Thursday, September 30, 2010

What Motivates People to Buy? (Part I)

Believe it or not, getting people to buy something they like is relatively easy. For the most part, if the price is right, they will buy any given product, if the time is right that is, or they might even buy when the time is not so ideal for them. It all depends on how urgent their needs and wants are.

As you can see, there are many variables that lead to a sale. Many conditions that must be “just right” in order to make a sale. But let me cut to the chase. Here’s a scenario that practically guarantees a sale every time. Wow, I’ve got your attention now! That’s right. I’m going to reveal the one offer that almost guarantees sales in high volume, just about every time a prospective buyer comes across it.

Here’s the offer: Send no money now, pay later.

That’s it! That is the one offer that will almost always produce a sale with just about everyone that reads it. The reason being is that this sale requires no money transaction at the point of sale, which eliminates the number one obstacle of making a sale in the first place: price.

Here’s proof: If I offered you a book priced at $24.95, you would immediately start looking for ways to justify the price of that book. You would ask yourself, “How much do I get for $24.95?” You will make comparisons to other books and other offers. You will want to know that the quality of the writing, printing, binding, and all the rest is worthy of that price.

“It’s much more a question of not losing your $24.95 as opposed to gaining whatever information the book has to offer.”

Now what if I removed the price (obstacle) and offered that very same book for free? Just about every question you had will disappear because you have nothing to lose. Since you have nothing to lose, (money) and everything to gain (the book you want) you are suddenly much more willing to place the order and get the book. The only problem with this offer is that you think there is a catch. Why would I give away this book? Is there something wrong with it? (damaged, inferior writing) In what way am I committing myself to the seller? What does the seller want in exchange for this transaction, if not money?

So you see, a new set of questions and obstacles arise once again that might prevent someone from ordering the book. All this jostling for the right price-point is what marketing is all about. This is where the science of selling meets the art of offering. This is where the right offer (formula) will yield the highest volume of sales at any given time, every time.

But what is this magic formula? How do you know what the best price is for your book and how do you overcome the many obstacles in the long chain of events that lead to a sale? The answer is fairly simple. You must remove every obstacle in your way. Every red light in the path that leads to your book, must be turned to a green light, a go. In short, here are the green light conditions that lead to sales:

  • Product Awareness: (via advertising or publicity) Prospects search for or stumble upon your online advertisement, are intrigued with it, become curious and want to know more about it, so they click.
  • Buyer interest (needs and desires) Prospects are looking to break the boring routine in their lives. By nature, human beings constantly need interesting events that offer them happiness.
  • No Concerns (fear, apprehension) Assure buyers you’re not ripping them off. That they are getting their money’s worth.
  • Product Benefit (quality, worth, inspiration) What’s in it for them? How will this book enhance, or change their lives?
  • Emotional Connection (buyer identifies with it) Buyer finds an emotional reason to bond with your book. (Via book cover, themes, premises, quote, etc.)
  • Buyer Motivation (intrigue, excitement, action) Prospects reason they want your book and they must have it. This reasoning moves them from passive observer to interested buyer.
  • Product Accessibility (easy, fast purchase options) Make buying the book as easy as possible for them to pay for it via credit or debit cards, Paypal, etc.
  • Right price (not too high or too low) The perfect price point. Most of the time, you can guesstimate this price by comparing similar books sold in different venues, usually by trial and error. If your price is much higher than similar books, it will seem unfair or greedy. If it is far lower, it might be perceived as inferior quality.
  • Fair or free shipping and handling (price) Ideally, shipping should be free (shipping costs included in the cost of the book if possible) or should be the same or even lower than most average shipping costs.
  • Tax fee (depends on the state) If the book you want to buy is manufactured in the state where you live, you must pay the appropriate state sales tax. Otherwise, no sales tax is imposed.
  • Speedy delivery (How soon will buyer receive the product?) Once the buyer orders your book, they want it as fast as possible, without major delays. Usually within a week or less.
  • No strings attached (No commitment is expected of buyer) The buyer wants to be left alone to enjoy it without further exchanges or expectations of any kind. (Reviews, feedback, etc.)

These are the primary conditions (yes, there are variables) that need to be in place, every time. There are no exceptions to these sales conditions. Every link in the chain of sales events must be green for go, otherwise you risk losing the sale.

What are the variables? An interruption, a lost internet connection, a distraction, sleepiness, pain, nature calls, a black-out, your favorite show is on, you name it. There are numerous reasons why a perfectly good sale might be abandoned by an interested buyer. But these variables are not set in stone and account for only a small percentage of lost sales.

Check out Stephen King's "Under The Dome" Teaser: I'll be commenting on it after Part II.
Meanwhile, here's another Stephen King classic Book Teaser: "Duma Key" with my commentary and analysis.

Stay tuned for Part II, next Monday. There's a lot more ground to cover and this is just a sampling of what's to come. Check back often or subscribe and stay informed with more eye-opening marketing exploits in the works and on the way.

This article (excerpt) was swiped from Alberto’s upcoming book, tentatively titled, “Don’t Freak Out” Fearless Marketing: Proven Techniques For Promoting Your Novel

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