Objective Management Group used to have a link that explained the concept of a non-supportive buy cycle. Apparently, they've moved the link and no longer want people to read a simple explanation. It's OK. I'm going to offer a different take.
Most people start to explain buy cycle by suggesting that the way you buy will affect how you sell. For example:
- If you have to 'think about it', you'll understand when your prospect wants to think about it.
- If you have to get three bids, you'll understand when your prospect wants to get three bids.
- If you have to shop every brand, every model, every option and every store, you'll understand when your prospect wants to do 'due diligence'.
- If you have to negotiate and will always buy the lowest price, you will need to discount.
and when you 'understand', you will emphathize and when you emphathize, you will struggle to sell.
Notice that most of this stuff is presented as an obstacle to closing a sale. I suggest that your buy cycle might be preventing you from getting shopped. In other words, your buy cycle might be keeping you from having that first conversation with a prospect that might begin to get them engaged.
As you might expect, this post is prompted by real life. Yesterday, somebody wrote this,
"I found your org through a hubspot article as I know I need a sales coach versus just sales training. I've been teaching myself sales but too uncoordinated etc. However in the same article Mr. Roberge's rates were also shared, which is beyond my capacity."
This person won't not engage because their money weakness and their self-limiting beliefs are affecting their shop cycle and consequently their buy cycle.
The natural question would be, "Why look at a solution that you can't afford?"
- Maybe financing is available?
- Maybe they take credit cards?
- Maybe there are government scholarships?
- Maybe somebody is offering tuition reimbursement?
Insert sound effect. Loud buzzer. Wrong answers.
If you offer any of those answers to somebody who thinks your price is out of their reach, you are dead and if you approach someone that's filled out a form to get some free stuff and seen a price and you ask them the wrong question, you are dead. The answer is don't talk about your solution. Don't talk about their problem. Talk about something else.
Here's the problem. If you have the combination of self-limiting beliefs and misconception about money that affects your buy/shop cycle, you won't be able to do it. Period. Fix yourself. Fix your prospects. Fix your head. Fix your wallet. It's simple. Not easy, but simple.