Here’s Why Someone Will or Won’t Buy VR
Today's episode is like a natural continuation from last week really, where we were talking about the frustrations that we can sometimes have, when we're not making progress, we’re not getting sales, but in this week's episode, I want to flip the script and talk about sales psychology. Why might someone not be buying from you? I'm going to take you through the various different sales psychology things that you need to know when you are approaching a sales situation. I know a lot of you love sales. So it's gonna be a sales episode, also, just full disclosure, I just had the most British thing ever. I just had a cup of tea and a bit of toast and jam and I am buzzing so much from the sugar rush from the jam. I haven't had jam in so long. I feel like I've just done a shot of tequila. I'm genuinely on such a high right now, so just wanted to give you that little context up top.
Read on for the full transcription or listen to the podcast episode here:
Okay gang - sales psychology time. You've never heard someone so excited and buzzing to talk about sales psychology. So when I talk about sales psychology, what I actually mean is - I want to talk you through the buyers journey. It's sometimes also called the sales funnel although funnels don’t have a great reputation at the moment because of the whole click funnels situation in the entrepreneur land but stick with me. We're talking about the buyers journey, the sales funnel and all this is, is talking about the journey that someone has to go through. From someone that has absolutely no idea that they even had a problem, that something immersive could solve, to buying and being really happy with an immersive product such as virtual tour, 360, photos, videos, etc. That whole journey, there is basically psychology behind every single step of that journey and the quicker you can recognise where someone is on that journey, the better you can target them. That sounds manipulative, but the better you can understand where they are psychologically, means you can change the way you talk to them, which then will most likely land in more sales. So for example, let me just run you through the buyers journey. Here's how it goes…
Person number one one, someone doesn't know they have a problem, and doesn't know how to solve it and they definitely don't know that you're the one that can solve it. So that's person number one. Person number two, they know they've got a problem but they don't know what the solution is so they definitely don't know that you've got the solution. So let me just run that through again. So you've got the person who doesn't know they've got a problem and the person that does know they've got a problem, but don't know the solution, then you've got the person that knows they've got a problem. They know what the solution is but they don't know that you could deliver that solution. Then you've got the person that knows they've got a problem. They know the solution. They even know that you deliver that solution but they're not quite sure and they're not ready to buy that solution. Let me just go over that one again, because that is the one that most people get stuck with. This is kind of, the most likely person you're interacting with, especially if you're talking over email. This is the bit where people will, you know, rush to give discounts and things like that. So, that particular person on the buyers journey is a person that knows they've got a problem and they know what the solution is, they know you and they know that you have that solution but they're not quite sure whether you're right for them, or they're not quite sure it's the right time for them. They've got hesitation around pulling the trigger on working with you.
Then the last person is someone that knows they've got a problem. They know the solution. They know that you have the solution and they know that you are the best for that solution, you're going to deliver it at the right price at the right time, everything’s in place and they are ready to buy. So they do buy and they are happy with the product that you deliver.
Okay, that's the five steps that any single person goes through when they are on a buying journey. Think back to the last time you bought something… so let me think about the last time that I bought something…oh, literally this morning. This is going to be so nerdy, so this morning, I bought some chalk because I've gotten really into lifting some weights at home because you know, got to have that quarantine board and I needed some chalk because the weight kept slipping out of my hand. Where was I in that journey? Well, I'm actually at the very end of that journey because I've bought the chalk right but I was like, at first I didn't know I had a problem and when I did, I realised the problem was that the weight kept slipping out of my hand. It was really annoying and it meant I couldn't lift as much as I wanted to or I just kept feeling like I was gonna drop it on my foot and that's never a good place to be. So that was the problem. The problem was, the weight kept slipping up. I didn't know what the solution was. So I happened to reach out to a friend of mine who also does some weights and I was like - yo, I've got this problem, what do you do? And they suggested that I want to either get some gloves or get myself some chalk. So now I had two solutions, and I knew what the problem was. It's either a bit of chalk, or gloves. Luckily, my brother has weight gloves. So I was like, I'm gonna borrow his weight gloves and see if that's the solution that I need, because that would be ideal, right? So I tried the gloves and…nope, I hate the gloves. Can't feel the weight and I feel even more like I'm gonna drop it on my foot. Definitely don't want to be doing that. So, okay, I think chalks’s the one. So I know the problem and now I know the solution is chalk but now I don't know who's best to buy from. Because I don't know anyone whose advertising chalk to me. And so I go to my trusted marketplace, which is Amazon. So I trust Amazon I've bought from Amazon so many times, I love their customer service, I love that I can get it next day delivery. I know the solution is to buy some weight chalk and I know who I want to buy it from. I know that the best place for me personally to buy it from at this moment in time is Amazon because I know it's going to be the right price. I'm going to get it delivered in the right timeframe and I trust them because I've bought from them so many times before that I know that if something went wrong, or if I didn't like it, that I could return it, no fuss, super easy for someone like me who has very, very busy schedule. I don't want to be faffing with going back to a shop and I know, I know I should. There's loads to get into in terms of how this sales psychology impacts things like, you know, local buying and all that kind of stuff, but this is not that episode, we ain't gonna go down the moral high ground, we're talking about sales psychology. So I know the problem. I know the solution, I know whose best to deliver on that solution. And for me, it was three quid so it's the right time, I can get it tomorrow. It's the right time is the right price and I trust Amazon. So those three things are super important. So now I'm at the end of my sales kind of cycle and, and I haven't got the job yet, so I can't tell you whether or not I'm happy with the product. But if I'm happy with the product, then that completes the sales cycle and it also reinforces my trust in Amazon, it reinforces that kind of relationship, which is a very important part of the sales process. Because even when you get to the end of it, you're not finished because the point is to retain then, you know, the point is to retain that client, to keep on getting work with them, to even get referrals. So for me, obviously, if anyone asked me, and if they have the same problem, I could then tell them - oh, yeah, you want to get this chalk off Amazon, it’s a really good price. You know, that comes with a recommendation. I can’t believe I’ve made a whole analogy about chalk but you get it right? Going back to business, this means, your client then is more likely to refer you to other people. So think about that for yourself. Think about the last time that you went to buy something or maybe you're maybe you're in the middle of that buying cycle right now.
Okay, so this is another example nothing to do with work, but will illustrate the point. I'm also in the buying cycle at the moment with a new kitchen cabinet. I’m just really laying out my very exciting life for you all in this episode and so I'm in the middle of that sales cycle with a kitchen cabinet. Because I know that I've got a problem, which is that I don't have enough kitchen storage and I know the solution is to get a new kitchen cabinet but I'm in that little bit where I don’t really like the look of anything I've seen on Amazon.
I’m not overly keen on anything, I've seen one in IKEA that's quite nice, but it's out of stock. I don't really trust some of the other websites I've seen and I've not seen something at the right price. So I'm just kind of dwelling in that little bit of like It's not quite perfect. So let's translate that over to virtual reality virtual tours, 360 just general immersive business, because that sales psychology that I just explained about the kitchen cabinet is probably where most people get frustrated. And over there, you know, not landing sales or not converting people. So when you reach out to someone on email, the reason why I tell you to identify the problem that you're solving for them very quickly, is because then you can roll out number one, number two on that buying journey very, very quickly. So people that didn't know they had a problem, or did know they had a problem, but didn't know what the solution was, you've knocked them out in the first sentence of your email by saying something like - do you need to save more time and money on your internal training? You can do that with virtual reality, virtual reality is three times more likely to make your employees retain information during training. So all of a sudden, I've said…here’s your problem that you might not have even known you had, here's your problem, you need to save more time and money in your business. Here's the solution for that. I'm offering you the solution. It's virtual reality training. So there's the problem, there's the solution and now we're in that middle ground. So they're thinking - okay, I'm hooked, I'm interested. But who are you? You're a stranger to them at the moment. It's not like Amazon that has a big reputation, and you've probably bought from them before, so you trust them, etc, etc. And this is the first time potentially that they're hearing of you. So now you have to get them from needing to know why you're the best for them to work with you, to knowing that it's the right product, the right price, the right time. And this is usually the bit that you are struggling with or it's the bit where most people kind of get hung up and or get stuck in the buying process or the sales process. So within that, it's very important that you identify very quickly, which one of those is the problem? Is it that they don't trust you well enough yet? If so, that is really why you try and get them on a on a call after, if they reply to your email and say - yeah, really interested but how much do you cost? The worst thing you could do is reply with your prices, because they don't trust you yet. They don't trust you. So you need to get them on a call. So that you can be like, - well, you know, prices really vary, would love to jump on a call to hear a bit more about your business and then we can talk about price packages. So then when you get on the call, it's all about building rapport, It’s all about building that trust, it's all about establishing that relationship with that person so that they do trust you. And of course, they're going to want to see your portfolio and of course, having credentials and having worked with brands in a similar industry to them will help because it's all social proof. It's all going to help them and justify that yes you are the best person to work with on this. And that's all gonna help but you would be massively surprised how many times I have converted people that knew nothing about me. They've got no idea who I've worked with before but purely by getting on the phone, and just being a nice person and just asking them questions and actually offering genuine solutions to their problems and actually, you know, caring and actually saying - oh, actually, now that I'm hearing about the way that you're currently doing training? To be honest, I'm not sure whether at the moment right now, virtual reality is right for you but what you could do is, you could add a 360 video ad on to one of your current training systems to see what the engagement is? Maybe like a little test rather than going all out and putting loads of budget into something like this. Maybe that would be right for you?By doing this, I'm building trust because I'm being genuine, I'm being authentic. I'm actually offering value, I'm offering Insight. I'm not just trying to me, me, me, oh I've worked with all these big brands, I’ve been on all these lists and done a TEDx talk, like you need to work with me. That's the opposite of what you want to do, that is actually although it can be important to that kind of social proof to make to establish you as an expert, actually, you'd be really surprised how much you can do just purely from a conversation, and actually by giving a crap about their business and where they're at, and whether or not this will actually work for them. So once you've got past that hurdle, if that's not the problem, if they really like you, then it's about working out what is the problem? Is the problem that it's not the right price? Is it the problem, that it's not the right time? Because they've got a lot of other stuff going on? Or, you know, their budget for training kind of comes up in March? And so that would be more appropriate to like, follow up with them, then. Is it about the stakeholders? Maybe the person that signs off the budget hasn't been on the call? And so they are still early on in the sales psychology, or the buyers process? Maybe the person you’e spoken to…let says, Karen… so maybe you've convinced Karen, and she's really on board, and she's really excited but Susan, who is the one that's signing off the budget, she's like, step number one, she doesn't even realise there's a problem, because you've been convincing one person, but they now need to go convince the other person. There’s a load of different reasons why that could be happening in the background, or reasons why you're not getting to the next step. You need to be the right person with the right solution. This is the right price, and it's the right time. So let's do this, let's make this this virtual reality product or this virtual tour or this 360 video. And there's loads of different reasons. But it's important for you to identify that. And the way you identify that is by just genuinely being curious and asking questions. And very quickly, you'll be able to, if you listen, if you really listen, you will be able tell quite quickly, which one of those is a problem? Because if it is a price problem, then maybe you offer to doing a little tester, a little pilot, let's not do like the full scale, multi user branch narrative, mass roll VR training rollout, let's do a simple 360 video piece to camera that we roll out on one VR headset. How does that sound? You know, you just knock a zero off of that budget. Which from your point of view, yeah, not great, because you're not getting as much money, but actually amazing, because you're building more trust with them. Maybe, they do the pilot, you make sure it goes so well, because you're so invested in the success of it, that they go, this is amazing, we want to roll this out across our national chains, we want to go for that next budget. Then you skip the five grand project and now you're on the 50 grand project. Do you know what I mean? And that's how you then retain clients.
That's that last piece of the puzzle that I was talking about because it doesn't end when you've sold the product and you then have to deliver an amazing product and then the support you give, the care that you give will then influence not only if they do more work with you, but if they will recommend you for more work as well. So that was a really in depth, episode. I hope that was really helpful, though, because it's a very, very dense subject. But if I promise you if you can wrap your head around this, it will change your life forever. When someone taught this to me (I probably owe her a lot of money) it changed my life in every way. Because you literally can run anything through this filter, like relationship problems, you can run through the buyers journey. It sounds stupid, I know, but I promise you, it translates, so well. Think about it. Think about what you're going through right now, think about where you are in that sales cycle with something that you want to buy for the house or a problem that you're having. It’s honestly life changing.
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