The Psychology of Winsome Prices to Make Customers Buy
What does a consumer think before- during- after buying a product? The answer unravels insights to your consumer’s thought process or psychology that apparently leads to their final buying decision.
If you are determined to make headway by achieving all your conversion aims, you need to leverage concepts gleaned from behavioral psychology of your consumers.
We are individuals with different thoughts and perception. Excluding certain instances, our brains are accustomed to react in a similar manner. When we understand these nuances of human mind and use it to influence and cater our consumers, we help our business to find creative methods to move more consumers to say YES! to your product and services. To get a better picture of consumer psychology here are 7 psychological master keys that open up the doors to more sales.Understand Social Psychology: Reciprocity
When someone gives us something, with the act of acknowledgment we give them something in return. This principle is called the Reciprocity. Similarly an online retailer can offer a free gift with every purchase.
A gift in the form of content that assists customers with information that helps them in selecting an item, is helpful. The recommendation is always what your visitors are looking for.
Loyalty and Consistency
The psychological principle of commitment and consistency proves that people will go to great lengths to appear consistent in their words and actions. To manifest this they can also do irrational things.
If you show your customers that you are committed by making them sign up your email newsletter, the probability of purchasing increases. And if you actually get the product in their hands even without an official commitment, the purchasing chances increases automatically.
The Liking Factor
You are likely to say ‘yes’ to a proposal if you like it. This is the reason why brands hire your favorite celebrities to promote their product.
Branding is essential to trigger the principle of liking. Every aspect of your store from colors to fonts, from images to overall content – everything contributes to your brand’s personality. Indirectly it implements your goal to create a personality that is cohesive and like-able for your target customer. Along with that social link plays a major role here. So don’t miss it!
Display What Others Are Buying
People like to move in herd that’s how fashion is built. If what you are doing is ‘cool and trendy’, people will copy you.
You must have seen people wearing the same shoes, shirt or you may have visited certain store where you saw three T-shirt of the same color but different sizes. You probably felt a quick connection with that person based solely on that one data point.
Online stores can play off this idea by showing different product with the help of cross selling and up selling.
Does your product have a scientific reasoning. Display content through professionals with good credentials. Look for expert curation, as products made available to the shoppers these days are so vast that it’s hard to actually convince them. So, an expert support in form of content boosts customer’s buying decision.
The social approval or liking of the product efficiently works to influence the buyers decision. Anything and everything that is popular on your site can always trigger better responses.
If any product of your website is frequently purchased, show it up to your visitors. Quote such products as “Best Sellers” or “Most Popular” product on your online store.
Show sales deadline
Deadlines or impending out of stock announcement can increase sales at a fast pace. This tactic creates to tune the visitor into a mode of urgency to buy the product.
To make it more effective make your offers available only for a particular period of time. While doing this, make sure you highlight it by stressing on ‘Today Only’, ‘Limited Time’, ‘Offer Ends Today’ and anything engaging that conveys your message. Encourage your visitors to take an instant action.
Hi oCodewire, I am building my clients up for a big discount deal, like buy one and get one half price. You are still giving me so many good ideas though, thanks for such a good information.