Knowing your audience is paramount to business growth and success. Understanding each audience or customer and their purchase approach is the key to long-term business success and brand loyalty. It’s like knowing detailed information about your family members. Imagine attending a family reunion and not knowing the different personalities and their connections to the family. That would be frustrating for you and your family. However, showing up to a family function and greeting all of your family members, even the ones who aren’t your favorite, regardless of how long it’s been since you’ve seen them, makes a real difference. Knowing their different personalities, who and how they are related to your family, their birthdays, their immediate family members, where they live, and other pertinent information strengthens your bond in the same way a business can strengthen its bond and connection with its customers.
When businesses treat their customers like family, it fosters a deeper understanding of their needs, idiosyncrasies, and shopping habits. This understanding becomes part of your business’s priceless customer knowledge. Knowing why and how your customer makes shopping decisions is one way businesses can truly be there for their customers. Instead of feeling confused or blindsided by their behavior, understanding how your customers naturally interact with your brand based on their shopping habits is good business and how your com stays in business.
The customer who is most often misunderstood is the price-sensitive buyer. This type of customer is similar to that aunt or uncle who always asks many questions before making a decision or answering a simple question. Price-sensitive shoppers do not ask so many questions to annoy or because they are insecure. On the contrary, they are among the savviest shoppers. The price-sensitive shopper is very value-based and wants to ensure they get the best value for their money, regardless of the cost. They are not easily swayed by emotions or by fast-talking salespeople. To earn credibility with the price-sensitive customer, it’s essential to prioritize assisting them in ways that facilitate their cost-analysis research, meeting all their needs rather than just focusing on making the sale.
Engaging with price-sensitive shoppers requires experience, and the ability to identify them is crucial. Here are a few tips to help any salesperson close the sale with this type of buyer:
No Pressure
The price-sensitive shopper does not want to be pressured in any way. However, it is important to be available to answer any questions they may have so that you can connect with them and build their trust. Fast-talking salespeople are an immediate red flag, so it’s important to be mindful and go at the customer’s pace.
Be Sincere
Sincerity is vital for all shoppers, especially those who are price-conscious. They want to see that you are genuinely interested in helping them make the right decision. It might take time and multiple interactions, but being authentic and sincere with them will make them feel comfortable and secure. This is crucial in helping them make the best purchase decision for themselves.
Highlight the Value
One thing to note is highlighting the value of your product instead of the price. Product demonstrations are beneficial as buyers need to see and understand the product thoroughly to ensure they know and can utilize all the features they are interested in.
Make No Assumptions
This buyer has one of the best poker faces in the customer profile. These customers may be hard to read, so it’s essential to be yourself and focus on customer service instead of closing the sale. These customers are researching the product alongside YOU, the sales professional, and the brand. The more knowledge you have to share, the more professional and courteous you are, the greater the likelihood they will buy from you and be a repeat buyer.
This type of customer usually makes purchase decisions out of necessity rather than desire. The price-conscious customer shops as a practical task, not on a whim. They are looking to replace or purchase an item for a specific purpose. Therefore, when engaging with this shopper, it’s important to understand their reason for being there. The goal is to assist them in completing their task with minimal buyer’s remorse. Just as you would engage with different family members based on their interests – like talking to an uncle about sports or cars, a cousin about fashion or coursework, or an aunt about recipes or gardening – with this buyer, the focus should be on helping them get the best value for their time and money.