4 factors that convince anyone to spend

Do your customers have these questions in their mind?

If there is one simple recipe to win a sale that would be taking care of the combination of the following four factors. No customer would spend a penny on a thing until s/he recognizes these:

1. Urgency
2. Economy
3. Trust and
4. Value

In the context of software business a customer’s buying decisions are usually driven by the thought process that forces them to question on the above factors. If you can answer those questions and satisfy a customer’s quench for value, the deal is in place. Here are some of the key questions they ask themselves before they safely maneuver each of the above phase.

Urgency

Realization that they have reached a stage where not owning the thing makes them less effective. Unless they realize this is the right time to buy, the sale will be postponed. Here are the questions you need to answer to make the deal right NOW.

1. What do I lose by not buying now?
2. What is the cost of postponing the purchase to a later date?
3. Am I going to spend more of my productive time in doing things manually without this product?
4. Will the cost of the product increase if I do not buy now?

Economy

Obviously money is a crucial deal breaker. Here is what people think before spending:

1. I know I need to own this thing but can I afford it?
2. Is it worth it?
3. Is there a cheaper option?
4. Can I get a discount?
5. Can I pay it late?
6. Will it be cheaper if I buy tomorrow?
7. If I do not buy, will I have to spend more than the buying cost of the product?

Trust

If you are a stranger and a customer is about to work with you for the first time it is definitely a point to focus and convince your prospect about, and showcase your authenticity. Try answering the below questions.

1. How do I ensure what I buy will offer the value anticipated?
2. What are the risks if it does not work?
3. Is there a service guarantee and warranty?
4. Is there a money-back offer?
5. Has someone in my circle used it before?
6. Can I take a trial for sometime?
7. What if the service winds up at some point in future?

Value

Probably this is where the thought of buying normally sprouts. There should be a pressing problem that the product addresses. Unless a customer realizes the problem, none of the above factors can help in closing the deal. You should also know how the customer’s problem is disguised too. Some would buy a brand just as a matter of pride.

1. Will this product help my team do more work in less time?
2. Will it help the longevity of my customer lifecycle?
3. Will I be happy about associating with this product?
4. How secure is this product for my business?
5. Does it offer a great user experience?

These four factors do not constitute a sales lifecycle or customer acquisition funnel. But anticipating such questions would help you complete the sales cycle successfully and you should definitely consider them to get your purchase order in place.