Understanding how consumers make buying decisions can help you in improving website sales and conversion. This post is targeted towards the same and will help readers to find answers of below mentioned queries;
- Key factors affecting consumer decisions
- What factors affect consumer decision making process
- Consumer Behavior: how people make buying decisions
- Top ten 2015 ecommerce trends that affect buyer decisions
- How color affects buying decisions?
Online shopping is becoming a compulsive ball game altogether and buyers are leaving no stone unturned in making the most of it. Amid all the conversions and persuasions, there are reactions that affect purchases quite a lot. For online merchandisers, this could be a trump find! If you get to know how your buyers react, you might know how to put your products across so to make more conversions happen. Would you want to know the big deal? Well, you know if you know how to play with the psyche, you have already hit it off big time.
- Red Colour Affecting Buyer Decisions – Color psychology is very important if you want to have urgent sales and improved traffic in the first place. Red colour amid all is considered to be a colour of urgency. This increases heart rate and is often seen in clearance sales to incite rapidity. And if you can portray the Red well, there are many impulsive consumers who can be your immediate traffic. So, can we say ‘a colour can change your conversion’?
- Discount Coupons Sweeping Purchases; Buyer moods titillating –Discount coupons are yet another big treat stuff that people get fascinated with. About 31% of the people shop for coupons online because this saves them more, they can buy more and they can buy familiar products and brands. The most compelling aspect of buying a coupon is the amount of the coupon, usually the value of the coupon is the most enticing factor for a customer to convert, if the coupon can be used immediately, it can lead to a customer grabbing one in no time, and the point of sale flexibility also makes a customer react soon towards making a purchase. According to a survey, about 86% of the consumers build their decisions upon a coupon offer, coupons increase loyalty, customer satisfaction and also make a customer buy more in most cases.
- Social Media Affecting Buyer decision – Where do you go to if you have to take an advice or make a fond purchase? Gone are the days when you would turn to paper directories. People these days turn to social media for all their purchase decisions. Social media has lately been a great impetus in determining purchase decisions. Want to buy a laptop or a Smartphone and confused about options? Facebook it! 41% believe search engine banner ads are reliable product info source, about 71% purchase based on social media referrals, 63% feel consumer ratings are #1, 50% believe a company website, 62% believe the consumer reviews.
- Price Rates Influencing Buyer Decision Reaction – Depending upon the increase or decrease in price rates, buyers may respond accordingly. Some buyers may assume that quality of the product may have reduced in price or that the company may not be selling the product as per expectations. The other assumption that buyers may make is that prices may go down in the future and so may delay purchase. On the other hand increased price may lead to a decrease in demand as the product may be more costly for the consumers who may switch to another seller offering similar products at lower prices. Price hike reactions often depend a lot upon how price sensitive or insensitive your customers are for specific products and services. If your customers are insensitive, volume would stay stable whether you lower or raise the prices. On the other hand, if your consumer is price sensitive, he would prefer changing suppliers.
- Skinny Supermodels affect Buyer Reactions – Although men will forever drool at a woman who looks fantastic, there are no two ways about the fact that a website with stunning women will always have men following up and falling for it. But, more often than not, women may feel insecure about their own looks when they look at a much slimmer model on a website from where they aspire to buy from. However, research says it also depends upon the way the image has been integrated; mainly how blatantly or subtly the images are portrayed.
- People React at Zippy Disclaimers –According to a study in the Journal of consumer research, people react negatively to quick disclaimers at the end of ads. However if it comes from a reliable, veteran or trusted company, they would often zip past. Customers often perceive that the disclaimer is trying to conceal some information or making a fast disclaimer to boost purchase intention of customers. For unknown or distrusted brands, these disclaimers undermine a consumer’s purchasing decision.
- Reactions of consumers at shipping costs – If your shipping costs are too high or not communicated clearly, your customers may reject the transaction. Hence charging for shipping must be made effectively. Offer of free shipping is a good tactic in online shopping. About 93% shoppers get tempted looking at a free shipping opportunity. Free shipping above a certain order value is also a good marketing tool.
- Consumers React to interest rate hike – If your customers have always been loyal credit card holders and paid their statement balance on time, however if their interest rate is raised, they will react irritatingly or switch their credit card provider. If your customer has managed the account well and never missed repayments or exceeded card limit, if still they see raised interests, it will demean their interest and trust in your brand leading to legal actions or bad word of mouth as well.
- Customers reacting to delays in service provision, or waiting for long – waiting is time consuming, annoying and incredibly frustrating. Waiting for long hours or delays in service offerings can affect customers’ perception of your products and services. People react negatively and also their satisfaction level is hindered. Often this happens at restaurants or hotel check in and check outs. This affects whether customers will come back again or not, what opinion they will have for your service quality, how convenient or inconvenient they felt during their entire process.
- Cash on Delivery gets consumers responding well – Cash on delivery has been an aspect of online shopping that has made people react positively. In countries where electronic modes of payments aren’t usual, cash on delivery ensures trust in people that they can see the product and pay on delivery. However, if the product quality is not great, they may reject the offer as well
- People respond fast to Limited Offers – In times when your consumers have time to think over, they may procrastinate. However when there are limited offers remaining, your audience will know there’s short time left to take advantage of the offer and will respond quickly.
- Customers react quick to flat discounts – This is a business strategy that has always led to stickiness and customer loyalty. Flat discounts also lead consumers to repurchase and further recommend them to others. They are the key differentiators and leave an overwhelming impact on consumers that make them come again. However, if there are any hidden disclaimers not revealed clearly, consumers might have adverse influence on their purchasing decision.
- Size not available makes people anxious – When a brand doesn’t have the particular size a consumer wants, it takes them away from the sense of belongingness towards the brand. They feel disconnected and apprehensive towards any future purchases. This happens often with plus sizes or big shoe sizes.
Get street smart, know your audiences’ reactions towards various activities and how they can be dealt with for maximizing your sales and revenues. Here are some real time probabilities of how customers react to things. Get cues and strategize your business in tandem.
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