It goes without saying customers are no stupid. Customers have tested and used a lot of products from the same category. If 30-40 years ago a fridge was bought once for the whole life time, now a fridge serves from 3 to 10 years (I think so as I changed a fridge three years ago and am thinking of buying a new one next year). In the beginning advertising is the main source of information about a product. That was normal for my parents. I already refer to other sources besides pure advertising.
Still, different ratio for sources used refers to new and existing products.
While buying an absolutely new product recently released contemporary customers need more sources to learn the product is worth buying. Here is the way it works:
Today’s customers – I call them smart customers – look for friends’ opinions, reports from authorities, articles and information from public sources like newspapers, magazines, sales assistants’ advice.
These alternative sources are even more outstanding when the product has existed for some time and it is possible to get feedback on it.
All these hinder with advertising and make it somewhat less important in promoting a product.
5 Causes of Why Advertising Efficiency Drops.
5 Causes of Why Advertising Efficiency Drops – WHAT THEY PERCEIVE
5 Causes of Why Advertising Efficiency Drops. Cause I: Information Overload Deadens Ads
Tags: 5 causes, advertising, efficiency, marketing, why
February 4, 2008 at 16:33 |
curious … selling selling … see and be seen …. how to grab the ring … be the torch bearer … you might find my World Future Energy Summit post of interest … especially the ‘delegates’ list … talk about SELLING … ie. find the need and FILL IT … thanks for stopping by, will check back later … cheers, c
February 4, 2008 at 16:40 |
Sometimes, especially if your product is IP, a smart customer can find it for free online. From e-books to programs, it doesn’t matter.
That’s one reason I like Google so much. They basically built a billion dollar company off of the services they offer for free.
It’s difficult to protect your product, but hopefully the smart customer also realizes that it’s better to support businesses which they actually find useful.
February 4, 2008 at 20:21 |
Persistent,
I have made hundreds of thousands of dollars selling information products only in digital form. The key I found was creating unique sales materials and often unique products (though I have made almost $100,000 selling ebooks I collected from various reprint sites simply by creating a new concept or bundle.)
I have some methods to keep my digital products from being copied, and never found piracy to be a serious problem with my products.
My two cents.
Guerrillero,
Great blog.
February 5, 2008 at 05:39 |
canadada: thanks for passing by and prompting to see some posts of yours. i will!
persistentillusion: yeah, it is extremely difficult to protect your product these days. still, i know a lot of people who buy software and books they can get for free because they want to support the authors’ efforts and talent.
Aaron at FullTiltBlogging: Good for you! Probably IR protection is rising as a separate industry! A niche market ah?