Each pain point refers to a specific problem your customers are facing. Ideally, you want to position your product or service as a solution to that problem.
And here’s the thing about pain points: really understanding them is what makes or breaks your deals.
In this episode you’ll learn:
- Why people buy
- Loss aversion
- Service Opportunity Indicator
When you are selling products or services, it is important to know why people buy. Marketing, sales, operational infrastructure, and customer service should be constructed with the consumer purchasing perspective in mind.
Loss aversion is not as simple as looking at how people hate losing. Instead, it’s how people hate losing more than they like winning. In other words, it focuses on how people hate losses more than equivalent gains.
This can lead us to fearing loss, even when that fear isn’t justified. The idea of just losing out can make us commit to, or invest in, something.
In the end, finding your customer’s pain points will serve as an indicator that you can help their business to innovate a solution or cause the business to grow exponentially.
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