The psychology in making a purchase is both simple and complex. It’s simple, because each element of the psychology is easy to understand. However, actually using it in real life and business can be pretty complex.
The most important elements behind the buying psychology?
Emotions and logic.
Buy on Emotions, Justify It with Logic
Does anyone buy a Mercedes because it logically makes sense? No – they buy a Mercedes because of the way they believe they’ll feel when they are driving the car. The luxurious feel. The envy from others. The sense of pride, of power.
Then they tell themselves, “I’m buying it because I need to impress clients.” Or “I’m buying it because if it helps me land just one deal, it’s almost paid for itself.”
The reality is, however, buying decisions are almost always made on desire. That’s from the gut, not the brain. Only after a strong desire has led to the decision, is logic then used to justify it.
How can you as a businessperson use this to your advantage?
First of all, one of the most important skills you can master as a marketer is the ability to create desire. If you can instill a sense of excitement, of urgency, of tangible desire to own your product in your potential customers, your ability to sell will go up dramatically.
The other thing to take away from this principle is how important it is to help lay out the logic your client needs to justify the purchase. If you can explain why they’ll make their money back from their investment, you make it much easier for them to give in to their desire to own the product.
But first, the desire.
The Importance of Believability
Marketers and salespeople often try to make huge claims. It can seem as though they’re in a competition to see who can create the most outlandish story.
The most important thing in getting people to buy isn’t making big claims… it’s getting believability.
If I could convince you that I could show you how to make an extra $1,000 a month for a small additional effort, all it would cost you is $50 and you believed me 100%, how likely are you to say yes?
On the other hand, if I tried to convince you I could make you a million dollars and you didn’t believe me, how much would you pay me for that?
The most important thing really isn’t how big a claim you can make, but what your customers believe.
Desire is built on claims people believe. If someone really believes their lives can be better, they’ll get excited. Logic is also built on claims they believe. If someone really believes that buying that new Mercedes is worth the investment, they’re much more likely to spend the money.
The psychology behind buying is in some ways simple. It’s also a skill that can take a lifetime to master. All you have to do is get people to want your product, and then remove the logical reasons why they shouldn’t.