Let’s talk about consumer psychology today. NEXTFLY is going to share with you some important psychological facts that greatly influence consumer’s buying behavior. Understanding how your customers think and what their motivations are when they’re on your site will help you in coming with tactics to use to reach out to them.
Keep reading to know more about these common human psychological phenomenon.
Making a quick profit is great, but making a loss is difficult to stomach. Behavioral scientists call this loss aversion. This works because people are intrinsically afraid of losses. Losses loom larger than gains even though their value in monetary terms may be identical. Loss aversion is one of the most important drivers of human decision making.
In simple words, most people would rather not lose something than to win something at all. You can use this psychological phenomenon in marketing by understanding what exactly your target audience is afraid of losing, and why. You can then develop marketing campaigns that address their worries, empowering them with a solution.
It’s no longer enough to give customers great service and competitive prices. In the world of instant gratification, they want all of that, and they want it now. People want things fast, and if you can deliver goods and services more quickly than competitors, you should boast about it in your marketing efforts.
You can also take a step further and speed up your communication game. Communicate with them beyond the traditional business hours and ensure that their needs and concerns are met when they have them. Have all the pertinent information about a product or service before they make a purchase and offer super-fast shipping.
Pain and Pleasure
There are only two drivers of human behavior, pain avoidance, and pleasure-seeking. Take advantage of these dual drivers of human behavior in your marketing campaigns. First, you must know if you are trying to create a short term or long term consumer behavior change. Focusing on long term positive effects is more effective in capturing long term consumer loyalty.
You then need to understand what your customers identify with pain and pleasure. Figure out your customers’ pain points and the solutions you can offer that will fix these sources of real or perceived pain. Use these triggers to improve conversions on your eCommerce site.
Customer labels are powerful influencers of human behavior as when you give users a label; you’re influencing their subconscious to take certain actions. In a study, it was found that if you label your consumers as part of a superior group then their actions will reflect those characteristics.
You can leverage this effect by writing copy that labels your potential customers in a positive manner and makes them feel special for choosing your product or service. This can actually influence them to make a desirable action.
In conclusion, understand that understanding human psychology gives you the ability to help you understand how people think when they’re on your eCommerce site.