We are goal-driven creatures. Some of us may have goals to lose weight, while others may want to double last years revenue figures . Even children have goals, like riding without training wheels or crossing the street for the first time.What makes us different is how we choose to achieve those goals.According to a study done in 1997 by E. Tory Higgins, when it comes to hitting our goals, there are two types of people: prevention focused and promotion focused.
What is the difference between the two?
Prevention focused customers like to 'play it safe'. When it comes to reaching their goals, prevention focused people tend to lean toward the status quo and are loss averse. In the case of prevention focused people, maintaining is more important than gaining, thus explaining the 'play it safe' mentality.On the other hand, promotion focused customers are driven by achievement. They are the opposite of prevention focused people. Instead of looking to maintain status quo, promotion focused people look for opportunities to make positive advances towards their goals.So what do their actual behaviors look like? Consider the following example of a business owner that is looking to double their revenue within a one year period.(Click on each tab to view the list of behaviors)[az_tab_section] [tab title="Prevention Focused" id="tab1"]
- Is skeptical about sales pitches for new kinds of software
- Has a comprehensive growth plan that needs to be executed exactly as it is laid out
- Wants to grow existing customer base instead of reaching new customers
[/tab][tab title="Promotion Focused" id="tab2"]
- Can be overly trusting when presented with opportunities that will "increase" or "double their sales
- Cares more about the results than the way that it is execute
- Would rather prioritize expansion into new markets versus growing the existing customer base
[/tab] [/az_tab_section]It is important to understand which of your customers fall between either of these two types of goal motivations. Taking their motivations into consideration can increase the effectiveness of your marketing by using the right statements to appeal to each type of motivational focus.Although using the right statements can boost the effectiveness of your marketing, combining segmentation with framing can ensure that your brand really hits home with your target demographic.
Framing Isn't Just For Pictures
The way you present your products, or frame them, can also make a noticeable impact on your profits. There are two methods of framing your products: additive option framing (+OF) or subtractive option framing (-OF).Additive option framing, or +OF for short, takes the approach of starting with a base product and then presenting the customer with add-ons to increase the price of the product.Subtractive option framing, or -OF for short, takes the approach of starting with a fully-featured product and then presenting with the customer with the option to remove features to lower the price of the product.Product framing is commonly seen in automotive sales. Car websites that have do-it-yourself car builders often present users with a base model to start with, then give them the option to customize their cars by adding certain features. This is additive option framing.When you step a dealership, however, it is very unlikely that they have a car with the exact options that you want. Therefore, the car salesman will instead show you a fully loaded model first. Then, he may show you a few other models underneath that with less options. This is subtractive option framing.Combining Framing + Focus Segmentation To Boost Your PricesAccording to a study done by Cheng et. al (December 2013), there is an optimal way to frame your products to appeal to each type of customer focus.For those with a promotion focused mentality,
