{"id":11716,"date":"2020-10-20T17:02:05","date_gmt":"2020-10-20T17:02:05","guid":{"rendered":"https:\/\/generaltranscriptionworkfromhome.com\/blog\/?p=11716"},"modified":"2023-05-19T01:05:11","modified_gmt":"2023-05-19T01:05:11","slug":"understand-why-people-spend-money","status":"publish","type":"post","link":"https:\/\/generaltranscriptionworkfromhome.com\/blog\/understand-why-people-spend-money\/","title":{"rendered":"Understand Why People Spend Money"},"content":{"rendered":"\n

If you can understand why your audience opens their wallet to buy, you can trigger them to do so whenever you want them to.<\/p>\n\n\n\n

If are serious about marketing, you have to understand how to evoke emotions in your audience that encourages customer loyalty and purchasing.<\/p>\n\n\n\n

In fact, emotions are often more important than other factors when consumers make decisions.<\/p>\n\n\n\n

When creating marketing messages — especially those that trigger emotions — it helps to understand the reasons why people spend money in the first place. Here are some of the emotions that motivate people to buy.<\/p>\n\n\n\n

1. People Spend Money to Portray an Image<\/span><\/h3>\n\n\n\n

People want others to perceive them in a certain way. That need often drives them to buy things to help them keep that image, not only for others to see them that way but also to see themselves that way.<\/p>\n\n\n\n

2. People Spend Money to <\/span>Avoid a Bad Feeling<\/span><\/h3>\n\n\n
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Whether they think that they\u2019ll miss out on something awesome, or have some other bad feeling, avoiding a bad feeling is a powerful motivator to buy something. If you can show how your product or service helps your audiences avoid a bad feeling, they\u2019ll be more likely to buy.<\/p>\n\n\n\n

Levitin explains why spas, revitalizing creams, supplements, and you-deserve-it type products and services sell well: \u201cRevitalization products promise exhausted consumers a mental, physical, and emotional uplift they\u2019ll happily pay big bucks for.\u201d<\/p>\n\n\n\n

3. People Spend Money to Gain or Earn Freedom<\/span><\/h3>\n\n\n\n

A good example is a housekeeper or virtual assistant. Is a housekeeper selling a clean home, or more time? Is a virtual assistant selling document processing or more time? If you can be clear about what it is you\u2019re really selling, you can entice your audience to buy from you more often.<\/p>\n\n\n\n

4. People Spend Money to Fit in With the Community<\/span><\/h3>\n\n\n\n

Everyone likes being part of a community and part of the \u201cin\u201d crowd. If making a specific purchase will make them more of a part of the community, they will make it happen.<\/p>\n\n\n\n

5. People Spend Money to Get Instant Gratification<\/span><\/h3>\n\n\n
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People like getting what they want when they want it. If you can offer them an instantaneous way to give them what they want, they will most certainly take the bait. The important thing is to deliver on your promises.<\/p>\n\n\n\n

An example of instant gratification is an ebook they can download right away or a course they can access immediately.<\/p>\n\n\n\n

6. People Spend Money to Gain a Sense of Power<\/span><\/h3>\n\n\n\n

When people buy something they view as potentially life changing, they feel powerful and in charge of their lives. If you can offer something super special that solves a very specific problem and evokes feelings of power in your audience, you\u2019ll have a winner on your hands.<\/p>\n\n\n\n

7. People Spend Money to Prove or Gain Self-Worth<\/span><\/h3>\n\n\n\n

Some people, maybe people in your audience, lack self-worth and need a way to get it. If you can offer them that feeling when they buy your products or use your services, you\u2019ll sell a lot.<\/p>\n\n\n\n

8. People Spend Money to Solve a Problem<\/span><\/h3>\n\n\n\n

One of the most obvious reasons people spend money is to solve a problem. Show them how your product or service solves their problems, and they\u2019ll buy from you when the price is right.<\/p>\n\n\n\n

9. The #1 Emotion You Want to Trigger<\/span><\/h3>\n\n\n\n
Trust is the one emotion that makes your audience want to give you money. Money is very personal and your audience must trust you to give you some of it. Here's how to earn that trust.<\/pre>\n\n\n
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Getting your audience to trust you is the most important emotional marketing trick that you want to exploit and get right. If you can get this one thing right you can explode your business.<\/p>\n\n\n\n
Developing trust is a process; it\u2019s a long-term marketing strategy that will pay off again and again. When you get just one person to trust you, they will tell ten others, and those ten others will each tell ten more people. The trust will spread far and wide until the very mention of your business name will mean trust. Ok, maybe it won\u2019t go that far, but you never know.<\/p>\n\n\n\n
It\u2019s important to study your audience so that you know how to trigger these feelings within them, and know which ones they use when they choose to buy. <\/p>\n\n\n\n
If you can find the trigger that keeps your audience from saying no, you\u2019ll explode your business beyond your wildest dreams.<\/strong><\/p>\n
RECOMMENDED READING<\/strong><\/h3>\n