Are your customers scared of you?
If you watch closely enough, you will notice that fear dominates most decisions –– especially buying decisions.
The reason people aren’t buying from you is because they are scared. No, they aren’t necessarily shit their pants and call the cops scared, but they certainly fear something about your product.
They might be scared they can’t afford it.
They might be scared they are getting scammed.
They might be scared there is a similar but better product somewhere else.
Your job as a salesperson (and all of us are salespeople) is to highlight the underlying fear that is keeping someone from buying your product.
While the underlying fear will vary drastically depending on the brand and particular product the brand is selling, one of the most common fears is price.
Let’s talk about a company that has done a tremendous job removing price-based fears associated with their products…
The reason Apple has thousands of loyal customers waiting outside its doors hours before the release of the latest iPhone is because they have removed any fear associated with buying their products.
For a long time, Apple was able to sell $300+ iPhones because they were “Apple”, but as they continued to increase their pricing, customer’s were less apt to shell out $800+ for a phone.
So, what did Apple do to mitigate this fear of cost? For the iPhone X, customers can pay $49.99 a month for 24 months to have the most innovative smart phone available. Or, $1.67 a day.
Legendary sales guru J. Douglas Edwards referred to this pricing strategy as the reduction to the ridiculous –– or breaking down a price of a valuable product so extensively that it is ridiculous not to buy it.
At $1,200 some people would think it’s a bit silly to buy the iPhone X. But, at $1.67 a day… most people would think it completely idiotic to NOT own the best smart phone in the history of smart phones.
The take-away from all of this? Your customers are scared of you. Trust me, if they are scared of a high-caliber brand like Apple, they certainly are scared of you. In order to push more product, you need to discover what these fears are and remove them.
By Cole Schafer.
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