The 6 Types of Buyers and How to Convert Them

Do you know the kind of buyer you’re dealing with?

Whether you’re in B2B or B2C, you will most likely encounter different types of customers. Why do you need to know these different kinds of buyers? Because to better service a customer, you need to understand their behaviors and their needs.

Depending on your business, you may encounter fewer or more kinds of buyers. But we’ve rounded up these six common ones.

Six Kinds of Buyers You Will Encounter

1. Loyal Buyer

Your ideal buyer, the loyal buyer is the most important segment of the buying market. You don’t always get loyal customers but when you do, they create a great impact on your revenue. Studies show that 80 percent of your future profits will come from just 20 percent of your existing customers and that 65 percent of a company’s business comes from existing customers.

How to Convert Them: These buyers are already converted. The important thing is to keep them loyal to your product/service. Make sure customer service and post-sales support are always on point. You can also try to upsell and cross-sell provided everything you sell remains relevant to their business. You also want them to become a brand advocate, recommending your product/service to other people.

Invest time and energy in them and maintain an engaged relationship with them. Make them feel valued. Get their feedback and involve them in your organization’s decision-making. Update them on developments. Make them feel like they’ve become an integral part of the company.  

Loyal buyers are good for your portfolio so take very good care of them. They also make for great case studies. How they were converted to buyers should be properly documented and shared with the sales team so that the process can be replicated for all buyers.

2. Bargain Buyer

These are the buyers always asking for a discount, a “special price,” and add-ons. They will never settle for full price. They’re great for when there’s a need for clearing inventory but are rarely loyal. They will go where the discount or good price is. Upselling won’t work for them.

How to Convert Them: It’s quite easy to convert bargain hunters because you know exactly what they are looking for. Explain the value he is getting in detail and then offer the add-on: the additional value or the discount. Just make sure the company is in a position to offer these add-ons.

This buyer is not necessarily shopping for a need or a bargain. He’s a spontaneous buyer and purchases when he fancies provided the conditions are right and the product/service meets what he believes he needs or wants at the time.

How to Convert Them: They do not need much convincing if they’re in the mood to buy at the moment, but do explain all features and values concisely and quickly. If they are shopping online, this is where your easy checkout process comes in handy. Avoid distractions and unnecessary steps: you don’t want to lose their “mood.” They will listen to recommendations, which make them perfect candidates for upselling or cross-selling. They can also make for loyal customers so make sure that they are efficiently and diligently serviced post-sale.

The opposite of the impulse buyer, this buyer is looking for a product or service that answers a very specific need. They go online, make a purchase, and exit. They may contact you, ask for a presentation, and decide quickly (but not without viewing other viable options).

How to Convert Them: They are not the easiest to convert: they know exactly what they need and, as mentioned, will seek out all options available. Salespeople should have a sense of urgency when dealing with these buyers. Personal interactions are encouraged and they need to be as thorough yet concise when talking to them. Show them a lot of successful case studies and positive testimonials and reviews. You may also want to consider sweetening the deal for these buyers. Finding a solution for their need AND getting valuable add-ons would be difficult for them to resist.

This buyer is what you will encounter most times. He probably visited your site, filled up a form, signed up to your newsletter, or submitted an inquiry. He’s not particularly driven by anything—need, discount, etc.—but he is open to the idea of purchasing.

How to Convert Them: Lead nurturing will be critical in converting them into customers. Highlight the values, solutions, and benefits you are offering them. Personalization is also key and make sure that everything you present to them is relevant to them and their business. Show them positive social proof as well.

This is your newly converted buyer. After a successful sales process, he’s onboard. The next strategy should be to keep him loyal to your business.

How to Convert Them: You want to convert them (and really, all other kinds of buyers) to loyal buyers. Don’t let go of the new buyer a soon as he’s made the purchase. What you do post-sale will make all the difference. Again, make sure customer service and post-sales support are always on point. Consider upselling after (and not during) the first purchase and, hopefully, a favorable post-sale experience.

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