Understanding Different Buying Personalities Will Help Close More Sales
The “BANK” acronym profiles the four main types of buyers
Have you ever wondered why you close some sales and not others? The ability to close a sale has never been more important; however, most companies train their people on how to sell when the only thing that truly matters is why customers buy.
Contractors have a unique set of challenges when it comes to closing sales. What works with one homeowner doesn’t work with another. Homeowners are taught to get three quotes. Many times you have a couple at the kitchen table — one has their foot on the gas pedal, the other on the brakes. They want to think about things, and you circle back but sometimes get no answer at all.
What happened? The statistics are shocking. According to salesforce.com, over 87% of customer said they felt the salesperson came unprepared to the meeting and 66% were actually turned off by the presentation.
Everyone has a unique “bankcode” that defines their personality type and what they value. We present and explain things in a way that makes sense to us, but our message often misses the mark with the prospect.
The B.A.N.K. methodology reveals the values that are driving their buying behavior. It will reveal the triggers that lead to a yes and also the tripwires (what turns them off) that lead to a no. Once you crack their personality code you unlock the ability to communicate with them much more effectively and effectively.
Learn to speak the language of your prospect.
Your customers are telling you who they are in countless ways; however, the untrained eye and untrained ear will miss the signals. Every person has a personality code called a bankcode. B.A.N.K. is an acronym that stands for each of the personality types: Blueprint, Action, Nurture, and Knowledge.
Blueprint
This person is methodical, traditional, planner, and is about processes and order. May come across as more reserved or cool in demeanor. They are skeptical in nature and are also very precise. This is your value buyer.
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Action
You’ll recognize the Action personality as they are high energy, action oriented, and goal oriented. They are competitive in nature, and they tend to like the finer things in life and VIP treatment. You may need to pick up the pace in this sales process and get to the point quickly. Trust that they will ask you for more information if they want it. They like to compete, like to win, and like to have fun. They are most likely will make a decision quicker and also may also spend more money than other personality types.
Nurture
This personality values authenticity and is relationship driven. They need to connect with you and feel that you are real and that you put people before profits. Some of their values are trust, harmony, teams, ethics, and community. Don’t miss the clues they give you; their decisions are often made from intuition. These people tend to have large networks, and it’s important to point out that they have relationship currency. Treat them right and they tell everyone they know and will want to help you by writing good reviews and provide good referrals.
Knowledge
Logic rules the day with the Knowledge personality. If it doesn’t make sense to them they won’t buy. This may be your longest selling cycle, so allow them to sell themselves and provide them with data like case studies, white papers, and consumer reports. They value learning, so come prepared to provide intel, support your data, back up your claims with sources, and don’t forget the big picture view as was the granular approach. You’ve won them over when you get to the point where it’s a no-brainer. Be patient and stay the course.
A one-size-fits-all sales presentation only works some of the time. If you want to make more money and have more success, you need to learn how to deliver the right message to the right person.
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