Marketing research has divided consumers into three groups, with approximate percentages for each:
1. Tightwads = 25%
2. Spendthrifts = 15%
3. The average consumer = 60%
The tightwad will tend to be a tougher sell, the spendthrift an easier one. But what are the best ways to sell to the average consumer?
The best ways are to understand their pain points and their price pain.
Know Your Niche
By pain points, we mean the kinds of problems people have in relation to your niche, which they are looking for real solutions for. A good example would be a person who has just gotten a new puppy and needs supplies, has training issues and wants to keep the puppy healthy and happy so it grows into a well-trained and well-behaved dog.
Offer Real Solutions
All shoppers want real solutions to their most pressing needs. If you offer quality and value, and your item really works, they will not only try; they will buy it over and over again.
Be Competitively Priced
Average spenders have a good idea of their budget, and are willing to spend to buy what they need. If your price is on a par with that of your competitors, you should have no trouble selling to them.
Be Enticing Enough to Lure Impulse Purchases
Make your sales material "sexy" enough to seduce even the most sensible shopper into giving your product a try. Shoppers buy based on emotion and then justify their purchase with logic, rather than the other way around. Any product that offers them a better life in some way is sure to sell.
Make It Easy for Them to Do Their Research
If a sales page is vague about the features and benefits of a product, this leaves room for doubt in the consumer’s mind as to whether it will be the right choice. A well-written sales letter will speak to the emotional needs of the target audience, but will also provide factual information to satisfy even the most practical buyer. Size, weight, height, composition/materials and other specifications can all help you sell physical products more easily.
The Question and Answers section under each physical product Amazon sells is a clear indication of how detailed a shopper’s search for information can be. It also allows real people to give real answers. This helps the consumer know what life will be like for them once they buy the item. Capture this in your sales letters as well, and you should have a winner on your hands. Consider creating how-to and demonstration videos to do this even more effectively.
Understand That Consumers Are Tightwads about Some Things and Spendthrifts about Others
Value and price are two different things in the minds of consumers. In many cases, we might find a consumer is tight-fisted about certain aspects of their shopping and much more impulsive when it comes to other items.
For example, some consumers might clip coupons like crazy and shop at every sale like a vulture, but go for massages, spa treatments, manicures and so on.
Price and perceived value also differ significantly. Some people see the products they buy as an investment. For example, it’s great to want to own two dozen pretty designer handbags, but a high-quality purse large enough to hold your tablet computer is a significant savings and can also be used for any occasion, including job interviews. Similarly, men may love t-shirts, but if they haven’t got a work wardrobe for their job, it’s better to invest in one good suit.
The average consumer is always looking for products that make their lives easier and really work. Price yourself on a par with your competition (even if your product is better) and you should have no trouble making sales.