In the world of product marketing and sales, getting prospects to become paying customers can be a bit of a mind game. Even though you know they are the right target audience for your product, they do not know this. Alternatively, there may indeed be some genuine interest in the your product from the prospect side, but there are still doubts as to the relevance, specificity, price or whether or not this is the right fit for their exact business needs.
How can you convince prospects, or better yet cause them to understand, that they have a need and your product directly answers that need? You must let them know how the product will benefit them and how their specific issues will be solved. That you have the best answer. This type of product marketing is known as a form of direct marketing and is a lot easier than you may actually think it is. You are able to increase your revenues and customer base, if used effectively.
So with that said, here are some things to follow in order to find some success in converting some of these leads into customers.
Be Persuasive and Talk Confidently
One of the ways to convert your prospects into paying customers is to be persuasive and be confident when demonstrating both the product and its business value. It’s not about talking fast to catch prospects off guard or to overwhelm them (that can in fact have a negative impact I’ve found). Yet confidence does leave a lasting impression. It’s important to be an expert in the material, in the pitch, and to be accurate in the statements you are giving.
It’s also critical to be fully prepared for any potential questions in interactions with prospects, to empathize with them and to foresee their needs, and to be persuasive in how your product can fill those needs. Obviously, experience will only help in this regard, but confidence works. Success follows confidence.
People have a natural tendency to associate confidence with expertise. You will represent yourself as an expert and you will seem like you know what you are talking about.
Your Prospects Should Agree with You First
If you want a group of people to want and buy your product, you will need to get them to agree with you first. You can do this by explaining a story or saying something that most people would agree with.
For instance: if you offer a product that will save time while shopping in the grocery store, you will want to start out your conversation with something to the effect of, “Everyone wants to save time in the grocery store, right?” Your prospects will already agree with you and now you can proceed to demonstrate and explain your product.
If your prospects already agree with you, they are more likely to purchase from you.
You already worked hard to get your prospects to purchase the product that you wanted them to so now convince them to purchase more. Your prospects already trust you enough to give you their money so why not take advantage of it to increase your revenues. When choosing to upsell a product, choose one that you will be gaining a lot of profit on.
Upselling is the process in which you increase your profits. This method is used all of the time at fast food restaurants when they ask if you want to make it a large or would you like a fry with that.
Limit Your Quantities to Encourage More Spending
When people think there is a limit on something they will spend more. If a sign says “limit 3 per person”, this looks better than “no limit”. The limit sign creates urgency for the product and it makes people want to react. Even though the product is not going out of stock any time soon, customers will purchase up to the limit just because there is a limit.
Sales signs, discount and clearance signs, and limited quantities will trigger your customers to buy and to buy more.
Repetition, Repetition, Repetition
Repetition has its effect on everyone and over time people will buy into a product because they are used to seeing it. So how can you make this work for you? You need to make sure to outline the key benefits and positives of the product that you offer. Constantly advertise these key points over and over again. Eventually your customers and prospects will become used to seeing them and purchase the product.