Tips to Help you Decide When is it time to buy
The last several weeks I have been receiving messages about when it’s time to invest to help your business grow. Invest like buy programs, trainings or hiring professionals. For twenty plus years I have been helping my clients grow and manage their business. Many reach the point like you have where Free and low cost services are just not enough. Have you reached this point and wonder when is it time to buy?
First narrow down why you haven’t already. Many fear online scams. Others are confused about differentiating what appears to be similar products and services. Like you, they have asked “What do you buy from who ” and “when do you know it’s time to buy” ?. Since many inquires were from my Periscope followers, I did a Periscope broadcast about this. In reviewing the comments on ScoperChat the next day, I ran upon a forum post entitled Scammers on Periscope. While the poster was using some top scopers as examples for the mindset services they offer, this was right in line with many of my clients fears. And Mine. Probably yours too.
My broadcast from the day before actually gave suggestions on how I helped a client decide if it was time to buy his Free Demo he had. I felt obligated to reply to the forum post as it does relate to my clients and followers like you. Instead of retying what I posted I decided to copy it below.
So here it is:
Hi Dr Zoo!
I did a Periscope yesterday on a very similar and related topic. It was entitled:
“When do you know it’s time to buy“
I have received many questions surrounding buying products/services:
- Whom to buy from
- When it’s time to buy their product/service.
- How to determine if the price is worth it
While I did not name drop I tried to shed light on how I determine when it’s time for me to purchase and how I have helped my clients in various business niches make a decision. I explained the overall decision is of course the business owners but at times we need clarity in our decisions. Similar to your suggestion, we have to determine if the purchase is made out of a need or passion or simply an impulse.
Money blinds us in both spending and receiving.
In the client’s case of a physical product, which is an extremely expensive product (10s of thousands). He was able to test the equipment for 30 days with no obligation. During this time, he was able to communicate with customer service, get a feel of the equipment as well as see an increase in revenue from the equipment.
It was important to itemize all the good as well as all the bad regarding this purchase. The increase in cash flow was a blinding signal, we had to determine if the overall increase prompted for an increase in bottom line revenue as well. We had to determine if the extra work force, the training time, and the expenditures for the equipment (supplies, cost ect) were actually worth both time and cost of the equipment.
How this approach helps with digital/virtual services or product decisions.
Starting with the end in mind. Many (but not all) courses and services offered across the world wide web come with a guarantee. Many do not offer the fine print until the actual purchase is made. This is where the “bad rep” comes to play. One purchases the service under a “false feeling of winning the lottery” as you put it, then realized the service was:
- Too difficult for them
- Not really what they needed
- Too expensive to implement
- Took too much time to learn
- Didn’t meet their expectations
Based on any or all of the above, a refund is requested: Then denied due to the fine print. The fine print stated in some cases “you must do what I do”: Ahhh the bigger picture. They spent $5,000 in ads, they spent 10 hours a day on social media, they hire someone to do graphics/copy write, they use 5 other monthly services costing $10-100 each, the list goes on and on. However, since you didn’t do what they did, you don’t get the refund.
My suggestion was based on simple clarity.
The basis of internet marketing is to build an email list based on the value we offer our opt-ins. Many times we offer a lead magnet, free gift, freemium, extremely low cost item, ect for exchange of the opt-ins email address. Sometimes it may be nothing more than a simple free 1-page PDF relevant to the solving the problem. Other times it may be a free webinar packed full of valuable tips or solutions to the opt-in’s problem.
My suggestion is to virtually weigh what they received in relation to the time it took to “get the problem solved”.
For instance, the PDF gift, for the entire time it took them to learn about the free gift (periscope, email, blog article), sign up for it, read it and implement it…. was it worth the time?
If the optin spends a full hour on a free webinar where 10 minutes was a solution or tip, the other 50 was a sales pitch, they have to determine if that one single solution was worth an hour of their time.
Finally, how much value has the seller already provided. Do they share daily tips or solutions? Are they pitching you every time they communicate or actually giving value – Think Emails, podcasts, video training, Periscope, SnapChat, Social Media feeds, ect.
These are usually a good indicator of the service/product you will receive when you decide to buy. Generally, if I receive a 10 min video tip and a PDF I don’t expect the upsell product or service to be more than $10-50, in some cases maybe $100.
If I receive daily communication, tips or something like a free mini course over say a 7-day span, I expect to pay more if they give that much away. Based on what I have purchased in this style; it has ranged $300-1000.
To an extreme side, last year John Benson held a “Hangout-athon” for his program launch “Sellerator”. I believe it was 10 days and it was live webinars on Google Hangouts on Air. Yes, LIVE with Q&A too. The FREE golden nuggets he dropped were worth paying for! So needless to say, after doing this for a week and half, I knew the price would be higher. When the $2,000 popped up for this program, I felt what he would offer inside the program was worth every dime! Oh and the bonuses were worth double!
I follow all three of the broadcasters you mention (Alex Khan -#WeKhan, Dana Garrison – LoveTribe and Shawn Thomas- Ask A Millionaire® and others you have not. These particular broadcasters offer mindset services over products (other than Shawn’s eBook). This is important. It takes a while, a long while, to change someone’s perspective on anything. It involves changing habits, creating new positive actions but most of all, implementation. While it is a lot easier to follow a step by step guide on making an image, it’s a totally different creature to change the way we think. Most think if they did it I can too… but then they don’t. This is usually because they will not change their perspective on mindset, thus fail again.
Since yesterday’s broadcast I have received more questions around “whom to buy from” when several offer what seems to be the same type product/service. While some of their concerns are answered above (value vs time), I do plan on an upcoming broadcast to help narrow this down even further.