Three Important Buying Behavior Trends Coaches & Consultants Need to Know

This year is strange. 

Maybe you have felt it as well. In America, we have presidential candidates no one wants. Adam Sandler became the highest-paid actor due to his publishing movie deal with Netflix. Stanley Tumblers created a buying frenzy, and the US government is considering banning TikTok. 

While all that was happening, we were all trying to make sense of everything while keeping the pulse on buyer behavior, so we knew how to duck and weave to sell our offers within this ever-changing place we call the internet.

And, my friends, figuring out what is going on is getting harder. People are still unhappy and buying to feel better. 

In my most recent Trends Training, I highlighted three important trends happening right now might be affecting the buyers in your coaching or consulting market. 

If you’re selling high ticket services—you must stay current on buying trends.

1. People are struggling.
   12% of 23 and 24 year old women say they have a bad mental health day EVERY day. In addition, 90% of all young people born after 1997 consider themselves very unhappy. One in three people in the world is in pain. Only 50% of people who need mental health therapy are receiving services. Of those 50%, at least half have severe issues daily, like panic attacks, episodes of depressive states, and manic issues. The University of Queensland and Harvard did a study that indicated at least half of the population in 29 countries (including most of Europe and the U.S.) will have a mental health disorder by age 75. The average age of onset is 15 years old. 

2. People are buying joy.
   In America and Europe, people no longer buy home exercise equipment, housing, property, or broadband fiber internet. They buy travel, concert tickets, pet supplies, beauty and personal care products, arts and crafts, kitchen supplies, jewelry, clothes, and shoes. Consumers want to treat themselves with food, experiences, and travel. 

3. People are enjoying the journey.
   People are spending 30 hours planning and researching week-long holidays and vacations. That is almost a whole business week on booking travel. This means people are not only enjoying traveling but also the PROCESS of finding and booking the trip. Viking Cruise Line's IPO cap raise is expected to start at ten billion dollars. Most Americans (53% or more) prioritize saving for travel over hobbies, retirement, and home improvements. (according to OnePoll on behalf of GoCity,) 

These three trends are important because they speak to your clients' mindsets and priorities. People are buying but will wait on anything that requires hard work. Just remember: we purchase to feel better. 

Some takeaways from these 2024 buying trends.

1. If you provide therapy, spiritual coaching, energy work, or are in the mindset space, this is a great time to discuss calming anxiety, hypnotherapy, NLP work to remove stress, or any proprietary methods for handling the effects of poor mental health. If you are not a therapist but can help mitigate some of the issues that arise from mental health problems, you have a huge market right now. These people are actively buying things like nervous system regulation, stress management, sleep coaching for themselves or their children, emotional health and wellness, and natural alternatives to medications like Prozac or Adderall. Talk about your offers each day. Express how much better your clients’ lives will be when they resolve these issues. 

2. Make shopping and buying a delightfully fun experience for clients. If people like the shopping experience with travel, dig deep to discover how to tap into the same emotions. Consider offering retreats, in-person events, or even vision board sessions to prepare your clients for your offers. Think about what people are buying and why they are buying. 

3. You might be competing with other purchases, not just your competition in your niche. Ask what clients are thinking about buying in the next 30 days. You might be competing with new kitchen countertops, Jimmy Choo shoes, or a trip to the Maldives. Or they may be figuring out how to pay for their kids’ equestrian camp, acting and band camp, or special team fees for baseball. 

4. If your customers want permission to treat themselves, give them permission!  Make your offer a treat rather than a burden. Do not include” All my courses!” No one wants a giant heavy lift right now. What do they want? You can infuse your offers with the quickest solutions and require fewer clients. How can you give them more space to get to the goal and more support than before? Think about the treats in your offers, and provide rewards at the milestones they achieve.

This is just a taste of my TRENDS TRAINING™ for this quarter.

If you want even more insight into buyer behavior, how much time we spend on social media, what is going on with the algorithm, and who people trust right now, you need the training. It is at an extremely accessible price, and every moment is designed to help you navigate the current quarter we are in and the six months to come. 

Think of Trends Training™ as the equivalent of a business road map and reading your clients’ minds to know what they will buy and how they will act in the near future and down the road. 

Get all the details and instant access to this month’s training here.