Mapping of the buying and selling process

The buying and selling processes are two sides of the same coin. When a customer buys a product or service, the buying process involves the steps they go through, but the selling process involves the steps a seller takes to sell their product or service successfully. Every organisation should map the sales process to understand how to approach the market to make the sale happen.?

1. Budget?

Buying process: The customer defines a budget that it will use to buy a given solution. They usually do this by looking at the available options and how they satisfy their need for a given product or solution. They may even compromise on features or quality when on a low budget. In such a scenario, products above the customer's paying capacity will struggle to get acceptance.?

Selling Process: The seller identifies the market segment and the potential customers who can buy the product. They consider the use of the solution and define the price at which it would like to make the sale happen. If their pricing is higher, they should either approach a higher market segment with more buying capacity or create a good storyline to support that extra cost that customers must incur. If your pricing strategy is not in sync with the customer’s capacity to pay, the product may never succeed.?

2. Acceptance of Solution?

Buying process: The customer will evaluate multiple solutions and try to reach a conclusion on the probable and most reasonable solution it can procure based on the requirement. They may like to use the product to see its suitability. They may talk to other users to verify if they are considering the right product.?

Selling Process: The seller should ensure that the product will work as expected when the customers independently verify it. Alternatively, the product demonstration should always happen in the seller's premises where someone can assist the customer. Customer testimonials should be available to win customer confidence. Look for the wow factor in your product or solution and ensure that it gets highlighted.?

3. Need?

Buying process: The customer evaluates the need for a product based on urgency. If the need does not seem strong, they can defer the purchase, which can be the reason for the delay in decision-making.?

Selling Process: The seller should identify and highlight the compelling reason for the customer to act and make the purchase. If the need does not exist, try creating one. One may have to highlight how things will improve after the procurement of the product or solution. Customers do not always know about the availability of products and how they can help. Hence, the sales teams have to help them understand. Someone would have explained the need for cutlery before people started using it.?Someone showed them value and sold the idea of using cutlery on the dinner table.

Timeline?

Buying process: Customers determine the timeline for acquiring a product based on their needs, budgets, and internal pressures. Many internal and external factors can impact this.

Selling Process: The seller needs to ensure a storyline to help the customer decide within the defined timeline. It should also help the customer understand what they can potentially lose if they do not decide now. Identify the influencers who can help the customer take a positive decision and work with them.?

It's important to note that the buying and selling processes are interconnected. Sellers must continuously adapt their strategies to align with customer needs and preferences, often creating a need that never existed. For example, until Apple came out with an iPhone without a physical keyboard, no one wanted something like that because they could not even imagine that something like that was possible and would be acceptable to the customers. iPhone created the need, and the rest is history. People do not always make decisions based on facts and figures. Hence, it is not necessary for the market leader to always win against an unknown product. One of the reasons people buy a product is because the decision maker likes the product, even when others may have a different opinion.?