The toughest challenge that companies face today is dealing with the margin-draining games played by some customers to gain additional discounts. Each customer type requires a different selling approach.
- Happy customers
You may tend to like this type of customer. They’re laid back and happy to let me run the show as they trust you with your knowledge.
They have a less complex style of buying but that does not mean they will be easy buyers. These customers have done their homework well and they might even know one or two things more about your product/business. So, the best way to keep them happy is to be confident, and honest and build a healthy rapport by greeting well and occasional check-ins.
- Price buyers
Price-buying customers care only about the lowest price possible. They suggest a lower price. Then say, “Okay, let’s meet in the middle.” By suggesting you meet in the middle, they make it seem like it’s a win-win, even if meeting in the middle isn’t fair to you.
In this split-difference situation, the best you can do is to talk about the product, its features, and also how it is better than others in the market. Indirectly, explaining/justifying the cost.
- Poker players
Their intent in acting as a price buyer is to force the negotiation into a bluffing situation that will benefit the buyer at the expense of the seller. Such customers, always ask for more – often little things.
When dealing with a poker player remember, to be quick enough to differentiate them from price buyers, be aware of the techniques they are using and always recognize that you have value, and don’t roll over and start discounting, which will validate poker-playing behavior.
- The lost one
These buyers are in the dark and even though, they know they have to buy, they are never too sure. Such a customer needs your guidance, though maybe unwilling at times.
With these buyers, start from scratch and help them understand what you do and how your business/product can help them. The best way is to encourage them to ask more questions, this will not only help them understand your work but also, build a trustworthy relationship. Understanding, analyzing, and keeping track of consumer behavior is critical for businesses. This further helps with serving them better, post-sales.