Sales teams continually look for buying signals, but what are these signals? And how can your sales team recognize them?
Buying signals are any indication that a potential customer is interested in purchasing a product or service. They can come in many forms, from the obvious (like a customer asking for pricing information) to the more subtle (like a customer who lingers on your website or comes back to your store multiple times).
Why Should You Look Out for Buying Signals?
It can be hard to tell whether your customers want to buy when selling online over a call. This is not to say that all customers are dishonest, but some will try to hide their true intentions.
Sales is an unavoidable part of business development. If you are selling your products and services over the phone, it is important to pay attention to what your customers say. If they say they don’t want to buy right now, ask whether you can schedule a follow-up call. You should also consider what your customers do. If they are unresponsive during your call, they are probably not interested in buying. If they hang up during your pitch, it’s probably a dead-end.
An excellent tactic to use when speaking to customers is to ask questions that require a detailed answer instead of a yes or no response. Open-ended questions provide you with more information than a yes or no question and give the customer an opportunity to explain the situation.
Repeating what the customer says to you also allows you to clarify information and shows that you are paying attention. Many customers will also feel more comfortable discussing their personal situation when they know you are genuinely listening.
What Customers Do When They Want to Buy?
Of course, only some customers who show an interest are ready to make a purchase. Buying signals can be an excellent way to gauge where a customer is in their buying journey. Here are some common buying signals to look out for:
Asking For More Information
If a customer asks for additional information about your product or service, it’s a good sign that they’re interested in learning more. This could include asking for a demo, requesting a price quote, or wanting to know more about your feature set.
Showing Interest in Your Competition
It’s not always a bad thing if a potential customer shows interest in your competitor. In fact, it could be a sign that they’re comparison shopping and trying to find the best option for their needs. If you notice a customer mentioning your competitor, try to find out why and see if there’s anything you can do to address their concerns.
Talking About Their Budget
Budget is often a key consideration for customers when making a purchase, so it’s not surprising that buying signals often revolve around budget discussions. If a customer starts talking about their budget or what they’re willing to spend, it’s a good indication that they’re getting serious about making a purchase.
Asking for a Discount
Another common budget-related buying signal is when a customer asks for a discount. This could be a coupon code, a bulk discount, or simply negotiating for a lower price. While you don’t want to give away your product for free, showing that you’re willing to work with a customer on price can signal that they’re interested in buying.
Asking About Payment Options
Payment options are often an important consideration for customers, so asking about payment options can be a strong signal that they’re interested in buying. This could include questions about financing, payment plans, or methods of payment.
Expressing a Sense of Urgency
Urgency is another common buying signal, particularly when it comes to time-sensitive purchases. If a customer expresses a need to buy quickly or mentions an upcoming deadline, it’s a good indication that they’re ready to make a purchase.
Asking About Delivery or Installation
Another common signal that a customer is interested in buying is when they start asking about delivery or installation. This is particularly common for larger purchases, such as furniture or appliances. If a customer is asking about delivery or installation, it’s a good sign that they’re getting close to making a purchase.
Sales teams have to walk a fine line when figuring out if customers are being polite or genuinely interested in purchasing their products. These were some common buying signals to look out for. Of course, every customer is different, so it’s important to pay attention to the individual signals a customer is giving off. By doing so, you can better gauge their interest level and better understand their needs.
Things You Can Do to Recognize Buying Signals
In online sales, it is important to identify buying signals to close the deal. Several actions allow you to recognize buying signals:
Look for Verbal Cues
When your potential client is interested in what you’re selling, they will usually give off verbal cues. They may ask questions about the product, express interest in the features, or say things like “I need this” or “I want this.” If you hear any of these cues, it’s a good indication that the person is interested in buying.
Take Note of the Time
Customers who are interested in buying something will often stay longer than those who aren’t. So, if you notice that a customer has been in your store for a while, it’s a good sign that your customer may be ready to make a purchase.
Identify Nonverbal Cues
In addition to verbal cues, you can also look for nonverbal cues that indicate interest. These may include body language cues like leaning in, making eye contact, or nodding. Alternatively, the person may be looking at the product intently or touching it in a way that shows they are interested.
Pay Attention to the Tone of Voice
The tone of someone’s voice can also be a good indicator of interest. If they sound excited or enthusiastic, it’s a good sign they are interested in buying. Conversely, if they sound disinterested or bored, it’s a good indication that they are not interested in the product.
Listen for Key Phrases
Customers will often give verbal cues that they’re interested in buying something. Pay attention to the words they speak and look for key phrases like “I need,” “I want,” or “I would like.”
Ask if They Have Any Questions
Asking if the person has questions is a great way to gauge interest. If they have questions, it shows they are interested in learning more about the product. If they don’t have any questions, it could mean they are not interested or already know everything they need to know.
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See If They Are Ready to Buy
Sometimes, the person may be ready to buy but is waiting for you to make a move. If they are looking at their watch or tapping their foot, it could signify that they are ready to purchase but are waiting for you to give them the green light.
By paying attention to their verbal cues, you can effectively gauge someone’s interest level and determine the best time to close the sale.
Tips on Closing the Deal When Customers are Interested
It can be challenging to close the deal even when customers are interested, but you can work on increasing your chances. Before you’re ready, be sure to build rapport with the customer. This will make them more likely to trust you and your product.
Be confident and clear when you make your offer. If you are clear about what you are offering and why it is the best option, the customer will be more likely to say yes.
When customers are interested in your product or service, it's important to close the deal beneficially and professionally for both parties. Here are a few tips to help you close the deal:
Ask Questions to Get Them Talking
You may be thinking, “Why would I ask questions if I can just talk about the product?” But getting the customer talking makes them more comfortable with you, helps you understand their needs, and gives you some helpful clues as to what kind of sales approach to use.
Think about it. If you’re in a conversation with someone, your experience is different than if you’re sitting listening to them talk. Asking questions puts you in the conversation, too.
Questions also help the customer sort out what they really want. If you’re speaking to them about the product and they have questions, you know they’re engaged and invested in what you’re telling them.
Open-Ended Questions You Can Ask
Open-ended questions can’t be answered with a simple “yes” or “no.” They encourage the customer to elaborate on their answer.
Here are some examples of open-ended questions:
Use Closed-Ended Questions Too
Closed-ended questions can be answered with a “yes” or “no.” They’re great for getting specific information from the customer.
Here are some examples of closed-ended questions you can ask:
Listen To the Customer
While it may seem obvious, you can’t stress enough on this one. It’s important to listen to what the customer is saying instead of waiting for your turn to talk.
You must listen to the customer and understand their needs. It will help you figure out the best way to sell to them.
Summarize What the Customer Has Said
After the customer has told you what they’re looking for, summarize what they’ve said. This shows that you’ve been listening and that you understand their needs.
Find Out What’s Important to The Customer
Once you know what the customer is looking for, find out what’s important to them. What are their priorities? What are their concerns?
You can ask questions like:
Address the Customer’s Concerns
After identifying what the customer’s concerns are, address them. This shows that you’re taking their concerns seriously and that you want to help them make the best decision for themselves.
Make a Recommendation
Once you’ve addressed the customer’s concerns, make a recommendation. Tell them what you think is the best solution for their problem. Make an effort to genuinely help them, and see how you can be a part of that solution.
Ask For the Sale
After you’ve made your recommendation, it’s time to ask for the sale. The customer will be ready to buy if you've done your job.
Follow Up
Don’t forget to follow up with the customer after the sale. Thank them for their business and make sure they’re happy with their purchase.
Conclusion
When you’re running a business, you understand that the key to success is understanding your customers and giving them what they want. However, sometimes it’s hard to determine what your customers want, especially when they're not telling you outright. This is where buying signals come in.
Buying signals are like breadcrumbs that your customers leave behind as they move through their buying journey. By paying attention to these signals, you can better understand what your customers want and need and position your products or services accordingly.
