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The Monday Morning Memo

How We Decide to Purchase

June 10, 2019

| Download
https://podcasts.captivate.fm/media/f08543cc-3316-4c2b-99eb-584b80e32a32/MMM20190610-HowWeDecideToPurchase.mp3

Amateur ad writers assume everyone makes decisions based upon the same criteria they use. This causes them to unconsciously frame their messages to reach people exactly like themselves.

Professional ad writers frame their messages to speak to the felt needs of a specific consumer.

People are multi-dimensional. We make decisions to purchase based on a variety of criteria, but two of the big ones are Time and Money.

“Time and Money are interchangeable.
You can always save one by spending more of the other.”
– Pennie Williams

  1. A person who feels they have no money and no time is buried in financial and relational obligations.
  2. A person who believes they have more time than money is a bargain hunter.
  3. A person who has more money than time is overworked and highly paid.
  4. A person with lots of money and time is looking for something to do.

Consciously or unconsciously, every ad is framed to speak to one of those four perspectives.

It isn’t really about whether we can afford to spend the money. It’s about whether we FEEL we can afford to spend it. A person may feel they have the time, but not the money, to purchase a product in one category, but later that day feel they have the money, but not the time, to purchase a different product in a different category.

We evaluate messages – news, information, and advertising – based on Relevance and Credibility:

  1. Relevance: “Does it matter to me? Do I care about this?”
  2. Credibility: “Do I believe it?”

A message high in relevance but low in credibility is hype.
“I would be interested if I believed you.”

A message low in relevance but high in credibility is a tedious waste of time.
“I believe you, I’m just not interested.”

Are you speaking to the felt needs of your customer, or are you speaking only to yourself?
Are the things you’re saying believable, or do they sound like unsubstantiated hype?

Identity Reinforcement and Self-Expression:

We buy much of what we buy to remind ourselves – and tell the world around us – who we are. A surprisingly high percentage of purchases are about self-expression.

We bond with organizations that show us a reflection of our best self-image. When we perceive that an organization shares our outlook and our beliefs, we prefer them and their products.

Win the heart and the mind will follow. The mind will always create logic to justify what the heart has already decided.

Indy said to tell you “Aroo,” and that he’s waiting for you in the rabbit hole.

Roy H. Williams

The indispensable Tim Miles and rollicking Ray Seggern – highly accomplished Wizards of Ads – will be joined by the beloved Dr. Richard D. Grant August 21-23 to explain How to Get and Keep Customers. Real techniques. Real success stories. Real progress. You should plan to be here. – Indy Beagle

The wizard’s Art Marketing Workshop is taught only once every 5 years, even though aspiring artists who attend that class always say it changed their life. Are you tired of people admiring your talent and paying you compliments, but too few of them are paying you any money for your art?
ART MARKETING – August 7-8

Do you have a son or daughter, grandson or granddaughter between the ages of 12 and 16?
YOUNG WRITERS WORKSHOP – July 17-18

Richard Kessler was the engagement ring King of Wisconsin for 35 years and his radio commercials were legendary, as were his Kesslers Diamonds stores. One of the earliest and most popular guests ever on Monday Morning Radio, Richard recently retired from the jewelry business and is now pursuing other interests. But the techniques he used to build Kesslers – including the implementation of an employee stock-ownership plan – are priceless gems. Roving reporter Rotbart assures us his latest conversation with Richard is pure gold. No pun intended.

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Random Quote:

“Back in the days when print was scarce, only one printing of the Bible was widespread at any given time, and people knew it by heart. Its mistakes became celebrated. In 1823 when the Old Testament appeared with the verse And Rebekah arose with her camels – instead of damsels – it was known as the Camel's Bible. In 1804, the Lions Bible had sons coming from lions instead of loins, and in the Murderers' Bible of 1801, the complainers of Jude 1:16 did not murmur, they murdered. In the Standing Fishes Bible, the fishermen must have looked on in surprise when the fish stood on the shore all the way from Engedi to Eneglaim. There are dozens of these: the Treacle Bible, the Bear Bible, the Bug Bible, the Vinegar Bible. In the Sin-On Bible, John 5:14 exhorted the believers not to sin no more, but to sin on more!”

- Barbara Kingsolver, The Poisonwood Bible, p.533

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