5 Steps the Internet Buyer Goes Through by lisafugere

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5 Steps the Internet Buyer Goes Through
by lisafugere

Every salesperson who?s been in the business more than a few months understands the sales cycle, but what of the buying cycle?

Understanding the phases of the buying process will allow you to make adjustments to your sales pitch so it's in line with your prospect at any given time during the sales process. A quality marriage between the sales cycle and the buying cycle is the difference between closing some of the time and closing most of the time.

Identifying the Problem (or the Opportunity)
The initial stage of any buying cycle begins when prospects either realize they have a problem or are shown an opportunity to improve their bottom line. If you reach your prospects when they are in this stage, you've probably cold called them, or caught their attention with a marketing campaign. Customizing a sales outreach at this point can prove difficult because prospects aren't yet in the market. A trigger event may not have catalyzed change within an industry. Perhaps your phone call is the trigger event. At this point, prospects don?t necessarily know what type of solution they're looking for; they know that there is a problem or opportunity that can make their business more profitable.

Searching for Solutions
Once prospects realize that something needs to change, they?ll start looking for products, services or methodologies that can help them meet goals. In this stage, you can help the prospect narrow down solutions and put yours in the forefront. This isn?t the stage to push the sale. This is where you begin to build trust with the prospect. If you are too strong in your sales pitch here you could end up with significant resistance, including losing the sale altogether.

Comparing Solutions
While reaching a prospect before your competitors gives you the advantage of becoming the emotional favorite, most prospects will still explore their options before making a final decision. They will likely compare and contrast options by doing research on several possible solutions. At this stage, the prospect will create a short list of possible choices. If you make it on that list, make the most of it by offering intangibles that your competition does not.

Validating and Rationalizing the Purchase
During the rationalization and validation stages of the buying process, the buyer will be looking closely at the specific needs that they have and exactly how your offering addresses them. This will undoubtedly mean you will have to answer specific questions about costs, projected returns, reference lists and various other corporate hoops. If you are still here at this stage, the trust that you earned early on will be one fo the most important assets you have.

Deciding to Buy
Your success throughout the purchase process predicts your success at the end of it. Prospects don't decide to buy because of your skillful closing techniques; they decide to buy because of your skills throughout the entire sales process. An expert close ensures that your prospects don't back out at the last minute, and accelerates a decision. The best way to close is to follow through on a great opening.