Friday, February 15, 2008

The more complex the product it is, the more information is necessary

This is a very important point in term of marketing. In each customer decision there is a risk. This risk is of course to have a product that would not meet his expectation, or that he doesn't need, or even that is not the best for the same price.

Depending on different factors, the risk will be higher or lower. For instance, buying a home of $200 000 will offer a higher risk rate than buying a $40 book about Asian philosophy that you know you have some chances to never read.

And therefore, the role of the marketer is to lower the risk, in order to facilitate the decision making process of the customer. How to do so? Well, one of the main one is to inform the client, with easy to consult and to get information.

The goal is to have an equation where the risk level will be equal to the information level needed to make a decision.

Therefore we have at our company, (as we are selling mortgages) a large range of communication tools we give access to our clients. The important is to have a multi canal communication allowing the customer to have all the information they need, whether it is borchures, websites, blogs or provided during seminars. We want our customers to feel secure and well informed in order to have take the best decision as possible.

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