When dealing with a potential customer, try to determine what “game” the customer is playing. You can’t put together a negotiating strategy until you have a good understanding of what the customer wants out of the "game". Understand the tactics that will be used to get you to do things that are not in the best interest of your company, and employ tactics that get the best things for your company.
AVOID PANIC PRICING
Panic pricing is pulling the price discount rabbit out of the hat too soon and without thinking about the alternatives. Customers are drawn to seller’s insecurity and desperation. So the first thing you must be able to do is manage your desperation.
Even if desperation is not there, many customers have figured out how to create it. Their easiest trick is to delay a purchase because they know that the longer they can make you wait, the more desperate you will become. This type of desperation trick makes most sellers poor negotiators because they are too anxious to close a deal.
WHAT ARE THE TYPES OF CUSTOMERS
The toughest challenge that companies face today is dealing with the margin-draining games played by most customers to gain additional discounts. Each customer type requires a different selling approach.
Markets are saturated like never before these days and every niche market is overfilled with hopeful companies. New businesses starting every day and those that are already established grow at an alarming rate, and everyone is fighting for diversified types of customers. Remember people are diversified species, have different personalities and needs, and therefore have to be treated differently. Have you heard a say “treat your customer like they are the only customer you have”?
WHAT CUSTOMERS ARE LOOKING FOR BEFORE MAKING A PURCHASE?
CONVENIENCE – Product or service needs to be easy to find and buy, nobody likes to look around for what they need.
PRICE – Some customers prefer products/services with the lowest price possible. They don’t mind to compromise a little on quality. Other customers seek expensive products/services to underline their material status while others simply align high price with quality.
FUNCTIONALITY – Market is saturated and your products/services have to be better than your competition. This can also mean having all the features needed by customers.
RELIABILITY – Customer prefer brands that deliver dependable products/services.
EXPERIENCE – When presented with two similar products/services, customers are going to choose the one that offers a better experience.
DESIGN – These days design is more than good look and excellent materials. Products need to be easy and pleasant to use to be considered well designed.
By knowing the reason for your customer’s purchase or interaction with your brand, you can quickly identify the type of customer they are. By serving specific needs of any type of customer, you can get an edge over the competition and it’s also easier to prepare the right offer. You can’t please everyone, however, you can please specific types of consumers with the right approach.
HERE IS A LIST OF TYPES OF CUSTOMERS AND HOW TO HANDLE THEM
1. WINDOW SHOPPER - Is interested in purchasing something but it might not be from you. They will engage with any brand that’s going to capture and keep their attention.
HOW TO HANDLE THEM? - Take a good look at your website or on-site shop. Is the path clear and obstacle free? Are there any problems that can disturb the customer journey? The more seamless and curious the experience, the more chance that you are going to attract a window shopper. Good landing page, attractive website look or particularly interesting shop window will get them interested.
2. HELP ME - Is aware of their issue but not how to overcome it. They are searching for a solution.
HOW TO HANDLE THEM? - Every customer likes to be treated special, they want great and personalised deals. They want that even before they become your customers. This does not mean you have to start a price war with your competition, but prepare exclusive deals to encourage them to bite. Be smart about it.
3. INFORM ME - Is aware there is a solution but not where to get it. They know what they want but need more information about where to get the solution from.
HOW TO HANDLE THEM? - Make buying a seamless experience with some information. Take a good look at your selling process. Are there any bumps on the road? People want to buy and become your customers but you have to make the buying process seamless.
4. PERSUADE ME - Knows about a product or service and probably your competitors. Is still deciding who to buy from. They like to be informed, so make that research possible for them. Prepare comparisons, technical specifications, and detailed information. Engage and provide them with all the information they need to make a decision, and in return, they will become your customers.
HOW TO HANDLE THEM? - Prepare enough data, frames with catchy visuals and high-quality photos. Features comparison and white papers are going to shed some light on possible choices. That’s all there is to keep these customers happy.
5. SHOW ME - Knows about your products or services. These are money makers too, however, they are also your most prominent critics. They already know your brand and products/services and they expect quality. They don’t need too much convincing but don’t be fooled, it’s not like they are just going to buy anything you sell.
HOW TO HANDLE THEM? - Keep them satisfied and informed about your specials and new arrivals or new services. They form a huge part of your customer base. They will be responsible for most of your sales.
TYPES OF CUSTOMERS TO TAKE CARE OF AFTER PURCHASE
After all is said and done, how you want your brand to be remembered?
If you manage to build enough social trust, you can benefit from customers long after they made their last purchase.
1. LOYAL CUSTOMER
Is here for as long as you sell. They are not only your customers, they are your fans too. The loyalty of a customer is not an easy task to achieve in a saturated, crowded market. It’s difficult to have this type of customer however, once you succeed, they are here for a long run.
2. REFERRAL CUSTOMER
Spreads the news about your brand and expect nothing in return. These customers are better than many marketing strategies, even the paid ones. Their word has more value because there are no hidden motives. This is the most reliable social proof there is.
3. ADVOCATE CUSTOMER
This one goes a step further. They spread the word about your brand, just like referral customers. They engage in online and real life conversations about your brand, they promote it by testimonials and case studies. Referral and Advocate deserve most of your attention.
HOW TO KEEP LOYAL, REFERRAL AND ADVOCATE CUSTOMERS HAPPY?
They are here to stay as long as you don’t lower the quality of your products, customer service and offers. Keep up the good work, innovate, evolve and adapt. It's that simple!
They are not planning to switch to your competition, they like your products or customer service but don’t make them. They are with your brand because of your product, customer service and most of all, your values. Build a community around shared values, take care of your customers, and your business will thrive.
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