Business Strategy: Scientifically Backed Copywriting Tips
What does business strategy mean to you? If you are like most business owners, you want to implement great strategies. But there’s one catch…Your time is limited. You can only do so much. In other words, you want to get the most bang for your buck. You want to minimize your opportunity cost. Copywriting is a great way to do that. Investing time (or money) in copywriting might cost a little more than other business strategies, but you will generally get more of a return. You wouldn’t leave money on the table, would you?
1) Time > Money
What is one of the toughest challenges in business today? Competing solely on price. It’s a thankless job, and it makes it tough to retain loyal customers. All a competitor has to do is swoop in with a lower price and they will siphon your clients away from you. That’s why you should compete on other things. Quality is one of them. Another one, often overlooked in the world of copywriting, is time. The blog Copyblogger opines:
“Here’s something you should know … if you’re using precious real estate to chest thump about your low prices, you’re doing it wrong. Not only has research shown us that asking customers to directly compare prices is a bad idea, but new research from Stanford University has revealed that selling “time” is far more effective (for most businesses) than selling money. We know that customers are willing to pay more for exceptional service, but you also need to understand that they’re willing to pay your prices if you speak to them in a way that shows you value what they hope to achieve, which is far more genuine (and effective) than trying to sell them on bottom-dollar prices.”
Just because a customer buys a product at a rock-bottom price, it doesn’t mean they got everything they wanted from the transaction. They have to ask themselves a few questions: Is the quality good? Did this save me time (or cost me time)? Did the product (or service) arrive at my house or business in pristine condition? Was the ordering process easy?
And that really makes sense. Let’s say your product is five dollars more expensive than your competition. All things being equal, your customers are going to choose the less expensive option. But things are not always created equal in the world of business. If you have a great website, a site that is easy to navigate, you might save your prospects 15 minutes of time. Will everyone pay $5 to save 15 minutes? No, they won’t, but some people will. Those are the people you want to target with this kind of copy.
Note the numbers are not important. You might be charging more of a premium, but you also might be saving more time. You would probably be surprised what people will pay for convenience, for extra time they can use to spend as they like. Time is a valuable thing. If you can save people time, recognize how amazing that is and tell your customers.
Copywriting has what some people like to call power words. This is a fairly simple concept. The basics don’t require too much explanation. The words: you, free, instantly, and new are scientifically proven to get sales and elicit more of a response from the reader. Always tell the truth, but insert them into your copy whenever you can. Use those words. Use them honestly. That’s all there is to it.
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