THE ROLE OF GREED IN CUSTOMER BUYING BEHAVIOR
I once paid $200 for a bundle of digital resources I didn’t use until after a year.
It was from a marketing guru I respect a lot.
I hurriedly swiped my card without any hesitation.
You could literally see a grin on my face after completing my purchase.
Thinking about it now…
It felt like I was spellbound
By a force I couldn’t control…
Yet it felt like I had won a jackpot.
How exactly did he do that?
How did he get me to buy something I didn’t need immediately?
I’ll tell you
But before I do… I need you to understand a fundamental principle when it comes to customer behavior
Your customer doesn’t want a Win-Win scenario.
They want to ALWAYS feel like they’re getting the best bargain for their money even if this means ripping you off
Read that again!
It’s just human nature to want more
More money
More possessions
More influence
More appeal
If you know how to tap into the powerful emotion of greed…
You’ll have customers latching on to your offers like sugar ants.
But remember…
Just throwing in scores of bonuses without paying attention to what your buyer really wants will NOT work
Bonuses should NOT create the impression of more work. Instead they should play the role of catalysts
So ask potential buyers…
Run polls…
Find out what they really want.
It could be more for the same price (BOGOF)…
Extra support…
More convenience…
Or just a bunch of tools that help them get results faster.
Don’t just think juicy bonuses or bundles…
Think added value services too.
Sometimes… less is more!
When you uncover what your buyer really wants… apply the same spell that got me to buy
It will work in virtually ANY context provided you get your offer right
It’s BARGAIN + FOMO
FOMO is the fear of missing out
We’ll talk about that next
Stay tuned.
In the meantime… how will you apply this in your marketing?