One of the most basic concepts of economics is want
vs. need. They may sound
similar, but they’re as different as day and night. As a small-business owner, it’s important to distinguish between the
two in order to attract more clients and grow your business. By learning the
specific wants and needs of your clients, you can learn how to better
market your product or service in a way that speaks to your ideal client and
leads them to buy from you.
- *
Needs *
A want is something you would like to have. It
is not absolutely necessary, but it would be a good thing to have. A good
example is music. Now, some people might argue that music is a need but
you don't need music to survive.
A need is something you have to have, something
you can't do without. A good example is food. If you don't eat, you won't
survive for long. You might not need a whole lot of food, but you do need to
eat.
It may sound completely
counterintuitive, but the fact is, wants are much more powerful than
needs. Even though their needs must be fulfilled for survival, most people make
their purchasing decisions based on their wants, rather than their needs. For
example, people need to lose weight for health reasons. A weight-loss
clinic might assume that clients would respond to a weight-loss program that is
positioned to help them feel better and improve their health. But oddly enough,
what most people want from a
weight-loss program is not health, but to look better, attract more romance
into their lives, to receive compliments from people and gain confidence. Those
are all emotional wants versus objective needs.
When marketing your product
or service, stay away from focusing on promoting the need for it, because until
you identify why clients want your product, you will never be successful
selling to them. Here are some tips to help you identify your client’s wants
and develop effective marketing messages that will help you generate more
revenue.
*Hot Buttons
— Price vs. Value*
Depending on your industry, clients will have
different wants and needs, called “hot buttons.” Hot buttons are the problems,
frustrations and concerns that most clients consider when they do business with
companies. Many business owners feel that price is always the number-one hot
button that impacts their clients. In reality, price is one of their last
considerations. Most clients are more than willing to pay a higher price if you
offer enough value to warrant the higher price.
Unfortunately, most marketing and advertising looks
exactly the same and ignores these hot buttons. Everyone uses the same old
phrases and platitudes such as, “We’re the fastest, we’re the best, we have the
lowest price, we do excellent work,” and so on. And since everyone says this,
your clients become desensitized and don’t believe any of it. If you market
this way, as most businesses do, your clients can’t determine the true value
you provide, so they default to lowest price as a differentiator. Whatever you
do, don’t fall for this trap!
Fortunately, the idea that price is most important
exists only in the mind of the business owner. All you need to do is provide
more value than your competition, and promote it. Your marketing messages
should highlight the parts of your business that meet the wants of your ideal
clients by addressing their hot buttons.
Below is a list of industries and their corresponding
hot buttons. Select the industry category that your business belongs to and
then prioritize your customers’ hot buttons in order. This exercise will help
you identify your ideal clients’ wants in order to create the proper messaging
that will appeal to them.
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*Common Hot
Buttons for:*
*Service
Industry- *Fix it right, Fix it fast,
Be on time, Provide quick resolution, Be honest
*Professional
Industry- *Expected results, General
customer service, Price of affordability, Guarantee results, Trustworthy
*Retail
Industry-* Product options, variety,
selection, Product quality, Product results match expectations,
Customer service, advice, knowledge, Price
*Opportunity**/ Entrepreneur* Industry- Make
money (return on investment), Easily transition into ownership, Validation,
Proof of support, Resonates with beliefs and values
Wholesale Industry- Make
more money and higher margins, ess hassle, easy to do business with
Low risk, Reliability, Receive it on time
Overall, these hot buttons apply to most businesses in each industry category.
Occasionally, other hot buttons may be more appropriate than those listed. If
you honestly believe your specific hot buttons need adjusting from those that
are listed, please make those adjustments now by either rearranging the
priority sequence or removing and replacing any hot buttons you feel may be
more appropriate for your business.
By
using these guidelines, you can create persuasive marketing messages that
address your ideal clients’ needs and motivate them to buy from you. If you do
this really well, you will find yourself attracting more clients in a short
amount of time. Click to see more helpful info for small businesses... www.readtheanswer.com/index.php?RTA=web2
