Getting people to buy your product can be damned hard work, can’t it?
You’ve worked on what you believe to be the most effective value pricing strategy, fine-tuned your product or services for the market, and you’re pretty sure your competitors are all either, a) more expensive, or, b) too cheap.
But still your business fails to grow!
What gives?
It’s hard work to convince and persuade customers to buy your stuff. This is a fact of life and one I’m not about to dispel. What I AM about to do, however, is reveal how to sell what people want to buy.
The most common approach to selling doesn’t work - sorry
“I’ve got this really cool widget - do you want to buy it?”
That’s the approach most businesses take when selling a product. Why? Because they believe that people need that product. And maybe they do.
The right intention is there. But they’re completely missing HOW buying works!
The approach I take to selling services is completely different. Yes, I know people need them, but I also understand what they’re most likely to buy. For example, I know that they’ll happily buy financial security, freedom, and fulfilment, if it’s available.
The consequences of the former approach are pretty damaging. If you fail to work out what people actually want to buy, you’ll end up spending countless hours and a tonne of money trying to convince them to buy.
Trust me: no one wants to be convinced to buy anything these days. They simply need to understand that you’re the right business to buy from.
The alternative selling method explained
Supply and demand in business is a tricky thing to define, but the trick is to always be one step ahead of your potential customers.
That way, you’ll always have enough products to sell them, and you’ll probably be ahead of the competition, too.
Rather than trying to convince people to buy something, you need to position whatever it is you’re selling to match their requirements.
For instance, I know that people don’t want to buy a “coaching package”. Because, let’s be honest, what on EARTH is that? It’s so intangible. No, I understand that what my potential customers want to buy is the solution for the problem they’re facing.
They want financial security with fewer clients. They want to earn more money without selling their time. They want to know how to consistently attract profitable customers. They want more time off to spend with their loved ones. They want to be fulfilled.
Therefore, each of my services is tuned to provide solutions to those problems. They just happen to be wrapped up in something called “a coaching package”. That’s what appears on the invoice – but not during my conversations with potential customers.
How to create a value pricing strategy
Sorry about the business speak, but a value pricing strategy is exactly what you need here.
To create yours and develop a product or service which people want to buy, you need to start by deciding who’s at the centre of the story. You can do that by asking yourself the following questions:
- What kind of person are they?
- What is the main issue they have with which you can help?
Draw a picture of that person (literally, if you need to) and write down their personality traits.
With that person in mind, consider which option below is likely to have the biggest impact on them:
- Option 1: “Hi, I’m selling this product. I think you need it.”
- Option 2: “Hi, I know what that problem is like, and I know how to make it go away.”
Option 1 reveals that you know very little about your audience. What’s more, no one cares. Seriously - no one cares about your product if you’re making it all about yourself.
Option 2 can only be spoken confidently if you’ve done your homework and got under the skin of your audience. It demonstrates empathy and hits on something about which they care A LOT.
Are you POSITIONING what you’re selling?
Before I go, ask yourself the question above. Who’s at the centre of the product or service you’re attempting to sell? Is it your customer, or is it you?
It’s a tough question to answer, but if you’re struggling to gain any traction, it’s probably the latter.
Make life easier for yourself; start looking for the why in everything you sell. You’ll soon get to the bottom of what your customers want to buy.
