Have you often wondered the reasons why people buy what they do? Is it simply by impulse, or is there something more driving people’s buying decision? Although there are numerous reasons why people buy, many more than I could cover in this short article, there are three (3) main reasons that drive buyer behavior. And these 3 reasons apply across the board – in any market, industry or niche imaginable.
In other words, the reasons why someone buys from their favorite store are the exact same reasons why people buy from you as opposed to your competition, or vice-verse. This holds true regardless of whether you sell website designs, artwork or even mail order.
The reason I am spending the time to “drive home” the importance of these three reasons are:
- Give you the ability to tap into their persuasive power and use them to boost your sales, and
- Put you in a position to expand your business and ensure steady growth over a long-term basis.
Let’s get started…
Understanding the Reasons Why People Buy
[clickToTweet tweet=”You want consumers to say, ‘That’s a hell of a product’ instead of, ‘That’s a hell of an ad.'” quote=”You want consumers to say, ‘That’s a hell of a product’ instead of, ‘That’s a hell of an ad.'”]
If you hadn’t already guessed, this article is about the power of psychology. But rather than give you a lengthy (and boring) overview of how to use questionable “mind control” tactics to unfairly influence buyers – I’m going to show you how to use legitimate, honest and proven buyer triggers that deliver a powerful message to your buyer base – ensuring that your sales go up and your refund rates goes down.
The three main reasons why people buy are:
- Make money
- Save money, and
- Alleviate pain and suffering
These are the three main buyer triggers (reasons) that motivate people to buy. As you can see, they all revolve around a person’s emotions – which is why most people buy, emotional reasons. Let’s take a look at how emotions drive people to buy.
Reason #1: Make Money – We all want to make more money, right? And so it should be no surprise that “making money” is one of the main reasons why people buy products and services.
Simply take a look around the marketplace (search the web) on “Making Money“, and you’ll see just how many products are designed to help people increase their income and improve their financial situations.
More money means different things to different people: For some it means no more worrying about how to pay the bills. Other people may need to make money to fund projects, get businesses and projects off the ground, while for many others, making more money is simply about security and in their ability to provide a better life for their family and future generations.
If your product can help someone make more money, thus improving their financial situation, then you’ll be tapping into one of the three main reasons why people buy products and services.
Reason #2: Save Money – Saving money is just as important to buyers as making money is, and if you browse through both digital and physical product marketplaces (CJ, ClickBank, Share-A-Sale, etc.) you’ll find plenty of information on how people can reduce their overall costs and save more money.
From saving money on household bills to saving money at the pump, if your product can help people to save money you’ll be taking advantage of yet another key buying trigger. However, having said this about either making or saving more money…
IT’S NOT ABOUT MONEY!
You heard me correctly, it’s NOT about the money…
It’s about what they can do or get with the money!
In other words, it’s about the new home, the new cars, the new clothes, the medical bills, their retirement, or whatever it is that they want to do with more money. Thus, whenever you talk or write about how people can make or save more money, focus more on what they can do with the money and not just the amount of money they can make or save.
Think of how the additional money can help alleviate pain and suffering. Which leads us to our 3rd point on reasons why people buy…
[clickToTweet tweet=”Consumers want products that identify with their pain and show how it will make it go away.” quote=”Consumers want products that identify with their pain and show how it will make it go away.”]
Reason #3: Alleviate Pain and Suffering – This is perhaps the most powerful reason for people to buy. Why? Because this group of buyers are absolutely desperate for a quick and easy solution to their problems, and they are willing to pay or do just about anything to find one!
You may have heard the term “desperate buyers”, and there is an entire market dedicated to this avid group of buyers. If you cater to a market that consists of buyers looking for prompt answers, fast solutions to personal problems, or relief from emotional or physical pain, showing them how your product will directly alleviate their suffering is a very powerful trigger that will result in increased sales.
Think back to a personal situation that you faced that involved pain and suffering, such as a toothache or other medical emergency. How eager were you to find a remedy to alleviate your pain or suffering? Very eager, I would guess.
For instance, during a Christmas party years ago I chipped a tooth on a piece of hard candy. It was late and no dentist was available to fix it, so I rushed down to the local 7/11 and gladly paid double the price for some pain relieving tooth gel. Was I concerned about the cost at that moment? Of course not! I was in pain and I wanted relief…NOW!
Think of the pains that your customer is facing, whether it be the lack of traffic coming to their website, the lack of subscribers on their mailing list, the inability to find software that will do what they want it do; or whatever problem (pain) they are encountering, and either find or create a product that will alleviate that problem.
The reasons why someone buys from their favorite store are the exact same reasons why people buy from you as opposed to your competition, or vice-verse. This holds true regardless of whether you sell website designs, artwork or even mail order. The three main reasons why people buy are:
- Make money
- Save money, and
- Alleviate pain and suffering
When it comes to making or saving more money, remember this: it’s NOT about the money – It’s about what they can do with the money. When you are talking in person with a potential customer or writing sales copy, focus more on what they want to do with the money and not just the amount they can make or save.
The ability to alleviate pain and suffering is a strong psychological buying trigger for making people buy now. Whether that pain takes the form of physical, mental, or business pain makes no difference. Show your potential customer how your product or service can solve their problem, and you will increase your chances of persuading people to buy exponentially.
Be sure to address these 3 reasons why people buy in all your marketing efforts. Upon completion of your marketing materials always ask yourself the following questions:
- “Did I do a good job of showing them how to make/save money and get what they want?”, and
- “Did I truly show them how to alleviate their pain and suffering by buying/using my product/service?”
Master these three main reasons, make them your own, and use them to help (not manipulate) people to get what they want and alleviate their pain and suffering.
In Part 2 of this 3-part series, we’re going to delve deep into Content Marketing – How to Identify Customer Needs. Till next time…
PS: Thank you for commenting and for sharing this with others!