Fun Business Fun Money Podcast
EP 029 – 8 money habits you need to know about your ideal clients
You AND your ideal clients have easily recognisable habits when it comes to money.
Love a discount or a good deal?
Hate having jump through hoops to find the price or ‘buy now’ button on a website?
Theres a good reason for all of them!
In this coaching episode we take a peek at what makes different personalities buy the things they want and need.
Plus some insights into why some of your customers or clients annoy you more than others during the purchase process.
KEY MENTIONS
Take the Sacred Money Archetypes quiz
Join the Sacred Money Archetypes program
Contact Deirdre via email, Facebook or Instagram
TRANSCRIPT
Hey there, and welcome back to the Fun Business Fun Money podcast!
I’ve got a really juicy money topic for you today, this one has been on my mind to share with you for a while.
It actually came up back in November 2022 around the Black Friday and Cyber Monday shopping frenzy that everyone talks about so much, and I decided I’d share this NOW so you’ve got a greater awareness of it when that time of year rolls around again.
And, of course, its relevant at ANY time of the year!
What am I even talking about?? Buyer behaviour. Specifically YOUR buyer behaviour and what triggers you to make the spending decisions that you make on the regular. And it has a LOT to do with your money archetypes.
Which is why, before I get into the details, it would be remiss of me NOT to mention that my Sacred Money Archetypes group program is back! Its always available as a standalone self guided course that you can purchase at anytime, but its back as a LIVE program beginning Wednesday 12th April 2023.
That means not only do you get the insights into your unique money personality so you can shift your relationship with money, you get to join the live Zoom Q&A calls with myself and the other group participants for on the spot coaching each week!
Those calls are absolutely a game changer for everyone, its a safe space to talk about money. We laugh, we commiserate, we talk about paying off debt and sorting out our taxes, and we talk about smashing the glass money ceiling and creating a brighter future for yourself and your loved ones.
I would LOVE to have you join us, you’ll find all the details and the link to sign up over at deirdreamies.com/sma or you can send me a DM, I’m @funbusinessfunmoney on both Facebook and Instagram, or send an email to hello@deirdreamies.com. You’ll find ALL those links in the description of this episode, and in the show notes.
Alrighty! What does your money personality say about your buying behaviour?
A LOT! Thats what it says!
At least, it says a lot if you’re aware of it. Most people aren’t, they just know they buy something because they like it, but theres a whole other level of ‘reasons’ why you spend money the way you do.
I’ve actually had a few moments of hesitation in sharing this one because I don’t want to offend anyone by calling out your spending behaviour, but thats also part of MY money behaviour. So I’m calling myself out on that, it can feel awkward and uncomfortable to really see how you’re interacting with money.
As I mentioned, this came up during last year’s Black Friday Cyber Monday tsunami of emails that hit my inbox. Every business and their fur baby (we can’t just say every man and his dog these days lol!) had something to offer, it was heavily discounted, it was a very limited time and there were endless bonuses attached to it.
Does that sound about right? They send out variations on these themes for at least a week before and a week after, oh look we’ve extended our special offer that never actually expired!
I find this whole thing FASCINATING to observe! I grew up in a small town in New Zealand where options were limited to one boutique clothing store, one small department store and the supermarket. If you wanted more variety you had to drive almost 2 hours to ‘the city’. To be honest it hasn’t changed much since then!
I have to say standing in a crowd waiting to bust the door down and fight off other shoppers to bag a bargain is at the complete wrong end of the FUN scale for me!
Online shopping didn’t exist in the 80s or 90s, but we did have Ezibuy, a New Zealand mail order fashion catalogue that I would devour and go back through multiple times circling things I liked, simply because it was stuff we didn’t see locally.
For most of us in the Southern Hemisphere its only in the last few years with the internet that Black Friday and Cyber Monday have become a much bigger deal.
Ultimately how, when and why you buy is influenced by your money personality.
If you’re new to this concept of money personalities or money archetypes, fret not! You can find out yours by taking my money archetypes quiz, the link is in the description of every episode and in the show notes.
I also did a full breakdown explanation of them all in episode 3 which is called “Unlock the power of your money personality”, so go check that out after you’re done listening to THIS episode.
What I’ve got for you today is an overview of how each money archetype buys the things they have or want. Its by no means a specific list, and I’m putting an emphasis on what causes you to buy and what causes you to ask for a discount.
If you’re on the receiving end of that as someone selling products or services, knowing this stuff can help remove the emotional triggers that come up when someone asks YOU for a discount.
Its not about you or the value of your work AT ALL, its purely about them and their money personality.
Lets get into it! In no particular order other than alphabetical because it makes my logical brain happy…
ACCUMULATORS
Accumulators will do ALL the research beforehand, you’ll only buy what you came for and I bet my bottom dollar (something an Accumulator would NEVER do lol!) you’re getting the best possible deal.
You’ll check the FAQs, read all the reviews and ask the seller as many questions as possible to reassure yourself that you’re getting the best value and the best quality.
Basically, Accumulators do NOT part with their money on a whim or from FOMO. Its a very considered approach and a well thought out buying decision.
They’re also more likely to pay in full than do a payment plan, they’ll ask if a discount is available. Its not to be cheeky or devalue what you’re offering, its simply for them to know they got the best deal.
ALCHEMISTS
Alchemists are a bit more impulsive, buying things that feel a bit magical and unusual, but you’ll resist buying from the big global companies because you hate feeding into the greed and inequalities of the world.
You’ll gravitate towards independent sellers and unique things that have a deep emotional or spiritual connection for you.
Alchemists might ALSO ask for a discount, again not because they don’t value your work, but because they don’t have a ton of savings – they tend to rebel against the concept of wealth and being ‘one of those people’.
But if you’re already offering that discount they’re an even bigger fan of yours for not making them ask for it.
CELEBRITIES
Celebrities LOVE shopping and feeling like a superstar, anything that makes you stand out from the crowd is a good thing. You’re more likely to just whack it on the credit card and you’ll worry about it later when the bill comes in!
Quality and prestige are important to Celebrity archetypes, they won’t buy something that looks cheap or tacky.
They love to make an impression and they’re willing to pay top dollar to make that happen. They’ll take the course or coaching offered by a known identity rather than someone with a less prominent brand, even if its the exact same thing.
Celebrities are less to ask for a discount but they also won’t turn it down if its available. Designer clothes at a bargain price? Yes please!
CONNECTORS
Connectors need to feel some kind of relationship or purpose with your purchases. Will it help others in some way? Can I use this to spread my message to the world?
It can’t be too complicated or overwhelming though because you don’t want to jump through hoops to get what you need.
If you didn’t know from previous episodes, I’m a Connector, I’m ALLL about the relationships.
I’m the classic buyer from an emotional standpoint, you have to sell me on the benefits and outcomes and you as a person, not just the features.
Connectors love a bargain but know how crappy it feels when someone asks for a discount, so we’re unlikely to be so forthright about it.
MAVERICKS
Mavericks will either go ALL IN or ALL OUT. You’ll take a huge financial risk and buy everything, or take a risk to buy nothing just so you can say you didn’t. The ultimate rebellion!
You’ll be the first to sign up to a new thing, or you’ll be the last one before the cart closes at one minute to midnight.
Mavericks will ALWAYS ask for a discount or a better deal, they thrive on knowing they negotiated like a boss. They might seem a bit cocky and arrogant when it comes to money, thats simply because its a game they want to feel like they won.
NURTURERS
Nurturers will have bought all the Christmas gifts in July, making sure everyone else is taken care of and probably bought nothing for yourself in the hope that someone will return the sentiment.
Then you wait for the sales to come along so you can maybe treat yourself to something nice, or better yet hope that someone else will treat you to something nice! You’ll happily spend loads of money on others but very little on yourself.
I adore Nurturers, we need more of your kind and generous nature in the world, but we also need you to feel empowered about your own self worth – you deserve it as much as anyone else, dammit! Don’t devalue yourself!
ROMANTICS
Romantics will shop up a storm and love every second of the experience! Luxurious things and elegant experiences make your heart SING!
Don’t worry I’m not about to burst into song, thats as close as you’re gonna get from me unless we’re on a road trip together, in which case all bets are off and we’re having a car party!
Things that Romantics buy as gifts are usually given immediately because the joy of sharing with others cannot be confined to a special occasion!
Romantics love quality and feeling amazing, but don’t ask them to commit to a payment plan because theres not much forward financial planning, they prefer to enjoy things NOW.
RULERS
And the last but by no means least, most purchases made by Rulers are likely business focused or associated with a bigger goal in some way. Rulers will spend big when it helps you move closer to that big goal.
You’re not here to mess around so online shopping is the way to go, maximising on time and energy that can be better utilised elsewhere.
Rulers will negotiate a better deal because any savings they can make will be used elsewhere as well. They don’t buy frivolous things, everything has a purpose, usually several purposes.
That’s my very broad take on buyer behaviour based on the money archetypes, you could be a completely different type of Ruler, Maverick or Alchemist!
How did I do with YOUR buying behaviour? What makes you hit the button to buy or hand over your money?
The thing is, there’s no right or wrong way to buy the things you want. Don’t judge anyone for how they do it. But it really does help to understand what drives you to spend the way you do, especially if it’s causing pain in other areas of your life (like paying the credit card bill or doing your taxes!)
This is the kind of thing that we play around with in the Sacred Money Archetypes group program.
We recognise a behaviour, look for the impact its having on you and your finances, and choose a new way of doing things that better serves you. There’s no shaming or blaming energy involved, just an honest look at where things could be better with small simple shifts.
Check out the details of the Sacred Money Archetypes program, and come and join the fun in the LIVE group calls beginning Wednesday 12th April 2023.
Its not discounted, it won’t be discounted even if you ask, but you’re still welcome to ask if your money archetype feels the need!
There is a payment plan available and its a buy once, stay forever program. You can keep coming back and joining in the live calls each time I run it at no extra cost. How’s THAT for a discount slash bonus slash awesome benefit??
You’ll find the link to all the details and to book your spot in the description and in the show notes.
That’s what I’ve got for you today! Here’s to having more FUN buying the things you want, need and love without worrying that you’ve overspent or bought something completely pointless.
Take care, have fun and I’ll catch you in the next episode.
Want to know more about the Sacred Money Archetypes group program?
Its a super fun 9 week online course with recorded modules and a workbook to guide your progress. Twice a year I run this as a LIVE group program with Q&A Zoom calls, coaching directly with me. Click here to grab your spot now and get a head start!
