What Motivates People to Buy?
By: Pat Seroka
In one of my last blogs I encouraged all of you to consider: What do you sell?
In this blog, I would like to explore: Why do people buy?
The best place to seek out an answer is to look introspectively at yourself. Why do you make a purchase?
When you dig deep, you’ll discover that you make a purchase for only one of two reasons, often both together; to either avoid a loss or to acquire a gain.
Let’s explore that. You buy insurance to avoid a loss; a home to gain independence, family sharing and financial security; computers and technology to gain efficiency; a safe to avoid a loss; and a car to gain mobility and independence. I could go on and on, but I would challenge you to identify anything you buy that does not fit into the gain or loss column. There is no other reason to spend money or create a loss in your financial health, without acquiring a gain or preventing a loss.
So, taking that to the next step, gains and losses are indeed emotional factors. And, that is the message I want to send…to ensure your marketing is tied to emotional factors. After all, people buy for emotional reasons and justify their purchases logically.
So, your advertising needs to appeal to the emotional chord in your prospects. And, everyone’s emotions are unique to their lifestyle and personal goals. Where is the common denominator in portraying that in your advertising?
You’ll need to consider the demographics you are pursuing. Where is the most commonality? Many marketers, particularly the larger ones do a great deal of testing before a rollout. Often running side by side campaigns targeted to unique demographics. Others know exactly who they want to reach and design their campaigns accordingly.
Bottom line, be sure you are entrusting your marketing dollars to professionals that understand buying motivators and how to segment and reach different audiences the most effective way.
And, if you’re in the mortgage or fintech arenas and would like some assistance, send me an email to email@example.com.
We’ve been successfully leading clients through the most effective buying pathways for over 30 years.