Why People Give You Money

(By Loyd Ford) The focus in sales is directed on building relationships, getting appointments, having meaningful conversations, asking a lot of questions, and becoming more and more skilled at fundamentally understanding when to “seize the moment” and close sales over and over and over.

We all know that the more people you see, the more people you sell. Further, we all fundamentally understand it isn’t just seeing them, it’s putting value-based strategies in front of more people and showing you can solve problems that often result in rising revenue.

But why do people give you money? Maybe we don’t ask that question enough or study that question enough because people give you money for a wide variety of reasons.

Money isn’t real, but it is a very real way people see value. How can we look at the reasons people give us money and study that more to become better sellers? Let’s take a look at why people give you money.

• People believe what you are offering is worth more than what they are paying to get it. People believe that the product or service being sold has value to them, either in fulfilling a need or desire. This often comes down to brand.
• People feel they can place their trust in what they see as your credibility. If they trust the salesperson or the brand, they’re more likely to make a purchase. The brand is trusted, but the person delivering the offer must be trusted also.
• People feel persuaded by you and they are impacted by a person’s influence. Salespeople who become sharper at using persuasive techniques to convince potential buyers that their product or service is the best solution for their needs are much more likely to earn more money.
• When a salesperson can illustrate that there is a sense of urgency or scarcity, people are more likely to act and give you money. Think limited-time offers or the perception that time is running out or a competitor may lock up an opportunity can actually motivate people to make a purchase more quickly.
• When sellers become skilled at creating emotional appeal, sales often rise. Some purchases are driven by emotions rather than logic. Salespeople may appeal to emotions such as happiness, security, or status. This has much more power than most sellers focus on.
• When you make it easier for people to buy, that often results in higher success. No matter where you work, if you are involved in the sales process (or management), your job is to make buying from your company easier. Smart salespeople offer convenience by providing a solution to a problem or need without the buyer having to spend time researching alternatives.
• People can easily see social proof that others already know the value of what they can purchase. Seeing others make a purchase or positive reviews can influence people to buy. Don’t underestimate the value of this and work to spread the word because it works.
• Offering smart incentives or discounts often creates a faster yes. You’ve heard this a million times. It’s in the way you build your strategy. Special offers, discounts, or incentives can encourage people to buy.
• Please make sure you are offering an actual solution to a problem the prospect recognizes. If the product or service solves a problem or meets a need, people are more likely to buy it.
• The power of the impulse buy can be amazing. Sometimes people make purchases impulsively without much thought or consideration. But you have to be present to win.

Don’t underestimate that people really do give you money for a variety of reasons. The better we become at active listening and problem-solving, the more we become aware that we can use a wide variety of opportunities to close sales regularly.

Nothing really replaces what I call having a strong focus on TSS (time spent selling). I will forever encourage market managers and sales managers to actively focus on creating more time spent selling like they prioritize time spent listening for audience. This isn’t being a salesperson. It is knocking down other sales activities that get in the way of spending valuable time-solving problems for more prospects regularly. If you are an actual seller, this is your job, too. Control your time management so you see more prospects with a process to put more solutions in front of them but don’t forget to spend time studying all the reasons people give you money.

Time is money. Discover more reasons why people give you money and you will attract more to your bank account.

Loyd Ford is president and chief strategic officer at Rainmaker Pathway Consulting Works (RPC). They help local radio with ratings and revenue. Reach him anytime at 864.448.4169 or [email protected]. Read Loyd’s Radio Ink archives here.