Do you know why people are not buying your products or services?
It turns out most entrepreneurs and marketers have not idea whatsoever.
How I learned people don’t know how to sell
Several weeks ago I’ve met with a young entrepreneur developing an informational product that he was trying to sell online. I’ve spoke with him and I asked him about his business and his biggest challenges. He told me the following:
“Martin, I don’t know why people are not buying my product. I have traffic, e-mail subscribers, people are commenting on my blog and sharing my content but still very few decide to buy”.
That got me shocked for the only reason because before that point I thought that he was a great marketer. See, he knows a lot about SEO, blogging and lead generation. Normally you would assume that he knows how to sell his stuff. It turned out he didn’t.
This got me thinking and in the next few weeks I’ve spoken with several other people that had the same problem – they found it very hard to sell their products and services. Then I’ve spend some time to analyse their businesses, I talked with more entrepreneurs and I found out some patterns.
Why People Are Not Buying?
It turns out there are several really good reasons why people, a.k.a. potential customers are not buying. When having troubles selling consider if any of these reasons is true. Then try to come up with a solution to overcome it. It’s not that hard but you must know what’s not working in order to fix it.
Understanding the resistance to buy
No matter how good or awesome your product or service is people will always have a resistance to buying it. It’s a natural response that we humans develop. Our job as marketers is to help potential customers overcome this resistence and to nurture them to make a purchase.
5 Key Reasons Why People Are Not Buying And How To Overcome Them:
1) The client has no money
This is a rare case but sometimes people can’t really afford your product or service. They simply don’t have the money and even if they want it, they can’t have it. This can be especially true when you’re offering premium and expensive goods.
Solution: There are only 2 things you can do here:
switch your offering to other audiences that can afford your products/services
offer a payment plan
2) The client has no time
Often times the client has not time to decide and use your product. He doesn’t want to learn to use something new because he’s busy with other things that he believes are more important.
Solution: Show the value of your product or service to the client and how it can help him solve his problems. If you can increase his productivity, help him sell more or decrease his expences, he will at least take the time to listen to you.
3) The client thinks he doesn’t need your product
A lot of the times the potential client simply doesn’t see the value in your product and he thinks that he doesn’t need it. And as you know – people are not willing to pay for things they don’t need.
Solution: People don’t really buy product because they need them. They only buy solutions to their current issues and needs. This means that if you manage to communite to them how your product/service can solve their problems, they will open their wallets for you in no time.
4) The client is not sure if now is the best moment to buy
The client might have the need for your product but this doesn’t mean he’s going to buy it. If there is not urgency, he might as well skip and go for something that is more important at the moment.
Solution: Communicate to your client why he should buy NOW. Focus on the problem that you’re solving and explain them what will happen if they don’t take action. They might loose money, reputation, opportunity, etc. Sell them the pain and they will buy. You might also give them limited time offers to crease the sense of urgency. I know a lot of companies that make tons of money this way.
5) The client is not trusting your product or service
The last reasons why people are not buying from you is because they simply don’t trust you. They don’t believe your product or service is good enough or simply they don’t know if you’re worth it.
Trust is really hard to earn this days and it is required in large quantities for some products or services.
Solution: Testimonials, case studies and media reviews are great ways to earn client’s trust and to prove your value. You can also use different content like blog posts, ebook and webinars to establish yourself as an expert and to show that you know how to help them.
So if people are not buying your product or services take the time to analyse why this is happening. What are their reasons: is it because of lack of money, time, need, urgency or trust? And when you know what is the reason, you will know exactly what you need to do to increase your sales.
