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

Related posts:

1. Something Scary Is Hiding Inside This Recession
2. What Value Do We Need To Be Selling In A Recession?
3. Do You Pass The Recession Sales Test?

Tags: customers, dysfunctional, pricing, recession

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