In this Strategy Session we’ll be talking about buyer psychology, the three types of buyers, and how to sell to them.
Here are the three main types of buyers identified by neuroeconomics experts:
- 15% – Spendthrifts
- 24% – Tightwads
- 61% – Average Spenders
The psychology behind each type is fascinating, and understanding each one’s “buying mindset” will help you get closer to your customers, speak their language, and make more sales. 40% of people fall into wildly “irrational” categories, i.e. the spendthrifts and tightwads, which also means you’re potentially missing out on a lot of sales because most ecommerce sites focus on selling to the average buyer.
Understanding these three types of buyers and how to sell to them, along with a few tweaks to your site and copy, you’ll be able to capitalize on many more sales that might have otherwise been lost. In this episode, we break it all down for you so you can begin recapturing those buyers today.
Topics Discussed Throughout the Interview
- Breaking down the three types of buyers and how to sell to them.
- Why evaluating what buyer you are can help you sell better on your website.
- When to use negative emotion messaging vs positive.
- How Dave Munson at Saddleback Leather redesigned his website for analytical buyers and the results he achieved.
- When should focus 100% on one buyer personality vs generalizing.
Links & Resources
- 3 Types of Buyers – Neuro Marketing
- Tightwads and Spendthrifts
- 10 Ways to Convert More Customers Using Psychology
- Episode 19 with Dave Munson
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