In the world of sales and marketing, it’s important to understand your target audience and their buying habits.
By identifying these three major types of buyers, you can tailor your marketing approach to maximize success and increase sales.
In this blog post, we will explore each buyer type and highlight their motivations and preferences.
When you learn what makes your audience tick, you’ll be able to package up better offers and create a marketing messaging that forms real connections with people who are ready to buy.
1. Investment Versus Expense Focused Buyers:
This first buyer type has one of two mindsets. Either they see money spent as an investment or they see it as an expense.
The investment buyer is going to be motivated by the long-term benefit of the product you sell, and they are likely to view the price of your services as an investment.
On the other hand, the expense focused buyer may look at the cost of your program, and form an opinion based purely on whether or not they perceive the price to be expensive.
For these reasons, investment buyers are going to find high ticket offers more attractive than expense focused buyers.
2. Money Versus Time Buyers:
Some buyers have more money than time, while others have more time than money.
Money-focused buyers prioritize saving their valuable time over saving a few bucks. They are willing to pay professionals to handle tasks or services that they could do themselves.
In contrast, time-focused buyers prefer to invest their own time to save money. Identifying this buyer type helps you align your marketing message with their motivation.
3. Who Versus How Buyers:
Who versus How buyers assess whether they should learn a skill or task themselves or hire someone who specializes in it. These buyers understand that hiring an expert can save them time and provide professional results.
They prefer to rely on the expertise of others rather than spending countless hours, even days, learning something new. This buyer type is found in various markets, from plumbing services to business consulting.
Choosing the Ideal Buyer Type for Your Business
Why is it so important to know who the ideal buyer is for your business? Investment, money, and “who” buyers are more likely to be interested in high ticket offers, and high ticket offers are more likely to help you reach your business goals.
Here’s why high ticket offers are so important:
- Easier to Sell:
Contrary to common perception, high ticket offers are often easier to sell. Buyers tend to associate higher prices with higher value and quality. Moreover, high ticket buyers are more invested in the product or service, leading to increased commitment and attention.
- Bigger Client Transformations:
With a higher budget, you can deliver a more substantial client transformation. This allows you to harness your expertise and impact clients’ lives on a deeper level.
- High Ticket Clients are Easy to Work With:
These clients tend to be more focused on achieving results, and that really streamlines the process.
Conclusion
Understanding the three types of buyers and their motivations is a crucial step in developing an effective marketing strategy.
By identifying what’s important to your target audience, you can tailor your message and offer to meet their specific needs.
Additionally, considering high ticket offers can lead to easier sales, bigger transformations, and increased customer success.
If you’re ready to learn more about your target market, create an offer that matches your ideal buyer type, and close more sales…
Join us for the next Irresistible Offer Workshop and we’ll show you exactly how to do it. It’s absolutely free to attend. Just click below and reserve a spot:
