Fundamentals of Selling

Why People Buy

People choose to buy for a variety of reasons.  By understanding the motivations of our customers, we can tailor our sales approach to meet their needs

1. Need Recognition

• Basic Needs: People buy to fulfil basic needs such as food, shelter, clothing, and safety.
• Psychological Needs: Purchases can also fulfil psychological needs like self-esteem, belonging, and personal growth.

2. Desire for Solutions

• Problem-Solving: Many purchases are made to solve specific problems or challenges. For example, buying a new laptop to replace an old, malfunctioning one.
• Convenience: Products and services that save time and effort are highly appealing. Think of IT systems or outsourcing services.

3. Emotional Triggers

• Impulse Buying: Emotions can drive spontaneous purchases. Feeling happy, sad, or stressed can lead to buying as a form of emotional release or reward.
• Status and Image: Many purchases are made to project a certain image or status. Luxury interiors in an office will project a certain status.

4. Social Influences

• Peer Pressure: People are influenced by the buying behaviours of others. If everyone in an industry is using a particular product, an individual may feel compelled to buy it too.
• Trends and Fads: Media, influencers, and societal trends can heavily impact purchasing decisions. Items that are trending on social media often see spikes in sales.

5. Cognitive Dissonance Reduction

• Consistency with Beliefs: People prefer to make purchases that align with their existing beliefs and values to avoid cognitive dissonance. For instance, environmentally conscious consumers prefer eco-friendly products.
• Post-Purchase Rationalisation: After making a purchase, people tend to justify their decision to feel satisfied and confident about their choice.

6. Perceived Value and Utility

• Cost-Benefit Analysis: Customers weigh the benefits of a product against its cost. A product that offers higher perceived value is more likely to be purchased.
• Functionality and Quality: Practicality, durability, and the quality of a product significantly influence buying decisions.

7. Marketing and Advertising

• Brand Awareness: Effective marketing campaigns create awareness and familiarity with a brand, increasing the likelihood of purchase.
• Promotions and Discounts: Sales, discounts, and promotional offers can trigger buying behaviour by creating a sense of urgency and perceived savings.

8. Economic Factors

• Income Level: A person's purchasing power is directly influenced by economic security.
• Economic Environment: The overall economic climate, including inflation, recession, or economic growth, affects consumer confidence and spending habits.

9. Habit and Routine

• Brand Loyalty: Repeat purchases often stem from brand loyalty developed over time due to consistent satisfaction with a brand.
• Convenience and Familiarity: People often buy from brands they are familiar with out of habit, as it simplifies decision-making.

10. Personalisation and Customisation

• Tailored Experiences: Products or services that can be customised to meet individual preferences and needs tend to attract more buyers. Personalised experiences enhance customer satisfaction and loyalty.

What can you offer your customers to satisfy each of these needs?