The Right Marketing Programs and Budgets for Heavy Scrutiny Offerings
Do you offer what Kristin Zhivago calls "Heavy Scrutiny"* items or "high-ticket tangible products and services"? A few examples of Heavy Scrutiny items are "sophisticated software programs, business systems… advertising in online and offline media, and complicated medical devices." Selling Heavy Scrutiny items is tricky as buyers ask endless questions, consult others, change their minds, delay purchases, or buy from a competitor.
Different types of offerings have different buying cycles, prices, and target markets, and each type of offering should follow a different marketing model. Zhivago recommends that marketers decide whether they sell Light, Moderate, Heavy, or Intense Scrutiny offerings and then develop a suitable marketing model and budget.
Marketers of Heavy Scrutiny offerings should:
As generating awareness costs more than answering questions, Zhivago recommends that sellers of Heavy Scrutiny products invest 40% of their marketing budgets in generating awareness and getting people to try the product. They should spend another 30% on their web sites and on answering questions, plus 15% to provide sales people with sufficient selling tools.
Allocating Marketing Resources When Selling Heavy Scrutiny Products
We can help you conduct qualitative studies that will help you understand what customers want to know, find out why customers bought, and explore other issues related to the buying process. Knowing why customers bought is more important than knowing which ad got them to buy, according to Zhivago.
*K. Zhivago, Rivers of Revenue: What to do when the money stops flowing, Smokin' Donut Books, 2004.
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