When are your customers likely to buy?
Understanding the “Psychology of Buyer Behavior” will enable you to sell more equipment.
Although there is a lot involved with Buyer Psychology, a key is to identify motivation. After understanding and identifying motivation, then next is to make it easy, but only for a limited time. Let me explain.
There are typically two times that our buyers have the motivation to buy gear (hardgoods). First is after completing their open water course, and the second is just before a dive trip. Let’s focus on open water students.
For many people getting “certified” is a tremendous achievement. They feel a huge sense of accomplishment, goal attained! They are excited, and guess what? They are more than likely ready to commit, go all in, and be recognized (labeled) as a Diver. They’ve done something most of their friends haven’t and posted the pic on Instagram to prove it. Here is the small window you need to identify as it doesn’t happen for everyone, but it does happen. Use the buyer’s new mindset as a “diver” to move to the next step, buying their first set of dive gear.
The psychology of the buyer kind of goes like this:
· Develops confidence and feels comfortable (and excited) in their new label, diver. Now your job is not selling; you’re only showing them the way, the next step (investing in hardgoods). If you or the instructor did their job during class, they already understand why owning gear is essential and a “must” if you are to identify as a diver.
· Studies show that 86% of customers are more likely to make a purchase when it is easy. (Forbes, Simple Secret to Apples Marketing July 2014). Well, that “Gear Essential” Package prominently displayed in your showroom will do this. Priced at $999 and the “Same as Cash “ financing, you couldn’t make it easier. This works, contact me, and I’ll put you in touch with this dealer who is killing it.
· Customers are more afraid of loss than motivated by gain. Fear is a powerful motivator. What type of incentive do you offer students to buy gear during class? Whatever it is, it must expire as soon as they set one foot outside of your store after certification. Yes, you are indirectly applying a little pressure, but gear doesn’t sell itself, and you’re are a salesperson, not an order taker.
· The more time invested, the more likely to purchase. The more time spent in your store, the more likely they are to make a purchase. When are they in your store longer than during the open water class? Please do not use the excuse that online training is a reason they are not in your store. Although they are not in your boring classroom as much, they should be in your showroom much more.
So, if you want to sell more gear, reevaluate your procures for open water students and implement the above ideas. Add a few of TUSA’s Gear Essential packages, “Same as Cash” financing, and watch your bottom line grow.