Have you ever wondered why some people will haggle over a few bucks on a product but will shell out thousands on another product without a second thought?
Here’s the difference:
One product provides a solution.
The other one justifies the customer’s actions, thoughts, or behavior.
Which do you think sells for more?
You see, we’re an irrational bunch by nature. We’ll go to the end of the world to justify a belief if it’s held enough.
Take the world of supplements for instance.
Despite most people knowing that consistent diet and exercise are the way to any fitness goal, supplements are still a multibillion dollar industry.
And it’s not because they work that well.
It’s because supplement companies have convinced consumers that they’re different.
That they’re special.
That all they’re missing one key ingredient.
And by adding that one ingredient/supplement/shake weight, everything will be ok.
Most importantly, they justify the consumer’s behavior.
They remind them about everything else they’ve tried.
It might go something like this…
“Have you tried every diet you can get your hands on? Have you spent hours slaving away on a treadmill without seeing an inch drop from your waist? Have you drunk enough water to satisfy an African elephant?
You see, while these are important, it’s only part of the equation. What Mr. Joe the Trainer forgot to tell you (or chose not to because it means more money for him), is that to have weight melt off you like hot butter on your mama’s biscuit, you need “Johnny’s Magic Potion”.
“Johnny’s Magic Potion contains 235 crucial vitamins that your body needs to shed fat. And without all those 235 crucial vitamins, your body hoards fat like a squirrel hoards nuts”
They justify your beliefs.
They show that why you’ve been unsuccessful really isn’t your fault.
It’s Joe the Trainer’s fault.
But by taking Johnny’s Magic Potion, you can finally lose weight.
Now instead of researching this product, if that sales letter falls in the hands of someone who has done every crash diet on the face of the earth but has yet to see results, they’ll shell out whatever they need to get Johnny’s Magic Potion.
The supplement company has justified the consumer’s beliefs.
Now the consumer can justify the price.
It’s not a marketing trick.
It’s human psychology.
Don’t mistake this for an evil magic trick (even though it’s easy to do with this).
Use it as a cattle prod if your ideal customer is sitting on the fence.
What have they tried in the past that got them to viewing your product/service?
Figure this out and your price no longer an issue regardless of what it is.
A couple of years ago, my A/C went out in the middle of summer.
The house skyrocketed to 90+ degrees. I sent the wife and kids to a hotel and I decided I was going to fix it myself.
My dad was an HVAC pro for a while so I could naturally fix it too, right?
It didn’t take more than shocking the shit out of myself twice in 10 minutes to figure out I couldn’t do this alone.
So I decided to pull out my ole pal Google.
“My A/C shocks me but doesn’t cool”
“Air conditioning to blowing cold air”
“Does my AC transformer need replaced?”
If you could have seen my search history that day, you’d think I was some primitive chimp looking for the answer to life.
Anywho, in my frantic searches, I came across a Trane Supply website that had answers to several of my questions.
And after another half hour of shocks and blinding myself with my own sweat, I decided to give them a call.
And to my surprise, instead of selling me something, they recommended I try a few things first. This cycle went on for 4-5 phone calls before I finally discovered the problem.
By that point, there was only one place I’d go to buy the part I needed: Trane Supply.
And any HVAC product I’ve needed since then, I’ve gone to Trane Supply.
You see, so many online businesses are quick to offer the sale but not to help. And that’s part of why retention rates are so low.
Take Casper, a DTC mattress company, for example.
They built content around every possible issue that could result in needing a new bed.
Trouble sleeping at 2 AM?
Casper had an article for that (which had ads running to it in the middle of the night to maximize relevancy).
Body ache in the morning?
Casper had an article for that.
Soon, people started to see Casper as THE expert in mattresses.
Where do you think most of them went when they were ready to buy a mattress?
Look, I get it.
Creating content is not as fun and sexy as making a sale.
But if you want more than a one-time customer, you need to become their go-to source for information too.
Be more like Trane and create more lifelong customers.
All the best,
PS – A thermostat. The answer to my hours of pain and sweat was a $20 thermostat that took 5 minutes to change.