Understand why your customers buy
February 13, 2009 3 Comments
I had written a previous post on making it easy for customers to buy your product. If your pricing structure is complex, a customer who was about to hand over the money to you is going to walk away. I call this the “last mile problem” in selling a product. Pricing structures sometimes are very complex that even sales people have trouble understanding them.
If your folks cannot understand them, do you think customers will get it? It is your responsibility as a product manager to make sure this is executed well. Do you have too many SKU’s that are interdependent on each other with complex discounting structures that your price book looks like a bowl of spaghetti? Time to take action.
But this is the last step. It is even more important to understand all the reasons why your customers buy – what are the rationale and emotional reasons they are looking for a product like yours. Susan Oakes on her M4B Marketing Blog has a very good blog post on the importance of understanding your customer’s buying reasons.
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Image: Courtesy of Lewes District Council, UK.