{"id":22,"date":"2017-03-17T08:00:53","date_gmt":"2017-03-16T22:00:53","guid":{"rendered":"http:\/\/magazine.riskinfo.com.au\/29\/?p=22"},"modified":"2017-03-22T03:05:05","modified_gmt":"2017-03-21T17:05:05","slug":"why-dont-people-buy","status":"publish","type":"post","link":"http:\/\/magazine.riskinfo.com.au\/29\/why-dont-people-buy\/","title":{"rendered":"Why Don\u2019t People Buy?"},"content":{"rendered":"
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People make decisions every day about whether or not they will make a purchase and have valid reasons for rejecting a pitch, even when it is their best interest.
\nThe same applies to life insurance and in this article KnowledgeMaster\u2019s Jim Prigg outlines some of the key reasons people are reluctant to buy and ways to respond to that, but also encourages advisers to remember that they too can walk away from a sale when necessary.<\/h3>\n<\/div>\n

People make decisions every day about whether or not they will make a purchase and have valid reasons for rejecting a pitch, even when it is their best interest.<\/p>\n

The same applies to life insurance and in this article KnowledgeMaster\u2019s Jim Prigg outlines some of the key reasons people are reluctant to buy and ways to respond to that, but also encourages advisers to remember that they too can walk away from a sale when necessary.<\/p>\n

When you are approaching new clients or potential new clients it is important you not only understand why people should buy your services and ideas, but be very aware of the reasons why people don\u2019t buy or respond positively to your offers. Successful sales are important, but understanding why people don\u2019t or will not buy is also critical to your success.<\/p>\n

This is not a condemnation of the products you offer, or your services, ideas or commitment to excellence. Rather there are other factors that can influence the outcome of even the best life insurance sales pitch and the adviser giving that pitch.<\/p>\n

No trust<\/h3>\n

If people don\u2019t trust an adviser, their advertising or the insurance they provide to deliver value then they will not buy. You have to give them a reason to trust you that can be supported by evidence or samples. Many businesses create a benefits and advantages sheet to inform people what they are missing out on.<\/p>\n

No (perceived) need<\/h3>\n

Two things need to be addressed here. A switched on adviser will help people discover their need with good questions that invite interaction. Then they will deliver a benefit that goes with that need so there is an advantage in considering the offer.<\/p>\n

If you want to sell the concept, need and solution that is life insurance then you have to accept ownership or show others who have bought it to be in love with it, just like you are!<\/p><\/blockquote>\n

No help<\/h3>\n

Either the adviser does not help prospects to understand their need or there is no attempt to help them by trying to educate them with visuals, demonstrations, case studies or other incentives or initiatives to act on the advice now.<\/p>\n

No belief by the adviser<\/h3>\n

Self belief is an incredible motivator for adviser and those who do not believe in their products or service offering do not last. You cannot indefinitely fake it to make it! If you want to sell the concept, need and solution that is life insurance then you have to accept ownership or show others who have bought it to be in love with it, just like you are!<\/p>\n

No belief by the prospect<\/h3>\n

Sometime because of pre-conditioning, prejudices, bad experiences, ignorance or laziness, prospects don\u2019t believe or don\u2019t want to believe in the value of the product or service. That\u2019s where good questions can smoke out commitment answers that give you powerful collateral in the buying process. Ask, \u201cWhat would they like to see?\u201d Ask the question, \u201cJust imagine you could have the best cover, what characteristics would you want in it? Then add after they have answered you, \u201cIf I can deliver that for you would you consider purchasing it?\u201d<\/p>\n

No hurry<\/h3>\n

If they are not ready or can\u2019t be convinced to buy then, \u2018No hurry\u2019 is a valid reason. Need or the need to act are very powerful motivators in the purchasing process. Find out when the NO runs out! Is it tomorrow, next week before the end of June, before Christmas, after the school holidays or when the new budget is announced.<\/p>\n

No satisfaction, happiness, prestige or excitement in ownership<\/h3>\n

If there is no satisfaction, happiness, prestige or excitement in owning or exchanging money for the product and service you offer as an adviser then people will not buy it. Give them reasons of pride, “first user” status, “aren’t I clever” acknowledgement or let them know they are doing the right thing for them, their family or their company.<\/p>\n

No recognition<\/h3>\n

Sometimes people want to be recognised as being clever for making the right decision at the right time \u2013 NOW. Acknowledge and recognize their decision to own your services and products and for making that decision to buy them quickly. Use phrases like: \u201cYou obviously know what you want\u201d \u201cYou make decisions quickly don\u2019t you?\u201d or \u201cThanks for putting me on the spot with your offer\u201d.<\/p>\n

No joy or pride<\/h3>\n

If the ownership of what you are selling gives you no joy or pride then it is hard to sell the benefits to others. People like to be able to justify their purchases to others. Give them reasons to have joy and pride. These can be family, friends, neighbours, work associates. managers or even just to show it off to complete strangers.<\/p>\n

Some prospects are eternally cynical about any offer or product. Yet they do buy. So let them think they are in control<\/p><\/blockquote>\n

No money<\/h3>\n

If you want something but don\u2019t have the money or the desire to find\/save the money, then all the wishes in the world cannot convert desire into action.<\/p>\n

The eternal cynic<\/h3>\n

Some prospects are eternally cynical about any offer or product. Yet they do buy. So let them think they are in control. If there is no urgency to act now, ask them what time frame they would be willing to consider your offer or if a special situation arose would they like to be contacted then? Get their permission to do this and follow up with a confirmation letter, email or gift.<\/p>\n

You have just caught them at a bad time!<\/h3>\n

Sometimes people are just not in the right frame of mind to buy. This can be because of health, family or financial reasons. It can also be caused by niggling events like arguments with partners, business associates or children, fear of the known and unknown, just having a \u201cbad hair day\u201d, moving house, changing jobs or even hangovers.<\/p>\n

No moral responsibility<\/h3>\n

Some people are morally irresponsible. They just do not do the right or expected thing by themself, their family or their community. Learn to quickly disengage from them.<\/p>\n

Which ones of these have you encountered?
\nWhich ones are you aware of?
\nWhich ones can you lessen the effective of?
\nWhich ones can you improve your responses to when they arise?<\/p>\n

\"\"<\/p>\n

This article is reprinted with permission from Jim Prigg CEO and founder of Knowledgemaster Pty Ltd. Knowledgemaster is an online resources company that delivers practical communications, interaction, sales and soft skills tips, tactics, techniques. Learn more about winning business programs and courses by contacting Jim.<\/p>\n

Contact Jim Prigg to learn more about winning business programs and courses.<\/p>\n

Contact or follow the author:<\/strong> Website<\/a> | Email<\/a> | Telephone: 03 5232 1500, 0408 520 453<\/p>\n<\/div>\n