Increase Your Sales by Reducing the Risk

selling, marketingToday in our Monday is for Marketing feature I want to address a key element in marketing and selling, and that is “reducing risk.” Prospects often feel like they are at risk in the purchasing process, especially first-time buyers. Good sales people are typically persuasive. But most prospects have been “persuaded” and have made bad purchasing decisions in the past. They don’t want to make a bad decision again! Plus the prospect does not really know if we are truly trustworthy professionals with reliable products and promises! You can increase your sales by being proactive to reduce the prospect’s risk. By doing this we make it easier for them to move forward with a favorable purchase decision. Here are 3 ways that sales professionals can reduce the risk.

Build the prospect's confidence through references and reviews.

The fact that other people or companies have already purchased and used your solution is a proof statement that reduces the buyer’s risk. Testimonials can be helpful but in today’s marketplace they are not enough. Purchasers do not trust testimonials much more than they trust traditional advertisement. However, they place a lot of trust in online reviews. So I encourage my clients to leverage the power of online reviews. There are many places your customers can go to give you a review, including Google, Yahoo, Bing, Yelp, Angie’s List, and many more. Of course you may also get some less than flattering reviews which you should properly address. But this is the very reason people trust reviews. Make online reputation management a key part of your marketing strategy.

Reverse the prospect’s risk by making a guarantee.

This can be tricky in some industries, but if there is a realistic, easy “way out” for your prospect, it communicates that you will protect them from “buyer’s remorse” and work hard to fulfill your promise. What is your promise and how can you guarantee that the customer will not suffer a loss for making the purchase? If you can communicate this message effectively it will make purchasing much easier for your prospect.

Video interviews, stories, and testimonials connect with the emotions of the purchaser and create trust – reducing risk.

I highly recommend that you leverage the power of video. With today’s technology it is so easy to create a video of a real live customer talking about the value of your product or service. When we see and hear “real” people talking it creates an emotional connection with the purchaser. When the purchaser feels more emotionally connected they feel less risk. It’s that simple! Let me encourage you to work hard to reduce the risk for your prospects by using one or more of these tools. Remember, people love to buy, they just hate to be sold! If you're in the Houston area and want more help to increase your sales, contact us today!

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