As a matter of fact, people don`t buy what they need. They only buy what they want. The only time people buy what they need is when they need and want such a thing. Need alone never motivates people to buy.
You must be able to identify what people need and want or what people want. If you`re offering what people need and want, you will have a prosperous business.
If you are offering what people want (even if they dont need it), you will still have a successful business, but dont ever go to the market with what people need and dont want. People dont buy what they need. They only buy what they want.
Let me explain.
Our needs are things useful or good for us. Our wants are things we want to buy or use.Sometimes we dont know what is good for us, so we dont care about paying for it and some other times we want what is not good for us and we are willing to pay for it.
Let`s take this practical example.
Motivational books (books on human relationship, leadership, finance, business etc.) are very good for us and every African youth needs to read at least two of such books every month, but do they want such books?
Will you sell much of these books if you advertise to them?
You know the answer.
But think about this
Hip-hop music is full of nonsense, nudity and useless songs. We don`t need such songs, yet our youths want them, so the hip-hop (demon-possessed) singers are making much money.
The above example should show you something.
Dont sell things that people need or dont want. The best thing you can sell are things people need and want.
When we started forming WhatsApp groups to educate people about profitable business idea in Kenya, our primary target was the African youths between the ages of 18 and 30 and to be frank, these are the people who need our message and business ideas and advice articles the most.
These are the people who are just becoming adults and people within their first decade in adulthood.
These are the people who, though they have certificates, they are jobless or are not earning enough money.
Most people in this age bracket are young, strong and singles, so they have much power to change whatever they want to change about their lives.
But guess something?
Most people within this age bracket don`t want to hear that there are no jobs.
Somehow they want to believe there are many good jobs waiting out there for them.
These people don`t want you to tell them that they can be business owners, if truly they want to be rich.
Though these people need our message and business ideas and advice articles, they dont want it. Its too bitter for their taste.
We tried for some years and even wasted money along the line, so as to get our message across to the people in this age bracket, but we failed and wasted our time and money.
We had to change our strategy.
Its painful but thats what we did. We now target people who are between the ages of 27 and 50.
If you are between 18 and 22 and I tell you, “Hey, jobs are scarce. The era of good jobs is gone. Be an entrepreneur”, you are likely to see me as a mad man.
But if you are 30 and I tell you the same thing, even if you will think I am too extreme in my assumption, you will agree with me 70% because you have probably finished school, searched for jobs many months or got an underpaid job, so I can have a chance to prove myself to you.
I want to hope you are getting my teaching here?
We, as entrepreneurs have to understand that people don`t buy what they need. They only buy what they want, so the best thing for us to sell is that thing people need and want.
While selling things that people want but don`t need can make you rich, some of such things are usually not good and may be sinful.
Take for instance people dont need cigarette but they want it. They dont need alcohol or bhang, yet they want them and are willing to pay much for them.
Should you then sell such things?
No.
Instead, sell something that people need and want.
How do you know what people need and will be willing to buy?
Research who you are about to sell to. Who are they? What do they know? How do they think? Where do they work or play? What are their values, interests and passion?
If you know people, you can predict what they will be willing to pay for.
Don`t just sell what people need. Sell what they need and want to buy.
That`s how to make much money in the business world.
