When the economy struggles, most companies are forced to reevaluate their marketing strategy. The key questions everyone asks are these:

  1. How do I get people to buy in this time of uncertainty?

  2. How do I get them to buy from me?

So what can you do? Here are a few ideas.

1. Don't sell features

Most companies emphasize the features of their product or service. That's like looking through the wrong end of a telescope. The fundamental principle of psychological marketing is this: “People do not want what you are selling.”

Instead, they want to satisfy a personal set of complex buying motivations, some logical and some emotional. That's why they buy.

Your product or service is just a means to get that satisfaction. For example, people don't want to buy a car radio, they want the entertainment and news it will give them. And they don't pay $50,000 to own a noisy, cramped Porsche Boxster sports car. They pay for the opportunity to go fast, look cool and appear rich while having fun behind the wheel.

Although features are important, they're primarily important as a way to convince buyers that the product or service will be able to deliver the benefits they really want. Features are the way to prove that you can deliver on your promise to satisfy their true buying motivations.

2. Just a little extra can tip the scale

Sign up for free to read the full article.

Take the first step (it's free).

Already a registered user? Sign in now.



Gary Witt, PhD, is principal of the Marketing Psychology Group (www.marketingpsychology.com).