What Buyers Want: Six Types of Buyers Weigh-In

What do buyers want? This is a question that has been asked by marketers and business owners for centuries. The answer, of course, is different depending on the type of buyer, the product or service being offered and the type of purchase. 

In our fast-paced world, buyers are always looking for solutions to their biggest problems. There are six general types of buyers who can benefit from your knowledge, wisdom and solutions: consumers, businesses, governments, educational institutions, nonprofits and religious groups.

Take note that each of these buyers has very different needs, decision criteria and buying behaviors, however the common thread among the five types of buyers is that they all "want" something!  

Our job is to conduct customer research to clarify their wants, needs, and emotional and rational buying criteria. If you can (a) tailor your marketing and sales strategies accordingly and (b) give them what they're looking for, you'll be successful. 

In this blog post, we will explore the six types of buyers and provide some insights on what they want.

Consumers

By definition, consumers are the end users of products and services. Sometimes they act independently, other times they act within an organization (such as a household or small business). They want what's best for their own uses and needs. Their primary concerns involve price, quality, convenience, reliability and happiness -- in that order . 

Consumers want to find a product or service that can help them solve Health issues - obesity, disease, depression, physical challenge, etc., make more money - raise their standard of living and make life easier, have Peace of Mind - fear of going broke, fear of crime in neighborhood, fear of losing a loved one to a terrorist attack, fear of being a victim, have a fatal disease, etc., be entertained and look beautiful - e.g. improve the quality of their life through music, movies, books, other entertainment or useful hobbies that add to their quality of life, be happy and have successful relationships - attain the highest possible level of happiness with yourself and others around you, be socially significant - attention from others, even when you don't want it, i.e. in a positive way, feel important and noticed by others, have the latest technology - for their jobs, education and entertainment.

Businesses

For businesses, we can summarize what they want into seven main things: increase sales and profits, reduce and control costs, improve and innovate products and services, increase market share and customer satisfaction. When you think of it this way, the list above is pretty obvious -- if a business increases sales and profit while reducing costs then they'll improve their business and make more money, right?  

That's certainly what they want. If only it were that easy... 

How about this: Businesses want to improve productivity, reduce turnover and absenteeism rates, increase employee morale and retention. They also want to increase their number of satisfied customers and keep them coming back over time.

What else do businesses want? They want to improve their competitive position, increase market share and grow their customer base. If the previous five things were achieved then these three goals will be attained as well. 

Businesses also want to stay relevant to their customers and provide them with solutions that are right for now and into the future. This means being able to provide them with a product or service that they don't even know about.

Governments want to find a product or service that can help them do better with education, public safety and social security (i.e., crime prevention), improve the skills of their workforce, maintain national security.

Educational institutions want to offer new products and services that prepare students for success beyond the classroom, attract students to enroll - e.g., building or improving brand value through media sponsorships, licensing agreements, etc., increase the value of their brand - e.g., gaining media exposure through public speaking engagements, television appearances, etc.

Nonprofits want to find a product or service that can help them be more efficient in achieving their mission - e.g. finding the most effective staff/volunteers for jobs, finding the best strategy to accomplish their mission within budget constraints and within a specific timeframe, supplying materials for charitable causes.

Religious Groups

For religious groups, they want to increase the number of believers and convert people to their faith. They also want to attain a deeper understanding of life and become more enlightened in order to develop better relationships with their God(s) while living an ethical, moral lifestyle that others can look up to.

In addition, religious groups want their followers to have a personal relationship with God. They want members to know that they are not alone and that there is someone, or something, out there that will always be there for them regardless of the circumstance.

Although not every religious group agrees on how their followers should behave, the basic tenet of all major religions is similar: "Do unto others as you would have them do unto you."

All these groups above want to improve the quality of life for their customers as well as themselves.

The difference is that they approach it differently depending on their customer's needs, budget and what best suits them. This means that sometimes two different buyers might look at the same product or service and think very differently about it -- one buyer thinking that it'll help them and the other thinking that it won't.

Why? Because each buyer has their own unique set of wants (needs, fears, aspirations) as well as limited resources to make those wants a reality. That's how buyers think...in terms of what they want...and why you need to help them figure out what is relevant and what isn't.

That's a little about what buyers want. Those who take a one-size-fits-all approach will fail. How can we support you in crafting a sales and marketing strategy that aligns with the needs of your ideal client? Schedule a consultation today!