Valuetainment - Episode 213： How Customers Make a Decision to Buy Something

00:00:00.000 I'm Patrick Bedevi, your host of AIT Minutes, and today I'm going to talk about how customers

00:00:20.880 make a decision to buy something from you.

00:00:23.880 So the other day I'm searching to buy these two big crown chairs, you know these throne

00:00:28.520 crown king chairs that they sell, I wanted to buy it because I wanted to put in our office

00:00:32.620 so people can take pictures and have some fun with it.

00:00:34.760 And I'm searching for it and I forgot about it, I walked away.

00:00:38.140 Then I went on my phone, so I logged onto something on my phone on ESPN, the same link came up.

00:00:42.820 I said, wait a minute, that's the chair I just looked at earlier.

00:00:45.420 Then I went on a complete different website in the afternoon on Facebook, it popped up

00:00:49.700 again.

00:00:50.700 I said, wait a minute, are these guys spying on me?

00:00:53.840 You know, are there drones flying all over the place and they're watching what I'm doing?

00:00:57.900 Are there cameras here, right?

00:00:59.940 It's not.

00:01:00.940 It's called these companies have figured out exactly my buying process, your decision

00:01:06.000 making process as a customer, and they know exactly which one of the five steps to plug

00:01:10.080 into, so you make the next step which is buying a product.

00:01:13.060 So let me get into it.

00:01:14.060 Five steps.

00:01:15.060 Number one, customers going about their business, all of a sudden a certain behavior produces

00:01:20.020 a need or a want.

00:01:22.140 I need to do this or I want to do this.

00:01:25.120 Now, a need and a want happens because of two reasons.

00:01:28.940 One is internal, the other one is external.

00:01:31.320 Let me explain.

00:01:32.320 An internal issue is the following.

00:01:34.180 You know what?

00:01:35.180 My lips are dry.

00:01:36.180 I need chapstick.

00:01:38.020 You know what?

00:01:39.020 I just kind of feel dehydrated.

00:01:40.060 I need water.

00:01:41.060 Internal, right?

00:01:42.060 I need chapstick.

00:01:43.060 I need water.

00:01:44.060 You know, I'm just a little bit hungry.

00:01:45.700 I've got to go eat something, right?

00:01:47.320 So then the next step, after I do that, it's a different step.

00:01:49.660 But the immediate one is internal.

00:01:51.480 I want to do something.

00:01:52.480 Okay.

00:01:53.480 Next.

00:01:54.480 The other one is external.

00:01:55.480 What's external?

00:01:56.480 You know, I went out and my sister's got this Gucci purse. 1.00

00:01:58.720 I kind of want it as well.

00:02:00.280 External.

00:02:01.280 I'm driving, all of a sudden I see a billboard and I say, oh shoot, I want to go watch that

00:02:04.160 movie.

00:02:05.160 External.

00:02:06.160 I'm on the internet.

00:02:07.160 I'm doing what I'm doing.

00:02:08.160 Boom.

00:02:09.160 A certain thing comes up on ESPN.

00:02:10.160 You know, a Hyundai hybrid, you know, 79 miles per gallon or whatever it is, right?

00:02:15.480 80 miles per charge.

00:02:16.480 I see all these things and they prompt a need or a want.

00:02:20.200 Either way, I need this or I want this.

00:02:22.900 Number two, once I have identified the consumer, the buyer, the customer and need or want, then

00:02:28.640 I go into research mode.

00:02:31.000 So I start searching for things.

00:02:32.780 So again, when your customer is researching, what places do they go to?

00:02:36.480 Think about that.

00:02:37.480 They either go on the internet and they go to Google, which are you visible there?

00:02:40.720 So on the search, life insurance, real estate, digital marketing, pharmaceutical, whatever

00:02:46.380 it is, what's the search that they're going to put?

00:02:48.360 Do you know the top 10 searches for what they're looking for?

00:02:50.960 Do you pop up if that's how they're going to buy your product from you?

00:02:54.220 Referral.

00:02:55.220 Word of mouth.

00:02:56.220 Magazines.

00:02:57.220 Websites.

00:02:58.220 Family.

00:02:59.220 Friends.

00:03:00.220 Referrals. 1.00

00:03:01.220 Social media.

00:03:02.220 Do you pop up in these places that they're searching for this specific thing?

00:03:04.720 Three, while they're doing their search on these different platforms, then they identify

00:03:09.620 their options.

00:03:10.620 And they say, oh, you know, my options are McDonald's, Wendy's, Burger King, okay?

00:03:15.580 My options are this gas station, that gas station, this gas station.

00:03:19.860 My options are Walmart, Amazon, whatever.

00:03:22.580 My options are they identify their three options, okay?

00:03:25.500 And they'll go and do their research on what they need to do, all this other stuff.

00:03:28.420 The other day, we wanted to buy a mattress for my oldest son.

00:03:30.980 So we wanted to buy this Tempur-Peting mattress, right?

00:03:33.760 So we go to this place, and we had all these options.

00:03:35.980 I'm an options guy.

00:03:36.980 I love telling my wife, babe.

00:03:38.440 Three options.

00:03:39.440 I don't buy anything without three options.

00:03:40.980 And she knows it.

00:03:42.100 Everybody here that works, you know, I like three options before I make a decision.

00:03:46.280 So we go to this place.

00:03:47.280 I said, how much is this mattress?

00:03:48.620 He said, $1,900.

00:03:49.620 I said, $1,900?

00:03:50.620 Yes.

00:03:51.620 He said, sir, before you take your phone out, I just want you to know here's how we work.

00:03:55.280 We are the cheapest in the marketplace, and the reason why we have so much confidence

00:03:59.060 in what we do, we're all over the nation, our products are everywhere.

00:04:02.200 If 90 days from now, you find anybody that is cheaper than ours, we will refund you the

00:04:07.300 dollar amount.

00:04:08.300 And 90 days from now, if you want to give it back to us, we'll give you 100% back to

00:04:11.840 your money.

00:04:12.840 Guess what?

00:04:13.840 That's their positioning.

00:04:14.840 They get a sale.

00:04:15.840 See how simple that was?

00:04:16.840 That is their proposition, because they've already thought about the objection I'm going to do,

00:04:20.060 because everyone knows.

00:04:21.060 You're going to take out your phone.

00:04:22.060 You know, if I buy this on Amazon, yes sir, just bring that to us, we'll do this.

00:04:25.600 Okay, no problem.

00:04:26.600 As a matter of fact, right now this is $9.99, you're $1,299.

00:04:29.880 Yes, but if you look at it, this is this.

00:04:32.160 I can give you this $9.99, our product is actually $8.99, but this, oh shoot, I lost,

00:04:36.680 because he's kind of persuading me now.

00:04:38.520 It's a sales process, but they win.

00:04:40.540 I become a customer of theirs buying a $1,300 product or whatever it was that we bought with

00:04:44.920 this Tempur-Pedic.

00:04:45.920 That's number three, options.

00:04:47.700 Number four, as number four happens, customers process up eliminating choices.

00:04:53.360 This doesn't work, that is not this, I'm going with this.

00:04:56.980 Your job is to help be the highest chance of your product being the one that they choose,

00:05:02.100 as they go through the process of elimination.

00:05:03.940 Whatever it may be.

00:05:04.940 It may be a face to face sale, it may be a cold call sale, it may be a phone call sale,

00:05:08.620 it may be an internet sale, it may be an audience sale to your 500 people that are in the audience

00:05:14.060 or 60 people that are in the audience, it may be a radio, it doesn't matter.

00:05:17.560 The process of elimination, so if you know exactly what the options are, if you bring

00:05:21.560 that up to your customer and say, look, ma'am, with all honesty, when I used to sell memberships,

00:05:25.440 I would say, look, you have 24 Hour Fitness here, you have Gold's Gym over there, and you

00:05:29.960 have Powerhouse over here, and we're Valley Total Fitness.

00:05:32.860 Let me tell you about each one of them.

00:05:34.180 This one's this, this one's this, this one's this, this one's this, this one's this.

00:05:36.460 You told me earlier that this is important to you, that's what we specialize in.

00:05:39.960 You told me earlier that an outdoor pool is important to you, none of the other ones have

00:05:42.640 an outdoor pool.

00:05:43.640 You told me earlier that you need a hip hop class.

00:05:45.320 We offer hip hop, this is their schedules, they don't have it.

00:05:48.380 Great product, great gyms, great people there, except based on what you're looking for, we

00:05:52.500 happen to be the one that's the best suitable for you.

00:05:55.620 Is that something that makes sense to you?

00:05:56.820 Yes.

00:05:57.820 Do you see any reason why we shouldn't get started today?

00:05:58.820 Not at all.

00:05:59.820 Great.

00:06:00.820 Can I see your credit card?

00:06:01.820 Boom.

00:06:02.820 We filled it up, right?

00:06:03.820 Process of elimination.

00:06:04.820 And last but not least, which is number five, and this is one that most salespeople or sales

00:06:09.200 managers completely, completely screw this one up.

00:06:13.620 And this is what it is.

00:06:15.240 After this person bought the membership, after this person bought the car, after this person

00:06:22.260 bought the suit from you, or bought the phone system, or whatever it is, the following day

00:06:27.220 is their post-purchase experience.

00:06:30.860 This is when they're going to say, I liked it, I didn't like it, I regret buying it, I want

00:06:35.520 to return it.

00:06:36.520 But if you have a simple process that the moment after they buy it, you call them the

00:06:41.820 following day, that takes out 80% of the regret they're going to have because they no longer

00:06:47.180 feel like they were abused or take advantage of.

00:06:50.320 Because sometimes somebody buys something like the next one, oh my gosh, that person made

00:06:53.420 money off me.

00:06:54.420 Maybe I paid too much.

00:06:55.420 I just checked through the internet.

00:06:56.420 I could have done this.

00:06:57.420 I could have done this.

00:06:58.420 A simple phone call.

00:06:59.420 Hey Larry, this is Patrick giving you a call.

00:07:00.500 How are you?

00:07:01.500 Oh Patrick, hey, how are you?

00:07:02.500 Look, I just wanted to call you and let you know I'm so excited about the new purchase

00:07:05.320 you made.

00:07:06.320 Just wanted to follow up.

00:07:07.320 You know, I really appreciate the time we spent together.

00:07:08.880 Do you have any questions on what we purchased today, yesterday?

00:07:11.940 I'm excited the fact that you said that what was important to you was this and this and

00:07:16.480 that.

00:07:17.480 You told me you wanted the pool, you wanted the hip-hop class.

00:07:19.360 Can't wait for you to take your first class.

00:07:20.980 Have you scheduled your first classes?

00:07:22.260 Can I help you schedule your first class?

00:07:23.860 Great.

00:07:24.860 Then they get off the phone.

00:07:25.860 There is no regret.

00:07:26.860 Because you're showing proof that they made the right decision that they bought from you.

00:07:29.880 That's step number five.

00:07:31.300 Mark my word, in every business, so many people are holding step number five and that's what

00:07:37.740 leads to cancellations.

00:07:39.040 That's what leads to changing their minds.

00:07:40.380 That's what leads to them not wanting to talk to you.

00:07:42.180 That's what leads to complaints.

00:07:43.580 That's what leads to all that stuff.

00:07:45.020 If you do that additional part, that gives you an edge over so many of your competitors.

00:07:48.760 Because after they buy it, if you do a good job and I have a good experience, then I share

00:07:55.420 it with other people.

00:07:56.840 If I really like it based on the way you treated me and gave me a customer experience, then

00:08:01.220 I become an advocate.

00:08:02.280 Then I become a believer.

00:08:04.280 Then you have a floodgates of customers coming to buy from you if you do the last part right.

00:08:10.720 Thanks everybody for listening, and by the way, if you haven't already subscribed to

00:08:13.960 Valuetainment on iTunes, please do so.

00:08:16.560 Give us a five star, write a review if you haven't already, and if you have any questions

00:08:20.700 for me that you may have, you can always find me on Snapchat, Instagram, Facebook, or

00:08:25.280 YouTube.

00:08:25.760 Just search my name, Patrick MidDavid, and I actually do respond back when you snap me

00:08:30.480 or send me a message on Instagram.

00:08:32.640 With that being said, have a great day today.

00:08:34.380 Take care everybody.

00:08:35.100 Bye bye.

00:08:40.720 Bye bye.

00:08:42.700 Bye bye.

00:08:44.180 Bye bye.

00:08:46.660 Bye bye.

00:08:49.560 Bye bye.

00:08:59.660 Bye bye.

00:09:00.600 Bye bye.

00:09:04.680 Bye bye.

00:09:07.060 Bye bye.

Valuetainment - November 19, 2018

Episode 213： How Customers Make a Decision to Buy Something

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