Why aren’t Your Buyers Buying?
It’s a jungle out there. There are competitors everywhere. The Good, the Bad & the Ugly. You know what I mean? It is the survival of the fittest. And many survive by slashing their prices. Did you know that price is one of the last considerations in the buying process?
Surveys over the years have shown the top five reasons someone buys, are:
4. Selection or range of offers
3. The level of service that’s provided
2. Quality of the product or service
1. Confidence that your product or service will meet their needs.
Price is number 5. Just knowing this creates a massive advantage for any business. The top reason is that they believe that you can deliver a solution for them, that it will take away whatever the pain is that they are currently feeling and produce the pleasure they are seeking.
In this context, the way that price works is that the buyer believes they are taking the minimum financial risk with the cheapest price, either because they already know what they will get (which is the case with a commodity purchase) or because they still don’t have confidence it will work, but at least they are not spending a lot of money on something that might fail to meet their expectations.
If you could increase the buyers’ confidence of satisfaction, don’t you believe that they will be prepared to pay more for that?
What are you doing to increase the confidence for your buyers?
May Your Business Be – As You Plan It.
Dr Greg Chapman – The Profit Whisperer
Learn more about how these marketing strategies would work in your business when you request a Free Preview copy of the best selling Small Business book; The Five Pillars of Guaranteed Business Success
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