(By Pat Bryson) When asked, “Why did you buy that?” most people either don’t know or won’t tell you. Our minds are emotional, not rational. 90% of our decisions to buy are made emotionally. Once we decide what we WANT to do, we use logic to justify doing it.
Minds also tend to remember attributes and things that no longer exist or are misremembered. Ever heard, “He has a memory like an elephant!”? I’m sure you’ve experienced this when you hear, “I used radio once and it didn’t work.” Maybe, maybe not.
Usually, when you probe this statement a bit, you find out that they don’t remember how long they were on the radio, how many ads they ran, which station they used, or even what their ad said. They just have a vague recollection that they weren’t happy with the outcome.
People also buy what they think they SHOULD have. Call it herd mentality. Risk plays a big part in how people buy and what they buy, following the herd reduces the risk somewhat. According to Jack Trout in “Trout on Strategy,” there are five forms of risk identified by behavioral scientists:
- Monetary risk – I could lose money on this.
- Functional risk – Maybe it won’t work or do what it’s supposed to do.
- Physical risk – It looks a little dangerous. I could get hurt.
- Social risk – I wonder what my friends will think if I buy this.
- Psychological risk – I might feel guilty or irresponsible if I buy this.
So how do we reduce the risk when we ask prospects to buy our campaigns? One way is to use testimonials. A good story about another business that has used us and has been wildly successful allows the mind to emulate the buying behavior of other people: those we often look to as being “in the know.”
If the testimonial comes from an expert in their field, that’s even better. We rely on the expert’s superior knowledge to remove our perceived risk.
Testimonials from satisfied customers can be powerful when told over our airwaves. They can also be powerful when we do short video clips and post their success stories on social media. This gives our clients added exposure and helps to establish us as “experts” in marketing. Success attracts success!
Endorsements by our announcers are also powerful tools. Our on-air people are the ones invited into homes and cars daily. They become de facto friends. Their recommendations can move mountains and merchandise!
Our job is always to remove risk and increase value. Understanding the five forms of risk mentioned by Mr. Trout and using the stories of successful advertisers to counter them can increase our revenue. Stories aren’t just for children anymore.
Happy Selling and Happy Storytelling!
Pat Bryson is the CEO of Bryson Broadcasting International, a consulting firm that works with sales managers and salespeople to raise revenue. She is the author of two books, A Road Map to Success in High-Dollar Broadcast Sales and Successful Broadcast Sales: Thriving in Change available on her website. Read Pat’s Radio Ink archives here.
