Buying behavior is the key to increasing your effectiveness. The biggest mistake made in sales and marketing is communicating based on what is important to you instead of what is important to your leads, prospects and customers. Your messaging may not convert up to 75% of the people you pitch. B.A.N.K. gives you the power to understand your customers’ buying behavior and move them to open your emails, click through to your landing pages or accept your offer.
After being introduced to B.A.N.K., I remember experiencing several “aha” moments thinking back on prospects I didn’t close during my sales career. And, now I know Why They Buy. B.A.N.K. teaches you how to understand your prospect’s buying behavior and modify your approach whether you are having a face-to-face sales conversation, crafting the right proposal, sending follow up emails, developing a sales presentation or creating a marketing campaign.
What Is B.A.N.K.?
B.A.N.K. is comprised of four personality codes, Blueprint, Action, Nurturing and Knowledge, which influence buying behaviors . Each personality has a set of values that make us unique. These values make you more receptive to certain approaches, communication styles and decision outcomes.
Most personality systems are based in psychology and focus on you. B.A.N.K. focuses on your prospect or customer and categorizes people according to how they buy. B.A.N.K. is the only methodology scientifically validated to predict buying behavior in less than 90 seconds and is making a significant impact in sales and marketing. B.A.N.K. was developed by Cheri Tree, best selling author of Why They Buy,
B.A.N.K. and Buying Behavior
In order to adapt your sales and marketing approach, it is important to understand your prospect’s full B.A.N.K. Code, as we are a combination of all four personality types. B.A.N.K. teaches you how to have a different conversation based on what is important to each buyer.
Most marketing content speaks to one, maybe two buyer types which is great if you know which personalities you are trying to attract. For example, a nurturing person may develop content from a more relationship point of view which may not connect with other buyers. B.A.N.K. helps you determine who your buyer is and write more targeted messages to get a “yes.”
Let’s take a brief look at each of the four B.A.N.K. Codes or personalities. There are actually over 300 values, motivations, clues, likes, dislikes and personal characteristics that affect buying behavior.
Who Is A Blueprint (B)?
Blueprint personalities are totally “inside the box,” which keeps them in their comfort zone. Their key motivation is feeling safe and protected, so anything that feels risky will likely lose a sale. Blueprints are conservative and punctual. When working with them, be on time, prepared and follow through with what you say you will do. Blueprints love details and are great organizers and planners. They value proven systems that deliver results.
Blueprint Core Values:
Who Is An Action (A)?
Action personalities are the total opposite of the Blueprint. They are not afraid to take risks. They value fun, freedom and flexibility. Their key motivation is to be the best, to win. One of the values that sets Action people apart from the other personalities is they are high-performance individuals and take massive action to achieve results. They want to get to the bottom line quickly.
Action Core Values:
Who Is A Nurturing (N)?
Nurturing personalities value relationships and meaningful connections above all else. They are some of the nicest people you will ever meet and have happy, friendly faces. In order to do business with them, be authentic, get to know them on a deeper level, build trust and learn to speak their language. Nurturers make decisions based on intuition and with their heart. Show them you care about what is in their best interest.
Nurturing Core Values:
- Personal Growth
Who Is A Knowledge (K)?
Knowledge personalities are smart, serious, logical and innovative problem solvers. They need a lot more information than other personality types and want to know they are making the best decision at the best value. K’s are motivated by being right and don’t want to make a wrong decision. They love to have conversations with other experts. When selling to them, be credible, logical in your approach and don’t try to rush them to make a decision. Generally, a Knowledge personality will sell themselves after doing their research and due diligence. Look for ways you can help them move forward at their own pace in the decision-making process.
Knowledge Core Values:
- Research and Development
- Universal Truths
- The Big Picture
As you can see, the four B.A.N.K. Codes make their buying decisions very differently. So you need to adapt your sales and marketing approach for each of them.
Apply B.A.N.K. in Sales & Marketing
During one of my recent B.A.N.K. training courses, a sales person with over 20 years of experience realized she was only effective selling to 50% of the people she meets with. She now knows which personalities she is is not successful selling to and how to adapt her sales approach, marketing messages and the products she recommends based on their code.
The first step is to determine the B.A.N.K. Codes of your buyer. It is important to sell to the first two codes and avoid their last two, which could lose the deal. In my experience meeting with prospects, I find most people go back and forth in their first two codes. Your goal is to sell to the code that is present in your meeting. They may start out in their first code then shift into their second code or vice versa. For example, I had a meeting with a Nurturing, Knowledge personality type. I started the meeting in a nurturing way, using a friendly conversational approach, spending a lot more time getting to know the prospect and building a genuine connection. I noticed his shift into the Knowledge code. So it was important that I make this shift as well. A Knowledge person likes to work with an expert in their subject matter, learn something new and get in-depth information. So, the second half of the meeting was spent discussing their current challenges, sales best practices, strategy and how I would approach working with them. When creating a proposal or sending follow up emails, it is important to stay in the first two codes also.
Developing content specifically for the Blueprint, Action, Nurturing and Knowledge personalities results in more opens, downloads, conversations and clients. I recently sent a marketing campaign to Nurturing personalities. The campaign used a more personal approach and focused on authentic sales conversations and improving the team. I had over 50% opens, 6% click through rate, 23 downloads and two new clients that resulted from the campaign.
Your sales team closes at a rate of 25-30% and communicates very well with prospects who are similar to them. B.A.N.K. training teaches them how to identify their buyers and adapt their sales approach resulting in higher closing rates and shorter sales cycles.
An in-store sales person can quickly identify the buyer through visual and verbal clues, take the right approach and offer products based on buyer type.
Your marketing campaigns have low conversions. The sales team is not getting qualified leads. B.A.N.K. improves marketing messages, resources and campaigns to speak the language of your customers resulting in higher opens, conversions and sales opportunities.
Your call center reps have low closing rates and low talk times using the same script. They only have 30-60 seconds to determine the caller and approach. B.A.N.K. teaches you how to quickly identify your prospective buyer, adapt the sales conversation, make an appealing offer and use a close that is effective with that personality type.
Your internal teams do not work well together. Engagement and morale are low. B.A.N.K. focuses on the “other” person. Our communication course teaches employees how to understand and appreciate their differences, get along better and speak the language of their teammates. Results are increased engagement, morale, and productivity.
Leverage the Power of B.A.N.K. to Increase Your Results
B.A.N.K. gives salespeople a competitive edge to increase revenue and decrease sales cycles.
B.A.N.K. helps marketers create more impactful campaigns, brochures, websites and content.
Bottom line…Understanding buying behavior will improve communication and increase sales.