Wesley Felt

At a certain stage in your sales process, your prospect realizes they have a need—ideally due to your exceptional selling skills. As you guide them from recognizing this need through analysis and finally to making a decision, what is on their mind? Consciously or subconsciously, buyers are always weighing the balance of performance, image, and price (PIP). These three factors are perceived differently by each individual, and perceptions can shift over time. In the current economy, it’s crucial to recognize that the relationship between these factors is undergoing significant changes. Marketing must adapt products and messages to align with these shifts, while sales teams need to adjust their presentations, ask new questions, and carefully consider the responses they receive.

 

So, what are these three principles, and how should they be managed?

 

Performance – For consumers, the concept of performance is evolving. Consider a consumer’s most significant purchase—a home. The idea that "bigger is better" is no longer valid. Consumers are less willing to endure long commutes in exchange for a large house. While the size of a family may change, the desire for a larger home has diminished. Business buyers are experiencing a similar shift. Product and service claims will be scrutinized more closely, and investments that don’t offer a quick return will be avoided. If you thought businesses were short-sighted before, expect this trend to intensify.

 

Image – Image remains important, but it’s constantly changing. For consumers, image is increasingly about what a product or service represents to them personally. A homebuyer might choose a smaller house closer to work, but they’ll still want it to reflect their lifestyle. Some images may even become anti-conspicuous. Businesses will also adjust their views on image.

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