Why Do Customers Buy?

Why Do Customers Buy?

How much time do you spend thinking about this? I mean really studying customers and trying to figure out why they buy in general and why they buy from you? What makes a customer choose one product or supplier over another? What drives that decision?

I have found that we often spend so much time focused on our own products, our own services, our own pitch that we lose sight of what is more important to focus on: the customers. They are the ones buying, they are the ones making the decisions and they in the end are the ones whose opinion really matters.

With that in mind here are some of the more obvious drivers to why a customer will choose one product, service, company over another:

1. Quality: Customers all want good quality products. They say they want the highest quality products. But do they really? This is a tricky one because in the end they also have to consider price.
2. Price: Competitive pricing is a key element in the customer’s decision. Sometimes it is the only factor that matters. But be careful not to consider price and value the same thing. A conscientious customer will always be looking for the best overall value. That is the customer that you want. Dealing with a customer who only cares about price is a losing proposition. That customer is not doing you any favors and in the end not doing himself any favors either.
3. Customer service: This is extremely important and should be filed under ease of doing business. If your customer service team is comparable to the Nordstrom ideals of customer service you’re in good shape. You’ll do fine. If, on the other hand, they went to the department of motor vehicles school of customer service, sooner or later you are going to have a problem. Customers like to do business with pleasant people who make it as easy as possible to work with.
4. Problem solving: Many strong and long-lasting customer relationships were forged when problems occurred and together the supplier and the customer solved those problems. Make no mistake, the way you solve problems is a great indicator of the kind of supplier you are to work with.
5. Trustworthiness: People want to deal with people they can trust. There is no place in business to have to second guess whether or not your supplier (or your customer as well) is telling the truth. The more earnest, honest, authentic, and believable you are, the more excellent relationships you will have with your customers. You will create a strong and lasting bond with your customers.
6. Recommendations: This one is very important. There is nothing better than receiving a recommendation or referral from a satisfied customer. A customer who is so happy with you, that she is willing to tell other people about you. This is a good thing and goes a long way when a company is making a decision about working with you.
7. Brand reputation: If you want to get a sense of how this works you need look no further than Apple. There is a reason that people line up overnight to get the newest version of their phones or computers. That is what we call brand reputation at its best. A company with a good brand reputation is one that it seems like everyone wants to work with. What is your company’s brand reputation? What do people know about you? What do they think about you and your company? This is something well worth working on.
8. Unique Features: What do you do that other companies don’t do? What makes you stand out? If you are doing something that no one else does. Or something better than anyone else you will be in a great position. BUT! Do not take advantage of this position. All too often companies that offer something that no one else does, will get cocky or arrogant. This in the end will hurt them. This attitude will turn customers off and send them running down the road to find another solution.? Be careful of that. All customers are important, and all customers hate being taken advantage of.
9. Emotional connection: The question to ask (and the one that most companies overlook) is why do customers buy from them? And often it is the way your product or service makes them feel. Think about it. Why do people spend what we might think is too much money on a BMW or Jaguar, or worse yet, a Bentley? It’s because it is the way it makes them feel. Why do people drink Coors Lite instead of Miller Lite? Because it is the way it makes them feel to be in the “Coor’s club” rather than the “Miller club”. Don’t overlook the way you make your customers feel. That can be the most veritable reason that people buy from you.

One final thought. Customer preferences can change, so it is essential to continually adapt your strategies to meet their evolving expectations and requirements. Building and maintaining strong customer relationships is always key long-term business success. It’s only common sense.

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