Business Growth Power Principle # 20

Principle 20

Tell Then Why

Why should they buy from you

Here’s a light bulb that looks rather funny, although it screws into any socket the same way any other household light bulb does, and it lights a room as well as the normal bulbs. But this new, funny looking light bulb costs £10 per unit, and you can get the normal ones at three for £1.29. So why should anyone buy the funny looking light bulb for $10?

Well, the funny looking light bulb is a new energy efficient design that burns more 858% less energy than does the ordinary bulb does, and lasts easily five years or more. Over the lifetime of the new kind of bulb, you save more than £258 in electricity cost, and you don’t have to replace the bulb 25 times as you do with the cheap, normal ones.

To get a customer to pay £10 for a light bulb when they are accustomed to paying a pound, they really need to know why. If your explanation is good enough, as in the above example, they’ll buy your item more often.

If you don’t tell customers why they should buy from you no one else will

Often if your price is very low, the result can be fewer sales because even though people love bargains, they may be suspicious. They think: “If it’s that cheap, there must be something wrong with it.” But if you tell them: “We need to reduce our inventory now because we don’t have enough room in our warehouse for the new stuff that is coming in,” that can be a logical explanation that sits well with the prospective customer and therefore be viewed as a good opportunity and a bargain.

Your “Why” factor can pertain to the quality of your product, why it takes so long to deliver it, or why it’s clearly better than your competition’s product. I encourage you to take a close look at whatever you sell, then put yourself in the position of the buyer, and ask, “Why that price?” “Why is it so small?” “Why should I buy now and not later?” “Why is it worth waiting for?”

Many businesses offer highly publicized discounts…. 40% off all fitted kitchens. All stock must go 20% off, etc – Without giving a reason why you are making such great offers, this strategy can be not only ineffective and counterproductive but also very damaging to profitability. The fact is that many buyers today are highly suspicious, sceptical and outright cynical about such offers, to the extent that they view them as a ploy, a con or just totally ignore them.

Giving the buyer a reason why you are making such a great offer justifies and adds believability.

The better you educate your customers and pre-emptively clear away any nagging “whys?” that can easily be lingering in their hearts and minds, the fewer obstacles there will be for the customer to make a decision to buy now. Doing so will make the offer more convincing and the prospect is therefore more likely to buy.

You can often get a clue to what the most important “Why?” questions are by listening to your customers when they come in to look at your product and ask questions about it. If you notice a common theme or pattern, why not go ahead and answer those questions in your ads and sales letters. The customer may more often come in pre-sold because they already know what they need to know to make a buying decision.

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