I Just Wanted To Have A Relaxing Day

It was Memorial Weekend, I had planned on watching the first 2 episodes of “Band of Brothers” and relaxing in the back yard for the day.

My wife had other ideas for me though.  With a smile and her, you better not cross me tone, she pointed out that the yard needed my attention. 

So I turned on the TV recorder, fired up the lawn mower and headed out for the north forty.  Well, about 15 minutes later I came across a fallen Eucalyptus branch and the section of fence it took out when it fell.

So I realized I was going to need some 4 by 4 posts, treated-pine planks, nails, a bag of cement and whatever else to fix the fence.

While rubbing my aching back on Tuesday morning I realized my weekend experience followed the classic sales pattern.  This was a textbook study for a course in marketing/sales theory.

Initially I was happy as could be.  No amount of salesmanship could have convinced me I needed 4 x 4’s or pine fencing.  I had a perfectly good fence as far as I knew.

Then I realized I had a problem that needed to be fixed.

I knew what had to be done and I had several options to choose from in order to solve the problem.  Which is where the marketing came into play.

Which hardware store do I choose from?  Do I go to a lumberyard because they’ll have the wood and hardware I need?

Do I hire someone to do the job for me?  (Not much chance of getting that past my wife, unless I want to discuss a new kitchen.)

Maybe the entire fence is rotten and needs replacing?  Sounds expensive, but that was somebody’s sales opportunity to convince me it was worthwhile.  (“An upgrade will increase your resale value.”)  (“You’re going to be replacing this fence piecemeal for the next 2 years.”)

As it turned out I went to my yellow pages and made a few calls to see what they had in stock and what they could do for me.  I didn’t even ask about the cost.  I was looking for convenience more than anything else.

I finally chose a hardware store because 1) it had the lumber and supplies I would need and 2) it had two additional items I could use; gopher traps and dandelion spray.

This scenario has implications for all of us working in the financial industry.  Your marketing program must take into consideration the fact that people only buy when they have a need.  I’m not going to buy 2 x 4’s and pine planks just to store them in my garage.  I’m only going to buy them when I need them.

But when I do need them, how will I know where to go and from whom to buy?  Businesses with products and services to sell have to keep their prospects informed of who they are and what they have available.  There is no way around this.  If you don’t market or advertise you might as well be invisible. 

The method you use to send your message is extremely important.  I went to my phone book to locate the solution to my problem.  I knew the yellow pages would have the information I needed, plus I had no intention of traveling around town making inquiries.

Additionally, the vast majority of purchases are emotionally based.  I didn’t care about price, I wanted convenience.  My decision was based on what I wanted not what I needed.  I wanted a one-stop shop so I could save time; one of the three most important factors affecting buying decisions.

All of this has implications for you and your marketing/sales strategy.

• Buying decisions are typically made on a when needed basis.

• Marketing must be pursued on an ongoing basis, so that when your prospect needs the service you offer your name is in contention, if not at the top of the list.

• The method you select to communicate your marketing message is critical to your prospect finding you when they need you.

• The vast majority of purchase decisions are emotionally based.  Price is not the primary motivator in most purchase decisions.  Convenience, time savings, knowledge, rapport are just as likely to be primary motivators in deciding who to purchase from.  Think about this before discounting your price.

The next time you make a decision to buy anything at all, (gasoline, food, chewing gum, anything) evaluate the process you went through prior to making your purchase.  This can be very enlightening and applicable to your own marketing and sales strategy.

Thank goodness my recorder was working, I had the opportunity to lie on my couch and watch “Band of Brothers”, what I believe is the best WWII series ever made.