Did you know that about 24% of all buyers are tightwads?
Which means that they feel SO much buying pain that they cannot spend money even if they want to (imagine!). The spending of money causes them a lot of pain. Actual pain, I am not kidding. This is a real thing.
So how can you sell to the tightwads?
The first step is to acknowledge the genuine pain that they feel in a buying decision.
Then, somewhat obviously no? Minimize it! Let me tell you how.
Tweak One: It’s all in the words:
Hold off on the big hairy, scary number. Instead, use things like:
“It costs 33 Naira a day” for N120
It’s easier for the tightwad to grasp the value of your product in this way.
Tweak Two: Baby hit me one more time NOT:
If you hit them repeatedly, for example, weekly, monthly or by piece…that’s a lot of pain! Bundle it up, baby.
For example, offer a yearly or lifetime membership price at a deep discount.
Tweak Three: The inclusion of a slam dunk bonus:
Bonus bundling is ridiculously common – 22 bonuses and the total value at N2billion or something silly, you’ve all seen it.
For the tightwad, all they are doing is breaking down all the bonuses and stressing their heads overpaying for bonuses they don’t want or need.
A slam dunk bonus is JUST ONE bonus but it is so exclusive and so alluring that it not only reduces the buying pain, it enhances the overall value of your product. Win-win
Tightwads are far less likely to be blown away by the sexiness of a product than by utilitarian terms.
So make sure you play to both – some people NEED that end result, not just the fluffy, sexy part. For example, a back massage as pain relief vs a pleasurable experience.
So remember, address that pain, don’t ignore it… Tweak away darlings!