If you’ve been in business for several years, you may have already determined certain factors that influence people to make a purchase from you. With time and adequate trial-and-error in your marketing strategies, you’ve likely learned many things about your market by now, helping you to sustain the business.
Seasoned entrepreneurs thrive in business when they take the time to assess and evaluate their efforts. This is the most reasonable thing to do to determine which efforts are worth investing and which ones are a waste of valuable resources. Of course, these highly depend on which industry you belong to and what type of market you are attracting in your business as well. Just because one type of marketing effort is working well for a business that you know, does not automatically mean it will work as well for your own business.
There are various factors that influence buyers to make a purchase and they vary from one business to another. But there is a process that customers typically go through when making a decision whether to buy a product or not. Considering to buy something does not always translate into an actual purchase. This is where it becomes necessary to understand which factors are effective and which ones are likely to lead into a sale from a target consumer.
1. Comparison is a given
Seasoned entrepreneurs and marketers are well-aware of the reality of competition that surrounds every type of business. If you have a business, you likely have a competitor who is ready and willing to serve your client or potential customer any time. A loyal customer who decides to make a purchase from you regardless of the wide availability of competitors in your industry is everything nowadays. A loyal customer is so valuable to a business, especially in a time when social media has become so influential to consumers. A customer in this day and age has the power to make or break your brand. By simply sharing about their experience with your business, customers can likely spread positive awareness or create a bad reputation for your brand.
It’s important to accept the fact that comparison is unavoidable and competitors are available, but on the bright side, this keeps businesses on their toes when it comes to delivering a product or service to customers. Be aware of competition so you have the opportunity to exceed expectations and be top of mind for the people you are serving.
2. Information that’s within reach
Customers these days scour the internet to get basic up to the most detailed type of information that could help create an informed purchase decision. For high-value items, it’s always important that the most essential information about your product is accessible to a target customer. Or in cases where services are provided, it’s helpful for potential customers to get access to some information regarding the quality of service you offer. You can do this in various ways such as collating reviews and testimonials from happy clients, video marketing demonstrating how your offering works, and through various creative efforts.
While most decisions to buy or not to buy a product are emotionally-driven, given enough time and with the power in your customer’s hand to research and process their buying decisions, information can be very powerful. Always be prepared with the most helpful information that will likely get potential customers to choose you or at least, consider you the next time.
3. Emotional appeal
Emotions rule the arena of buying and shopping. Ever experienced “impulsive buying”? The psychology behind selling is more than meets the eye and as much as we’d like to believe that it is as straightforward as getting your marketing strategies correctly or it is an exact science, it is often more driven by human behavior and emotions. To put it simply, what gets most people to decide to buy is by pushing the right buttons.
Emotions can be one of the most effective triggers for buying decisions, which is why it is also important to consider this when enticing customers to choose you over other competitors. Your product’s emotional appeal varies from person to person, but generally speaking, your brand which encompasses your choice of colors, your copywriting and choice of words, the quality of customer satisfaction you deliver, and even the timing of your ads are likely to influence people to consider or decide to buy from you.
4. Online reviews
According to a survey from BrightLocal, 88% of consumers trust online reviews more than recommendations given by a colleague. Around 2014, the same survey also pointed out that around 39% of consumers tend to read reviews on a regular basis. In 2022, this figure might pale in comparison to the significance of digital channels used for marketing and selling products.
Undeniably, we now live in a time when online reviews largely determine potential sales of products. Products with the most number of positive reviews are immediately ranked on top by marketplaces, whereas listings that don’t get enough reviews are least likely to be found as they’re placed on the bottom of the marketplace search engine.
It’s easy to see how product reviews are becoming the most influential tool to help buyers make a decision to buy or choose other products instead. Leverage this tool for your business especially when you’re selling online and witness how positive words impact the future of your brand.
5. Availability and Urgency
‘Slow and steady wins the race’ unfortunately does not apply to e-commerce. The fastest player and the one who often meets the urgency required by many buyers always has the edge in the online marketplace. Be time-conscious and set expectations regarding the delivery of your packages as these form part of a highly-satisfactory experience for online buyers.
6. Safety and security
Today’s consumers not only have the luxury of comparison and access to limitless information to help inform their buying decisions, but they can also be incredibly skeptical. It goes without saying that online businesses need to meet a lot of requirements to be able to win their customers’ trust. One important factor for businesses to consider is establishing the safety and security of their products as these, no doubt, enhance credibility and trust amongst buyers.
There are infinite ways to communicate safety and security of the products you are offering. Today, as e-commerce dominates worldwide shopping, meeting security standards often entails the use of secure packaging.
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CheckNow has immensely helped reduce counterfeit activities and paved a reliable method for businesses to establish their product’s authenticity. It has now further evolved into a multi-usage platform that is no longer used for authentication purposes only but also for communication, marketing, and big data collection thanks to our upgraded features.
Protect your business today and let’s work together in building a stronger brand in 2022. Contact us directly at +632-8842-0430 or email sales@packtica.com.ph. It’s time to choose the best brand protection solutions for your business!
