Money

Your Buyers Aren’t Rational, and That’s Okay. Here’s Why…

Bill Faeth
Posted on August 3, 2018
Pursue the clients who have discretionary funds to spend and who will spend it to be comfortable. ©iStock.com/ Tom Merton
Pursue the clients who have discretionary funds to spend and who will spend it to be comfortable. ©iStock.com/ Tom Merton

One of my friends is a female professional in her mid-20s. Recently, she traveled to Henderson, Nev. for a workshop.

This was her first business trip traveling solo. She had the freedom to decide her modes of transportation. When she returned, I asked her to explain her travel choices during her four-day getaway.

Her story represents perfectly the type of client limo operators need to stop going after through sales and marketing efforts. Here’s what she told me…

“When I flew into the Las Vegas airport, I went to the taxicab pick-up area and just grabbed a cab. It was late. I was tired. So I just wanted to get to my hotel as soon as possible.”

Why Convenience Ranks So High In Consumer Choices

Convenience drove her first buying decision of the trip.

“My biggest complaint about taxi services though is the rate meter,” she added. “I have to sit there in the passenger seat and watch the cost of my trip grow until I reach my destination.”

She’s cost-conscious, despite using money her boss provided to her for the duration of her trip. “I learned my lesson after the taxi ride and used Uber whenever I needed to get somewhere I couldn’t walk to in Henderson.”

Her primary reasons for using ride-hailing services were the cost and convenience of them. However, she doesn’t enjoy either option.

“I’m an introvert, so I’m extremely awkward when I meet new people. So any situation where I have to spend 10-15 minutes with a random person is an uncomfortable one for me.”

What can we learn from my Millennial friend’s thought process? A lot.

Which Luxury Transportation Buyers Should You Pursue?

First things first; my friend isn’t a rational buyer. She could easily overcome the inconveniences of taxi cabs and TNCs by booking airport transfers with luxury ground transportation companies. But she doesn’t.

If she were to stack up the facts of each option and evaluate them for 30 minutes, she’d realize that. But like her 20-something counterparts (and every other segment of the human race), she is not a rational buyer.

You aren’t either. And neither are your prospects. That being said, we can assume people like my friend will not be ready to use luxury services for at least five to 10 years. She still values saving money over living comfortably.

Go after the affluent market.

Pursue the individuals who have discretionary funds to spend and who will spend it to be comfortable.

Some Really Good News For The Luxury Limo Industry

According to the most recent Survey of Affluence and Wealth by yougov.com, spending on luxury goods and services increased by 6.6% over the previous year.

This is great news for the chauffeured transportation industry!

Once you acknowledge there is (and likely always will be) a market for your luxury services, you can begin to understand how to market it across any platform.

Your clients don’t want to buy your service. They want to buy a feeling.

Master advertiser David Ogilvy said, “People buy things that make them feel better about themselves.”

If you’re like most of the operators I come across, you’re selling vehicles, chauffeurs, and duty of care.

You’re saying and writing phrases like “exceptional service,” “professional chauffeurs,” and “reliable and safe transportation.”

What do the generic terms and descriptors mean for your clients?

Develop A Deeper Understanding Of Your Target Buyer

Instead of focusing on the “what,” communicate the “why” throughout your website, pitches, and everywhere you are present online and offline. In a 2011 LCT article, Dr. Jim Taylor, an expert on marketing and branding, suggested emphasizing control and quality of life with affluent consumers.

Develop a deep, intimate understanding of your target buyer. If you don’t know the emotional factors driving your ideal client’s buying decisions, you’ll never overcome revenue plateaus. You’ll fail to connect with new prospects or current clients, you’ll fail to scale your business, and you’ll fail to attain financial freedom.
As you consider the emotive aspects of selling your services, ask yourself the following questions:

1. What daily routines and career tasks does my ideal prospect have?

2. How can I position my services in relation to my ideal prospect’s daily life?

3. What are the top three motivators that guide my ideal prospect’s buying decisions?

This should give you a good start in shaping a new and improved marketing message and selling pitch. For examples on how to pitch affluent customers, see nearby charts.

Bill Faeth is the founder of Limo University (www.LimoGrowth.com), Inbound Marketing Agents (www.inboundmarketingagents.com), and 23 additional startups, including Silver Oak Transportation of Nashville, Tenn. As a successful former operator and active advocate for the industry, Bill continues to invest into educating and training operators on how to grow, manage and sustain a more profitable business. You can reach Bill at [email protected] For more columns and blog posts by Bill Faeth, click here.

Related Topics: Bill Faeth, building your clientele, client feedback, client markets, customer service, How To, luxury market trends, Profit Motives, revenue growth, wealthy clients

Comments ( 1 )
  • Anthony

     | about 9 days ago

    Most corporations have a travel department and they help their executives to get from one place to another. I would not call this 20s something female the typical customer we are looking for. When i fly into las vegas i arrive without a reservation for transporation as long as its not during the electronics expo or sema. I walk straight to the limousine service rep and get my ride to the hotel. While i dont agree with corporations pushing the uber/lyft taxi apps.. i educate my corporate customers on how its simply very dangerous to have a random driver that might be on the clock for 16 hours

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