We all have them. Things that we know we should buy, but just don’t. These are things that provide us improved quality of life, but also hit a physical or psychological raw nerve. Products associated with aging are often grudge purchases. Things like hearing aids, joint replacements and supported living arrangements.
Last year, I worked on a fascinating customer and commercial opportunity: prepaid funerals. Dying is the only life event that will happen to absolutely everyone. Most understand that it is accompanied by stress and pressure for those we love. Yet only a tiny percent of people actually pre-organise their funerals. Those that do, think about it for 7-10 years before actually purchasing. That is the longest purchase cycle of any product I can think of.
The simple answer is that all grudge purchases need easy, seamless and supportive solutions that are driven by deep customer insight. Our work uncovered the motivations, triggers, barriers and behaviours of target customers. This research supported the development commercially viable products and processes.
If you are interested in discussing how to support commercial opportunities based on customer insight, please book time to chat with me.
Comments