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Why people spend money on your product/service, and why not.

 

With businesses popping up everywhere it becomes more difficult, day by day, to get, and retain new clients. I can not give you a solution to this problem but, I can share with you my experience and what I see happening in other businesses.

“We buy for emotional reasons. It might not just be that we are emotional about the product we want to buy, but we have emotions towards the buying process.”

The fact that it is so easy for anyone to start a company means that your competition is getting bigger. This causes very competitive prices, and a result of that is smaller profit margins for you. Getting around this can be tricky because you do not want to drop your prices so far that you go bankrupt, but you also do not want to scare away customers with high prices. How do you approach this?

An interesting thing about a potential buyer is that they will always shop around for the lowest price. But for some reason, a lot of people opt for the best quality and not the lowest price. This tells me that even though we want the “cheapest”, we can always be convinced for the “best.” That can work to your advantage.

The “best” does not necessarily mean the best product. In this case, it means the best service.

I’ve found that if I get excellent service from someone, I would instead buy their more expensive product than purchasing the same item from a rude, unfriendly person. This now circles back to what I touched on in an earlier article, emotions.

We buy for emotional reasons. It might not just be that we are emotional about the product we want to buy, but we have emotions towards the buying process.

I guess by now you figured out where I’m going with this: Be nice.
Customers, especially new ones, do appreciate friendliness. Even though you might be going through a bad time does not mean you should not be friendly and kind towards your customers.

What will get someone to buy your product or service instead of your competitors’ even though you are more expensive?
In my opinion:
1. Make an Emotional connection to your prospect. They need to feel happy about where they are and the decisions they are about to make.
2. Give immaculate service. Know your product like you were the designer and developer. Remember that your prospect does not necessarily know your product so educate them on why they need it.
3. Make your prospect feel like he is the only one. We all know that we are not, but we would like to think so. Be mindful about distractions when you are dealing with your prospect/client. They want your full attention, and you need to give it if you’re going to make the sale.

“The “best” does not necessarily mean the best product. In this case, it means the best service.”

Having better, faster and friendlier service than your competitors, I think, will put you in the “I want to just deal with you” category. As soon as you can achieve that, your business will explode just by word of mouth and referrals.

I would love to hear your opinion on this. Get in touch with me or leave a comment.

In the next Blog:
If someone does not trust in your brand, they will not support you. Next time we will be looking at how to get people to believe in your product or service so that they can get to the point of “shopping without thinking.”

Why people spend money on your product/service, and why not.

With businesses popping up everywhere it becomes more difficult, day by day, to get, and retain new clients. I can not give you a solution to this problem but, I can share with you my experience and what I see happening in other businesses.

“We buy for emotional reasons. It might not just be that we are emotional about the product we want to buy, but we have emotions towards the buying process.”

The fact that it is so easy for anyone to start a company means that your competition is getting bigger. This causes very competitive prices, and a result of that is smaller profit margins for you. Getting around this can be tricky because you do not want to drop your prices so far that you go bankrupt, but you also do not want to scare away customers with high prices. How do you approach this?

An interesting thing about a potential buyer is that they will always shop around for the lowest price. But for some reason, a lot of people opt for the best quality and not the lowest price. This tells me that even though we want the “cheapest”, we can always be convinced for the “best.” That can work to your advantage.

The “best” does not necessarily mean the best product. In this case, it means the best service.

I’ve found that if I get excellent service from someone, I would instead buy their more expensive product than purchasing the same item from a rude, unfriendly person. This now circles back to what I touched on in an earlier article, emotions.

We buy for emotional reasons. It might not just be that we are emotional about the product we want to buy, but we have emotions towards the buying process.

I guess by now you figured out where I’m going with this: Be nice.
Customers, especially new ones, do appreciate friendliness. Even though you might be going through a bad time does not mean you should not be friendly and kind towards your customers.

What will get someone to buy your product or service instead of your competitors’ even though you are more expensive?
In my opinion:
1. Make an Emotional connection to your prospect. They need to feel happy about where they are and the decisions they are about to make.
2. Give immaculate service. Know your product like you were the designer and developer. Remember that your prospect does not necessarily know your product so educate them on why they need it.
3. Make your prospect feel like he is the only one. We all know that we are not, but we would like to think so. Be mindful about distractions when you are dealing with your prospect/client. They want your full attention, and you need to give it if you’re going to make the sale.

“The “best” does not necessarily mean the best product. In this case, it means the best service.”

Having better, faster and friendlier service than your competitors, I think, will put you in the “I want to just deal with you” category. As soon as you can achieve that, your business will explode just by word of mouth and referrals.

I would love to hear your opinion on this. Get in touch with me or leave a comment.

In the next Blog:
If someone does not trust in your brand, they will not support you. Next time we will be looking at how to get people to believe in your product or service so that they can get to the point of “shopping without thinking.”