Do you feel powerless to convert the right type of prospects into clients for your building company?
Maybe it’s because you are not fully leveraging the psychology of selling. And instead of embracing the 4 levers that swing a decision your way, you are focused on one component that only makes up 25% of the decision… price.
As a consequence you are trying to progress a potential client into a building contract without using the right tools. It’s like using a hammer instead of a nail gun when framing a home!
What if you could tap into the psychology of selling and use all four levers in your sales process?
This is known as ‘completing the square’. When you use this technique in your building company, you'll save time, money and become a construction specialist that is in demand, rather than just another builder that provides free quotes.
According to bestselling author James Muir, “Price only accounts for 25% of the decision to buy.” So while a lot of old school builders still believe that price is the #1 reason they are losing out on jobs, professional builders understand that price is just one of four factors that drive a buying decision.
So stop competing solely on price and start using the four levers that will encourage your prospect to move forward through your sales process.
The Four Levers Of A Builders Sale Process
One of the biggest myths in our industry is that being good at selling means being good at talking...or even listening. Truth is, selling is not about good conversation, it’s about what you say and how you say it.
Being likeable will only get you so far, you will need to compete in four areas of your prospects mind, in order for them to make the biggest purchasing decision of their life and sign on the dotted line. So don’t rely on your charming personality, instead, make sure you are using all 4 levers that “complete the square” and lead to a buying decision.
You’re probably already using the first trigger, which is “How will this save me money?” and trying to compete on price with your competition. That rarely works out well!
The other three are “How will this save me time?”, “How will this improve my emotional state?” and “How will this help me to avoid negative things?”.
Save Your Clients Time
Start by spending some time with your prospect explaining how building a new home with your company will actually save your prospect a lot of time.
Think of 3-6 valid reasons as to how you are currently saving your existing clients time, and then use the most applicable ones as part of your sales process when speaking to a new prospect. Maybe you build faster than your competitors. Maybe you experience less delays because you always pay your suppliers and subcontractors early. Or maybe you have an online communication portal that your clients can log into. All of these things will not change the contract price, but they will save your clients time, therefore they are powerful selling triggers.
“It’s not about having the right opportunities.
It’s about handling the opportunities right.”
- Mark Hunter
Tap Into Emotions
Next, focus on how building with your company will improve your client's emotional state.
We make purchases that increase our perceived status. Think about it, cars, clothes, jewellery... It’s not about price or we’d all be buying the same brand!
However, a house that has more bedrooms, or a swimming pool, or is in a better area than they currently live will improve your prospects social status. And when you build a reputation in your area for being ‘overbooked’ and you have a waiting list of potential clients; this will further improve your prospects status because they will be signing up with the #1 custom home builder in their local area.
So although there is no money or time to be saved here, this is still a very powerful and influential psychological trigger you can use as part of your sales and marketing process.
Psychology Of Selling Eliminates Negativity
And finally, in order to complete the square, the 4th way you can tap into the psychology of selling is by helping your prospect to avoid negative feelings. In other words, if you can show them how to avoid pain, it can be just as powerful as the other three sides of the square put together!
Powerful stuff, so use it wisely.
The best way to tap into this powerful emotional trigger is by focusing on the concerns that are currently being brought up by your existing prospects and addressing them. For instance, one of the concerns consumers have about residential home builders is that they are impossible to get in touch with once the contract has been signed. By addressing this fear and giving them a guarantee to back up your solution, you are placing yourself in pole position to win a contract without being the lowest price. For example, you could show them your online client portal, where all communication is tracked, and explain that you offer a guaranteed response within 1 working day.
If they are concerned about the job overrunning you could show them a job schedule that details how you will complete their home on time.
So what if you could tap into the psychology of selling and use all four levers that “complete the square” in your marketing process? Would it help you to save time, money and become a construction specialist that is in demand rather than just another builder that provides free quotes?
A lot of our builders said that moving a prospect forward into a contract was their #1 challenge... until they discovered the psychology behind marketing.
And that's why we are offering free marketing strategy sessions to new home builders.
When you start using the four levers that will encourage your prospect to move forward through your sales process, you will save time, money and become a construction specialist that is in demand rather than just another builder that provides free quotes.