No matter what you are selling – sporting goods, cookware, plumbing services – there’s an angle you can aim for that has proven to be strikingly more effective than emphasizing cost savings. What’s better than saving money? Saving time.
According to this Stanford Study, campaigns that focus on experiencing rather than possessing produced much more favorable results. Why? Time is a personal commodity that is more valuable than money. You can always make more money, but you can’t get time back.
Need a few ideas on how to apply this to your selling strategies? It’s important to first wrap your head around the concept of “selling time”. It could be time savings, for example your service saves the customer the hassle of doing it themselves, freeing up time to enjoy their family. It could be memories, like the kind that are produced when they play with your toy. It could be the emotions that are produced when they cozy up in your coat, relax by your fireplace, or sip on your cocoa. Think about selling experiences rather than products and services. Try to paint a picture in the shopper’s mind, with your brand being the catalyst towards those positive emotions.
There’s one exception to this powerful selling strategy though: prestige products. When it comes to expensive items, it’s about status. No one seeks a Lamborghini for “warm fuzzies”. Nor do they long for good times with friends when buying that Rolex. When it comes to prestige value, buyers care more about money spent rather than emotions.