During the holiday you probably saw many people making purchases. Some people looked like they knew exactly what they wanted. They were on a mission. Others look dazed and confused as they wondered down the isles.
It made me think of an episode of The Big Bang Theory. Sheldon did all kinds of research on the Xbox and PSP. He had this lengthy discussion over dinner with Amy about the pros and cons of each. Once he got to the store, he couldn’t make up his mind. As a matter of fact the store closed before he made his final decision.
Why Do People Buy One Product over Another?
Have you ever wondered what makes people buy or why they purchase one product over another?
If you are a business owner no doubt this thought has crossed your mind. Learning about the psychology of what makes people buy a particular product can help you understand your customers better.
To be clear, I’m not talking about tricking people into buying or doing something. It’s about strategically sharing knowledge in a way that can help direct a person in the buying process.
Start with High Quality Content
In order to effectively do this it all begins with creating high quality content. This content can be in the form of an e-course, instructional video, e-book, or any type information product. The key here is to make sure this information is extremely informative.
As you learn the basic principles behind why people buy you can take your business income to the next level. This can be done when you give the right information to the right individuals so they can make an informed decision. In other words you educate them.
You may have faced the same dilemma Sheldon faced. Maybe you were looking at that 60 inch TV. You started doing your research. The idea was already in your head, and the next thing you know there are ads on TV. This prompts you to look at various websites. Before you know it, you are presented with a targeted advertising campaign that makes you take a deeper look into making the purchase. The ad might have a call to action: “Buy now before the price goes up” or “limited time offer.” You are then directed to the dates and times of the sale. In other words, the campaign gave you certain steps to help you take action and move you towards the purchase.
What does that have to do with your business? You want to be the one who delivers the right marketing campaign to the right people. It’s your product or service you want people to buy.
When you know who your customer is and why they buy, you have the opportunity to increase your sales and profits.
3 Steps to Educate Your Clients
Here are a few other steps you can take to help educate your clients.
1. Use Social Proof (Testimonials).
This makes me think of the popular site QVC. When you see a product you usually see hundreds of testimonials from past buyers. Their comments can help move you forward in the buying process. Testimonials on your website can have the same affect.
2. Offer a Free Sample.
This happened the other day to me when we were at Costco. We were given a sample of a product and then we were directed to where it was located so we could purchase it.
3. Set Yourself up as an Authority Figure.
Let people see the expertise you have. One of the best ways to do this is to create videos. This not only puts you front and center, it also helps people see your P Factor (personality). They get to know you and make that all-important connection. People are more willing to buy a product or service from an expert, so be sure to maximize your expertise in your marketing materials (sales pages, etc.).
What is one important thing you should take away from this? It’s about creating quality content first.
Toni Nelson
Using a step by step approach, Toni Nelson has been helping entrepreneurs and service-based businesses plan, brand, and promote so they can boost profitability and productivity. As the author of Sexy, Savvy and Successful, she knows how to help clients plan their strategies for success. As an award-winning photographer and videographer, Toni is in the perfect position to help clients with the branding process. As a business success coach, Toni's second book, The Secret Equation To Attracting More Clients, is all about promoting businesses. As the founder of the Entrepreneur Hub Club, Toni encourages women to invest in themselves by gaining or sharpening their business skills. As an award winning videographer and photographer, Toni has had weddings published in such places as DIY Bride and Kiss My Tulle. In 2014, Toni was a winner in the Start Up Nation Top 100 Home Based Business ranking in the top 10 for most innovative.
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Good effort on the article, however 3 key points described would simply not cut it
Consumer behaviour psychology is more complex than to what you have suggested in your article. People do not buy products based on testimonials alone – brand strategy and focus on delivering exceptional customer service, products and overall buying experience.
I recommend looking at Interbrand 2014 company Index to look at the companies and answer yourself – why do I buy from them? or what makes them special?
I am convinced that it would not be what you have suggested in your article.
Matt
Thanks Matt for sharing your thoughts. As the article states this is the basics for understanding why people buy. Today more than ever it’s about education based marketing. The consumer needs to know about the products they want to purchase and the business owner needs to understand what makes them buy.
The article does not state that testimonials alone make a buyer purchase. It can however move them towards that purchase. Sites like Adorama, HSN, QVC and others post testimonials about their different products. These testimonials can sometimes answer the questions or concerns a consumer has. Reading those comments can help them decide if the product would be a good fit for them.
This was written not as a tutorial but as I said in the article provide “basic principles” not go into the brand strategy and customer service aspect.
As for the other two points giving people a sample of what you have to offer or a trial offer again helps a consumer move towards the purchase. Sam’s club and Costco are great examples of this. I’ve seen other people as well as myself buy a product because I had that free “taste” and it moved me to say, “yes” that’s what I want.
In today’s changing world people need to know like and trust the company they buy from. That trust factor comes in when they can not only see what you have to offer ( and sometimes get a free sample) but see how others felt about their purchase.
In the 30 years I’ve been in business I have found these 3 points are definitely valid.