Sales Blog with Sales Tips

I think everyone has some level of buyophobia right now. Buyophobia is simply the irrational fear of buying that is seen in certain customers.

Causes Of Buyophobia
Right now there are some real reasons that companies can be resistant to buying. However, there are many instances when this is irrational.

• Legitimate: The customer has a shortage of capital and revenue.
• Not Legitimate: The customer is listening to, and believing, the misguided and selective reporting of the media.
• Not Legitimate: The customer knows we are in the middle of a recession and they think that means they should stop buying. Batten down the hatches.
• Not Legitimate: It’s American to stop buying; we’ve been over consuming for years.
• Not Legitimate: If an employee stops buying, he or she will look better to his or her boss.
• Not Legitimate: The customer feels that the longer they delay a purchase, the better the price.

Buyophobia’s Primary Symptoms

1. Even when a buyer needs a product or service to keep the business running, he or she will resist buying.
2. The buyer will not take advantage of quantity discounts even when he or she knows the product is needed and the savings would be significant.
3. Looking at new and better products is not even considered for fear there might be some hidden cost.
4. The buyer is scared to death to tell his or her boss they might have to actually buy something.
5. Any price other than free makes the buyer’s knees wobble because he or she is afraid the next person in the door might have a better price.
6. The buyer wants everything in writing in order to have absolute certainty and control concerning the sales price.

Dealing With Buyophobia
The core of buyophobia is driven by fear. Fear is caused when people feel they are losing control. Problems occur when fear becomes your customer’s primary purchasing strategy. They become obsessed with keeping control and taking no chances. It’s like the person who is caught in the middle of a raging river and won’t let go of a tree limb in order to take the hand of a rescue worker who can pull the victim to safety.

The Challenge
Our challenge as sales professionals is to reassure our customers that we are looking after their interests. We must also keep them informed at all times; surprises are not good when you might be dealing with a buyophobic. Finally, and probably most importantly, a calm demeanor and rational approach to buyophobics can get them buying again.

©2010 Scott R. Sheaffer

Here’s an irony with an added component. Sales professionals are hired because of their abundant verbal skills. We like to talk. While that is true, we must simultaneously be good listeners too.

Rules 1 And 2
Most people perceive a good conversationalist as one who is articulate and a good listener. However, these two abilities don’t always travel in tandem. There are those who won’t stop talking and those who never add anything to the discussion. I think we would all agree that as sales professionals we must be able to do both to be effective.

Rule 1: Be a good listener.
Rule 2: Have above average verbal skills.

The 3rd Rule
A sales professional must add a third component to this mix. The ability to economically enlighten our customers. To say what we need to say in a concise way. I know there are times when we are relationship building when this third rule does not, and should not, apply. We need to apply the third rule when we are providing information that is directly relevant to the sale, such as advice about our products or services.

The Payoff
Just like the other two rules, the third rule is easier said than done (pun completely intended). It’s mentally easier for us to be verbose instead of to-the-point with customers. We have to work at verbal economy; it doesn’t come naturally to most of us. However, there are many benefits.

1. When we tighten our words, we are forced to think before speaking. We are less likely to blather and more likely to say what the customer needs to hear.
2. Sales professionals who can get to the point always look prepared, smart and knowledgeable.
3. Talkative sales professionals come across as having too much time on their hands. Remember, customers and prospects prefer buying from busy sales professionals.
4. The higher up the decision maker tree you go, the less time the decision maker will give you. Focusing our words gets us the best ROI (Return On Investment) for that limited time.
5. We all know the foundation of sales is partnership. More time is provided for relationship building when less is used for data transmittal.

Be a good listener. Have above average verbal skills. And, keep your words focused.

©2010 Scott R. Sheaffer

Anyone who has been in sales for more than a few months knows the frustrations of being a sales professional. It’s not an easy profession. Your sales manager is pulling you one way, your customers and prospects are pulling you another, and the clock is creating all kinds of problems for you too. If you haven’t lived this, you couldn’t possibly understand.

Right now, the selling profession is tougher than ever. The recession and its relative, “buyophobia,” aren’t helping at all. The media types are working overtime to ensure that everyone stays adequately depressed.

Sure There’s A Recession, But A Sales Career Is Where You Want To Be
I know there are days you’ve thought of parachuting out of your current employer’s airplane. Maybe you’ve even considered leaving sales as a profession altogether. But don’t. Let me give you some reasons to keep putting one foot in front of the other.

1. I have a GPS in my car. When I miss one of its instructions, it doesn’t get upset at all.  It simply figures out where I’m currently located and recalculates a new route to get me to the same destination. We can apply this principle to our sales careers. Yes, things are difficult now, but stop for a second, remind yourself where you are going and make corrections as needed. You can always “recalculate” in order to reach your sales goals. Take a fresh look at how you are selling.  “Do Overs” are totally acceptable in this profession.
2. Time in territory is the strongest single predictor of sales success. Think carefully before throwing away the relationships you’ve earned with your current customers before moving on to another sales organization.
3. Be careful not to blame your current employer for all of your sales frustrations. Virtually all sales professionals are having to work harder and smarter to achieve the same sales goals that came easily only a year or two ago. Don’t fall into the, “There are only two good jobs in the world, my last one and my next one,” mindset.
4. Stay in sales because it’s a great launching pad for your career in general. Sales and finance are where most Presidents and CEO’s come from. I never have understood, however, why bean counters are promoted. I’d rather put someone in charge that’s played the game rather than someone who has merely kept score.
5. Before you bail on a sales career, be sure that you’ll be happy making less money. Even though you might not be hitting your numbers now, you’re still probably making more income than 90% of most professions.
6. This too shall pass. Recessions don’t last forever; they just feel like they do.

Rx
Get yourself a strong cup of coffee and do the following:

• Plan a new sales strategy, if you need to.
• Appreciate the relationships you’ve built with your customers.
• Know that your employer wants you to succeed.
• Remember that sales is where corporations look for their future executives.
• Be grateful for the compensation potential you have as a sales professional.

©2010 Scott R. Sheaffer