Have you ever left the mall with spontaneous purchases? Do you wonder why you bought those items? Or maybe the opposite is true for you. Do you work in sales and struggle to meet your quotas? These things may seem out of your control, but don’t get down on yourself just yet!
Please keep reading, my friend. Understanding buy buttons will make and save you money! This information can give you an edge over other shoppers and retailers this holiday season and forever!
I recently had a conversation with Elizabeth Wickham on her bleuwater blog post about the depth of character, both fictional and real life, that is created when wants and needs are defined and understood. She writes about thought-provoking subjects. If you don’t already follow her, you really need to check out her site! This post about buy buttons was prompted by the discussion she and I had in relation to her article.
Understanding buy buttons will make and save you money
What are buy buttons?
I am using the term “buy buttons” for this post. The phrase for the idea might be coined by me, but the concept is certainly not. I learned these principles in a sales class I took decades ago. It has been so long that I don’t remember the exact terminology used, but I have banked (pun intended) on this information for many years and utilized it repeatedly to both make and save me money.
Buy buttons are the triggers which prompt you to open your wallet. They are wired to the needs and wants you have, both physical and emotional. Let’s back up and differentiate between needs and wants.
Needs are things you must have to survive. These are basic but crucial. Examples of needs would be air, water, food, shelter, and a means by which to obtain them. New shoes can be a legitimate need, if you must wear them to work and your old ones have fallen apart.
Most of what people call needs are actually wants. Anything over and above what is needed to survive is a want. There is not necessarily anything wrong with desiring more, nicer, and newer things, but be honest about what they are. Needs and wants are too often confused. You might think you need a new pair of shoes to match a new belt, but that is a want if you have other shoes to wear.
Where are your buy buttons?
Your buy buttons lie in the areas where you are most likely to make spontaneous decisions with your money. They are where your wants feel most like needs. Below are 5 pressure points upon which buy buttons may be found. The order of their importance varies from person to person. You may favor one or a combination of them. As you read, try to identify where yours might be.
The buy button of urgency has a time sensitive component. Do phrases like ‘last-chance’, ‘limited-time-only’, and ‘1-left-in-stock’ quicken your pulse? When you decide to sleep on a purchase decision, do you lie awake all night wondering if you missed out? If so, you have a buy button which is triggered by the perception of urgency. And you’ll want to hurry because, today only, I’m waiving the membership fee on the Back Porch! (Just kidding, it is free to follow this blog, so please subscribe!)
If you simply cannot pass up a bargain, then you probably favor this buy button. A great deal is prey of the bargain hunt. Do you get a rush from haggling at a garage sale or using double coupons? Are you giddy about clearance racks and bargain basements? Does it bring you joy to find out you paid less for something than your neighbor did? Then you have a bargain buy button.
Do you pursue things that make you feel safe? You know you tend toward a buy button related to security, if you value things like solid construction, high safety ratings, and gadgets for emergency preparation. Your fences are sturdy and you have the best home alarm system you can [almost] afford. If you are consistently willing to go over budget on purchases to include the newest proven safety features, you have a buy button related to security.
You might suspect this buy button is a main one for you if you like to have the best. Does it make you happy when people admire the things you flaunt? Are you motivated to purchase items more for the prestige of ownership than because you are excited to use them? Are you drawn to things that are advertised as ‘rare finds’ or ‘one-of-a-kind’? If terms like ‘unique’, ‘custom’, and ‘elite’ catch your attention, the buy button of prestige is one of yours.
Are you sentimental? Do you hold on to the past and enjoy refurbishing old things? Will you invest in quality workmanship which should stand the test of time? An activated sentimentality buy button will compel you to pull out your money to remember the good ole days or to create something unforgettable for the future. If antiques and nostalgia are precious to you, and you can’t put a price on making memories which will last, you have a sentimentality buy button.
Knowing about buy buttons can make you money
When you sell, you can rely on buy buttons. Whether you are trying to resell a single item you have, or you own an entire store, knowing about buy buttons can make you money. Once you identify a customer’s buy button, you can tailor your pitch to steer them toward a product that will trigger it. You make the sale and they feel good about their purchase. It is a win-win!
Let’s take a gym membership for example. If you work the sales desk and a potential customer mentions living in the gated community across the street, you should find out more about that. Do they live there for prestige? For security? Those would be the most likely assumptions. But don’t assume!
I live in a gated community. And believe it or not, my input on that decision was driven by bargain. The house was the most affordable in the area which met the needs of my family. If you were trying to sell me a gym membership according to the prestigious club or the secure facilities, you would not likely get my money. I don’t quicken toward either of those buy buttons. But, if you could convince me that you have the best prices in town, you might hook me. And that brings me to my last point.
Knowing your buy buttons can save you money
I love a good bargain. I have a daughter who is hopelessly sentimental. I have a son who enjoys prestige and a husband who wants his family to be secure. We know this about ourselves, and it has saved us money!
When you know your buy buttons, you will realize when a salesperson is pressing them. Also, you will understand your compulsions and be able to anticipate and manage them. Exercising power over your buy buttons will save you money.
I have developed self-talk in relation to my primary buy button. When I pass bargain counters and clearance racks, I remind myself that if I didn’t need those items at full price, I don’t need them at their sale price either. If I purchase an unwanted item worth $100 at a sale price of $5, I didn’t save $95, I wasted $5. Knowing my buy button has saved me an inestimable amount of money!
What are your buy buttons?
Have you learned anything about yourself? What triggers your buy buttons? Do you understand some of the curious purchases you’ve made? Have you thought of new angles for selling products to others? How might an understanding of buy buttons make and save you money?
“The plans of the diligent lead to profit as surely as haste leads to poverty.”Proverbs 21:5