve your sales delivery? Atlanta has had a tough few years, yet there are businesses that are flourishing. Ones that stand out of the crowd and invest in strategic marketing and sales initiatives boom in a economic downturn. Improving business processes and leveraging the strengths of your business will ensure that your business continues to grow and expand. But understanding your client and what motivates them to buy, is the only way to ensure that your marketing is effective and the investment you place in marketing is used wisely.