Episode 193 - Why People Buy: Understanding the 5 Buying Currencies

Visit http://JohnBlakeAudio.com to Learn How to DOUBLE Your Enquiry-to-Sale Conversion with The Lead Flow You Already Have. People don't just invest money when buying your product. They invest time, identity, energy, and reputation too. Ignore this at your peril.  In episode 193, I explain why with an example. A Registered Training Organisation sells £6,000 courses, with most fees covered by government funding. Students pay little upfront, yet 50% drop out. Why?  The sales pitch takes 2-3 minutes. People enroll on a whim, not fully grasping the commitment. The RTO never engaged the other 4 "buying currencies" beyond the low cash price.  When you make a purchase, you invest 5 currencies, not just money:  Time – Willingness to spend hours learning, integrating, etc.  Identity – How owning this alters your self-image.  Energy – Motivation and effort in utilising the product.  Reputation – How this shapes what others think about you.  Money – The actual cash exchanged.  For the RTO, students invest little money so the sales pitch ignores the other currencies. However, completing the course takes real time, energy, and motivation. Dropping out suggests students lacked the willpower and habits needed to follow through.  The pitch should have asked questions about willingness to invest 10 hours weekly. It should have explored how having this professional qualification will change students' identity and reputation.  When people visualise themselves investing in these currencies, they feel accountability. An engaged client becomes a motivated client.  Whether selling marketing services, websites, or training, applying this model creates loyal customers. They fulfill requests quickly, complete courses, and value what you provide.  So don't assume money is the only buying currency. Listen to this episode and dig deeper to really engage with your clients, considering the time, identity, energy, and reputation that's been put into a purchase. To DOUBLE your lead-to-sale CONVERSION with the leads you already have, go to http://JohnBlakeAudio.com for his exclusive, free, no-fluff, audio training and companion PDF guide. Inside you'll get word-for-word email follow-up templates, phone scripts, and more that you can put to use today.