What does an “easy decision” look like?
Convenient purchase decisions come from experience. But then, even the most experienced buyers have tells that sellers can exploit. Ideal buyers constantly look for ways to penetrate their “web of lies”. Mind, buyers don’t like the idea of being “influenced” (read: manipulated) into a hasty purchase. Ethical marketers on the other hand can earn their trust by empowering them to make informed purchase decisions.
Enable customers to make the right choice. But know what “right” means to them first.
So, How Do Buyers Decide: The Science Behind
Research states, the unconscious part of our brain is responsible for 85% of our decisions. Simply put, we are impulsive by nature and so are our decisions. But our impulses are not as frivolous as we may think. Our unconscious mind also takes references from the things it already knows, i.e. experience.
There are 4 factors that define the comfort level behind a particular purchase:
- CLEAR DISPLAY: Makes the offering feel true
- SIMPLE IDEATING: Makes the offering relatable
- GOOD MOOD: Makes buying effortless
- REPEAT EXPERIENCE: Makes the choice familiar
Because of these factors, decision-makers trust user reviews, testimonials, and transparent packaging before making a purchase. Conscious decisions, on the other hand, rely more on what’s inside the packaging.
Direct evidence like references from users they already know or relate to helps the conscious mind to choose. Principles are the same four factors as that of the unconscious mind, but with two additional logic factors:
- RELEVANCE: Do I really need this?
- AFFORDABILITY: Am I ready to buy this?
Influencing Buyer Psychology Studying Big Data
The world runs on enormous amounts of data. Data that can be correlated with buyer psychology. And unlike before, it’s all being stored somewhere in the cloud. Their every move can be studied, quantified and leveraged to make buying a favorable experience. Thus, influencing big-buck deals is essentially a digital game now.
Business Purchase Funnel: The Hourglass Model
Digital marketing has evolved over the years. The impact of buyer influences that used to end with the purchase (A) is now obsolete. Customers are now part of the elaborate sales engine.
If pre-purchase was the sellers’ lookout before, modern marketing adds post-purchase experience into the mix (B). This new system is called the Hourglass Model, and it’s fueled by Big Data.
The abundant buyer information coming through today’s multiple seamless input channels is overwhelming. Yet to understand the complete view of purchase trends, this raw data (or big data) is extremely necessary. To exceed human limitations, automation and artificial intelligence are taking over big data analysis and producing accurate market predictions. This is good news for influencers.
Throughout the last year, trends of influencing have transcended to the next level.
- Marketing activities have been aligned to a more customer-centric Customer advocacy is the leading edge in beating a steep competition market.
- Creating targeted buyer personas and mapping customer journeys have been most effective in leveraging marketing resources.
- Following the trend of creating better user experiences, big data has enabled personalization to be integrated throughout buyer journeys.
Eduacate Buyers where their Ears Are
Want to really help your customers make the right purchase decisions? Engage and educate them throughout the funnel. Know the what’s and where’s to make them listen:
Buyers have evolved beyond the scopes of traditional marketing. Newer buying patterns are emerging in their newly adopted virtual marketplace, and buyers need a trusting friend more than ever. Help them, but know them first.
