Consider this: When you – as a customer – make a purchase, what are you buying it for? For example:
- Do you buy a phone for all its components, chips, cables, and the screen? Or do you buy it for its ability to keep you connected with your loved ones?
- Do you buy a car for its engine parts, gas tank, and windshield wipers? Or do you buy it to get you around safely, effectively, and comfortably?
- Do you buy a bed for its springs and filling? Or do you buy it to get a good night’s sleep?
- Do you have your furnace inspected to have someone in your house for an afternoon? Or do you have it inspected so you can keep warm in the winter?
I think the answer is obvious! You are buying these things in your own life for the BENEFITS they offer you – not necessarily for the item or service itself.
And yet, too many business owners and sales professionals miss this crucial bit of truth in their marketing and sales presentations:
People don’t buy what they need – they buy what they want. Meaning, they are not looking for an item or service. They are looking to fill a need they have. A buyer won’t necessarily buy a car for its gas tank – they will buy for the comfort, safety, and reliability.
This is a huge revelation for anyone looking to market more effectively and/or increase their sales!
Too many business owners spend their time focusing their efforts on the product they sell instead of the benefit it offers. Meaning, don’t sell the car – sell its comfort and safety!
Here’s the thing. As an expert in your industry, you know your products and services inside and out – and you should! BUT by and large, your clients only need to know what problem you are solving for them. It’s called “benefit selling” and it’s worth it for your business to shift your marketing to reach people in that way!
The moral of the sales story: Keep it simple, and solve their problem. That’s really it! Sell that, and you’ll double your sales in no time!
My last podcast was with the incredible Carl Allen, who is a master in business. He has worked on transactions that are worth over 50 billion dollars, which includes 250 Acquisitions and sales, together with more than a hundred Capital fundraising projects. In a 24-year career, Carl has analyzed thousands of businesses, both big and small, and 17 different countries and across almost every business sector.
In short, the man understands businesses! He shares some incredibly unique ways to double your sales – including how to buy related businesses – in our interview, so DO NOT miss his show!
In all of his years of experience, he said that one major downfall of businesses he has observed is that they are selling products and services rather than the benefits they offer. And as soon as that changes, sales start to go up! This is huge!
So, run with this in your business! Think about it: How are you trying to appeal to your target clients?
Better yet, what problem do you solve?
Market that – and watch your sales grow!