Years of hard work and preparation are behind you. You waded through data, patents, copyrights, and paperwork. You tackled the market research and technology head-on to get the website and branding just right. But now that your product or service is on the market, consumer response isn’t meeting expectations.
You know that what you offer is a great solution that would benefit your target market… So why aren’t they buying it?
Figuring out the answer to this question is the key to turning things around.
Common Reasons Why Customers Don’t Buy
1. They think they’re the exception.
Everyone is unique, which can make people assume their problems are unique. This may sometimes be true to some extent, but unless you’re selling to a highly distinctive clientele, their fundamental needs are usually fairly standard. In today’s culture of big business and internet anonymity, consumers want to be seen as individuals and have their problems understood and addressed in a personal way.
2. They think they don’t need what you’re selling.
Unless your offering uniquely satisfies a basic or emergency need, people may not always see the need for it. If they can’t clearly see what your product or service can do for them, why would they purchase it? Create personalized, genuine value propositions and make them obvious with concise, compelling explanations of the benefits.
3. Your price is too high.
First, look at your target market. People who need your product or service but can’t afford it aren’t in your target market. Are there enough people left? What do your successful competitors charge? If your prices are higher, are there obvious reasons why? Perceived value is one of the main factors when people decide whether to buy. Customers crave good value. That doesn’t necessarily mean they want cheap; it means they want to feel like they’re getting their money’s worth.
4. You’re considered inconvenient.
People take the shortest path—or at least the path of least resistance—to get where they want to go. Asking someone to drive further, subscribe to a newsletter, or fill out paperwork during the purchasing process may be the difference between making a sale or not. Streamline your process with customer convenience in mind. This also includes safety. Customers don’t want to be inconvenienced by having their credit card stolen or email account hacked. Take steps to ensure safe transactions.
5. They see the product or service as mundane.
The internet has flooded the market. Maybe your offerings have gotten lost in the shuffle. People are drawn to novelty. Why buy the generic brand of paper towels when you can get a brand with ridges and quilting? Think outside the box and make your offering stand out—but in a way that adds value, not in a gimmicky way.
6. They view you or your product or service as low-tech or behind the curve.
Technology, trends, and industry are moving at top speed these days. Is your brand and what it sells keeping up? This often goes hand in hand with convenience issues, especially where your online presence, purchasing process, or delivery methods are concerned. Does your website, logo, or other branding communicate to potential buyers that you or your offerings are outdated?
7. You’re an unknown brand.
An unknown brand means unknown quality and risk. People generally prefer not to gamble with their money when buying a product or service. Build your brand name by building rapport with your existing customers to encourage loyalty, increased purchasing, and word of mouth. Ask them politely to write quick reviews online or connect with you on social media to develop “social proof.” Customers have to get to know you, then like you, and ultimately trust you.