Selling to a business or organisation can often feel like trying to predict the future. If we could understand exactly how each prospective buyer behaves, what they want, and their next move, the process would be far simpler. Unfortunately, prospective buyers come in all shapes and sizes, each with their own unique approach to decision-making.
As a sales training company, we’ve learned that while every buyer is different, they often fit into certain categories. Recognising these types allows you to adapt your approach and improve your chances of success. We will talk about how to find these buyers and how to talk to each one effectively.
Keep in mind that these tips are not universal answers. Even though every buyer is different, there are some common types of buyers that you can use to feel more confident in the sales process. Even though not every sale will go well, it is important to know when to take a step back and rethink things. This will help you stay professional and save time.
Definition Of A Prospective Buyer
A perspective buyer is someone who shows interest in purchasing a product, service, or even an entire business. In the context of business sales, the term refers to individuals or organisations who may be looking to invest or take ownership. The prospective buyers meaning can vary depending on the industry, but they all mean people who are thinking about buying something.
Anyone who works in sales needs to know how potential buyers think and what traits they look for. It helps businesses tailor their approach, whether they want to sell their business, their products, or their services.
The Different Types of Prospective Buyers in Business Transactions
The Assertive Buyer: What Drives Them?
It can be hard to deal with a buyer who is assertive, especially in a business-to-business (B2B) sales setting. People who are buying can often be rude or disrespectful, interrupting your presentation all the time and making you feel like you are always on the defensive. You may have met one of these buyers if you have worked in sales for a while. They try to take charge of the conversation by putting salespeople under a lot of stress.
What makes an assertive buyer do what they do? This kind of potential buyer is confident and wants to be in charge. Certain things about them make them easy to spot.
The following are some traits that most assertive buyers share:
- Firm handshake: They usually hold your hand tightly, sometimes too tightly, to show that they are in charge.
- Constant eye contact: They will look you straight in the eyes and challenge you to break the stare first.
- Straight back: They often sit forward with a straight back, which shows that they are paying attention and also want to be in charge.
- Overconfidence: Buyers who are assertive tend to be very sure of themselves and what they have done.
- Interruptions: They often speak up and make objections before you are even done with your presentation.
How should you deal with an assertive buyer now that you know what these traits are? It is important to stay calm and not change how you do things just to match their energy. Here are some tips on how to handle these interactions well:
- Be yourself: If someone is being mean, do not try to be mean back. Let them have the upper hand when you shake hands, but stay calm and professional.
- Natural eye contact: It is important to keep eye contact, but do not force it. Do not try to change them, and do not let their intensity scare you.
- Take it easy: If they lean forward, do not feel like you have to do the same. Stay calm and do not make things worse.
- Do not flatter: Do not give them fake compliments or agree with everything they say. This will only make people angry on both sides.
- Be patient: If they try to get you off track, just answer their questions and keep going with your sales process. Follow through with your plan and stay in charge of the conversation.
- Do not be too friendly: Do not try to “win” their trust by being too nice. Assertive buyers value professionalism more than getting to know you personally.
In short, people who are interested in buying and are assertive or aggressive do so because they want to feel in charge and confident. As a salesperson, you need to stay calm, show that you value their trust, and still be the professional in charge of the process. You can handle these kinds of buyers better if you stick to your own style and act professionally at all times.
The Cautious Buyer: Navigating Their Concerns
A cautious buyer can often seem like the most difficult prospect to work with. They tend to approach every decision with scepticism, constantly questioning and seeking reassurance. This type of prospective buyer is not easily persuaded and often requires a lot of proof before proceeding.
A cautious buyer often responds to questions with “But…”. For example, they could say, “I understand that, but what about this issue?” They rarely take things at face value and are constantly looking for potential problems, even when none exist. They are also more likely to bring up previous negative experiences with the product or similar services during conversations.
Here are a few characteristics that define a cautious buyer.
- They are constantly looking for validation for their concerns.
- They frequently focus on the negatives and see risks in everything.
- They require guarantees and proof of your product’s quality or reliability.
- They have had negative experiences with competitors, which they may use to justify their concerns.
Navigating a cautious buyer requires a subtle strategy. The key is to address their concerns without overly explaining or justifying each point. Here are some approaches to managing these buyers:
- Recognise their concerns: When a cautious buyer raises a question, recognise it by answering it clearly. However, do not spend too much time on the problem. Simply provide the required information and proceed with your sales pitch.
- Do not feed their fears: While it is important to address legitimate concerns, avoid devoting too much time to irrational fears. A cautious buyer may try to drag you into discussions about topics that are neither relevant nor grounded in reality.
- Answer, do not justify: Respond clearly, concisely, and confidently. Trying to justify every claim can make you appear defensive, and the more information you provide, the more likely they are to use it against you. Stick to the facts.
- Do not talk badly about your competitors: Even if the buyer talks about negative experiences with competitors, it’s best to steer clear of criticising them. Instead, focus on showcasing how your offering addresses the challenges they have encountered, all while maintaining a positive perspective on the competition. This demonstrates a strong sense of professionalism and integrity.
In short, when dealing with a cautious or distrustful prospective buyer, the goal is to build trust without going into too much detail. Show empathy for their concerns while keeping the conversation moving forward. You can help them feel more confident in their ability to make decisions by listening to their concerns in a calm and professional way.
The Knowledgeable Buyer: Leveraging Expertise
Working with a knowledgeable buyer can be both rewarding and challenging. These buyers often believe they already know everything about your product and company, making it difficult to provide new information.
A prospective buyer definition like this often sees themselves as knowledgeable about the industry and may prefer to guide the conversation rather than be sold to. Their behaviour is similar to that of a patient who insists on diagnosing their own health problems—they are knowledgeable and expect you to recognise their expertise.
Here are some important characteristics of a knowledgeable buyer:
- They often ask you to clarify your claims and bring up some tough questions.
- Your attention to detail and expertise in the industry are really put to the test.
- They might even say they have a better understanding of your competitors’ pricing and features.
To engage effectively with a knowledgeable buyer, you must recognise their expertise. Instead of attempting to prove them wrong, take a supportive stance.
Here are a few helpful tips:
- Applaud their thinking: Recognise their understanding and respect their knowledge.
- Congratulations on their ideas: Tell them that their expertise makes them an ideal customer.
- Highlight the importance of an educated consumer: Emphasise that buyers like them make the best choices.
Recognising their knowledge and offering solutions tailored to their expertise allows you to establish a strong rapport and guide them towards a purchase without pushing too hard.
The Price-Sensitive Buyer: Finding Balance in Negotiations
A price-sensitive buyer is one of the easiest to identify. This buyer is solely concerned with price and is uninterested in learning about the features, benefits, or specifics of your product or service.
They simply want to know how much it will cost and often expect a price right away, regardless of the sales presentation or the value that your product provides. They are motivated by cost, and their primary goal is to get the best possible deal.
Here are some characteristics that distinguish a price-sensitive buyer:
- They often claim that they understand all of the benefits and do not require a detailed sales presentation.
- They will express a desire to purchase immediately, but only if you give them a price.
- They typically prioritise price over other aspects of the product or service.
Dealing with a price-sensitive buyer requires a delicate balance. While it may be tempting to jump right into a price discussion, it is critical to maintain control of the conversation. Here are some tips for dealing with these buyers:
- Stick to your presentation: Avoid the temptation to provide a price right away. Make sure you follow your sales presentation exactly as planned, as this will help the buyer understand the full value of what they are getting.
- Inform them about your pricing process: Inform the buyer that your pricing is the result of a thorough process that considers their needs and requirements. Explain that going through the process ensures they get the best value for their money.
- Establish boundaries when necessary: If the buyer insists on a price without going through the entire process, politely but firmly inform them that you cannot proceed until they have the information they need to make an informed decision. If they are willing to listen and continue, you have a good chance of making the sale. If not, respect your own boundaries and move on.
In short, giving a price-sensitive buyer the price before they understand the entire offering is detrimental to both parties. A prospective buyer must see the value in what you are offering before they can truly appreciate the price.
The Reserved Buyer: Approaching with Sensitivity
The reserved buyer is one of the more difficult prospects to manage because they are quiet and provide little feedback. They may appear agreeable, nodding or smiling, but this does not necessarily mean that they are willing to buy. When you define prospective buyer, this type can be confusing because their silence may be mistaken for agreement.
Here are some characteristics of a reserved buyer:
- They ask very few questions.
- They agree with everything you say but rarely express strong feelings.
- They do not raise any objections, leaving you unsure of their true stance.
To get a reserved buyer to chat, you need to encourage them to open up and engage in the conversation. Just because they are quiet does not mean they agree. It might be a good idea to gently ask them for their thoughts or any concerns they might have. By encouraging them to share their thoughts, you can gain a clearer understanding of their needs and ultimately close the sale.
The Lighthearted Buyer: Dealing with Humour in Business Deals
The cheerful buyer, often referred to as the “joker” by some, can be one of the most distracting types of prospects. They often come across as very warm and approachable, sometimes transforming serious discussions into light-hearted banter. While this can make the interaction fun, it might also be a bit frustrating as it takes the conversation off track from the main topic.
Here are some important characteristics of a lighthearted buyer:
- They avoid or sometimes ignore questions about the sale.
- They enjoy long meetings or lunches where business talk is kept to a minimum.
- They often take a long time to decide and seem unsure when asked to place an order.
To manage a light-hearted buyer, it is important to keep a cheerful attitude while staying firm on the business side. Here are a few friendly suggestions for handling them:
- Keep your questions clear and confident: Make sure they address the important issues. Be courteous yet straightforward when looking for answers.
- Set boundaries: Let the prospect know that you are willing to engage in personal discussions after the business matters have been addressed.
- Ask for the order confidently: These buyers often try to push your limits because they think you will be too scared to ask for the sale. Do not lose focus, and ask for the order with all your might.
In conclusion, the lighthearted buyer may distract you with jokes and casual conversation, but you must remain focused on the task at hand. Before you develop a rapport, make sure to take care of business.
