A Word or Two on Psychology
Psychology is a powerful tool in the hands of someone who knows how to use it properly. When it comes to online business, applying human psychology is one of the key elements that influence customers’ purchase decisions. Being in this business, and wanting to gain all benefits of e-commerce, you have to understand the needs of your clients.
By taking care of feelings, emotions and first impressions, you can affect them. Many factors affect people from the moment they land on the web shop to the final step of closing a purchase. Adjust your web store, offers and services; create promotional strategies that will attract, encourage and influence purchase decisions in efficient ways.
Why people buy online, how do they get drawn to certain sites when shopping online, and what are the psychological triggers that can be used to increase sales – these are the questions that we will discuss in this article.
Why People Buy Online?
Today, more and more people use the benefits of e-commerce and turn to online over conventional shopping. It is essential to recognise what is causing that trend and it is crucial when building e-business to adjust to these reasons. Number one motive, of course, is that online shopping can be performed in pyjamas from the comfort of your chair. Also, there are a few more reasons, which we will discuss.
Wide Range of Products
Online store gives you no limitation with shelf space. It means that your e-business can include more inventory. For online business owners, it is the greatest of all the benefits of e-commerce. That is precisely the reason why many people move to online shopping – it offers a broad range of products to choose from. Customers will find more product variations, colours, sizes, etc. and that is why they turn to online shopping instead of the traditional.
People go to physical stores to check some products, but very few of them make the purchase there. Instead of that, they look for the same product online. The reason is checking for competitive pricing. People want more bang for their buck. That is a good reason to offer lower prices than in stores. Put few products on a discount to draw attention to customers that are hunting for low prices. Put a time limit to that discount – the sense of urgency around the deal will increase the number of conversions.
Reviews From Other Shoppers
A significant percentage of people look for online recommendations from other shoppers before buying a product. So, the importance of social proof in e-commerce business is vital. When you are in a shopping mall, you can not know what other people think about your product. This is also one of the benefits of e-commerce – when shopping online, you know what others think about a certain product, and that is a big plus. As a web shop owner, provide reviews, ratings and customers comments for your products. Display them clearly where they can be found.
Possibility of Comparing Prices
Comparing prices is much easier when buying online. Walking from store to store is replaced by walking through browser tabs. Display an original price next to yours; it will help you to accentuate lower prices that you are offering. It will provide easiest pricing comparison, and it will encourage customers to make a purchase on your web store.
If someone wants to purchase an item of a certain brand that is not in any store nearby, he will turn to online shopping instead of travelling somewhere where he could buy it. Buying what you want from wherever you are is the biggest of all e-commerce benefits for customers. If you ensure an excellent delivery service, the number of satisfying buyers will increase each passing day.
Benefits of E-Commerce Applying Psychological Triggers
Create an excitement for your product; it is the best way to influence a potential purchase decision. Companies that are implementing this strategy have a significant competitive advantage.
Offer time-based deals
Customers will automatically make a purchase decision, or they will come back in a specific time frame to utilise your offer.
Clients who come to your web store have the intention to buy something, but often because of various reasons they delay their purchase. It is a typical situation. There is a significant number of potential buyers, and the stock limitation tactic will help you convert them. Next, put a “Limited Stock” sign next to a product, and that will decrease the time your customers have second thoughts when making a decision.
Free shipping and quick delivery
If you offer fast delivering time and free shipping in a purchase deal, it will help you earn better conversion rates.
When it comes to shopping, the strongest feeling that customers feel is their loss. There are many mind tricks when it comes to influencing a customer’s purchase decision. One of the most successful ones is making the customers feel their loss. Creating a situation that will cause the buyer feel like it is his only chance to realise the presented offer, will encourage them to make a purchase.
It is not enough just to give good discounts; it is necessary to point it out too. A weak discount advertisement will not influence customers’ decisions about purchasing. Highlight your discount percentage and clients will be afraid that a good offer like this will not repeat itself. They will be quick to react.
Combo deal benefits
If you are going to sell products in a package, you need to highlight the advantages of this kind of buying. Only in this way will you influence your customers. Show the breakdown of prices – before and after, and it will encourage customers to complete the transaction.
People enjoy the benefits of e-commerce, but when they are coming to a web shop for the very first time, they are very wary before taking any actions. To convert these visitors to real buyers, you need to highlight the level of security on your site. Each transaction they make needs to be safe. Consumers need to trust your company and feel safe in your web shop.
Money back policy
People hesitate to purchase online because of the fear that the product they’ve ordered may not be the same as the one they will receive. To avoid this dread, offer your customers money back guarantee. It will encourage them to make more purchases in your web shop.
For many people, a big problem with online shopping is not having the ability to feel a product before the purchase. Because of that, a return policy becomes a vital factor. People will order a product they like, knowing that if it doesn’t fit, they can return it.
One of the biggest challenges in e-commerce is dealing with abandonment issues. Many visitors drop out of their shopping in the final step of the process. Stopping them from doing that is critical for increasing conversion results. Give buyers a worthy cause to complete the purchase. How?
Offer exclusive discounts
Offer discounts on the checkout page. It will retain abandoners and encourage them to complete their purchase. They will want to take advantage of the special discounted price.
Entering payment details is very annoying to customers. The checkout page needs to be straightforward and intuitive, eliminating every possible reason for people to drop their purchase. Try creating personalised checkout pages to build a long-term relationship.
In today’s world, the strongest recommendation is other people’s experience. Give your customers opportunity to express their opinion about purchasing in your web shop. Show good references; it will help you influence their buying decision.
Display customer reviews. It will show your website visitors that you are not fake. Also, it will help them make a sound (buying) decision.
Social networks are the most powerful and influential place where your web shop can blossom. Through them, you can reach a significant number of people that will instantly have an influence on purchase decisions. Encourage people to share reviews about your products in their social network circles.
Up-selling, Cross-selling, and Down-selling
Maybe you’ve already heard of these terms, but if you haven’t, they are some of the traditional marketing’s tricks that successfully transitioned online.
Up-selling refers to the technique of selling a more expensive product than originally intended. Would you like fries with your cheeseburger? If your answer is yes, traditional markets call that up-selling. Up-sold!
A cross-selling example would be selling consulting services along side your design offer to a customer that doesn’t know how to promote his new website.
Down-selling is, in a nutshell, trying to sell a cheaper product because a client tried to back away from a deal. For example, it the prices scared him away, you can offer him a discount or a cheaper alternative.
Every e-commerce giant was once a small online business. And it struggled with every customer and every purchase. It is tough to accomplish big goals if you don’t understand your buyers and their wishes. It is essential to learn about online consumers and their psychology to attract them into your shop. A few things people appreciate when it comes to the online shopping, comparing it with the traditional one. First, it saves time, but there is also a wide selection of products. Good prices that can be compared and the ability to check reviews about the product before buying it are also perks. It is important to identify visitors’ needs and to fulfil them. That will be the first step towards success.
It is not a novelty that sales industry use human psychology to create better web shops, with better designs and user experience. Although every person is unique, there are still some universal psychological triggers that can be applied in e-commerce, to attract shoppers and turn them into real buyers. Providing small things like free shipping, quick delivery, discounts, combo deals, decent return and money back policies will give you a great feedback and ensure good reviews. Always put your customers in the centre. Provide them the feeling of all the benefits of e-commerce and it will gradually lead to increased sales and growth of the entire e-business.
And as always, any suggestions or comments, or even your own personal tricks, are welcome down below.