Written by: Vickie Sullivan | February 20, 2014
The Deal Behind the Discounts
I love a bargain. But I don’t like to have sales conversations with those looking for a bargain. (Yes, I see the irony.) But this study by Experian dives inside the mind of a bargain hunter and can give us insights as well.
Look past the business-to-consumer focus. Do we talk to folks who want a bargain but don’t want to be inconvenienced by giving something up? Or give a discount to someone and they still don’t buy? Sure we do. Knowing what motivates our buyers helps us forge an arrangement that benefits both sides.
The biggest surprise: 34% are called “deal indifferents.” They will not change their behavior because of a discount. Which begs the question: do we give discounts to those who will take them but are not motivated to act? Do we assume that everyone wants a bargain?
In this slow recovery, it’s easy to believe that everyone is looking for the best deal. What I’ve found: there’s a difference between wanting a discount and being price sensitive. The former wants a deal; the latter wants to get what they need first. Then they will look at price. Big, big difference.
Here’s the link to the study (free registration required).
Other Resources You Might Like:
- B2B Marketing Trends That Change The Game
- What To Do When Buyers Compare You To Low-Cost Alternatives
- Talking To Strangers