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Have you ever wondered why people buy a particular product or service? Understanding the basic motivations which drive your customers to buy a product or service is crucial to creating the types of products or services that they want to buy. In other words - if you don’t get your customers you also won’t get their money (to put it bluntly).

A few days ago we listen to Tim Knox advice us on the importance of selling what your customers want or need. We now turn again to Tim as he offers us suggestions on how to determine what it is that they want or need:

Tim Knox On The Real Reasons People Buy (02:47)

I think the key word that can summarize this process is “psychology”. You need to get into the mind-set of your customer-base. What is it that they really want? Are they stressed out by all the work that they have to do? Do they find that they have no time? Are they under financial stress? By pinpointing their real problems you can then come up with products and services that really meet their wants or needs.

An excellent example of this is a book called The 4-hour Work Week. I heard an interview with the author of this book in which he explained that most people don’t understand why they want to be rich. It’s not the money that people are after, but rather the life-style. As such, he says, people should think about how much money they need to live the type of life they want and then organize their life in such a way as to achieve that goal.

Now, I’m not here to evaluate this book or it’s message (I myself have not read the book). What I do want to note, though, is how clever this book is. The author understands something about why people want money. This has allowed him to write an extremely popular book (the 53rd bestselling book at Amazon.com as of the writing of this post). So it is (I imagine) with many products or services. Understand the fundamental desire and motivations of your customers and you can create products and services that they will love to buy.