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“A budget tells us what we can’t afford, but it doesn’t keep us from buying it.” – William Feather
People make purchases and decisions based on different reasons with one thing in common – emotions. In today’s episode, I wanted to talk about what motivates people to buy from you. People wonder why people do not buy from them at first encounter. There are two main reasons: they need to know, like, and trust you and that can take 5-12 touches (times of contact – email, phone, in-person, and they need to know how what you sell will benefit them. Your product may have all the bells and whistles but if it does not have what someone needs, it is meaningless. Think about the advertising and marketing that you see online, in magazines, commercials, or billboards – they are selling the feeling. A feeling that they hope you will have when you experience their product or service.
Let’s turn the radio dial or tunes to WIIIFM. What is in it for me? Now that’s where you need to be targeting your marketing to. People want to what is in it for them – bottom-line. There is an emotional need that goes deeper than what it does.
Here are reasons that motivate people to buy:
Basic Needs: We are driven to fulfill basic needs for survival – food, water, shelter,
Testimonials, endorsements, and referrals. Word of mouth marketing is one of the most powerful methods that influences purchasing. When someone provides social proof, or refers you to others based on their experience with you, you have earn credibility without even meeting the person. The belief is that if you worked with them and you did a great job, why would I look for anyone else if they were satisfied with the work.
Fads and Trends. People buy the latest and greatest items because they need to have it, because everyone else has it.
Self-Expression. Some people buy certain items or alter their look to express themselves. They may colour their blue because it is their favorite colour. They may wear two different socks just because they want to.
Convenience. Some people buy items because they are readily available even though they may find it cheaper 5 kilometers or miles away.
Core Values. If you have alignment with someone with similar core values, you may feel more compelled to do business with them.
Scarcity. People make purchases when they are a rare find like an antique or collectible.
Prestige. People buy things because it makes them appear wealthy or of high class.
Emotional Vacuum. Sometimes people will buy things to replace things they cannot have and never will.
Loyalty to the Brand. Some people will continue to buy from people or places because they love the product, service, or person because they are loyal to the brand – it has served them well.
Replacements or Stay Current. Overtime, things may get old or damaged and will need replacing. Stay current can keep you up to date what is the latest and greatest ideas or gadgets.
Peer Pressure. You may be pressured by family, friends, or colleagues to buy something that they have. For instance, if your friend had a camping trailer they may encourage you to get a camping trailer so you may go camping together.
Standard Purchase. A standard purchase is an expected purchase such as books for a course. Everyone who is enrolled in the course needs to buy it.
Guilt. Some people will buy things because they feel guilty for not being present so they may purchase something to substitute for their not being present or a offer of forgiveness.
Help Others Out. People sometimes feel compelled to make a purchase to help people out. A great example of this is fundraising. People want to help out.
Indulge. Sometimes we just want to treat ourselves with something as a reward or celebrate a milestone or special occasion. It can be as simple as purchasing some chocolate or renting a fancy sports car.
Fear. Yes, some people making their buying decisions based on fear. The fear of missing out – sense of urgency – limited. The fear that if they do not make the purchase they will not achieve their goals.
EGO Stroking. Some people fall into the trap that if someone compliments or boosts their ego about how the product or service with make them better than everyone else – they may be compelled to buy.
Great Value. For the most part, I hope we buy for great value – that it makes a difference.
Lower Price. People who are money conscious may buy a certain product because it is a lower price, discounted, or a great deal.
Security. People buy items to feel safe. Examples include: Emergency kits, booster cables, and even weapons.
Save Time or Money or Make Money. There often is not enough time or enough money flowing in. If people can find ways to become more effective and efficient with their money and time, they will pay money for it.
Story to Tell. Some people look at paying for a 5K race at $45 and think that is insane. They think that they can run 5K and they do not even have to pay for it. People don’t pay for a race for the sake of paying for it. There is a story to tell once they have reached it.
To Gain Knowledge. People buy information to gain knowledge, develop skills and abilities.
To Be Healthy. One of the hottest motivators is health. People realize you cannot be happy without health. Many people will purchase vitamins, gym memberships, and home exercise equipment for the sake of being healthy.
To Look Good. People want to look more attractive and will often purchase anti-aging products or outfits for the need to look good
The Experience. People associate the feeling they have with an experience. Great one for creating memories.
Make the world a better place. People will often make purchases if the proceeds are going toward improving the world in some way.
What can you see behind your buy? Why do you make the purchases you do? Chances are…you have many reasons based on the circumstance or situation. When you start to understand the reasons, you are better able evaluate what need you are fulfilling and why.
“Actions speak louder than words. There is a big difference between what people say and what they do. People might tell you they are excited about your new product, but when they are in a buying situation their behaviour might be totally different.” Alexander Osterwalder
We would love to have you subscribe to the Success Secrets newsletter on my website at www.debrakasowski.com where you’re going to get us free MP3 download 10 Surefire Strategies to Power Up Your Productivity and Performance. I would love to hear about this podcast has impacted your life. E-mail me at Debra@DebraKasowski.com. Thank you for listening to The Millionaire Woman Show where we talk about leadership, business, and human potential to help you live rich from the inside out. Subscribe to The Millionaire Woman Show. Share it with Your Friends. Give us a 5-star rating!
DEBRA KASOWSKI, BScN CEC is an award-winning best-selling author, transformational speaker, blogger, and Certified Executive Coach. She has a heart of a teacher and is certified in Appreciative Inquiry and Emotional Intelligence. Her writing has been published in a variety of print and online magazines. Debra Kasowski International helps executives, entrepreneurs, and organizations boost their productivity, performance, and profits. It all starts with people and passion. Sign up the Success Secrets Newsletter and get your free mp3 download today! www.debrakasowski.com
Keywords: marketing, save time, save money, why behind the buy, selling, sales psychology, what motivates people to buy
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