After an hour of traffic, I wanted out of my car. I noticed the gas gauge near empty. Perfect. A quick stop to fill up and I’ll check email, Twitter and texts. I drove past the first gas station. They’re a bit pricier than the one down the corner. I put on my turn signal as I got closer. There were three cars waiting in line.
“Crap. I should have gone to the other place. It was empty.”
I didn’t want to wait. I drove over to the next town. Eight minutes later I pulled into the station and filled up.
All that extra effort to save five cents on gas. That comes to sixty cents savings on twelve gallons.
People often make stupid decisions, myself included. We use absurd logic.
Was the sixty cent savings worth an extra ten minutes of my time?
I lost ten minutes of my day to save sixty cents on gas. Yet, I would never think twice about spending five dollars on a latte.
Today I drove ten minutes out of the way to spend an extra four dollars a pound for organic coffee beans.
It’s NEVER About Money.
Why waste so much time and effort to save 60 cents on gas? Then, spend more time and money to buy exotic coffee beans?
Emotion Trumps Reason
Yes, it’s true. Even if you consider yourself the logical type, emotion drives your behavior. You justify that behavior later with logic.
Emotion drove my decision to save five cents on gas. I see gas as a commodity. I’ll be damned if I’m going to let someone charge me more than the fair price. That’s why I refused to buy at the more expensive station. It came down to a desire for fair treatment.
Emotion drove my decision to spend more time and money on coffee beans. I’m a coffee snob. I crave high quality and organic beans. I’m willing and eager to spend more time and money to meet my craving.
Would a cup of Folgers give me the same emotional pleasure? No way.
When Price Shoppers Forget About Price
Customers who price shop, do it for one reason. They see your offer as a commodity. Even commodities can escape the price shopping mentality.
Show how you are different. If nothing makes you different then do something to make you different. What can you do that your competitors don’t? In the digital marketing space, we often add quick private consults. You can hold weekly webinars for Q&A. These things take effort. Most competitors shy away from anything that adds effort.
Whatever you choose, make it concrete and specific. Avoid abstract terms like experience or overall value.
Even my friends at the pricey gas station could do it. They could check your oil or clean your windows, just like the old days.
Last year I bought a new car. The salesman showed me their swanky lounge area. He said “Guys come here on Saturday afternoons just to escape and hang out.”
At that moment, I decided to stick with that dealer. That one line took me out of price shopper mode.Read More →