Remember you are not alone, competitors are everywhere. Buyer's psychology will give you a huge leverage over your competitors. Identifying them will help you come up with answers, may it be products, services, or both. In today's pace, everyone wants easy solutions and quick results for everything. We have no time to dwell with the intricacies of life. We want fast results right away. The main reason why we buy things or acquire services is either to satisfy our needs or to satisfy our passion. We cater to our needs and wants. These types are the easiest to target because the interest level is high.
This is where buyer's psychology comes in. The buyer who caters to his needs is either desperate or in a hurry to come up with quick solutions to his current situation. He could be a father worrying about the amortization of his newly acquired house or a college student in desperate need of a loan for him to continue his college education. Note the presence of pain and the element of time. The best way to deal with this type is to present the problem to them. Make them aware of the possible consequences if they can't come up with the solution in time.
This will also establish yourself as en expert because you identified the problem right away. It means you know what you are doing - you are an expert. Empathize with their current situation, feel their pain. You can say you've been in that same spot before and have come up with a tried and tested, effective way to deal with it. Present specific and realistic improvements or positive changes. Stir in a little buyer's psychology in your material. The other type of buyer is out to satisfy his passion, his wants. He has tons of money to spend. He can be very, very impulsive.
He will buy the first thing that captures his attention. He can have everything but still wants more. Dealing with this kind is easy. One must simply identify with his passion. Praise his choices. Site the uniqueness of your product or service establishing the need for him to have it. Give him add-ons if he decides to buy your product. This will keep him coming back over and over again because he will think he's getting his money's worth. Congratulate them this way for making the right choice. Sometimes we think the solution to our dilemma must come from very high and lofty places when in fact going back to the basics is the answer.
Buyer's psychology is the answer. The best way to understand buyer's psychology is empathy. Put your feet in your prospect's shoes. Understanding your prospective buyers, identifying with them will help you come up with products or services that will surely bring dollars to your pocket.
Menno_Spijkstra
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