Nick James

Behavioural scientists say these are the five main reasons why people are put off from buying a new product or service. Knowing these reasons is the first step to helping your customers decide to buy from you.

The Five Reasons People Don't Buy

1. Monetary Risk:

"There's a chance I could lose my money on this."

A very reasonable concern I think you'll agree, one that almost all customers have.

Ways to overcome: Offer a money back guarantee. Show testimonials of satisfied customers. Offer a 30 day free trial. Lower the price so the risk of loss is minimal.

2. Functional Risk:

"What if it doesn't work, it's too complicated, or won't do what it is supposed to do?"

Ways to overcome: Provide a hands-on demo, so customers can see how easy it is to use. Let the customer 'test drive' the product so they can see how well it performs.

3. Social Risk:

"What will my friends and family think of me if I buy this?"

Ways to overcome: Include real testimonials from people who say that their friends and family thought they were geniuses after they got this product. Include names of prestigious companies or well known individuals who have purchased this product from you. ("If it is good enough for Clint Eastwood, it is good enough for me.")

4. Psychological Risk:

"I might feel guilty or irresponsible if I buy this."

Ways to overcome: Address this issue head on by including copy such as 'Don't you owe it to yourself to have this product?" "You work hard, you deserve to have something like this".

5. Physical Risk:

"It seems a little dangerous. I could get hurt."

Ways to overcome: Don't sell a product that might be dangerous or illegal. If your product is still considered a physical risk, include testimonials from people who have used the product and were happy, and include a demo or 'test drive' so the customer can see there is no danger.

Remember, you are not out to 'trick' or convince somebody to do something they don't want to do. Your goal is to help customers -- who already want to buy your product -- to make up their minds.

You do this by helping them resolve any questions or problems they may have when considering your product and offer.

Keep in mind that you are dealing with reality as the customer sees it. And you must address their concerns when you present your product and offer.

In fact, you should really address the customer's vision of 'reality' before you even start designing your product.

Taking into account the five reasons customers might not buy from you, before you design a product, might help you design 'out' the negatives customer's may perceive.

Remember, nobody 'has' to do anything. But when you work through customer objections and address the perceived risks, the customer might actually say 'yes'.

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