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The Psychology of Winsome Prices to Make Customers Buy

The Psychology of Winsome Prices to Make Customers Buy

July 6, 2015 By admin

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.

The Psychology of  Winsome Prices to Make Customers Buy

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.

Authority
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.

Social Proof
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.

Customer Review

How Customer Reviews Win Conversion Battle?

May 1, 2015 By admin

Does your business shines because of customer’s online word of mouth? How important are customer reviews for you?

Customer Review

Most businesses have adopted to online mediums to market their products and services. It widely affects how clients see products, services and businesses. Furthermore, how your business is expressed and perceived by the customers in their views and reviews further influences the buying decision of other customers.

Customer reviews are indeed powerful tool to win the conversion battle. More positive reviews you earn, the better you get in the eyes of new customers and the more you influence them to purchase from your website.

Statistic Overview-

online-review-stat
• Consumers reviews are trusted 12 times more than product description. (eMarketer)
• About 79% of consumer trust online customers reviews over a personal recommendation.
• According to Search Engine Land on an average 6 reviews are read before making a decision by 67% of the online consumers.
• 9 out of 10 customers, deciding which company will get their business, read online reviews of that company first.
• 81% of people said they prefer taking friend’s and follower’s advice related to a product purchase via social media. (Click Z)
• 67% spend more when they receive a positive overview from an online community of friends. (Internet Retailer)
• 44% of mothers use social media platforms for product recommendation, 73% of them trust recommendation given by the online community. (BabyCenter LLC)

What is the importance of customer reviews?
• It influences others to buy from your store.
• Gives you an idea about customer’s taste and needs.
• Tells you what is important for the customer.
• Gives you an idea how you can make your product better.
• Tells you how well your product is performing in the market.
• Gives you a better understanding about how your customers rate your products and services.
• At times, reviews also tell about customer service, which itself evaluates how company’s employees treat their customers.

Tips to Gather More Reviews:
• You ask for it, you get it.
• Give a direct access of link to review website.
• Use social media platforms.
• Offer customer service with a suggestion card.
• Follow up, but don’t irritate them.
• Coach your staff to ask for reviews, propose target incentives
• Be patient! It is a long term strategy just like SEO.

Once you receive reviews start monitoring them. Here are some tips to monitor online reviews:

Be active-
• Regularly check for new reviews, weekly update will be a good option.
• While going through various websites, note down how old are the positive reviews.
• Older reviews are weak to have an impact.

How to deal with the Bad Reviews?
• Don’t ignore them!
• Address them properly without any delay.
• Send a quick, polite response. Ask what went wrong and make it right at the earliest. (Show them that you care about your customers. Perhaps this might gain you a positive review at the end).
• Offer a discount or a refund on future services.

Win them with a courteous tone
If any review causes a strong negative emotion, remain calm and respond to the reviewer in a civil manner.

The crux is that positive customer reviews build loyalty and trust of other customers to buy from your store. It has a direct connection with your marketing efforts and generating high conversion rates.

You can also work on the presentation of the reviews to enhance them and get them noticed among your customers. For instance, if you are an owner of the Magento based E-Commerce website, Community Testimonial Extension can give your reviews a new look on your website, thereby helping in building customer trust.

So try to make a online brand image that flourishes through positive online word of mouth.

Omni Channel, The Retail Revolution

February 21, 2015 By admin

With change in technology, the channels to harness customers have also changed, resulting in a completely new approach to market products. Today, consumers increasingly use digital technologies and devices at every step of their buying journey. Smart retailers have exploited this consumer behavior by marketing their product through Omni channels.

What exactly is an omni-channel marketing?

Omni-channel marketing targets seamless consumer experiences across all available marketing channels such as e-commerce, social networks, cataloguers, radio and television, conventional brick-and-mortar or any other channel through which you tap a consumer.

The pivotal point of omni-channel is to embrace an inbound approach, placing consumer preferences at the core of every strategic decision instead of just throwing the brand at them. Moreover, the end goal is a successful one-to-one relationship constantly boosted by successive brand-consumer interactions.

The principal move here is to blur the boundaries between different channels and build a comprehensive strategy that is built on various sources of consumer choice data. Retailers might realize it sooner that it is not often their in-house strategies or promotions attracting consumers, therefore the brilliance lies in leveraging third party.

There are several strategies to provide a more cohesive shopping experience. Here we draw light on top four ways to embrace Omni-Channel retailing:-

Omni-Channel

E-commerce

As technology becomes more robust, it gives a boost to business by offering comprehensive, personalized shopping experience. The in-stores of e-commerce websites help customers to know product in a better manner. Lets say a consumer is buying a dress an online store.

The online platform should give the consumer a holistic information about the availability of size, colour and shape if it’s a dress, a detailed configuration if its an electronic product etc. In detail a consumer gets information about buying history, clothing size and color, product descriptions, images, exciting offers and much more. This permits retailers to deliver comprehensive product guides to each individual consumer.

Mobile Application

The consumer prefers personalized shopping experience. It becomes very easy to access information through a single touch on the phone, building a positive brand name and this practice only showcases what they want rather than giving a generic sales pitch. Mobile Apps offers a holistic knowledge about in-store & e-commerce sales and events to the customers as they shop.

Social Media

Peer-to-peer communication is the most powerful method to sell a product. Brands using social communities are stepping out of the traditional advertising model and allowing customers to help build the brand name through their own discussions and recommendations.

Social Media networks play a big role in providing an omni channel shopping experience as it lures more consumers to the store. Social media based on location like Foursquare and Facebook allow businesses to use social channels to market products to local customers. These websites engage mobile users to interact with their friends via “check-ins,” showing who has stopped where and their comments.

Reviews and Testimonials

Review and testimonials on the websites, social media and other areas turn out to be a powerful indirect advertising tool. Review is a source through which a customer access information regarding the quality of the product. Moreover, it also helps strengthening customers decision to buy a product. Reviews and detailed product information presented while shopping creates a comprehensive buying experience that can help drive sales.

So, the retail world is experiencing a revolution in the manner of marketing products with new strategies focusing towards a record breaking profit. If you are still out of the Omni channel marketing start leveraging it now to gain the maximum surplus.

 

How to build the integrity of a website among customers in 2015 ?

January 8, 2015 By admin

integrityofawebsite

The soaring Internet province lead to the emergence of uncountable websites which are steadfastly working to take their business to new heights. This huge array of sites has escalated competition to a completely different level. However, websites integrity among its customers prevails as the basic factor for the customer to start any business with the firm. Every user avoids security intricacies and demands the possession of a safe and secure transaction. Winning customers trust sustains the consumer for a long time, besides this it advances further recommendation to their peers.

Let’s have an overview of notable tactics through which you can build customers trust on your website in 2015:

Trademark of the client- A sturdy portfolio imposes a first- rate impression in the customer’s perception and give them a concise idea about how we make things happen in a phenomenal way. Exhibition of previous customers logos persuades visitors to heed the website, further adding volumes to the portfolio. This is the foremost tact to build customers trust and to show that you have maintained a promising experience period.

Appealing “About us” segment- The conventional technique to tell the visitors about your work and experience is through an impressive “About Us”. A personal piece of information about the company formulates a more connection-driving and approachable for the customers. The year 2015 will also witness “About us” segment as the basic element which will build customers trust.

Customer’s Reviews and Feedbacks- Customers review in the form of testimonials and rating paves the path of confidence building for new visitors. The general demeanor of a visitor is created on the basis of customer review and feedbacks about a website. Eventually adding factors for a customer to trust a website.

reviews

Honour and Achievement- Add to the desirability factor of your website by exhibiting certificates and awards right from the year of your company’s inception. The achievement and honour displayed in an interesting way inform customers about the capabilities of the company. Use of golden colour increases the value and worth of what you are promoting.

AwardsAchievement

Payment Emblem- Secure payment strategy is another important aspect to build customers trust in your website. Identity theft and credit card fraud are the serious issues which restrict the customers from trusting any website. If you have an e-commerce website, add the payment emblem of the payment gateway such as PayPal, Apple Pay, Authorize.net, etc.

Payment Emblem

Modify your services list- Amend your flaws specifically for the services in which you lack perfection. By the time you don’t gain perfection in the field avoid selling such solution as your honesty will add on to your credibility. However, if you still serve with deficit perfection you may not fully deliver a good outcome to the customer.

Veracious verdict for your product and services- Customers don’t accept products or solutions that can be adjusted to partially satisfy their needs. Indeed, they favour a solution which functions properly and is robust. Henceforth, provide them the entire truth and avoid misinterpreting the advantages, features and benefits of product and services. Let them select the best solution which will work for them.

A person does business with a firm which he has approved after all the litmus tests. Test of trust is the prominent among these tests. As always and even the year 2015 will foster customers trust as the prominent factor for the sale in a store. Evidently, a good website will include the above techniques in his business strategies to attain new business heights.

 

 

Grow-your-online-sale-with-customer-reviews

Infographic: Grow Your Online Sale With Customer Reviews

July 1, 2014 By admin

Collecting customer feedback has two possible outcomes for eCommerce stores. It will either massively improve customer satisfaction and drive increased revenue, or it will waste your’s and your customers’ time.

Customer reviews are known for driving sales.

 According to a 2012 Consumer Review Survey, 72% of consumers said that they trust online reviews as much as personal recommendations.
 Don’t delete negative reviews, 

~ Instead you should respond to them. Buyers should know that you always appreciate their opinions and you will use them to work on improving your products/services.

~ Negative comments give you pointers on what you need to improve in your products and your service.

Grow your online sale with customer reviews

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1) 42% of people shopping online value good product descriptions and 16% won’t buy from a particular website because of poor ones.

2) On average, 90% of e-commerce customers spend $54 per order.

3) 85.57% of the participants stated that they read reviews often or very often before they purchase online.

11.54% stated that a single negative review was the reason for not buying and 18.27% stated that a single positive review was the reason for buying a product.

In the end it all comes down to trust. Customers will only buy from you if they trust you.