When I ask business owners what their customers are buying, I usually get a litany of their products and services. In reality, there are only three things any of us buy:
- Image
- Innovation
- Time savings
Image
We buy things because they enhance our self-image…or our image in others’ eyes.
Innovation
We buy the latest, greatest of what we enjoy most.
Time savings
We buy things that save us time…time for the things we enjoy.
That’s it! That’s all that we buy.
You may be wondering “How does that impact my business? How will this information help me generate more sales?” It helps you improve the ROI on your marketing dollars and your close rate.
Marketing
When you incorporate these emotionally-charged elements of what your customers are buying into your marketing messages, you improve buyers’ interest in what you’re offering.
At times, you may want to have an array of marketing messages to target image, innovation and time savings buyers. It’s rare that an offering appeals to all three, but it’s possible.
It’s also possible to appeal to two of the three with just one message. Apple appeals to both image and innovation buyers with its messages. Innovation buyers continue to buy Apple’s latest offerings because they want to be on the cutting edge of technology. Others buy so that they appear to be on the cutting edge i.e. they want that image.
Sales
When in a sales call, it’s easy to ask questions like:
- What do you think about [latest technology]?
- What would it feel like to have your competitors wondering “How does he accomplish so much with so few people?”
- How would it help you if we cut [the process] from 3 weeks to 2 days?
You’ll know from their responses which of the three is most important to them because they become considerably more animated in their response to the one that’s most important to them.
Takeaways
Before developing a marketing message or entering a sales call, remind yourself that the only things a prospect is buying is image, innovation or time savings.
Then craft your marketing message using language that highlights what they’re buying. it’ll dramatically improve the quality of prospect you attract. Image buyers won’t respond to innovation or time savings messages…unless they want to project that image.
Innovation buyers won’t respond to image or time savings messages unless the message includes some element of innovation.
Time savings buyers often care less about their image or whether it’s innovative, their interest is pragmatic…time savings.
In your sales calls, ask questions that quickly help you identify whether the person is an image, innovation or time savings buyers. Then craft your message in light of their interest. You’ll be amazed at how it improves your close rate.
If you enjoyed this insight, please share it with friends and colleagues. They’ll appreciate that you’re thinking of them.
Resources
For a complete overview of Greater Profit/Fewer Sales concepts, check out Dale’s books, Pricing for Profit and Generate Greater Profit With Fewer Sales:
Even More Profitable training programs assure that your organization enjoys the benefits of being a Greater Profit/Fewer Sales organization.
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