Purchase

The Inevitable Scarcity Effect

Garth Beyer

If you think the scarcity effect doesn’t play a role with your product or service, you’re wrong.

If there are two cookies left in the break room, we’re unconsciously motivated to desire one even if we didn’t want a cookie to begin with. Have you ever heard someone say “I had a sweat today and I’m not even sweet-tooth kind of person.” Scarcity played them.

If only five people in your organization could try a new product out – one you wouldn’t normally use – you would still sign up to try it out.

There is a shortage of grapefruit La Croix in the office today and all the sudden it’s my favorite flavor La Croix. Damn scarcity effect.

People don’t have a choice but to be victim to the scarcity effect. Are you leveraging it?

 

Stay Positive & Make Your Product/Service Scarce In Small Ways

Sellers Need A Lesson

Garth Beyer

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I went to purchase a motorcycle over the weekend. While I wasn’t as knowledgable as the salesman at the motorsports store, I knew as much about the specific bike that I wanted as he did. Because I researched it and knew as much as him, he couldn’t upsell it.

The flaw with knowledge equilibrium between salesperson and customer is that the only connection remaining is price. There is nothing he can say to make me purchase the product other than giving me a number I want.

The catch is that if a customers knows more, they will pay less.

Dealers of all kinds need to spend the morning before work reviewing what has been posted online. The beauty about information when it comes to selling is that if the motorcycle salesman were to know as much as me, but told me they just read something about the bike online earlier that morning, I would certainly be more interested.

At the most simple form, it just shows the salesperson cares about the product, not just about selling it to anyone without half a mind to research before making a purchase.*

 

Stay Positive & Consider Buying Privately

Garth E. Beyer

*The internet is now the salesman. While there are still people with that title, their duties are much different. They are there to make a connection, show they care (about the product and you), and be the liaison of trust.

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