I recently read a very unusual article by Dov Gordon on Firepole Marketing, titled; 3 Questions to a Consistent Flow of Clients (Beware the Marketing Plumbers!). I really recommend you read it, as in RIGHT NOW!
This unusual article is a follow up on what was shared there. I have always been emphasizing this point on naijapreneur. And it’s so painfully true;
people don’t care about you, how much success you’ve achieved or even what you have to sell.
People care about themselves first, second, third and up to infinity.
People are naturally selfish; including me, including you!
If you want customers to buy what you have to sell, here is what you need to do;
Forget about what you want or don’t want and focus on giving them what they want and getting rid of what they don’t want!
The 40/40/20 Rule of Marketing
Here is a fact that explains why customers buy. The “40/40/20 rule” explains what constitutes the response for a marketing campaign. It breaks down like this:
- 40% of the success of your marketing is dependent on the target audience
- 40% of the success of your marketing is dependent on what you’re offering [product or service]
- 20% of the success of your marketing is dependent on creativity
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I must say this is a great article i enjoyed reading it keep the good work 🙂
Thank you Ben. Appreciate your comment.
Yes, indeed its a great article Tito.
But, can you discuss, the difference between Retail and Enterprise customers mindsets. It will be interesting to watch.
I always felt businesses which serve Retail customers are more powerful, more profitable, and less risky. But on the contrary for Enterprise customers, marketing has to go lot step further to convince to but product and services.
Great summary. Another interesting read that compliments the theme of this article is “Do You Matter” – This book has more of an industrial design slant, but focuses on that all important question. I highly recommend it. Personally if Apple were to stop making products I feel I would be deeply impacted, so as a company they certainly matter 🙂
As always John, great to have you here. Do you matter is going to be on my to read list, didn’t even know such a book existed. I do agree with you that this is the core of understanding customer psychology marketing. Until what you do as a business matters to someone, you will never get them to buy.
Thank you for you always insightful contributions.
Thank you for teaching me Philips, great is your lessons, keep it up.
Thank you Erick, how are you doing over there?
As what I understand, people buy because they have wants/needs to be satisfied with through buying products. People usually overdone this because as to what extent, they buy products which is not really needed to their homes or for themselves, its because they are only fascinated with that product. In economists point of view, the attitude of people which is like this is somewhat overspending their money and the tendency is that: expenses will outdone income and tend to have no savings at all which is very dangerous! Well, anyways people do have brilliant minds to solve this. They just need time.
Truly you have hit the nail by the head Tito. It is a good piece of information that is worth spreading. Thank you.
Thank you for the comment.
Really appreciate your kind words.
Customers are humans just like everyone of us, they are psychologically driven. To get their patronage, we do have to understand their psychological nature. Hope this has helped to shed some more light on that?
This is a great article. First time on your blog and i got to learn so much. Well, now i have this task of reading all your older blogs. Am sure, i’ll get to learn a lot. 🙂
Thank you Mohamed for the feedback. I hope you enjoy reading other unusual articles on najapreneur and learn one or more new things.
Thanks for the honorable mention, Tito.
Dov
You are most welcome Dov, thanks so much too for stopping by!
I think people are driven by the idea of doing good. This is a very important factor in today’s economy. At the same time, companies have become aware of the fact that spending in marketing thru traditional channels no longer delivers results. People are now interested in helping and doing good as well. And for a company to succeed, it needs to address its customers’ interests –> so many contribute a part of their marketing budget to charity as a way to fulfill their customers’ needs. And this is Voucherry. Voucherry, connects cause supporters with excellent service merchants to generate more sales and more contributions. And that make people buy, knowing that with each of their purchases a non profit is helped.
Thanks for your comment!
Thank a million thanks for this immeasurable unusual articles once again. may God continues to increase your wisdom, knowledge and understand as you continue to unfold success tips and guide in the world of business.
Thanks Kenny.
I appreciate the kind words, wishing you the same too.
The best thing we can do as marketers is to create an environment that gets people to feels god about themselves using our product. They first need to see themselves benefiting from what we are offering. Once they can see how good this product will make them feel they will be compelled to buy.
Very nice insight here Alby, thanks for the Amazon example. Makes super sense -;
Credibility is the key to getting people to buy from you…especailly online… and it s the main reason that Amazon is so successful. People trust and feel comfortable buying thigns from Amazon because they know they will be protected if there is a problem. That’s why its very difficult for the small guy to comepte with them… they hvae all the credibility they need built into every sale. Online marketers have to figure away to establish a similar type of credibility without the instant name recognition. One way to do this is testimonials…honest testimonials…. but that can be a tricky slope to navigate, as well!
Dazzy,
Thanks a lot for the very insightful comment.
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Hi Mr Philip, your article is quite fantastic. Kudos. Naija spirit is at work in you.
I was searching through google search engine the number where my article on a similar topic “Why Customers Buy And Why They Don’t” is as my normal routine check on my productivity online when I stumbled upon your article, being a keen lover of Naija entrepreneurs [worldchangers with me], I stood to drop my comment with you and also to encourage you.
I wrote an article on a similar topic which I would like you to take a look at. Meanwhile, I’m a practicing Entrepreneur. Here’s the article, check it out:
Why Customers Buy And Why They Don’t http://wp.me/p3V6b8-7m via @emchis4noms
Thanks.
Thank you so much this is very helpful
Great article here, I’m totally going to reference this in my upcoming research study on what makes people buy online!
Keep it up!
very well said. i would’ve appreciated if you would also cover,
how many %ile customers questions all this,
how and what do they see and seek from creativity of products
how is comparison established with other brands
I’m not sure why people have responded so positively to this article.
It’s crap.
People do not buy because you are giving them something they want or helping them get rid of something they don’t want.
People buy because you make them feel like they want or need something and then only when you make a compelling argument that lets them back up that decision with logic.
It is not to say that people don’t buy things they want or need. But lets make the distinction here; if they set out to buy a pair of $20 shoes and they walked out of the store with a pair of $20 shoes, you didn’t sell them anything.
However, if they entered the store with the intention of buying a $20 pair of shoes and end up leaving with a $150 pair of shoes as a result of a sales person explaining the features and benefits of owning a pair of Awesome Brand shoes, then you have sold them something.
There are numerous ways you could have accomplished this.
One is to wow them with product knowledge and create the feeling of excitement that will come from their friends seeing them wearing this amazing pair of shoes. Equally important is to point out how much money they really are saving because these quality shoes will last longer saving them trips back to the store and money spent on several cheaper pair of shoes that aren’t nearly as cool.
The other factor is how much of a rapport you established with the customer. People want to buy from people they like. They want to please them. They walk away feeling like they not only got a great deal on a pair of shoes, but the also fee like they helped Joe Salesman or Sally Saleswoman earn a commission and put food on the table at home.
So to recap, its not enough to just present people with options for getting what they want or help them get rid of what they don’t; you have to sell them on the value of what they are buying, create excitement around what owning this item will do for them and you need for them to like you so that in buying what you are selling makes them feel like they are not only helping themselves, they are helping you as well.
Thank you for your comment.
In the end, I’m glad you equally agreed people buy because need or want something. Whatever value they derive is up to them, but that’s the psychological drive that led them into the buying process in the first place.
Without tapping into that drive to sell them with logic and emotions, you would just be wasting your time. That was the whole essence of the article.
To tap into the basic underlying psychological drive and build up your case from there.
I suppose I was a little harsh in the beginning of my comment 🙂
It would have been for more accurate to say that the article needed to fleshed out a bit more for people to truly get an understanding of WHY people buy.
I suppose the argument could be made that under it all, people do buy because they only care about themselves, because in the end, the emotions and logical reasons you have given them all lead to them getting what THEY want.
You’ve got my attention….mission accomplished 🙂
End of discussion…it’s all good Robin. Thanks for stopping by and making such a first time impression!
Enjoyed this article immensely. Thank you and keep up the good work.