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Psychology of the buyer – Understanding buyer behaviour in order to improve your negotiation skills Speaker: Alessandra Martelli. ProZ.com International Conference Barcelona 2012. - PowerPoint PPT Presentation
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ProZ.com International ConferenceBarcelona 2012
Psychology of the buyer –Understanding buyer behaviour
in order to improve your negotiation skills
Speaker: Alessandra Martelli
Buyer – definitions
Buyer = within an organisation, the buyer is the person responsible for obtaining products and services which are vital to the activities of the organisation they represent.
PROFESSIONAL BUYERS = CUSTOMERS
Buyer = any person who contracts to acquire resources (which could be financial resources, products, services, …) in return for some form of remuneration
“OCCASIONAL” BUYERS = CONSUMERS
Buyer behaviour
There are three main factors involved in the analysis of buyer behaviour:
1 – Buyer preferences2 – Budget limitations3 – Buyer’s choice (combination of 1 & 2)
↓
Buyers will choose the product/service which will maximise their benefit, within budget limitations.
Product/service features
HARD FACTORS: Quantifyable aspects of a product or service
Type of service Turnaround Pricing
SOFT FACTORS: Unquantifyable aspects of a product or service
Does the product suit the buyer’s needs? How easy it is for the customer to buy our product or service? Is communication with the provider smooth & clear?
SOFT FACTORS = ADDED VALUE!
How do customers &consumers buy?
Or: THE D
ECISION M
AKING PROCESS
Decision making - theory
Decision making - complications
Which steps of the decision making process can be influenced by our
communication skills?
Marketingstimulus
Make it easy forthe prospect!
The more detailedyour quote is, theeasier it is for theprospect toevaluate yourproposalIf you did your
homework overprevious, stepsthis one shouldcome easy…
Happy customers are returning customers!
Golden rules ofbusiness communication
Despite of the product/service we are offering, our communication must be
Clear and unambiguous Appropriate (watch out for cultural issues etc.) Polite Positive Honest Organised
Additionally, you should make sure to address all of the prospect’s questions and doubts clearly yet firmly – ANSWERS, NOT APOLOGIES!
Buyer types
Or… WHO THE H**L
AM I TALKING TO?
Speaking of politeness …
Buyer type no. 1: THE DRIVER
Buyer type no. 1: THE DRIVER
Key characteristics: directive, assertive, results-driven, demanding, sometimes lacking tact
Tips:
1)Address their questions straight away2)Demonstrate your willingness of taking risks with them, but don’t be overwhelmed by their personality3)In case of conflicts, don’t worry too much about it4)Remember you are the expert: don’t be afraid to tell them what can and can’t be done
Buyer type no. 2: THE COLLABORATIVE
Buyer type no. 2:THE COLLABORATIVE
Key characteristics: tactful, diplomatic, adaptable, respectful
Tips:
1) Remember the importance of consensus building – make sure you understand all of their buying influences2) Facilitate discussion3) It might take a while for them to come to a decision – be patient, but let them know YOUR terms as well
Buyer type no. 3: THE FRIEND
Buyer type no. 3: THE FRIEND
Key characteristics: interactive, relationship-oriented, creative, enthusiastic
Tips:
1)Keep technical details to a minumum2)Make sure to listen to their ideas3)Be friendly, but politely set boundaries4)When discussing projects, don’t be the “voice of reason”, but keep it realistic
Buyer type no. 4: THE SKEPTICAL
Buyer type no. 4: THE SKEPTICAL
Key characteristics: introspective, critical thinker, takes a while to develop trust with people, usually prefers e-mail communication over phone calls, lacks in gestures and feedback
Tips:
1)Don’t get too friendly or personal too quickly2)Address his questions confidently and firmly3)Provide backup information/supporting documentation4)Prompt for questions and requirements
Buyer type no. 5: THE TORTOISE
Buyer type no. 5: THE TORTOISE
Key characteristics: empathetic, patient, service-oriented
Tips:
1)Do not focus on messages of “change”2)Do not provide too many options3)Keep them on track – do not let them “distract”4)Decisions are likely to take a long time – consider whether all the effort is worth the eventual possibility of a sale/collaboration
Buyer type no. 6: THE TORNADO
Buyer type no. 6: THE TORNADO
Key characteristics: needs “it” done by yesterday, makes decisions quickly & spontaneously, open to taking risk, gets bored by too many details
Tips:
1)Sell adaptability and flexibility as a benefit2)Don’t be overwhelmed by their attitude to pushing3)Be clear about delivery dates & timing – make them understand what YOU need to suit THEIR needs4)Stay connected and let them know you are contactable, otherwise they will just move on to the next option
Buyer type no. 7: THE ANALYTICAL
Buyer type no. 7 – THE ANALYTICAL
Key characteristics: cautious, strictly follows rules & established procedures, examines problems from all different angles
Tips:
1)Provide backup data to help them make their decisions2)Address their questions appropriately3)Do not criticise – they might take that personally4)Do not push too hard before they completed their analysis5)Provide information about your requirements in terms of timing and documentation/information
Buyer type no. 8: THE INNOVATOR
Buyer type no. 8: THE INNOVATOR
Key characteristics: develops ideas & strategies independent of rules, informal, creative
Tips:
1) Brainstorm with them2) Don’t let them think working with you will cost them too much
effort3) Show how working with you will turn their ideas into reality4) Be open to new suggestions & ideas5) Make them understand your requirements are for the sake of
the success of their projects
Questions?
Should you have any further questionsafter this presentation, you can contact me on
THANK YOU FOR YOUR ATTENTION!
References & bibliographyBOOKS
• Keith C. Williams, Behavioural aspects of marketing
• Martin Lindstrom, Buyology. Truth and lies about why we buy
• Daniele Trevisani, Strategic selling
WEBSITES
• Exploring buyer psychology http://www.buyerpsychology.com/index.html
• lConsumer behaviour: the psychology of marketinghttp://www.consumerpsychologist.com