The 5 Reasons Why People Don’t Buy—and What to Do About It
At the 2018 NAMM Show, Sean Samson of Sean Samson Training had a strong message for music retailers: a new approach equals new revenues. Samson cautioned retailers that you either grow or fall behind. “The way to grow your business between 30–100 percent in the next 12 months is to connect with people,” he said. “It’s the reason why you’re going to sell anything or make a difference in your business.”
The 5 Reasons Why People Don’t Buy
Why do customers say “no”? According to Samson, the following sales objections are the same across all industries, across the world:
1. No need. If no one sees a need in what you’re selling, you’re dead in the water.
2. No trust. You’ll have a tough time if you can’t develop trust or a rapport with customers. People buy from you because they feel comfortable and safe.
3. No authority. You have to talk with the right people who have the authority to spend.
4. No money. All “no money” means is that they weren’t planning on spending their money with you.
5. Wrong price. Find out what their budget is, and figure out the right price before you deliver.
Samson related a story about going into a large music store and having the salesperson engage him in conversation to figure out what kind of player and what type of buyer he was. The salesperson asked, “Sean, if you were to buy today, what’s your budget?” Samson advised retailers to establish that customers have a need, determine if they’re the decision-maker, get the budget and develop a rapport. Know that the most important part is to deliver the right price. If the salesperson would have said, “OK, you’re just looking—let me know if I can help,” he would have lost the sale. Don’t give anyone a chance to buy from someone else.
Retail Facts to Keep in Mind
• More than 60 percent of people would still rather shop at a brick-and-mortar store than buy online when deciding on their final purchase.
• 90 percent of consumers are more likely to buy when helped by a person whom they perceive to be a subject expert.
• 49 percent of consumers say they would rather shop brick and mortar stores over the web because they want to take items home immediately.
Foolproof Your Business for the Future
• A brick and mortar’s advantage over online retail is that it has the opportunity to connect with people. It’s not your job to compete. It’s your job to help and connect with customers. Sounds simple, but you may be missing one of the five reasons people don’t buy.
• Don’t assume that customers know what they want when they walk into your store. Let customers know what options are available to them.
• Make sure you’re curious to know what the customer wants. Gauge yourself off of the five reasons people don’t buy, and you’ll see results.
• Connect with people. The internet isn’t taking sales or opportunities away from you. It’s that you weren’t able to make the connection with a customer who comes into your store.
• Be the preferred source. You have to let people know that you’re the one to go to moving forward.