Let’s say you have a pair of shoes to sell.
You have two potential customers.
One currently owns 100 pairs of shoes.
The other owns 1 pair of shoes.
Who is the most likely buyer in this scenario?
Your first instinct may be that you don’t have enough information. And you’re correct.
I didn’t define what kind of shoes they were, what size they were, or what occasion they were for. Nor did I say whether these customers had money and were looking for a new pair of shoes.
What if I changed the scenario and said you were selling a set of golf clubs?
One customer already owns 5 sets of golf clubs.
The other owns 0.
Which one is the most likely buyer?
Again, you don’t know if they’re specifically looking for golf clubs right now.
But in both of these scenarios, all other things being equal, the person who already owns ‘too many’ of the product is the most likely buyer.
It’s a tough road to sell someone what you think they need.
It’s much easier to sell them what they want…especially if they’re passionate about it.
And they telegraph their desires by how they already spend their money.
To give you an example, I’m an infoproduct junkie.
There’s no use denying it.
I have a stack of books in the ‘soon to read pile’ and I have multiple online courses I’ve probably forgotten the login addresses for.
If I get just one good idea to test out of a product, it’s a good investment.
And business-related content is not the only place I’m an info-junkie!
If you had a good info product on one of my interests, would you rather sell it to me or someone who doesn’t even own any books (not even a Kindle)?
Yet, it’s unlikely I ‘need’ it.
Are you selling to an addicted buying audience?
On average, 80% of your income comes from just 20% of your customers.
And in many businesses, 50% of the income can come from just 5% of the customers (the 20% of the 20% best buyers).
One of the keys to success is tapping into a market that has a high lifetime customer value.
That means customers buy multiple products from you. They ascend your price funnel. They join your continuity offer. They buy from you for years or even decades.
Yes, you can make money in a one-and-done market. Even there you can look for opportunities to raise the customer value or joint venture with others.
But I’d much rather be in a market where customers love buying. Wouldn’t you?
One of bonus PDF’s in my Internet Lifestyle System is a 10-point Scoresheet that helps you evaluate the ‘Addiction Buying Factor’ of a potential audience.
Wouldn’t earning money be a whole lot easier if you found a market full of hyper-responsive customers with credit cards in hand?
And not only buyers, but those who implement your systems and see results. They’re loyal, give testimonials, and send referrals.