Consumer psychology has been a subject of interest for a number of marketers trying to increase onsite engagement and sales. Every human being is a slave to the same mental and emotional triggers, and this has been leveraged by retailers for ages to up their brand’s appeal.
Take Amazon for that matter! Their ‘lightning deals’ are a major hit with their target market. Shoppers know that some of the best products go on heavy discounts, but the product is chosen randomly. So to be able to bag the one they want, they keep going back to the store regularly.
More the number of visits, the higher are the chances of them making a purchase.
People don’t just buy because they need a product. Infact, according to Invescro, 84% of shoppers make impulse purchases. So what is it that urges them to want to make these purchases so suddenly?
That’s where consumer psychology comes in.
No one is one hundred percent rational. To a large extent, each one of us divulges from rationality in judgment. This is where consumer psychology comes into the picture.
Considering how every shopper that comes to your store has their own interests and preferences, diving deep into psychology can become all too overwhelming. That’s why we pulled out the best strategies that are used top brands across the globe to bag more sales.
Using consumer psychology to increase sales
1) Brand yourself as exclusive or an authority
The number one thing that stores need to understand is that consumers like to interact with brands that have created a unique meaning to themselves. They are most likely going to ignore you if your messaging, look and feel, and products seem similar to ten other stores in the same industry.
That’s why you need to brand yourself as an authority or an exclusive brand that stands out and grabs the shopper’s attention.
You can do this in a few ways:
- Apart from using product pages for describing the features, try to include a little story around it – how and why it was made, and what makes it so different is a good place to start. Stories connect better than a pricing list does.
- Invest in content marketing and create blogs, look books and more to give shoppers something eye-pleasing to consume. Take for instance, how people love taking cutouts from the Cosmopolitan magazine for their inspiration board!
- Address shopper concerns even before they ask by understanding what stops them from making a certain product purchase. Use live chat, content marketing or even your social media posts to address them smartly.
Simply put, present your brand to show that it knows a lot about the industry and is willing to share the information with shoppers to help them make informed purchases. Consumers love brands that are transparent and focus on educating them.
2. Leverage the influence of influencers
There are at least five influencers we follow online and out of them, there’s definitely at least one that tends to inspire our daily looks or style preferences for that matter. Then, why not leverage this influence to increase your store’s sales?
You have already seen a lot of brands bring celebrities on board to endorse their products. But, as ‘realistic’ becomes more of a pattern, you need to start targeting social influencers. People connect with these realistic influencers on a human level and take their recommendations to be as good as those made by their own friends and family.
Here’s how you can be successful at influencer marketing:
- Identify your different target market segments and the demographics of the majority of your shoppers and existing customers.
- Understand the trends that are popular amidst the identified segment.
- Look for an influencer who is frequently publishing content around the above trend.
- Take note of the engagement that the influencer is able to bring to their posts.
- Reach out to influencers who don’t just suit your brand’s campaign necessities, but also believe in what you do.
3. Create a sense of FOMO
A typical shopper will want to probe all the options they have before making a purchase. They’re willing to let go of a deal they think they can come back to, to explore those on other stores. Not when you put a timer on that deal though!
The fear of missing out (FOMO) is real. Marketers have been using this psychological trigger very smartly with techniques such as ‘countdown timers’ that they display near a product that is on a time-bound sale. Amazon’s ‘lightning deal’ uses exactly this psychology to convert shoppers.
A few ways to create FOMO on your store include:
- Using on-site notifications to continually show the shopper how fast the products are being sold or how many people have availed the deal.
- Set up countdown timers and make them static across all pages to let shoppers know how much time they have left to grab the discount.
- Makes sure you notify the shoppers of a time-sensitive discount in a PROMPT manner. Apart from emails, leverage the timeliness of web push notifications and Messenger marketing
4. Win trust first with social proof
A lot of shoppers wouldn’t purchase from a store simply because they aren’t familiar with the brand. This hesitation can be because they are skeptical about the quality of the products or post-sales support and services. That’s why before you nudge a shopper to make a purchase, you should focus on winning their trust. This is where social proof comes in.
Online shoppers don’t just ask their friends and family for recommendations, but also look for reviews, ratings, and testimonials from those who seem similar to them. It helps them visualize how a product would serve them. Apart from that, reviews and ratings also help them see how good the products are.
Take, for instance, a dress you see online but aren’t sure if it would suit your body type. Once you see a testimonial and a picture shared by real customers, your doubts get instantly cleared.
5. Appeal to the eyes
Just like how the human brain reacts positively to urgency, it also acts positively to sensory delight. That is why aesthetics and presentation matters. Statistics point out that nearly 93% of shoppers make a purchase because of a product’s visual appeal.
Now, the appeal is not just about how the product looks. It also entails how the product is presented – no matter what you’re selling. You have to make the ‘experience’ visually appealing for your shoppers to nudge them to even consider wishlisting the product or adding it to the cart.
You could do this by adding product videos to your product page and enhancing product pictures on your store. With the announcements made at Shopify Unite 2019, merchants are going to be able to do so much more – take for instance adding 3D model assets. Read more about it here.
6. Make them an offer they cannot refuse
What’s the one thing that a luxury brand offers you that makes you want to instantly purchase from them? A discount or an offer that makes the purchase a little friendlier to your pocket. Even global brands like Zara use this consumer psychology hack every year to up their sales and it’s during this period that you see practically everyone with a bag from their store!
You can do this in a few ways to increase your sales and at the same time, start bagging even more customers:
- Use the shopper’s purchase behavior and browsing data to identify products they love and offer exclusive discounts to them.
- Leverage multiple communication channels to reach out to shoppers in a timely manner – web push notifications, social media retargeting, email marketing and Messenger marketing.
- Set up customer loyalty programs to create a win-win situation – you drive repeat sales and they get unbeatable offers.
- Create a referral marketing program to reach new shoppers through your existing customers in lieu of special discounts.
Simply put, the only way to nudge a shopper that has way too many options today is to get inside their head and understand what they want. The closer you are to knowing their expectations from your brand, the higher are your conversion rates.
It goes without saying that the standard rules of offering a seamless shopping experience will always apply!
Have you ever experienced a store using the above psychology tactics or have you used any one of them yourself? We’d love to hear if it helped drive more sales for your store.
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