Discover psychographic profiling:
- What it is.
- Why it works.
- Will do for you.
- Clients say about it.
What is it?
Psychographic profiles identify the behaviors, values and characteristics of your ideal customers, the ones who value what you have to offer enough to pay a premium to get it. It’s where your and your clients’ values align that both of you enjoy your greatest success. It’s also the foundation for the long-term relationships that dramatically increase your customers’ lifetime value.
Why does it work?
Imagine that you’re a Mercedes buyer and you’re approached by a BMW salesperson. What’s the likelihood that you’ll buy a BMW from that person? If you normally shop at Macy’s for clothing, what’s the likelihood that you’ll go to Walmart for a sweater?
Years before I discovered psychographic profiling I was selling a leadership program. Despite verifiable results like having cut 16,000 hour out of a 40,000 hour budget while improving morale and having a client who had cut her billing cycle from 3 weeks to 2 days without adding any resources, working overtime or revamping their computer system, I was getting rejection after rejection.
I couldn’t help but wonder “Who wouldn’t want results like these?” When I got serious about answering that question I discovered that there are three types of leaders.
- Autocrats who view their employees as automatons; they key in their instructions, flip a switch and employees better perform according to those instructions.
- Paternalists who feel a moral responsibility to provide employment to people who aren’t the best and brightest; paternalists don’t expect much of their employees.
- Collaborative leaders who engage their employees in identifying new opportunities, solving problems and streamlining processes.
My program was designed for the last group, the collaborative managers. The other two types weren’t going to buy from me because my program didn’t fit their leadership styles. It didn’t matter how impressive my results were.
Knowing what values, behaviors and characteristics drive your and your most successful customers’ success helps you qualify prospects more quickly, typically in 5 minutes or less, which also improves your close rate.
What will it do for me?
As a salesperson, psychographic profiling will help you:
- Avoid wasting time with people who will never buy from you.
- Avoid doing proposals that’ll never produce business.
- Avoid the energy drain and dings to your confidence that rejections produce.
- Stop wondering ‘What could I have done differently? Said differently? How do I get back in the door?’ when the reality is that it just wasn’t a good fit.
- Qualify prospects in as few as 1 to 3 questions.
- Recognize a poor fit quickly enabling you to devote your energy to finding a good fit.
- Improve your close rate because you’re spending time with well-qualified candidates.
- Enjoy greater income with less effort.
- Have more time to enjoy your other life interests.
As a business owner, you enjoy even more benefits. In addition to the sales force effectiveness outlined above, you’ll gain:
- Premium prices regardless of what your competitors or the economy are doing.
- Longer-term relationships with your customers reducing your marketing costs.
- A greater return on the marketing dollars you spend because you’re attracting customers who value what you offer.
- Greater lifetime value from each customer.
- Greater employee productivity and retention because you’re hiring employees who share your values.
- Better supply change results when you use your profile to choose the right vendor partners for your company.
What clients say.
- Who my ideal customer is.
- What it is they value.
- And how much they value it.
gives me the confidence I need to get higher prices. – Every client that has employed psychographic profiling.
My clients are making more money with less effort than they did previously. They’re also turning away business that doesn’t make sense for them. The confidence they exude and the knowledge they have of their value enables them to get premium prices and “have more fun doing business than I’ve had in years.”
Are you ready to sell more, more quickly, with less effort and at premium prices? Give me a call at 314-707-3771 and, together, we’ll make that happen.