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💡 Business Tip - Don't Trust Opinions (Issue #49)
Money clarifies intent
Actions speak louder than words.
People will tell you they'd be happy to buy… until it's time to actually pay. Then, poof! They’re suddenly no longer interested in purchasing.
“Actually, I think I’ll wait and see if I can figure it out myself.”
“I don’t have enough money to buy right now. Maybe later?”
“Sorry, I thought I could afford it. Can you give me a better deal?”
I love talking with customers and potential clients to learn more about who they are, what issues they’re dealing with, and what might help them. But it’s tricky to ask questions about purchase intent.
I remember listening to a podcast episode about this issue. They gave an interesting example of measuring interest and purchase intent with a button to buy a product, but it wasn’t actually available yet. Instead, the buy button took people to a page to add their names to a preorder list.
So, that button wasn’t measuring intent. It literally measured a willingness to purchase right now!
Now, I don’t think I’d recommend using this strategy very often. You’ll just annoy people! But you can do something similar by providing waitlists, preorders, etc. to find out which products people are most interested in purchasing.
For example, if no one wants to get on the waitlist for a specific offer, you should find out what’s not working. Or, if you’re trying to decide which of several services to launch first, early sign-ups will tell you.
I’m Larry Cornett, a coach who can work with you 1-on-1 to design, launch, and optimize your business. You might also be interested in my “Employee to Solopreneur” workshop. I live in Northern California near Lake Tahoe with my wife and Great Dane while running my businesses 100% remotely.