building trust or shaving the deman curve

Trust is like a fragile vase - once broken, it's difficult to piece back together.

It depends on the product and the business whether you need to build a lot of trust before a customer buys or not. Much is determined by the product.

If the purchase price is absolutely low, the possible loss is bearable and the benefit is still welcome. If it is high, the buyer will have many questions, will seek information from others and may want to test first.

If the purchase price is low, it is not necessary to invest in building trust first. An online ad or in the newspaper may be enough to activate customers. You can simply ride the demand curve.

It's a different story for high-value or complex products. Here, it only helps to invest in trust long before a purchase decision is due.

For mid-priced products, the situation can get a bit tricky. This is because you may not be able to afford to invest much in building trust. You need to find customers who have a really big pain point, or are willing to make quick decisions.

So the go-to-market options will be heavily driven by price. You might be able to make life easier for yourself by making a decision about whether to sell your product in one piece or in slices. Renting instead of selling. As a kit. etc.


2023-08-11