Alternatives Satisfice Better Than Your Product/Service
Five Alternatives That Prevent Your Customers From Buying
I have a foam roller that I use when my back gets creaky. It's a pretty inexpensive device, if you don't have one. Maybe $30.
It feels great to use after a workout...but if I'm really sore, I get the temptation to buy a massage.
Foam roller- nice.
Massage- divine.
I would argue a massage is more than three times as good at getting that weird knot out, plus it's an experience: I always walk away feeling transformed. A massage, however, is a one-time experience and at least three times as expensive. It also requires booking in advance, traveling to the place, and then traveling home.
How often do I actually buy a massage?
Almost never.
Satisfice, the mashup of satisfy and suffice, is when you accept the less-ideal solution because the difference in cost to obtain the better solution is just a dang hassle.
When my back needs attention, I could take the inexpensive foam roller that's in my own home and get some relief now OR I could pay $120 (plus tip) to book an appointment and wait a few days and then walk/drive and spend time waiting in the waiting room.
I'll just use the foam roller, thanks.
This reality of alternatives gets ignored ALL THE TIME. Entrepreneurs get hung up designing better massages and spending marketing dollars on differentiating themselves from other massage studios while their market foam rolls on their own.
Some of these alternatives are ALWAYS present. Here's some alternatives every business has to compete against:
Status Quo: Doing nothing at all and not taking a risk with your product/service
Delay a Choice: The same as Status Quo, but using the excuse, "I'll deal with this later."
Self Sufficient: Solving their problem on their own using YouTube tutorials
Existing Network: Asking a friend or family for a favor or to borrow something
Use More of What I Know: Using an existing alternative more (i.e. more foam rolling vs. buying a massage)
What's a common foam roller to your massage, i.e. product or service? How do you convince people they need what the massage can deliver? Is your product/service advertising next to the foam roller aisle to lure people to your product/service?
If you're realizing that foam rollers are eating your lunch, join the conversation on LinkedIn:
