Home » Articles » 17 reasons why people put their money on the table

17 reasons why people put their money on the table

why people pay

The right question that every entrepreneur should ask himself is: Why will people pay me?

First understand why people would pay and then find out how you can capture that value with a strong business model.

 1) Like a Boss

People want to look professional. You need to make them feel like a real businessman when using your product.

Suits star Harvey Specter

Example: Windows Vista
You don’t want to be that manager/sales lady/… who
opens up Windows Vista “Home Basic” instead of “Business” in a meeting, right?

2) Being part of the Mob

People want to belong to a group, something bigger. And yes, they are ready to pay for that.

Example: founderscard.com

A €495 membership to get access to exclusive perks for entrepreneurs. They provide their members with access to networking opportunities and premier benefits. Smart, isn’t it.

3) People hate to lose things.

When yout Gmail inbox is full, you just refuse to sort out thousands of mails to see what can be deleted. You just pay.
Starting at 5$ per year for 20Gig.

4) Mystery and Thrills

People love to experience and discover new things.

Example: Zynga Farmville

spart farmville business model

What’s in the box? To discover the contents gamers could spam 10 friends or pay 20 Farm Coins.
($10 = 55 Farm coins).

Great technique.

5) Collection Completion

People love to complete a set when possible. The 3 fonts version might be satisfying for you, but when there are 16 variations in total some people will just buy them all. Just to be sure and for the sake of completeness.

6) Able to control privacy

In some websites this feature is paid and some people pay for it.

 7) To speed things up

download faster

Many file sharing services use this technique. Users must pay if they want to download with higher speed, to avoid waiting or to remove the download limit. Internet users hate waiting, so they are willing to pay.

8) Focus on exclusivity

Another successful strategy is to let users be first. Make them feel VIP. For example some gamers pay to play unfinished games only for the right to experience the game first.

 9) Let user personalize their experience

The more personalization options you add, the more successful your product will be.

 10) Give users the ability to control

Example: Appmakr.com

This app iphone builder offers Premium users the ability to add custom lines of code and to tweak the HTML.

11) People will always pay for convenience

The user pays you and you (or your app) does the rest. The user doesn’t care anymore and knows that everything will be professionally done.

12) Add enough time pressure

Limited time only offer. If you don’t buy for 2 hours you will miss the deal of you life 😀 .

13) People want to limit negative feelings.

Many people still buy music from iTunes ,because it “feels right”. They don’t think it’s fair to download music from the torrents.

14) Some people like to brag or show off.

Mostly men. We buy the most expensive car only for the swag.

A good example is the I am Rich app. Several people actually paid $999.99 to have an app that does nothing more than showing a red diamond, just to show off.

The iOS I am rich app

 15) People like to get insights

insights

Especially if we talk about business.

16) Let people communicate/ connect

Facebook is experimenting with paid conversations (if you want to message strangers).

17) People want to get notified

Example: unfollowed.me

Some people pay to get notified when people unfollow them on twitter.

And of course the big boom will be if facebook allow a paid option for users to see who views their profile.

Even if your company is not in the digital business you can still use very effectively the ideas in this article.

The full presentation of Board of Innovation where you can find a more detailed explanation of the given examples.

Source and motivation for this article: http://www.entrepreneur.bg/4038/17-prichini-poradi-koito-klientite-slagat-parite-na-masata/

The right question that every entrepreneur should ask himself is: Why will people pay me? First understand why people would pay and then find out how you can capture that value with a strong business model.  1) Like a Boss People want to look professional. You need to make them…

Review Overview

User Rating: 3.91 ( 9 votes)
0

About Georgi Dyulgerov

Georgi Dyulgerov

Founder of fTutorials.com - the website aiming to keep you in touch with the latest technologies in the brand. Also a Freelance web developer.

Check Also

all browsers wallpaper

Advantages and Disadvantages of the Internet

There are many debates on whether internet and rapidly advancing technologies are a good thing, ...

Leave a Reply

Your email address will not be published. Required fields are marked *


Loading Facebook Comments ...