The entrepreneur’s dilemma: you have a great product or service. You love your business and truly believe in what you offer. You know it can help your customers.
But why are they not buying?
What does this mean? It means you are talking to the wrong people about your product or service.
Let’s look at a few factors that are involved in wrong targeting.
A. THEY CAN’T AFFORD
People who can’t afford what you are selling
In my book, 7 Steps to Better Sales Results, I share a story of a time when I was selling dresses that I was ordering online from U.K, I had this wonderful idea of selling high-quality products to people who can’t afford them.
After all, everybody wants and deserves high quality, not so?
That was mistake number one. I call this trying to sell Foschini quality at PEP stores pricing. There is nothing wrong with PEP stores and there is nothing wrong with Foschini.
They both sell clothing. However, they target different demographics. You can find a dress in PEP stores going at $15 (K150), and you are likely to find a dress in Foschini at $60 (K600).
Customer targeting is done through the definition of target audience demographics and psychographics. Wrong targeting can lead to poor sales results.
In the example above, the detailed customer profile of a person who regularly spends $15 (K150) on dresses is different from one who spends $60(K600) on dresses.
B. YOUR PRICE IS TOO LOW.
Your Items are not expensive enough for them
I wish more small business owners could remember that it’s not always about lower price. I wish I knew this earlier in my business, but hey, nobody starts out knowing everything.
There are shoes selling for $200 or K3,500 right here in Zambia and people are buying them. Do you think those people are interested in some “affordable shoe” going only at $15 or K150?
Think again.
Choose who you are going to target and stick to that. This gives you the confidence to face complaints about quality or price. If you are offering the $10(K100) range, you will know that some people will not like the quality. If you choose to go for the $500 range, you will know that some people will complain about the price. But since you know who you are targeting, none of this will bother you.
C. THEY DON’T NEED IT.
They don’t need it badly enough. You might be talking to the wrong people when they don’t need your product badly enough to want to pay for it.
For example, a beauty model is likely to be willing to spend big sums of money on beauty or skin care solutions. This might not be the case with others.
The reason, of course, is simple, one makes a living based on looks while the others don’t.
So, are you targeting your customers correctly? In my book, 7 Steps to Better Sales Results, I have gone into details about the demographics and psychographics one must consider when defining their customer. I have also given an example of how to apply these definitions using an example of an entrepreneur in the service business.
REASON #2: LACK OF TRUST 
Imagine I am at the gas station or what my friends and I call the filling station. A young man comes around selling USB flash disks. I remember that I actually need one. However, I am reluctant to buy.
What would make me reluctant to buy in such a case?
I don’t trust the seller. I have many risk-related questions going on in my mind regarding the seller and the product he is offering.
Such questions could include:
What if the USB storage capacity is not really 8GB as it says on the label?
What if it doesn’t work, where will I even find this guy?
Lack of trust is one of the major reasons why people don’t buy a product even when they need it.
Trust building and risk reversal are the key to overcoming this problem.
REASON #3: THEY DON’T KNOW YOU EXIST
Here is the no-brainer.
How will they buy from you when they don’t even know you exist?
I can bet you that if you have a high-value product, there is someone looking for you and what you offer but they simply don’t know that you exist.
What are you going to do about that?
We have covered the three reasons why your customers are not buying. These are:
Marketing to the wrong audience.
Lack of trust in you as the seller or what you are offering.
Ignorance of your existence.
If you can systematically work on each of these points, I promise you will see the difference.
Would you like private consultation to transform your marketing and sales?
Would you like me to run your ads and give you GUARANTEED sales leads? INBOX.
WHEN CUSTOMERS ARE NOT BUYING.
The entrepreneur’s dilemma: you have a great product or service. You love your business and truly believe in what you offer. You know it can help your customers.
But why are they not buying?
What does this mean? It means you are talking to the wrong people about your product or service.
Let’s look at a few factors that are involved in wrong targeting.
A. THEY CAN’T AFFORD
People who can’t afford what you are selling
In my book, 7 Steps to Better Sales Results, I share a story of a time when I was selling dresses that I was ordering online from U.K, I had this wonderful idea of selling high-quality products to people who can’t afford them.
After all, everybody wants and deserves high quality, not so?
That was mistake number one. I call this trying to sell Foschini quality at PEP stores pricing. There is nothing wrong with PEP stores and there is nothing wrong with Foschini.
They both sell clothing. However, they target different demographics. You can find a dress in PEP stores going at $15 (K150), and you are likely to find a dress in Foschini at $60 (K600).
Customer targeting is done through the definition of target audience demographics and psychographics. Wrong targeting can lead to poor sales results.
In the example above, the detailed customer profile of a person who regularly spends $15 (K150) on dresses is different from one who spends $60(K600) on dresses.
B. YOUR PRICE IS TOO LOW.
Your Items are not expensive enough for them
I wish more small business owners could remember that it’s not always about lower price. I wish I knew this earlier in my business, but hey, nobody starts out knowing everything.
There are shoes selling for $200 or K3,500 right here in Zambia and people are buying them. Do you think those people are interested in some “affordable shoe” going only at $15 or K150?
Think again.
Choose who you are going to target and stick to that. This gives you the confidence to face complaints about quality or price. If you are offering the $10(K100) range, you will know that some people will not like the quality. If you choose to go for the $500 range, you will know that some people will complain about the price. But since you know who you are targeting, none of this will bother you.
C. THEY DON’T NEED IT.
They don’t need it badly enough. You might be talking to the wrong people when they don’t need your product badly enough to want to pay for it.
For example, a beauty model is likely to be willing to spend big sums of money on beauty or skin care solutions. This might not be the case with others.
The reason, of course, is simple, one makes a living based on looks while the others don’t.
So, are you targeting your customers correctly? In my book, 7 Steps to Better Sales Results, I have gone into details about the demographics and psychographics one must consider when defining their customer. I have also given an example of how to apply these definitions using an example of an entrepreneur in the service business.
REASON #2: LACK OF TRUST
Imagine I am at the gas station or what my friends and I call the filling station. A young man comes around selling USB flash disks. I remember that I actually need one. However, I am reluctant to buy.
What would make me reluctant to buy in such a case?
I don’t trust the seller. I have many risk-related questions going on in my mind regarding the seller and the product he is offering.
Such questions could include:
What if the USB storage capacity is not really 8GB as it says on the label?
What if it doesn’t work, where will I even find this guy?
Lack of trust is one of the major reasons why people don’t buy a product even when they need it.
Trust building and risk reversal are the key to overcoming this problem.
REASON #3: THEY DON’T KNOW YOU EXIST
Here is the no-brainer.
How will they buy from you when they don’t even know you exist?
I can bet you that if you have a high-value product, there is someone looking for you and what you offer but they simply don’t know that you exist.
What are you going to do about that?
We have covered the three reasons why your customers are not buying. These are:
Marketing to the wrong audience.
Lack of trust in you as the seller or what you are offering.
Ignorance of your existence.
If you can systematically work on each of these points, I promise you will see the difference.
Would you like private consultation to transform your marketing and sales?
Would you like me to run your ads and give you GUARANTEED sales leads? INBOX.
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