For a long time, when it came time to sell a product or service, the company, or seller, tended to have an advantage over the buyer. The seller held all the cards because buyers didn’t have unlimited access to information about the seller and its product or service. Today, buyers are in control and they can often be hiding.
For a long time, when it came time to sell a product or service, the company, or seller, tended to have an advantage over the buyer. The seller held all the cards because buyers didn’t have unlimited access to information about the seller and its product or service. In fact, buyers would commonly reach out to sellers to solicit more information, to ask for their help in guiding them in a decision, and would rely upon the seller to help make a purchase possible.
That was before the Internet changed the entire dynamic. Now, buyers have much more control when it comes to what they can learn about a product or service before they purchase it. Buyers are savvier, better informed, well-researched, and most importantly, empowered – to the point where they often have little to no need for the seller’s involvement. Yet, sellers still manage to inundate buyers with messages, emails, and promotions, compelling buyers to hide rather than interact with a seller as they make their purchasing decision.
When this happens, sellers miss an opportunity to begin building a positive relationship with their potential buyers that could lead to greater affinity and loyalty to their brand and the product or service they’re selling. To avoid chasing these buyers away, sellers need to understand why buyers are hiding – and how they can better serve buyers within this new dynamic.
Buyers are hiding because…
They are building up their information banks on potential sellers before starting the sales process. With nearly endless options available to them, buyers do their homework by researching and reading through content and approaches before narrowing on a few potential sellers. By the time they get to you, they likely already know the pros and cons of buying, and so it’s important to really let them lead the process and serve more as a guide to ensure that they feel comfortable about their decision.
They want to find “passive sellers,” or really, confident sellers that have products or services that can speak for themselves. These sellers don’t inundate buyers with intrusive advertisements, promotions, or messages because they know they can satisfy their potential buyers. Passive sellers demonstrate that they trust their buyers to make the right decision and that that decision will be by purchasing their product or service – and buyers pick up on that. When buyers feel respected by a seller, they respect the seller more and are more likely to do business with them. This isn’t all that different than the general thinking that passive job-seekers are the talent you really want to go after as they are the best talent to partner with.
They’re not buying what you’re selling. As hard as it may be to admit, sometimes a seller just isn’t the right fit for a potential buyer. Whether it’s because they’re in the market for something else, or you’re not what they need right now, a buyer might determine that they don’t want to make a purchase. When that happens, the best thing a seller can do is respect their decision, and do their best to offer valuable content or information as opposed to persuading them to change their mind. Buyers remember things like this – so if they have a positive experience and are eventually considering other options again, they will give the seller another chance.
As sellers want to increase their conversions with buyers, they have to take a step back and let the buyer lead the process. Both parties want something out of this transaction – and the goal is to build a relationship founded on respect rather than a pursuit of profit to ensure that everyone is happy in the end.