Personal MBA: Barriers To Purchase

Personal MBA: Barriers To Purchase

Why does your sales pitch end in a no? According to Kaufman, it’s because you’ve given up too quickly, and you haven’t sufficiently addressed your customer’s specific barriers to purchase. After all, Kaufman explains, they wouldn’t be talking to you if they weren’t at least a little interested. Kaufman points out five standard barriers to purchase:

  1. It costs too much. Loss Aversion (discussed later) makes spending money feel like a loss—by purchasing, the prospect is giving something up, and that naturally makes people hesitate. (Some people even experience this sense of loss after they make a purchase decision, a condition called “buyer’s remorse.”)
  2. It won’t work. If the prospect thinks that there’s a chance the offer won’t (or can’t) provide the promised benefits, they won’t purchase.
  3. It won’t work for ME. The prospect may believe that the offer is capable of providing benefits to other people but that they’re different—a special case.
  4. I can wait. The prospect may believe they don’t have a problem worth addressing right now, even if it’s very clear to you that they do.
  5. It’s too difficult. If the offer takes any effort whatsoever on their part, the prospect may believe that their contribution will be too hard to manage.

These barriers made me think of my own business, The Tin Society. I have 600 pipe smokers who have expressed interest in my service and have permitted me to pitch them. Currently, my email list is severely underutilized, as I only use it for announcements. This section of has given me an idea to create a campaign with five emails addressing each barrier. I also plan to automate the campaign for new email signups. I’ve read somewhere else that customers typically need 5 to 7 “touches” before they are willing to make a purchase decision. These emails would make five and Instagram, and Facebook posts will constitute the others. I hope that this strategy will produce more subscribers and longer subscription lengths. Sufficiently addressing each of these barriers should do a great deal to convince potential subscribers of the value of my service.

Facebook
Twitter
LinkedIn