There’s something I’ve been itching to tell the world, and it’s been bothering me like a bad tooth ache…
I’m a cheapo.
So if Black Friday sales were a zombie outbreak, I can confidently mark myself safe every time.
That’s because I spend too long comparing prices that by the time I decide to buy something, some sale-crazed person has grabbed it already. Or most of the time, I just decide it’s not worth it.
I research and negotiate the price, ask too many questions, and even try to make the product myself – in short, I can be extremely annoying.
But here’s something you should know about people like me:
- We do spend money
- We represent a big fraction of the population
- And because we are stingy, we have lots of money to throw around when it’s “worth it.”
Those 3 facts make it worth having special sales tactics for us.
We have no problem spending money on “expensive” items like an investing course or a health factor because we know they’re going to eventually pay for themselves.
For as long as we think they’re worth it, we’re willing to dip into our reserves and shell out money.
And because I try to be helpful, I will tell you what makes me buy, so you can use that knowledge on people like me:
1 – Don’t assume I’m stupid
Treat your cheapos like they’re stupid, and you will drive them away. Value shoppers are basically purchasing experts. We’ve seen all the tricks and dug through all the numbers. So if you try to pull one over on us, you’re out.
You should NEVER:
- Make a vague, outrageous claim without backing it up. You say that what you’re selling is going to help us save money...how exactly?
- Use countdowns and flashing stars. It looks cheap and tacky…and it’s not fooling anyone.
- Use pressuring tactics. If you try to pressure us into buying something, I’d be suspicious. And if we don’t trust you, we won’t buy.
We’re looking for value. You need to show us why we should buy your service instead of just ignoring the problem or trying to do it ourselves (waterpiks are pretty cheap right?). Or why it should be YOUR product instead of the alternatives.
You can grow your business with these marketing resolutions instead of relying on tactics that can end up insulting your potential clients.
Trying to trick us into a purchase is the worst thing you can do because that means we won't buy from you. EVER. Every time someone shows me a blurry graph of my teeth that says I have a cavity that needs removing I’m suspicious.
Telling me tri-annual $100 cleaning will prevent minor surgery every few years, plus I’ll have cleaner teeth along the way, that’s a good deal!
If you’re going to tell me that this $100 toothbrush will help me prevent a trip for a root canal, then great! I’m in! But you better have a statistic to show how it’s different from your regular toothbrush.
2 – Show me how it saves time or money
People like me have spent so much time doing research for purchases that we ended up not making. We’ve been through it and don't enjoy it. Most of us regret how inefficient we are. So we are typically very open to someone else doing the math for us to help make up for that lost time.
An easy recent example for me is that I’m a finance guy, not an HR person. I hate parting with money to do something I can do, but knowing how much of a time and money waster a bad hire is, I get other people to help me out to avoid it.
A couple bucks now is worth it in the long run.
Show us what we’d be losing by trying to do something ourselves. Make us realize what we'd be getting ourselves into if it weren't for you. Would I spend an extra 5 minutes a day and only “maybe” get the results I want? Do 90% of people who buy Waterpiks never use them? Or if I avoid a minor surgery now will it turn into a bigger, more expensive one later?
Just address that up front and let us know why we need your offer. If your numbers seem real our defensive walls can drop quickly.
And this applies to every problem out there! Whether we’re talking kids who won’t brush their teeth or kids who won’t sleep. If people are suffering they want their problem solved pronto!
That’s how you make everything sound “worth it”. Acknowledge that the cheap person in front of you can do it themself, but that it’s a bad idea for some reason. For me, time is money. If your offer would help me save time, I will jump at it.
3 – Show why your offer is really is a steal
Although it feels a little contradictory to the “don’t assume I’m stupid” point, there's a difference between pointing out a great deal and tricking someone into thinking that.
This is what I mean. We know every "liquidation" sale sign we see is trying to trick us into buying stuff we don't need. The same goes for selling a $10,000 package for just $99. It sounds like a good deal, but why would you offer something that valuable for so cheap?
Yes, I’d definitely be curious about the offer. But that’s how far you’d be able to take me.
If you can prove that I’m really getting a great deal, that would make me buy right now. Show me how much your competitors charge. If I’m getting something for free that your customers normally pay for, let me know.
Every sales page nowadays leads to this “amazing value” that you can get at this heavily discounted price. They use all kinds of scarcity triggers to get you to buy right now. But that would only have a chance of working if I’m already interested in your offer.
Even a 99% discount on a course won’t convert us to a customers if we don’t think it’s worthwhile in the first place. But a software that automates client messaging and scheduling so that I don’t need a secretary? Now, you have my attention!
Honesty and benefits: That’s what we’re all about
Selling to a segment of the population who have serious money to spend is great! Cheapos love amazing deals – as long as they’re real. The sooner you realize the importance of being honest and demonstrating benefits, the sooner you can open up a new market for your offer.
Article written by: Leif Kristjansen