Understanding Customer Buying Behavior for Better Sales Conversion
On : November 25th, 2014By : Taskr.in
Wouldn’t it be swelling, if you knew how to get more customers who not only purchase your products but also keep coming back for more? It might seem very tough at first, but it’s a lot simpler than you think. You don’t need to influence or hypnotize them into buying your products. You just need to give the consumers what they want and what they are looking for.
The key to the success of any business is an understanding of the psychology of your customer buying behavior, both potential and existing. All human beings fundamentally have similar mental prompters that drive actions. In order to persuade and comprehend your customers, you need to know very significantly what those triggers are and how to make use of them in your marketing strategy.
Let us enlighten you with some vital signs or trigger that affect customer buying behavior:
PSYCHOLOGICAL FACTORS
1. Novelty
We humans adore novelty. That potential for delight stimulates us to seek it. Why do you think Apple releases a new iPhone and iPad every few months, with the assured confidence that people will still buy their newly launched gadgets having a negligible difference with the previous product? That is no accident, my friend. That is the supreme power of novelty.
2. Storytelling To Induce Customer Buying Behavior
From generation to generation, human beings have been masters of storytelling. Why so? Because it triggers emotions. We humans are emotional creatures. They make us go through an experience without directly experiencing it. They literally transport us into the world of the story where we make our decision whether to buy or not. So, that is where you as a business owner need to venture into.
3. Inspiring Curiosity
Carnegie Mellon stated that when there is a crack between what we know and what we want to know, we will take the desired action to fill that gap. It is known as the Information Gap Theory. It is like an itch that needs to be scratched. Our curiosity inspires action. Triggering curiosity will ensure that your prospects buy your products in order to fill the gap between the teaser and the answer that lies beyond it.
4. Building Anticipation
A business should make their customers tingle with excitement and ecstasy at the thought of opening their newly purchased product. That is the power of anticipation for affecting customer buying behavior. By having something to look forward to, you carry happiness into your system well before the experience actually takes place.
5. Commitment & Consistency
People will go to large lengths to appear consistent in their words and actions. As a retailer, you can create value of your commitment to your customers. Being consistent about your promise shall generate loyal customers too. Basically, your commitment initiates committed consumers towards your firm.
PHYSIOLOGICAL FACTORS
1. Product Appearance Perception
A product’s physical appearance provides a great deal of credit towards customer buying behavior. The physical attributes of a product should match with the perception of customers in their desired product.
2. Amalgamation Of Features
Understand that not every customer has the same look out for his product. As a retailer, you must have a combination of attributes in your product. For example, a product can have a modern approach as well as a simplistic one to ensure the different kinds of consumers finding their desired attribute in their product.
3. Variety
When it comes to features like color, weight, size, etc., it is advisable that variety is the key element engulfing the products. Providing a variety in these elements in your product is the best option to bank on. This shall make sure that a variety of customers get a variety of choice.
4. Pleasing the Eye
Going back to the basics, it is best to always adopt this way. Making your product attractive and pleasing to the eye has always worked and shall continue to do so. If the customer likes it in a glance, you do have a chance.
So, these are some of the key factors that trigger customer buying behavior in both psychological and physiological ways. Make use of them and ensure consistent and loyal customers.
